behavioural biases

People often ask Steve Johnson, ‘what’s your edge? What do you do differently that allows you to outperform?’ His answer is straightforward: “we don’t have a big team,...

My advice has been consistent over the years: get your portfolio allocation right and let us worry about the timing. It’s fair to say it’s a piece of advice widely...

The concept of ‘herding’ is a powerful lesson that investors should not ignore. Herding is the bias that can lead investors to follow the crowd, whether they genuinely...

In my 30 years as an analyst and fund manager, I have seen recurring business situations and patterns of behaviour that often lead to mispricing by the market. This...