If you’re mad enough to be heading to an airport this height-of-summer-season, you’ll face the ‘which queue to join’ dilemma. Those old enough to remember having to go to a bank of a lunchtime (yes, kids, they had actual staff whom you had to talk to to get money) will know that it’s a losers game, and that whichever you pick will have the idiot whose passport is buried in the bottom of his or her suitcase. Hedge fund managers take big risks and can make or lose fortunes for their clients (usually only ‘make’ for the managers themselves). Moving everything into cash and reinvesting ‘when things are on the up again’, as is often, and has often been recently suggested to me when investments are on the down, is a risk even they would be unlikely to take. Which is why our advice is always, boringly, not to try and choose the right queue, be patient and hang on in there. You’ll get to the front eventually.
“Odey EU funds discuss restrictions on withdrawals as founder sidelined”
I’ve always been wary of so-called ‘Star Fund Managers’. These are (usually) guys who become so famous for their fantastic fund performance that they attract followers and investors in their own right and, in more often than not set up on their own and name their company after themselves.
