Can ETF flows serve as a weather vane?

The best advisors and fund companies try to read two distinct (and often contradictory) “winds,” judging where their investing business is going. The first is the technical side of investing, the one every financial news outlet spends every moment of every trading day dissecting. What sectors, stocks, instruments are heading towards outperformance? or underperformance? How […]

Thinking we’re experts on wine

Horrifying – if predictable – evidence for many of us… wine ‘experts’ aren’t worth much: I’m pretty sure Nassim Nicholas Taleb suggests in the Black Swan that stock-picking portfolio managers are among the careers where expertise – on average – is worth zilch. ** Follow up: Not all wine tasters are full of it: – to […]