The ‘alpha’ edge: three fund management success stories
With the advent of the $3.5 trillion in compulsory savings via superannuation, Australia has become a breeding ground for some of the best investment talent on the planet.
There is a reason banks don’t like lending to fund managers: they are normally terrible businesses. For every success story, there are a litany of failures one cannot see. This is the notorious survivorship bias – we only observe the winners as losers disappear from sight.
Alex Vynokur, the chief executive of BetaShares. Louie Douvis
Christopher JoyeColumnistChristopher Joye is a portfolio manager with Coolabah Capital, which invests in securities, including those discussed in his column. Connect with Christopher on Twitter.
