Could the already prolonged bull run have further to go, or would it perhaps be wise for investors to begin taking profits?
Again, maybe just sitting tight and being patient is the best way forward, but that can be a difficult ask in a world increasingly set on short termism.
Adds Ralph: “We have a preference for managers who express their views in a way that is very different from the underlying benchmark index and who don’t raise the cost of running the fund by over trading.
“This is supported by academic evidence that says highly active managers who have relatively low turnover generally have a better chance of outperforming.”
