Investment Professionals

Tuesday, September 13, 2005 | 0 comments »


MD writes...

It has long been the case that most successful investment professionals have either been lucky, at no risk to themselves with other people's money, or in possession of information the rest of us don't have. A very select few have the skill, the investment nous (as well as the understanding that cash is ultimately king) and the luck of Messrs Munger and Buffet of Berkshire Hathaway.

So no surprises then to find that some of the biggest losers in the PartyGaming fiasco (apart from the Dresdner Kleinwort Wasserstein reputation) are the investment professionals. M&G's words, not mine; and they've surely lost a packet of your and my money.

Sadly, PartyGaming still seem a fair bet (geddit?) to join the FTSE 100 this month. Tracker funds will be obliged to join this nonsense; and this scribe foresees plenty of miss-selling cases in the future.

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