Last week, I reviewed our investment trust portfolio. It was, even by our standards of churn, a particularly dull update. I told you that everything was going fine and made no changes whatsoever. I suspect that this all pleased most of you who hold the trusts. You are making a perfectly good return and no action is required.
But spare a thought – if you will – for the members of my investment trust advisory panel. Whenever we go through this process of thinking a lot and doing very little, I email all of them and demand [...]