Why Lily Allen is smarter than your fund manager

Over the last ten years, 28% of retail investment funds run by banks have deducted more in fees than they have delivered in returns. Tom Bulford looks at why investors should take notice.

Fund managers destroy value. Here's the proof.

First consider how Warren Buffett, the world's greatest investor, has grown money. If you'd invested $1,000 in Buffett's holding company, Berkshire Hathaway, in 1965 it would be worth $4.3m today. That's what can happen if you take the trouble to identify really strong businesses and stick with them.

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Tom worked as a fund manager in the City of London and in Hong Kong for over 20 years. As a director with Schroder Investment Management International he was responsible for £2 billion of foreign clients' money, and launched what became Argentina's largest mutual fund. Now working from his home in Oxfordshire, Tom Bulford helps private investors with his premium tipping newsletter, Red Hot Biotech Alert.