Tyndall Comment September 2009
Peter Lynn brings back the debate - Is active management worth the higher fees than passive investment? This is a more straight forward debate now that the tax incentive has been removed for New Zealand passive investors.
The China story has been well debated since our August comment. Andrew's caution was warranted, with a 20% plus decline in their stocks in August. In the US, September has the dubious historical record as the worst month in the year for stocks, with the Dow Jones Index on average since 1928 losing 1.30%; many commentators are introducing caution into their expectations.
Read the full Tyndall Comment.
Tyndall
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