Richard Wales

Lover of investing. Both active and passive. Outcome focused. Open minded. Not financial advice.

[Richard Wales @FundSelect]

Passive investing plays a role in portfolios but actively managed funds go through periods of under and out performance. When you rebalance, this is incredibly powerful and will add to your long term returns. The lover of passives overlook this as it doesn’t fit their narrative.

[Richard Wales @FundSelect]

@British_Airways Any new Raj? We’ve heard nothing. Customer service is awful.

[Richard Wales @FundSelect]

@British_Airways BA412 any sign of the bags?

[Richard Wales @FundSelect]

@MarkDampier He’s reduced borrowing costs, not increased them.

[Richard Wales @FundSelect]

@MarkDampier @FundFanatic @IChronicle @EmmaSmWall No more untrue than an index tracker, than a share, than a fund etc

[Richard Wales @FundSelect]

@TheNorfolkLion You can see the hate and aggression in her

[Richard Wales @FundSelect]

@louderry He’s taken advantage of you.

[Richard Wales @FundSelect]

@TheRealJamieKay In France.

[Richard Wales @FundSelect]

@UKLabour https://t.co/at3rXrvrCh

[The Secret Accountant @TheSecretAcct]

Petition: Call a General Election https://t.co/S4RMaHNTyM

[Richard Wales @FundSelect]

@Matthew_Wright

[Richard Wales @FundSelect]

@snb19692

[Richard Wales @FundSelect]

@MarkDampier @MerrynSW But you repeatedly told us rates would be coming down. 🤷‍♂️

[Richard Wales @FundSelect]

@MarkDampier You’ve been saying this for 2 years!

[Richard Wales @FundSelect]

@TheSecretAcct She has to buy. There’s no way out for her business. She needs performance and has to gamble.

Ruffer, obviously to a much lesser extent, had to do the same and it paid off. Their performance was awful, they were losing clients and needed to own something no one else would.

[Richard Wales @FundSelect]

@fundhunter_co A separate point is vanguard don’t disclose the costs of owning the investment trusts in their index funds. Surely they should however this maybe.

[Richard Wales @FundSelect]

@fundhunter_co I believe they do have to include their borrowing costs. This is why property and infrastructure trusts “reportable costs” are so high. The managers may charge 0.75% but the costs much higher.

I think we’ll just have to agree to disagree.

[Richard Wales @FundSelect]

@fundhunter_co The business is one of investing in assets. What’s the difference between Segro and Tritax? Why should an investment trust have to include the cost of its borrowing, when Shell does not? If they do have to include the cost borrowing, should holding cash reduce their costs?

[Richard Wales @FundSelect]

@fundhunter_co They do. It’s their reports and accounts for everyone to see. The running costs are reflected in the share price, like an equity.

The pay of the board and c suite are a headwind to Shell’s share price. If their running costs are less, the shares are worth more.

[Richard Wales @FundSelect]

@narindertweets @NHSPracHealth please check in ok this person with their mental health needs.