Woodford: We must stop 'corrosive' stock churning

Invesco Perpetual star Neil Woodford is among a group of high profile investors to hit out at today's short-term performance culture, saying this "obsession" is damaging long-term returns.

Woodford, the UK’s most highly regarded manager, has labelled the increasing short term focus of the stock market as the single most “corrosive characteristic” of the investment industry. Holding periods...