LETTER

To the editor, Your editorial in the 3 July issue of Investment Week confuses two entirely separate...

To the editor, Your editorial in the 3 July issue of Investment Week confuses two entirely separate issues about the importance of short-term performance. The BoNY report confirmed what we all suspected that investors (and presumably, their advisors) are influenced more by short-term performance data than long-term data when making their selections of which assets to purchase and liquidate. This is indeed fairly clear from a look at IMA net retail purchases figures and comparing these to equity market performance over the same periods. However, it is quite a leap of logic to suggest that ...