The bell tolls for old-fashioned long-term investors

The impending retirement of Nils Taube after some six decades in the investment management industry ...

The impending retirement of Nils Taube after some six decades in the investment management industry marks the passing of the post-war generation of fund managers. In an industry that today sees managers forced to beat their peers' performance year after year or face the consequences, despite the mantra that funds are a long-term investment, Taube's commitment to absolute returns rather than beating the pack sets an example for firms hungry for short-term accomplishments. This is clear from how Taube has managed the St James's Place Greater European fund, which he launched in 1969. While i...