Gosling's Grouse - Listen to the shareholders

The Munro Fund is a simple but clever little tracker fund run by Rob Davies of Fundamental Tracker Investment Management in Scotland.

Each month, Davies writes some thoughtful comment pieces that are invariably worth a look. You will find his February comment on page 27 of this issue of Investment Week, but it caught my eye when it landed in my email inbox. Under the title “Agents versus Principals” he points out the one section of the population that is not really being heard in the whole debate about the state of the banks are the shareholders. Of course, these shareholders appear on the register in the form of individual punters, Isa holders, pension funds, charities and unit and investment trusts. As Davies poin...