Know your biases: Don't catch a falling star

Revisiting old structures and practices

Clare Flynn Levy of Essentia Analytics

Clare Flynn Levy of Essentia Analytics

Clare Flynn Levy, CEO of Essentia Analytics, explains why the Neil Woodford saga is not about transparency; it is more to do with unchecked behavioural biases.

It is a tale as old as time: 'star' fund manager grows too fast, their style starts drifting as they're increasingly stretched, and it all ends in tears. Careers ruined, investors outraged, decision-makers humiliated, and everyone doing lots of finger-pointing. The Neil Woodford saga is the classic fallen star story, with all the usual twists and turns but with some modern touches such as a hedge fund-style liquidity crisis.  But none of it is unprecedented and with word on the street that for several years Woodford was deviating from a traditional equity income mandate, the new re...

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