Many active managers are closet indexers. The real cost of forcing a skilled manager into a low tracking error is the limit to the upside.
Tag Archives | value
Platinum’s Kerr Neilson shares his insights into long term investing in global markets, especially the disruptive effects of technology and globalisation. And always with a focus on the price of a stock.
Price is what you pay when you buy an asset, and value is what you get. Market price and the intrinsic value of a good or a company share are two different qualities.
Well-executed mergers and acquisitions can add material shareholder value, but there are plenty of examples where they destroy value, and in the worst cases, jeopardise the entire company.