Tag: gold

1986 – 2016. « LIVE TO TELL » (MADONNA) In 1986 Madonna was singing a very nice song titled « Live to Tell » which rapidly became a hit. Although the song was by no means a reference to financial markets, it’s easy to extrapolate with the title and imagine…

WHY IS ACTIVE MANAGEMENT UNDERPERFORMING THIS YEAR? 2016 has so far been a difficult year for active managers (long only stock-pickers and hedge fund long/short equity managers). If we take the US equity markets as the main proxy we see that the MSCI USA Index is up just +1.3% for…