New page from Phil with an article which should be everybody’s finance 101!
Past performance is no guarantee of future results. That’s an often repeated phrase in investing. Investors, however, seem to be of a different mind.
Basing your investment strategy on past performance (especially recent performance) can easily backfire. Annualised rates of return mask a lot of the variability that investments experience assets that have performed well may not continue to do so.
Read the full article here……..