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The late, great Paul Volcker, the towering former Federal Reserve chair, said in 2009 that “the ATM has been the only useful innovation in banking for the past 20 years”. As the Investment Manager of Personal Assets Trust ‘PAT’, we agree with the sentiment that most complex investment bank products are not good for customers.
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As a politics graduate, I have a disproportionate interest in the subject. I also recognise the distraction that political outcomes pose to investors, often adding mere noise, to be ignored, if we are to succeed.
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Quarterly Report•May 3, 2024•
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Quarterly Report Q2 2024
There is nothing wrong with admitting that you don’t know something. What makes investing so fascinating and sometimes frustrating is not knowing all the answers.
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