The Idle Speculator

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The Idle Speculator's experience includes a number of years in the early 90s in the UK as a senior investment analyst at what was the world’s largest privately owned mutual fund manager.

He has lived in Australia since 1998 working in broadcasting and the investment publishing industry in Sydney.

He has been picking stocks for more than 25 years and has managed a UK portfolio delivering an investment performance of more than 20%pa over a 20 year period.  In Australia, his investment performance for the 11 years to June 2011 of 8.7%pa (after commissions, tax paid & management fees) has outperformed some benchmarks and has been transformed into greater financial returns so far (15.4%pa) due to the positive impact of portfolio timing.

Five year Australian investment performance is >20% to 30/6/11 after these costs.  He points out that these returns have been exceptionally volatile, only partly because of the volatility of markets generally through the GFC, but more importantly the concentration risk in this Australian portfolio is deliberately significant, and the standard deviation of these five year returns was as much as 41%!  In other words, don’t try this at home!

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