Robin Wigglesworth
The Navigator
Judgement in the fog, money, risk and the call others cannot make.
Robin Wigglesworth earns The Navigator through evidence-led movement across complex financial terrain. The Financial Times Global Finance correspondent and author of Trillions traced passive investing to its origins in order to chart its trajectory, revised his ETF skepticism as new data emerged, and frames his editorial focus around anticipating where markets are heading rather than where they have been.
“They've saved all of us trillions of dollars in total because the average cost of a mutual fund or a hedge fund even has fallen by a third over the past two three decades. And maybe that would have happened without the invention of the index fund, but I don't think so to the same extent. And these sums are going to be in the trillions.”
“But clearly, this is something that works elsewhere. There are some markets that are less efficient. Emerging markets are less efficient than large cap US equities. So you can see that actor managers do do better there on average before and after fees. But in the long run, they still underperform the index.”
“Good at taking advantage of that break. And Jack Bogle was unambiguously brilliant. And like you say, he was not going to die a failure almost whatever he did. But a lot of it was timing.”
“Yeah, so I mean, my access was great for the most part. I mean, I genuinely do think most humans are actually quite helpful if you make sure that you impress upon them that you're not going to be wasting their time. And some people, like I say, had suddenly passed away. Like Louis Belay obviously passed away almost a century ago.”
Masters in Business: “Robin Wigglesworth on the Creation of the Index Fund (Podcast)”
LISTEN AT THE SOURCE ↗THE RECORD IS CHECKABLE