James Montier of Dresdner Kleinwort Wasserstein, investors’ favourite equity strategist as ranked by the Thomson Extel Survey, has identified seven common mistakes in the investment process of fund managers everywhere. His analysis challenges some of the most deeply held beliefs.
The seven deadly sins, according to Montier, are:
1 Placing forecasting at the heart of the investment process. Most investors are hopeless at forecasting so should not make it an integral part of their investment process.
2 Being obsessed with information.
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