In depth 

Letters from America

Letters from America

Friends, partners, family – this is not the beginning of a wedding speech, these are salutations used by American money managers in their quarterly letters to clients. Cringeworthy addresses aside, the notes issued by companies that manage billions of dollars are a treasure trove of market insights, investment strategy and, in the case of bad funds, live case studies of cognitive dissonances that can lead to failure.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now