Fund managers are sacrificing long-term gains for capital survival

A core mantra of investing is to take a long-term time horizon and forget about the short-term noise, be it trade wars, poor quarterly reports or political meltdowns. While this is true, James Penny, UK CIO at TAM Asset Management, pointed out that loading up on assets that will be the "next Terry Smiths" are not the ones that will protect the clients who are now at the end of their investment time horizons. Emergency interest rate hike: 'Overreaction' or too little too late? He told Investment Week that one challenge all managers face is balancing a portfolio for a variety of diff...