UK 10:43 Wednesday, 7 October 2026
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At the Gold & Bears show some speakers insisted that institutional investors were so much smarter than retail investors. I am not so convinced. Just to show you that some mug punters wear expensive suits, meet Richard Penny, a high flying fund manager at Legal & General. After the Globo (GBO)scandal broke Mr Penny stated that the accusations levelled at the app developer were 'the worst I have seen in 10 years'.
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Comments
wildrides
What ? no comment piece on your mate Drummonds “Teathers” . Your tip and its down to zero . To busy kicking chunks out of LGO I suppose and took your eye off the ball on your own tips ………….. where was the warning to your readers ;-)
rob
Wild, to be fair I’ve looked back at TEA on here and could only find tips from HotStockRockets and Gary Newman on this site. Thankfully I’m not invested but I agree could do with a column by SP here
alcira16247
Tom
How can it be explained or excused that individuals employed as experts, by Organisations, charged with managing and growing the saving wealth of us ordinary little people, continue getting away with making such monumental blunders?
With access to huge resources enabling exhaustive research, assess to industry and audit expertise, how can their failure to perform effective ‘due diligence’ be defended, as their shockingly poor decisions continue to cost their fund holders dearly?
Remember, folks, we’re talking about these ‘expert fund managers’ investing millions, not in poorly managed businesses but in pure out and out frauds!
Despite appallingly average and in most cases below average performance, these investing heroes, show no sign of apology or remorse…… This outburst from defender and apologist of disgraced ‘entrepreneur’ Robert Terry; Tom
Dobell: No strategy shift for M&G Recovery – my portfolio is cheap!
http://www.trustnet.com/News/625456/dobell-no-strategy-shift-for-mg-recovery—my-portfolio-is-cheap/
So no apology, to your investors in M&G Recovery for the shrinking value of their holdings, eh Tom?
According to FE Trustnet, the nett returns to investors, managed by :-
Richard Penny
Annualised total return over 12.4 years +4.7%
L&G UK Alpha Lead manager UT UK All Companies since May 01 2005 to present
L&G UK Special Situations Lead manager UT UK All Companies since May 01 2014 to present
Tom Dobell
Annualised total return over 15.7 years +5%
M&G Recovery Lead manager
Hardly breathtakingly stunning performances, Gentlemen!
Branksy
Thank you alcira16247, yours is the only comment I could find about disgraceful performance of lackluster fund managers. ‘Richard (if you are lucky you will get back a) Pennys’ UK Alpha Trust fund has had a awful 12months minus -11.43% in the last 12 months versus FTSE all share index loss of -6.88% i(n 12 mnths to 18Dec2015) – “this is one of the poorest periods in the trusts history”. Notice “one of the poorest”, there are more.
Search engines use Keywords to find relevant content: Could I ask here whether Richard Penny is the Worst fund manager that Legal and General (L&G) have, in view of poor, appalling, not even mediocre, performance? Thanks.