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Multi-manager’s open challenge to CIOs goes unanswered

Multi-manager’s open challenge to CIOs goes unanswered

Multi-manager Lee Freeman-Shor has said no chief investment officer has taken him up on his bet that he could teach a child to outperform a professional investor in the year since he opened the challenge.

Freeman-Shor threw down the gauntlet in his book The Art of Execution, which was published in September of last year.

In the book, which covers how top investors make mistakes and how they overcome them, Freeman-Shor looked at the most common challenges faced by equity investors and said a novice could easily learn to avoid such pitfalls.

In the conclusion, Freeman-Shor, who runs the Old Mutual Global Best Ideas and European Best Ideas funds, said many investors may be underwhelmed by his views as being ‘too simple’ or ‘too common’, which led him to open the challenge.

‘In the spirit of the film Trading Places, I wager that I could teach these habits to a kid in secondary school and they would outperform most professional investors today. In fact, I am prepared to offer such a challenge to the CIO of any investment house.’

However, speaking to Citywire Selector, Freeman-Shor said he had not had any responses to this request in the past year.

‘You won’t be surprised to hear the answer is “no”. But I hear my book is being passed around many investment houses and is being flagged as a recommended read.

‘I am constantly being asked advice (coaching) but no one has yet chosen to face a challenge from a school kid. Hopefully someone will go for this sooner or later,’ he added.

It emerged last month that Freeman-Shor had undertaken an overhaul of his European Best Ideas fund, which led to the removal of boutique veterans Nicolas Walewski and Marc Renaud. This saw him put a greater emphasis on his systematic approach, called ‘wingman’.

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