When you speak to fund managers – especially working in big fund houses, you realize that some of them are jealous of us as individual shareholders!! Let us look at some of the cribs from a guy I met recently:
– individuals do not have to deal with trustees and directors (absolutely true: In this country of financial illiteracy, this is to be seen to be believed)
-you have no obligation to worry about quarterly NAV. Worse, some sales guys come rushing to the FM on a daily basis if the fall in Nav is greater than the market fall.
– you can stay on in LMW and MRF as long as you want, but it does not meet my liquidity norms..
– if you sell a bank share you can buy a power stock, I have to maintain my ratios
– you can move to an all cash portfolio, I cannot.
– you can have a concentrated portfolio or a diversified portfolio
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