At first sight, it looks like a near-certain way to lose money. An index-tracking fund waits until a share has risen far enough to get into the fund’s chosen index, and then buys it. Conversely, when a price falls so far the share drops out of the index, the fund then sells it. Surely, an intelligent investor can beat that?
There are two sides to every story, even the sorry tale of Thames Water
Chairman Sir Adrian Montague is not the one who profited off mismanagement. He was called upon by the government to take the poisoned chalice.
