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12 Jan 1:50pm

The Guardian view on a savings scandal: a star has fallen and an industry is in disgrace | Editorial

The Guardian
Neil Woodford was the UK’s most famous fund manager. His fall highlights an industry both lucrative and dysfunctionalIn his classic book A Random Walk Down Wall Street, the Princeton economist Burton Malkiel writes: “A blindfolded monkey throwing darts at a newspaper’s financial pages could select a portfolio that would do just as well as one carefully selected by experts.” Last year, the Wall Street Journal threw darts at a list of shares and pitted the resulting random portfolio against those of the cream of the hedge-fund world. The result?
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