Actual investor returns, one study concluded, are “systematically lower than buy-and-hold returns for nearly all international stock markets”.   Photograph:  Spencer Platt/Getty Images

Are you concerned about the slowing Chinese economy? Do you worry that valuations seem high, after six years of strong gains for global stock markets?(...)

Mounting fears regarding a global slowdown have hit stocks recently, but Merrill Lynch’s latest monthly fund manager survey indicates a rebound may(...)

Stock picking: ETFs offer investors the ability to assemble a low-cost, diversified portfolio but their convenience tempts investors to partake in the trading game in which the only sure winners are the brokers and dealers of Wall Street. Photograph: Gianluigi Guercia/AFP/Getty Images

Vanguard founder and passive investing champion John Bogle sparked controversy recently when he warned investors to “beware” of exchange-traded funds (...)

Technology stocks have motored higher in 2015, driving the Nasdaq close to 2000’s all-time high, which was at the very height of dotcom mania. Are thi(...)

Traders on the floor of the New York Stock Exchange look forward to 2015. PHOTOGRAPH: CARLO ALLEGRI/REUTERS

The dawning of a new year invariably prompts financial soul-searching, most of us resolve to learn from the mistakes of past years and finally get our(...)

Winner’s curse: Apple shareholders suffered a torrid time shortly after the company smashed the market capitalisation record in August 2012, descending from a high of $705 (€520) per share to a low of $385 (€284) just seven months later. Photograph: David Paul Morris/Bloomberg

All over the world, the “top dogs” in stock sectors go on to suffer years of underperformance, according to prominent money manager Rob Arnott. Just a(...)

Traders work on the floor of the New York Stock Exchange: Research indicates that returns are usually dictated more by chance than skill. Photograph: Justin Lane/EPA

Does luck trump skill in investment. Research indicates that returns are usually dictated more by chance than skill, and it’s hard to tell the differe(...)

Picking stocks: investors have reason to be grateful to devotees of the efficient market hypothesis and behavioural finance.  photograph: andrew burton/getty images

Are markets efficient, or are investor actions governed by animal instincts? Is it pointless trying to beat the market, or are stocks prone to systema(...)