Lessons relearnt

Since value-based Australian fund manager Auscap started running its Long Short Australian Equities Fund in December 2012, the fund has nearly quadrupled the returns of the All Ordinaries Accumulation Index (as at 30 Jun 15).While 2015 was another good year – with net returns to investors of 16.8% substantially exceeding the index’s return of 5.7% – fund managers Tim Carleton and Matthew Parker note in their latest report that returns should have been even better.Unfortunately, though, the fund managers made some mistakes that they probably wouldn't have made had they remembered lessons from earlier in their careers.Learning from great investors’ mistakes is just as beneficial as...

Since value-based Australian fund manager Auscap started running its Long Short Australian Equities Fund in December 2012, the fund has nearly quadrupled the returns of the All Ordinaries Accumulation Index (as at 30 Jun 15).

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