Behaviour
Chasing last year's best fund is a reliable way to lag
Performance tables are backward-looking, and buying the top of one has a poor record.
Behaviour
Selling in a fall, chasing returns, and the habits that cost the most.
2 articles · updated August 11, 2026
Behaviour
Selling in a fall is the most expensive thing investors do
The gap between fund returns and investor returns is well documented, and it is almost entirely behavioural.