"So when will you be declaring Prando's intentions on funding third-party research?" I asked the chairman of the improbably-sized investment company Prandeamus Asset Management when I visited him this week.
"I know you're only asking because every fund manager and his dog has been dutifully queuing up to confirm all external research costs will henceforth be shouldered by company rather client," he replied. "But, the thing is, here at Prando's we don't have to. What is more, may I say how much I resent the implication just because every other fund house is doing something, it's only a matter of time before Prando's follows suit?" "Even though such an implication is borne out time and again by many instances over the many years we have known each other?" I asked. "I didn't say it wasn't just...
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