UK billionaire Michael Spencer joins Merryn this week to explain why he’s betting big on Nutshell Asset Management’s trading strategy.

There isn’t much everyone agrees on in markets. But one thing you rarely hear an argument against is the importance of trading as little as possible. The higher your turnover, the higher your costs go and the worse your overall performance will be. So find good quality stocks you have faith in and hold them for the very long term—Warren Buffett or Nick Train style.

Or maybe don’t. Spencer, the billionaire behind one of the world’s biggest financial brokerage fortune, says the low turnover story is old hat. There has been a change in market structure, he says, and trading costs today are “microscopic” compared with even a few years ago.

UK billionaire Michael Spencer joins Merryn this week to explain why he&rsquo;s betting big on Nutshell Asset Management&rsquo;s trading strategy.
There isn&rsquo;t much everyone agrees on in markets. But one thing you rarely hear an argument against is the importance of trading as little as possible. The higher your turnover, the higher your costs go and the worse your overall performance will be. So find good quality stocks you have faith in and hold them for the very long term&mdash;Warren Buffett or Nick Train style. Or maybe don&rsquo;t.&nbsp;Spencer, the billionaire behind one of the world&rsquo;s biggest financial brokerage fortune,&nbsp;says the low turnover story is old hat. There has been a change in market structure, he says, and trading costs today are &ldquo;microscopic&rdquo; compared with even a few years ago.

Merryn Talks Money with Bloomberg senior columnist Merryn Somerset Webb is your key to understanding how markets work – and how you can make them work for you. Every episode features a relaxed but in-depth conversation with a fund manager, a strategist, a Bloomberg expert or just someone Merryn finds particularly interesting in any given week. Listen in for the kind of insights and explanations everyone can use to help them make better saving and investing choices.

Merryn Talks Money with Bloomberg senior columnist Merryn Somerset Webb is your key to understanding how markets work – and how you can make them work for you. Every episode features a relaxed but in-depth conversation with a fund manager, a strategist, a Bloomberg expert or just someone Merryn finds particularly interesting in any given week. Listen in for the kind of insights and explanations everyone can use to help them make better saving and investing choices.

Merryn Talks Money

Buy and Hold is Dead. Billionaire Michael Spencer on Why Good Investors Trade A Lot. 

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/c486a73f-78e0-429d-8f93-b2a601574181/transcript

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