Financial Times - Lessons from the Tour de France

Terry Smith explains what investors can learn from the Tour de France - like cycling, investing is a test of endurance and the winner will be the investor who finds a good strategy or fund and sticks with it.

Financial Times - What Buffett has known since 1979

Terry Smith writes to the Financial Times to point out that investors are only starting to realise what Warren Buffett has known for decades - that return on capital employed is the best measure of managerial performance.

Financial Times - Poor and Confused Outlook Continues for Retail Investors.

Sir, I refer to Alice Ross's article " Market timing errors prove too costly " (FT Money, November 20). The article quoted Skandia saying that behaviour on its investment platform reflects the fact that many investors buy UK equities in response to what the FTSE has been doing - buying more when it is high and less when it is low - a recipe for poor investment performance adding further justification to the notion that most investors are their own worst enemy.