Buy low and sell high is investor watchword

Every investor knows they should buy low and sell high but it is far from clear if all investment houses put this maxim into practice. Commercial pressures often come into play and these can have a detrimental effect on investors, leading to a buy high and sell low approach, which most agree is not the best way to make money. There is an inherent tension in every fund house between the fact it is a business looking for assets and revenues, giving it a short-termist outlook, and its core competency, which is generating strong long-term returns in its portfolios. On the face of it the two...