"Do you think every type of investment must fail before people trust it?" asked the chairman of the improbably-sized investment company Prandeamus Asset Management when I visited his office this week.
"Wouldn't that then make Prandos the most trusted fund management business on the planet?" I replied, which was cruel but clearly hard to resist. "Yeah, yeah - I saw that one coming even before you walked through the door," said the chairman good-naturedly. "But I'm serious, do you reckon all investment products or asset classes must fail in some way - through a scandal or a crash or whatever - before the wider market is really prepared to take a punt with their own cash?" "It's an interesting question," I said, playing for time. "Why do you ask? Have you finally started wondering wh...
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