I had to apologise to my eldest son the other day. About 18 months ago I convinced him to invest rather than spend his pocket money.
He wanted to put it into the video game Fortnite, of which he is a devotee. It’s maker, Epic Games, is not listed on the stock market, but it is a holding of Scottish Mortgage Investment Trust and so he started putting money into that. To date he has saved £152.
The current value of his holding is £88.22. Oh the unfairness. Sorry, dear boy.
A mis-selling case undoubtedly awaits me. But at least I felt compelled to apologise — fund managers take note.
I’ve always thought being a fund manager was one of the easiest jobs. You