"Post the Financial Crash, the role of regulation and the impact of regulation on all aspects of the financial industry has broadened and intensified. Investment knowledge is a core competence required by large numbers of organisations and individuals in the financial services industry. This...

Investors have too often extrapolated from recent experience. In the 1950s, who but the most rampant optimist would have dreamt that over the next fifty years the real return on equities would be 9% per year? Yet this is what happened in the U.S. stock market. The optimists triumphed. However,...