Every Tom, Dick and Harry has had a pop at Neil (yes, the villain has a first name) Woodford over the last few days. Countless rent-a-mouths have queued up to drizzle us with their schadenfreude (most know nothing about funds). But while they like to claim they saw it coming, they conveniently forgot to warn the rest of us.
The press is awash with stories and articles about the pros and cons of passive and active investment, active advice and robo advice, fees and the like. The often wild claims (fake news??) give investors unrealistic ideas about long-term investments and make it difficult for them to make informed choices.