Sir Mark Weinberg,
chairman at St James’s Place, is one of
the grand old veterans of the life assurance industry.
He founded Abbey Life and, later, Allied Dunbar,
both of which became household names. At a conference
in May 2006, he said: ‘I’ve been in
the investment business 40 years. People collar
me at dinner parties and ask what will happen
to their Tesco shares or the price of oil. I reply
“I haven’t the foggiest idea.”
I don’t believe anybody knows because the
economy and the world are so full of unknowables.’
In Weinberg’s view, investors should follow
only the following four rules:
