Returns and Reflexes Vol. 1

The Investor Gap

There is a well-documented Investor Gap between the returns offinancial markets and what investors earn. This gap is caused byour behaviour – by the decisions we make under uncertainty andpressure, the ways in which we process information, and ournatural instincts as investors and humans. Fees, friction orexecution costs, which have narrowed massively over the lastdecades contribute to the gap, but it remains even afteraccounting for those drivers.

This series explores the “hidden risks” of investing, drawing onyears of behavioural science research, original studies conductedby Caplign Wealth in collaboration with leading academicinstitutions, and decades of experience in wealth managementand goal-based investing.

“Returns & Reflexes” is for everyone interested in understandingwhat separates a good portfolio from a good investment
strategy – and why the difference is not always where we expect it.

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