Why Balance Sheet Gearing Still Matters

Tim Guinness is the founder and Chairman of Guinness Global Investors. He has been in business 5 decades and has been managing money for 44 years. He has built up two firms, the first he sold and the second now runs $11bn. Age 77, he is still thinking about how to grow the business and secure its future. Perhaps controversially, Tim thinks it’s not difficult for activemanagers to beat the index, even today. This was a fascinating discussion with an incredibly experienced and normally under the radar fund manager who is unafraid to challenge consensus thinking.