Brighton Perspective

Emerging stocks offer better returns and less risk - FT.com

Investment allocation among different asset classes and national markets is the major determinant of a portfolio’s return.

via www.ft.com

Another excellent article from Malkiel. Emerging markets don't look great today but he argues may offer good long-term potential for several reasons.

Benchmark obsession undermines investor returns - FT.com

Sir John Templeton, the pioneering global investor, argued that the aim of investing was quite simply “maximum real returns”. Over time this simple but powerful objective has been lost. This is all the more surprising because, clearly, real returns matter to the end investor, particularly in current markets. Pensions are paid from real returns not relative ones.

via www.ft.com

Excellent article emphasizing the potential value of contrarian investing.