By Tom Bradley

Subsequent to posting my last blog (Hocus Pocus but no Magic), I came across some weighty comments that relate to the topic of fancy, highly-marketed investment products.

In his latest piece, James Montier of U.S.-based GMO says, “If something seems too good to be true, it probably is. The financial industry has perfected the art of turning the simple into the complex, and in doing so managed to extract fees for itself!”

He also quotes John Galbraith: “The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version.”