Stephen Arnold, CFA

Utilities shares are often seen as a ‘port in a storm’, a defensive sector during periods of market stress.

While share index returns over time broadly match a normal distribution, returns from individual shares are highly positively skewed.

Aoris’ Stephen Arnold, CFA explains why it’s imperative to own just a handful of the best businesses.

Market timing is a seductive idea – theoretically appealing and wonderful in hindsight. But it works poorly in practice – for most people most of the time.