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High-flying investment manager lambasts Buffetts risk aversion – The Times

The investment philosophy espoused by Warren Buffett has been a disaster for pension savers, according to one of Britain’s most successful fund managers, condemning them to lower returns and smaller retirement incomes.

James Anderson, manager of the Scottish Mortgage Investment Trust, blasted the influence of America’s most lauded investment guru, known as the Sage of Omaha, saying his approval for a value investing style had led to “an investment tragedy”.

Writing in the annual results of Scottish Mortgage, Mr Anderson said the approach had led millions of people whose nest eggs are managed by value-oriented fund managers to miss out on some of the most golden investment opportunities.

The problem, he wrote, “has been reinforced by the extraordinary grip that Warren Buffett has exercised

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