IN THE case of the medical or engineering professions, there is usually a precise standard for a given procedure. In the investment industry, while this may be true with respect to ethics, not following others is the key to success when it comes to investment decisions. Indeed, you want to be ahead of the herd, and this means doing your own research. Broker research has its uses, but it is no substitute for doing your own analysis and coming to your own conclusions. It’s about being accountable for your decisions as much as anything.
Hugh Young is managing director at Aberdeen Asset Management Asia.