John Stepek

I'm not saying that any of them have got bad intentions, but if you've got a UK, domiciled UK funded massive pension fund, then, you know, I mean, it's the closest thing to an SWF that we will ever get.

So, you know, the idea that it's not really like it's only taking a negligible stake in British listed companies and British financial infrastructure feels like a missed opportunity.

Is that how they put it?

Yeah, I think that's your basic point.

You want to get people more involved, and it's possible to get people more involved.

And yeah, you're right, from the education point of view, yeah, I mean, the fund provider probably is the best one to do it, or at least to be lumbered with that particular responsibility.

We would need to have a proper competition about that, I have to say.

I have to say.

Yeah, I think you could.

And we've often discussed that there are some frustrating assumptions made about women and investing and men about investing that probably don't really hold true or certainly aren't about gender.

But I think that is an absolutely fair point about investing.

Seeing someone that you're assuming to be less sophisticated and then presumably actually getting away with it, because I'm assuming that the advice that's been given here is the advice that's actually followed.

I mean, obviously.

Yeah, OK, I mean, you can quibble with the statistical significance, although at the same time, it's a big study.

I mean, they looked at about 27,000 real world meetings between people.

So, you know, maybe, you know, all of that kind of holds up.

But I think the...

The lesson really is, and this goes back to, as you say, what we were saying earlier, if you don't want to get taken advantage of, then you need to know something about this stuff, whether you like it or not, or you need to know someone that does.

So it's a bit like if you're going to buy a used car,

Normally, ideally.