Manager profile: Peter Matthews, founder and managing partner of PJM Capital

Making a mint from science

Test tubes

Peter Matthews, founder and managing partner of PJM Capital, believes there is a science to the financial markets, which he sees as complex adaptive systems. This has led him to some unusual conclusions about investing.

Matthews argues that future outcomes in financial markets can never be predicted. Attempts to pick winners through fundamental or technical analysis are always futile, he says.

In his view the singular objective of asset management is to measure and minimise risk, which he

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