Investing is like Bargain Hunt, but without the haggling

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If I have learnt anything from watching daytime TV, it’s that if you’re looking for a bargain you have to haggle. Even then, amateur antique hunters are unlikely to make a profit when they take their finds to auction.

Sadly, investors can’t barter on the price they pay for their investments, however much those putting money into investment trusts may wish they could. The most costly trusts are eye-wateringly expensive — so much so that something rare has happened.

The manager of one of Britain’s biggest has said that his fund costs too much. Lindsell Train Investment Trust is run by Nick Train and Michael Lindsell, two of the most highly rated stockpickers in the UK. It has shares in big businesses such as the