WHEN SHOPPING ON BOND STREET IT CAN BE A BIT EMBARRASSING TO ASK THE PRICE. WHEN INVESTING IT SHOULD BE THE FIRST QUESTION BUT SOME INVESTORS SEEM TO HAVE FORGOTTEN THAT.
It is a truism that the dominant determinant of the success of any investment is the price you pay for it. Yet in recent years financial markets have been flooded with money from investors who do not care what the price is. Their motivation is support (or manipulation, depending on your point of view), “liability matching” or replication.