Tuesday 17 May 2011

Don't be fooled!

Social media apps and Google and perhaps even the ailing traditional media networks force-feed us all sorts of 'pap / BS' each and every day. It's amusing to watch and listen to some of the 'experts' expounding / 'pounding' their knowledge on the market channels. Don't be fooled!! The 'I told you so' financial TV personality 'gurus' remind me of the 100-monkey theory I first learnt as an apprentice portfolio manager some two decades ago. In a nutshell the story goes as follows: 100 monkeys sitting in a trading room advise buy or sell. Those that are wrong are dismissed. The remainder again advise buy or sell. Those that are wrong fall out and so on until a solitary monkey remains. He / she's a genius, right? Wrong! He / she's really just a lucky monkey......

I say again. Don't be fooled and ask the right questions.  

It's your money, stupid.......  

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