Crypto operates on the greater fool theory. Because it has little real world use currently, investors are buying it on the premise that they will be able to find someone down the line willing to buy it off them – the greater fool, or some optimist who believes they have found their own golden ticket.
There’s an ironic certainty to the Cup, given the pony-picking premise. We know that it’ll happen every year on the first Tuesday of November (not even COVID could stop it, though it did keep the fans at home last year). Beyond that there are so many variables for the punters – weights, age, barrier draws, recent form, the race distance, the weather and the state of the track.
If you’re trying to pick stocks, the options are just as bewildering.
Okay, this one created quite a stir in financial circles. ANZ Investment Services (New Zealand) decided to stop Bonus Bonds and wind up the investment scheme by the end of October and return funds to bondholders. Here is a thought for those who feel disheartened.
Our fortnightly newsletters carry our latest blog articles and podcast episodes.
We respect your privacy. You can unsubscribe anytime.
