I was recently reading the Cooper report on superannuation in Australia and several things jumped out at me from this report. Several are quite telling in what they reflect about peoples capacity to make long term informed decisions and several about the investment industry itself. According to the Cooper Review the average superannuation balance in…


A Quiz?

And the question of the day is. What’s the one thing we will probably never build in Australia in my lifetime? If you answered a high speed rail network you win the internet. However, the good thing is that Australian Governments don’t have a monopoly on short sighted cretinism. The same debate is occurring in…


Sad Bastards

Can someone tell me who are all these sad bastards who are sending me invitation to Linkedin. Is it common practice to send invites to people you don’t know? If you read this blog stop sending them to me before I sign you up to transexual dating service.


You would naturally think that financial markets were hotbeds of rationalism and hard headedness. That only ideas that actually worked would be taken seriously. If you are of this opinion you are in for nasty shock. Any funds under management you have are being managed by people who believe that the best time to buy…


Not All That Rosy

Piece from the NYTon how hedge funds are not doing all that well. There is a mythology around hedge funds that they are all seeing, all knowing and always profitable when this is very far from the truth. There are obviously giant profitable funds that are run by sane sensible individuals using robust logical models…