Greetings Blogger,
At the moment we are just getting our house in order for a prosperous new year. This is the time of the year when accountants are faced with auditors with the inevitable increase in workload. This time every year I have a good think about my career and future and try and get things in perspective for the next 12 months.
Anyway enough serious talk today. I recently came across a great comment on an Irish website http://www.askaboutmoney.com/ which I highly recommend for impartial financial advice. While explaining about risk the poster had this to say about investment:
In 12 months time imagine your portfolio down 40K. Sick as a parrot I would say - out of 10 how many parrots?
On the other hand, and no more likely, you may be up 40K - Happy as a pig... Out of 10 how many pigs?
If more parrots than pigs then you are short term risk averse and better off investing your money in a high interest deposit account- these days the depositor is king - appreciate your power!!
If no parrots or pigs then you genuinely have a long term view - go for your choice of mixed investments.
Not only is this very funny but really highlights the point that investment decisions are not merely determined by current or even future market conditions but rather a whole range of issues.
At the moment we are just getting our house in order for a prosperous new year. This is the time of the year when accountants are faced with auditors with the inevitable increase in workload. This time every year I have a good think about my career and future and try and get things in perspective for the next 12 months.
Anyway enough serious talk today. I recently came across a great comment on an Irish website http://www.askaboutmoney.com/ which I highly recommend for impartial financial advice. While explaining about risk the poster had this to say about investment:
In 12 months time imagine your portfolio down 40K. Sick as a parrot I would say - out of 10 how many parrots?
On the other hand, and no more likely, you may be up 40K - Happy as a pig... Out of 10 how many pigs?
If more parrots than pigs then you are short term risk averse and better off investing your money in a high interest deposit account- these days the depositor is king - appreciate your power!!
If no parrots or pigs then you genuinely have a long term view - go for your choice of mixed investments.
Not only is this very funny but really highlights the point that investment decisions are not merely determined by current or even future market conditions but rather a whole range of issues.
