Berl comment, Jesson, compost

A good interview with a man from BERL today on Morning Report – suggesting a semi-pinning of the dollar, becauseof the effects of knee-jerk investment reactions. This rings a bell – as in; market forces, and their lack of long-term strategic thought.

Here is the late Bruce Jesson, (from Only their Purpose is Mad/Dunmore Press) :

“Investors…..try to anticipate short-term movements in share prices, bond prices, interest rates, exchange rates and so on. They try to out-guess the market, which consists of other investors trying to out-guess the market, but it is all too complicated……….it is practically impossible to compare the value of particular investments or even to compare entire markets. Totally bemused by it all, many people entrust their savings to fund managers (who) are as bemused as their clients…..”

Written back in ’99 – ring any bells?

I’m begging off teaching sailing and a meeting today, pulled muscle in neck giving me hell – who was that saying “pain in the neck”? I’m off down to the garden with zeb, to listen to ninetonoon, while forking compost – probably good training for a politician!

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