05 January 2007

Seeking advice about stocks? You could do worse than ask a psychic

Today's Australian at p18 (not online) has a piece "Expert stock tips 2006: how they fared" reporting the results of its annual stock tipping challenge, in which several "experts" each chose 10 stocks which they believed would perform best over the year.

The competitors included six fund managers, the Oz's Business desk team and, for the first time, a psychic.

The results: everyone, unlike the previous year, achieved positive gains, ranging from 7.7% to 71.5%. And Mr Turnbull (the psychic)? 18.3% with a cautious selection of blue chip stocks (inc BHP Billiton, Rio Tinto, four major banks and News Corp).

There's plenty of scope for this to be used in other fields, eg horse racing and, with a federal election due later this year, politics.
Had it been used for the Ashes series which concluded today there'd be some very red faces among cricket commentators.

Update 6 December

Today's Weekend Australian (at p32) has the tips for 2007, including predictions for the price of oil, gold and the value of the $A: $US.

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