They are paid a fortune for their ability to make complex decisions about where to invest millions of pounds every single day. But perhaps the job of an investment banker is not quite as difficult as it might seem; or so said Will Stewart in the Daily Mail on Tuesday..He cited a chimpanzee (Lusha) in Russia that has out-performed 94 per cent of the country's investment funds with her portfolio growing by three times in the last year.
Moscow TV reported how circus chimp ‘Lusha’ chose eight companies from a possible 30 to invest her one million roubles - around £21,000. She bought successfully and her portfolio grew and grew. She did better than almost the whole of the rest of the market,' said the editor of a Russian Finance magazine.
The money-wise ape was given cubes representing different companies and asked: 'Lusha where would you like to invest your money this year?' Pausing briefing to think, she then picked out her eight cubes.
The head of monetary policy department at the Institute for the Economy in Transition in Moscow, said enviously: 'It shows that financial knowledge does not play a great role in giving forecasts to how the market will change. It is usually a matter of more or less successful guessing. And the monkey got lucky.' The monkey, owned by legendary Russian trainer Lev Dorov, split her investments between state-owned corporations and private companies.
APA can only add that recent events seem to support this claim!
Shelley, APA
3 comments:
Just checked this out with our CFO [Bubbles] and he agrees. Coincidentally he currently recommends investing in banana futures and hedge funds (the shrub variety).
Barry, this just came up on my screen as I was surfing - very witty - sounds if you deal in Neverland.
My Partner is a banker and it is very difficult being taken seriously these days. Everyone wants to take a cheap shot at him and he has heard every banker joke going. He has been paid little and takes his responsibilities very seriously. Can we have an embargo on banker bashing?
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