Monday, July 04, 2005
Madcap McCrann's Money Making Method
We figure that Mr. McCrann being on a reputed $300,000 ought to have some clue on what's going on with the economy. So what we've done is to take some important excerpts from Mr. McCrann's article of last week, mixed them up in a random order, and done things like ended sentences in mid-flow, so as to both correctly summarise the information and retain Mr. McCrann's impeccable logic. Importantly also we've retained Mr. McCrann's jokes and even highlighted them so as to preserve the larfs.
If anybody had told me, or I had told you, that 12 months later our economy would have -- officially -- slowed to a walk, and to some, looking cheap.
Plus our current account deficit had yawned even deeper into the red, you would have been asking where exactly we teetered between a crisis and a full-blown disaster.
So as to the market, it's unlikely to be anywhere close to a repeat of 2004-05, which rocketed on the 'Perfect Calm' and the 'Perfect Storm
Two big messages come out of this, looking into the new financial year.
- The impossibility of predicting the future -- even the relatively narrow and perhaps more rational world of the economy and investments.
The key problem is not so much, getting the 'big picture' wrong, but much more what might be termed the 'little pictures'. That's the individual bits that matter most to investors and people generally.
If the oil price goes to $US30 or indeed lower, absent somebody inventing the much desired trick of turning water into whine -- as in whining engines -- it will mean we are in or heading into a recession or serious slowdown.
There. I hope that's helped. Any financial success that you achieve from this advice must of course be attributed to Australia's favourite business columnist Madcap Terry McCrann. If you didn't quite follow it then we suggest ingesting some LSD and then reading Mr. McCrann's full piece. Good luck and happy investing.