‘He who lives by the crystal ball will eat shattered glass’
🔸 Plus: Sweden’s “soft girls” are quitting their jobs to be dependent on their men 🔸 The market for rare whisky has collapsed 🔸 The average UK house price is now nearly £300,000 🔸
Your 2-minute guide to demystifying money and making you richer
The markets, year-to-date
S&P 500: 6,090.27 ⬆️ 28.41%
FTSE 100: 8,308.61 ⬆️ 7.60%
Bitcoin: $99,559.11 ⬆️ 125.22%
GBP to USD: $1.2745 ⬆️ 0.14%
GBP to EUR: €1.2053 ⬆️ 4.53%
(As of Friday market close.)
Having a crystal ball won’t make you rich
What if you could go back in time and make investment decisions all over again? Wouldn’t it be great to rewind just five years and plough all your savings into Nvidia stock, when it was about $5 a share? Sit back and wait. Today it’s trading at around $142. You’d have made gains of 28 times your original investment.
If you could have scratched together £5,000 in 2019 you’d be sitting on about £140,000 right now.
That’s the perfect scenario.
But in real life, it turns out that knowing the future is almost useless when it comes to stocks.
Back to the future
Two researchers, Victor Haghani and James White of Elm Partners, devised a game in which they gave “investors…