My Trump money lesson
Donald Trump made a monkey of the media.
Not only didn’t the world’s media believe he could win the US presidential election, but it also ran stories promising global share market meltdowns if he did.
This mattered to people here as around a third of KiwiSaver money is invested in shares listed on overseas sharemarkets.
So pervasive was the preelection Trump-as-economic-antiChrist coverage, that a lot of people, myself included, wondered about selling all my investments and putting everything into cash.
I didn’t, though I did drag my feet on reinvesting some money in case a Trump victory led to markets crashing.
In my job, I get to hear a lot of people’s forecasts for the future. They are often wrong. That’s not surprising. They are humans.
To be human is to be wishful, and wishful thinking leads us to be wrong about the way the world really works.