stock selection checklist
The British Observer newspaper's 2012 stock picking challenge was won by an unusual competitor: a cat called Orlando.
When I saw this, I wasn't surprised. Cats, unlike dogs, have the ideal abilities and temperament for stock selection.
The Observer set up its challenge with three competitors: a panel of three professional investment managers from top quality houses, a team of high school students, and Orlando. Pretty tough competition for the cat, one would think.
Yet at the end of the year, it wasn't even close.
Orlando had turned his 5,000 pounds into 5,542.60 pounds, the professional investment managers had turned theirs into 5,176 pounds and the high school students had managed to lose money, ending at 4,840 pounds, a sad commentary on the quality of modern British education.
By year's end, Orlando earned an 11.09% return, more than three times the 3.52% gains the professionals delivered.