“Championing the cause of contrarian investing since 1973″
By Alan Steel
It was 1969, my final year as a Geography and Applied Climatology student at Edinburgh University. The popular scientific consensus (what they taught all us Baby Boomers) was the CO2 levels building in the atmosphere would reflect the Sun’s rays and cause a great global cooling.
Yep, we were headed for another ice age. And they wanted to cover the polar ice caps with soot to start them melting. No joke!
Today the estimated cost of saving the climate from “changing” is about 4% of total global spending.
And the media loves it – it’s a headline maker for the ages; a thousand different editorial angles about the end of the world…costing trillions.
If you’ve not yet thought about your path to financial security, then why not do that now.
In the cub scouts in my youth, the scout leader told us to imagine entering a room and try to remember all the objects you see in it – but pay specific attention to any red objects.
Then, when you come out, imagine all anyone wants to know about are the green objects. Well, if you’d been concentrating on the red ones that’s gonna be difficult.
Same goes for being told everyday over and over again that the climate is going up in smoke, or that the stock market is rubbish, or maybe pensions are a waste of time, and that you don’t need a will because your spouse gets everything automatically anyway.
It’s rubbish in, and rubbish out.
Holding onto perspective makes all the difference.
Think about it: Consider the impact of that great big glowing ball in the sky – the one that’s about 864,000 miles across, large enough to fit about 1.3 million earths inside – and that’s constantly throwing out solar flares.
Even it hasn’t been able to melt the ice caps. Here’s a perspective on climate change you likely haven’t seen yet! The news stories and scientific meanderings are all just the red room lesson being learned all over again.
So how do you ensure you keep things in perspective?
Well, I learned back in the summer of ’69 not to follow the consensus. And even before that about the power of suggestion.
Think about what makes sense.
Then get some advice.
After all, it’s your money.
You can read more of Alan Steel’s investment insights on his blog here.
Now do this – Make sure you don’t miss these signposts. Sign up to get HNW Magazine sent to you every week. It’s free, it’s easy and you can do it right here.Follow HNW here - For the life you want to lead...