I do not want to sound like a Christmas grump, nor someone swinging an axe to chop down a tall poppy but I am often amazed by how a magical wizardry or superior value is ascribed to people who either are sportsmen or sports celebrities (apologies for the random metaphors).
Your side reference to Andrew Demetriou (Kohler’s Week, December 13) being to me another example of this nudge, nudge, hint, hint he was a high profile on TV everyday person involved with SPORT so therefore he must be clever, logic.
Every time I see a former politician or celebrity sports figure involved with a venture, alarm bells ring.
Perhaps unfairly but so far my instincts have been right.
I also subscribe to the Switzer newsletter and recently he dropped Demetriou’s name into a newsletter along with that of Shane Warne in an exotic Middle East location, as if mentioning their names gave validity to economic thought and investment practice. Maybe in this topsy turvy investment world this is all that is needed…
Although when you read back through investment and economic history nothing really changes – the same basic principles apply to organising investments as have always applied – not relying solely on big names being one sound practice to follow.
Keep up the good work.
Thanks for the article (Kohler’s week, December 13). 100% agree with 89% of what you wrote. One aspect I think not explored is “relative dependence” over time. We are all in denial and want to rest there taking no responsibility.
President Kennedy said, "Think not what your country can do for you but what you can do for your country.”
Why has no Australian prime minister ever said such words to build nationalism, self-responsibility, innovation, independence, celebration of success (off the sporting field), and obliterate the tall poppy syndrome?
The “entitlement culture” is thriving. The “responsibility culture” is withering on the vine.
Pass the wine as I do not smoke anything and I will hope and pray this Christmas and New Year.
Regards to Alan
Please pass on my regards to Alan Kohler. He is the superstar of financial reporting in Australia and my firm wish is that he becomes my personal friend. I’ll buy the wine and take him sailing on my little sailboat. He’ll need to wear old clothes because he might get wet.