Photo by Violet Blue, found via Joi Ito.
Last week, Mossack Fonseca was a name unknown to most people who don’t need to squirrel money away in shell corporations. With the release of the Panama Papers, they’re now a household name, and not in the good way. Now you can buy the completely unauthorized T-shirt for $25 at RedBubble.
The Onion may have been playing it up for laughs when they wrote the article titled Billionaire Reading Name In Panama Papers Totally Forgot He Even Had Funds In Seychelles, but like some of their best articles, there’s a surprisingly big nugget of truth in it.
Fidelity Investments did a study of their customers’ investment accounts that performed the best, and one key factor they had in common was that their owners had forgotten about them. Or at the very least, the customers acted as if they’d forgotten about them and simply left them alone.
A lot of this stems from the fact that by and large, we’re terrible at investing. The chart below shows the performance of the “average investor” was below most markets. Even cash — in the form of 3-month T-bills) did better:
It may seem weird to get real-world-applicable truth from a comedy site, but remember that these days…
Found via TJ Fixman. Click the photo to see the source.
Seriously, it’s hard to tell the difference between the guy above and the guys in the video below…
Found via imgur. Click the photo to see the source.
…and if you’re standing naked on your front porch and you can see that your neighbor is also standing naked on the front porch, it’s Florida.
Well done, sir. Well done.