The psychology of striking oil

Accountants are a respectable bunch so as an FCCA I don't gamble although I do  play the stock market - strictly for fun you understand. I bought shares in an oil exploration company 6 months ago as punt. Therefore I didn't buy so many. Now they have struck oil and the price is heading north. So what am I thinking now ? That's right - "why did I not buy 10 times as much " . The reason is because I am an accountant so I am risk-averse . If so , why did I buy them in the first place ? Did I really believe in them or not?

Fascinating stuff -  I wonder if psychologists make better investors than accountants .....

Who knows - if they rise 15 fold they'll pay for the new car I just bought.

Add comment
Log in or register to post comments
This blog

I've been blogging on my website for some time with my non-PC view of the world of economics,business and other stuff. If you like to read the views of somebody who doesn't "toe the party line" you've come to the right place. Government cock-ups, financial turmoil , business scandals and people's behaviour - I've got something to say about it , whether you like it or not.