The psychology of striking oil

Norman Younger
Maximiti Limited
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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.


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