Cat Chews up Professional Stock Pickers
One of my readers sent me a link to an amusing article about a cat that won a UK stock-picking contest.
Named Orlando, he squared off against two other teams: a group of kids, and some hand-picked professional investors.
The Guardian reported their year-end 2012 results, awarding Orlando top honors. “While the professionals used their decades of investment knowledge and traditional stock-picking methods, the cat selected stocks by throwing his favourite toy mouse on a grid of numbers allocated to different companies.”
After accepting the award, Orlando purred that he won’t be managing a mutual fund anytime soon. He may have beaten the pros, but he underperformed Vanguard’s FTSE UK stock market index. The cat earned 10.84 percent, with the index earning 12.2 percent.
Orlando was last seen opening an indexed portfolio with Vanguard. What a cool cat.