Tuesday, August 18, 2009

Bird Hammers Humans When It Comes to Investing

Oh, dear. More bad news for the investment community, from the Telegraph (via Arbroath).

With a 13.7% return, a five-year-old parrot named Ddalgi won a third place finish in a South Korean stock investment contest sponsored by Paxnet, an online stock market information provider. The parrot trounced seven human investors, who averaged a 4.6% loss. The only two humans to outperform Ddalgi realized investment returns of 64.4% and 21.4%, respectively.

The human investors chose whichever stocks they wanted; Ddalgi, using its beak, made random choices from balls representing 30 blue chip companies. Each investor started with 60 million South-Korean won ($48,438) and traded 10 million won ($8,073) worth of stocks in each transaction.

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