By Karl Pilkington, Ricky Gervais, Stephen Merchant
Proposing the go back and forth Diaries of Karl Pilkington: Adventurer. thinker. Knob head. Karl Pilkington isn’t partial to vacationing. Given the alternative, he’ll pass on vacation to Devon or Wales or, at a push, consume English nutrition on a package deal vacation in Majorca. Which isn’t precisely Michael Palin, is it? So what occurred whilst he used to be confident by means of Ricky Gervais and Stephen service provider to head on an epic experience to determine the Seven Wonders of the realm? go back and forth broadens the brain, correct? You’d imagine so...
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Extra resources for An Idiot Abroad: The Travel Diaries of Karl Pilkington
And 9,999,999,999 of these people are going to get screwed because the guy who started the pyramid has run away with all the five-dollar bills. , and elsewhere. But the people of Albania still managed to scratch together some cash. Like American baby boomers, they were worried about the future. So, like baby boomers, they invested. The Albanians invested in pyramid schemes. The pyramids grew. People were getting rich, at least on paper. And then, in 1997, the pyramids collapsed. Albanian reaction to the financial disaster was philosophical—if your philosophy is nihilism.
This is why we shouldn’t be investing in stocks. We should invest in mutual funds. s searching out asymmetrical information. s discovering the same asymmetrical information, which makes the information all symmetrical again. This is why we should invest in index funds. The problem is, index funds contain the same stocks that make up the Dow Jones Industrial Average or the like. Index funds will go where the stock market goes. And where the hell is that? This information is so asymmetrical, nobody knows it.
Thais couldn’t buy calculators, stereos, and VCRs—they’d all been exported—so Thais bought overpriced real estate and cockeyed stock issues. Thailand had risky debt, bad debt, and worse equities. Maybe owning baht wasn’t such a good idea. Currency traders sold baht. The government of Thailand bought baht, using the foreign currency it had from exporting calculators, stereos, and VCRs. ” Devaluation simply means admitting that your currency is worth less compared with other currencies, but no government likes to do it.