{"id":609,"date":"2007-05-09T11:46:00","date_gmt":"2007-05-09T11:46:00","guid":{"rendered":"https:\/\/clusterfamilyoffice.com\/blog\/?p=609"},"modified":"2007-05-09T11:46:00","modified_gmt":"2007-05-09T11:46:00","slug":"leyendas-urbanas-y-leyendas-financieras","status":"publish","type":"post","link":"https:\/\/clusterfamilyoffice.com\/en\/leyendas-urbanas-y-leyendas-financieras\/","title":{"rendered":"Urban legends and financial myths"},"content":{"rendered":"
\"\"<\/a>An excellent adaptation of a folk tale for real life. Under the title \u00abThe game of<\/span><\/span> Greatest <\/span><\/span>Fool<\/span><\/span><\/a> \u00bbWe can read an informative article by Fernando Calatayud<\/a> where we see that, as is the case often<\/span>, reality is stranger than fiction. I recommend you read it because it\u2019s well worth it, just like \u00abAstroc in hindsight<\/a>\u00ab.<\/div>\n
For our part, we might add that all this is accompanied by a series of financial myths which, just like urban myths, some people actually believe! I\u2019ll give you an almost real-life example so as not to offend anyone, Astroc<\/span><\/span> at levels of 67-odd, 2 February:<\/p>\n

Call from Mr Pardillo<\/span> very nervous: \u00abHe told me So-and-so<\/span><\/span><\/span> that Astroc<\/span><\/span> is about to really take off (sic<\/span><\/span>)\u00bb.
So-and-so<\/span><\/span><\/span> is a private banking manager at the bank <\/span>Tax Haven<\/span><\/span><\/span>, and therefore its credibility in a tie<\/span><\/span> and personified.
So-and-so<\/span>: <\/span>\u00abGo for it<\/span> upside down because a senior accountant from Astroc<\/span> \u00bbHe has an account with this bank and has just bought 6 million euros.'.
Pardillo: <\/span><\/span>\u00abI don't know, let me ask my advisers\u2026\u00bb
So-and-so<\/span>:<\/span> \u00abI've bought everything I could, and so has my family \u2013 don't worry, as soon as I see the order<\/span> the accountant\u2019s sales, before<\/span> \u00bbIf they sell theirs, we\u2019ll sell ours. Don\u2019t worry.\".<\/p><\/blockquote>\n

My goodness, the opportunity everyone dreams of: to faithfully follow in the footsteps of a insider<\/span><\/span> It was coming true! And from none other than Astroc<\/span>, what a sweet treat<\/span>\u2026 The fact is that we were unable to prevent Mr. Pardillo <\/span>buy half of half of what he would have wanted. So-and-so<\/span> <\/span>I couldn't believe that Mr Pardillo<\/span> If they didn\u2019t give it their all, it would be the opportunity of a lifetime! They almost ended up falling out, even though they were two old friends. The story ended \u00abfortunately<\/span>\u00bbOn 5 March, it was trading at 47 and a half.\". So-and-so<\/span><\/span>, his tie and his family have been badly affected, although he remains a highly respected bank manager. In fact, the grey hairs caused by the distress will make him seem even more credible and venerable. But the worst thing is that Mr Pardillo<\/span> is now moderately positioned in Avanzit<\/span>, although, as he puts it, \u00abhaving learnt his lesson\u00bb.\"\"<\/a><\/div>\n

I don\u2019t know if any accountant at Astroc<\/span> whether or not he has a secret account through which he invests millions of euros in even more unsavoury dealings, At this stage of the game, I don\u2019t even care<\/span>. But I regard it as a financial myth on a par with the urban myths we\u2019ve all heard at some point, although this time it\u2019s come rather close to the mark. In fact, the closer it seems to home, the more devastating its effects can be \u2013 like a bomb. But that\u2019s the way the world is: horses will continue to be sold as long as there are suckers, just as there will always be TV<\/span>-rubbish as long as it has an audience\u2026 Come to think of it, will there ever come a day when we\u2019ll also have finance blog<\/span>-rubbish? I\u2019m afraid that someone<\/span> will also benefit media-savvy<\/span> of financial legends, or perhaps it already is are<\/span> doing.<\/div>","protected":false},"excerpt":{"rendered":"

Excelente aplicaci\u00f3n a la vida misma de un cuento popular. Bajo el t\u00edtulo \u00abEl juego del Greatest Fool \u00bb podemos leer un did\u00e1ctico art\u00edculo de Fernando Calatayud donde comprobamos que, como sucede a menudo, la realidad supera la ficci\u00f3n. Os recomiendo que lo le\u00e1is porque, no tiene desperdicio, as\u00ed como \u00abAstroc a toro pasado\u00ab. Por […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-609","post","type-post","status-publish","format-standard","hentry","category-sin-categorizar"],"_links":{"self":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts\/609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/comments?post=609"}],"version-history":[{"count":0,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts\/609\/revisions"}],"wp:attachment":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/media?parent=609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/categories?post=609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/tags?post=609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}