The number one hit on the U.S. Billboard Hot 100 in January 1973 was Stevie Wonder’s “Superstition”. A catchy and simple song, Wonder recounts various superstitions people act on, or believe in, before launching into a chorus that reminds us it’s better to focus on facts over feelings, fiction, or hocus pocus.
When you believe in things
That you don’t understand
Then you suffer
Superstition ain’t the way, yeah
Many of us are prone to superstitions and it’s not just breaking mirrors or walking under ladders. They can also crop up in investment and economic spaces. You might assume people who work with and have access to large sets of data would be immune, but for some reason many people in the financial space still feel superstitious about certain times of the year. Particularly October, specifically because a couple of market crashes have occurred in October.
In early October, Shane Oliver, AMP’s long term chief economist, recounted how he’d always feel uneasy in the back end of the year. Mostly due to the October ‘87 market crash.
Read the full “Superstitious About a Time of Year?” post.
This represents general information only. Before making any financial or investment decisions, I suggest you consult a financial adviser to take into account your personal investment objectives, financial situation and individual needs. Anyone looking to build a portfolio should seek financial advice to find out which strategy is right for them, if you are a looking for a financial adviser in Canberra, MFG now have an office covering the region. They can help you identify your goals and put in place a reliable strategy to pursue them.
