Opinion
The only certainty is uncertainty
JEREMY BLATCH / jb@ehh.gi
...to Warren Buffett, the art of successful investing at its most fundamental is perhaps best illustrated by one of Aesop's fables. Written circa 600 BC, the fable concludes that 'a bird in the hand is worth two in the bush'. In the context of investing, ... the 'bird in the hand' is the prevailing interest rate, and the 'two in the bush' is the potential growth of capital over time. What Aesop did not know was the interest rate, how many birds there would be in the bush and how long they would be there.