Moneyspider in the News

The stars, the planets, feng shui - and the stock market

FT.com

We are concerned. There seems to have been a sudden outbreak of wishful thinking in the world of finance. Some would argue that rose-tinted risk assessments have been with us for some time - but this year, we fear, is something else.

First, we received a cautionary release from Moneyspider.com: Look to reality, not the stars, for tracking down best investment profits, it read. With apologies to our US readers, it goes on:

Immensely popular in the States - where many financial fads originate - financial astrology, as the term suggests, uses planetary movements to predict the performance of currencies stock markets, property prices and other financial assets classes. Websites - predominately based in the US are currently targeting potential UK investors with spam e-mail inviting them to invest via this unconventional methodology.

We would suggest that those who take up offers in these emails have far greater problems than losing a few quid on the stock market. Is it really necessary to warn the UK population not to follow the advice of what Moneyspider director, Bill Ross, calls "a man in a pointy hat rambling on about when Mercury is rising in Gemini or whatever?"