Investment managers probably do not need much advice from authors about investing in stocks - particularly that dispensed by Mark Twain.
Launching the fifth Rehab Great Investment Race yesterday, radio presenter Matt Cooper reminded the gathering of the city's finest fund managers of Twain's musings on investments. "October. This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February."
Given that the fourth race last year raised €183,000 for Rehab in an investment climate that was far from easy, some of those months may not have turned out to be as dangerous for investing as the American writer thought.
This year, the charity investment contest has attracted five players: AIB Investment Managers, Bank of Ireland Asset Management, Irish Life Investment Managers, KBC Asset Management and Oppenheim Investment Managers.
All eyes will be on Oppenheim, which put in a storming finish year to take the top spot. The fund reaped the benefits of some frenetic trading to push it into overall first place, with a total return over the contest of 81.8 per cent. This brought the value of the fund to €181,802 - more than €34,000 ahead of its nearest rival, the second-highest ever amount raised in the Rehab race series.
More than €700,000 has been raised, said Rehab Group chief executive Angela Kerins, "to research international best practice in the provision of services to individuals with autistic spectrum disorder".
Rehab will be hoping that the fund managers do not heed the advice given by Mr Cooper - that the safest way to double your money is to fold a note in two and put it back in your wallet.
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