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Another record

A few weeks ago the Australian Stock Exchange All Ordinaries Index clocked up another record.

So what!At my age it’s easy to remember the drama and excitement leading up to Roger Bannister’s sub 4 minute mile (at the time believed impossible – man is not built to run that fast for so long!), as well as Dawn Fraser’s first ever sub 60 second,100 metres swim (again believed impossible – particularly for a woman!)

Records are meant to be broken, but there is a huge difference between human physical achievement – there is a limit even if we have not seen it yet – and the end result of a mathematical calculation (such as the All Ordinaries Index) which is a curious mixture of solid, simple arithmetic coupled with human greed and human fear backed up by real wealth whose real value is also a bit of a lottery.

Wall Street is certainly the address of the world’s biggest casino but it’s also the place where some huge big hitters punch the Bundy clock 5 days a week.

Just a place to call home!