The Psychology of Money - An Investment Manager\'s Guide to Beating the Market

On the lighter side, I’ve been playing around with another factor:

intelligence. Most Wall Street money managers jam their portfo-

lios full of companies that are run by the best and the brightest:

graduate degrees from top universities, sizzling IQ scores, Mensa

members, and so on. All this despite Peter Lynch’s warning that

“you should buy stocks of companies that any fool could run,

because eventually one will.” Well, what about diversifying into

the companies run by the duller crayons? The managers who are

looking for toast in the bread aisle? Meantime, some readers’ re-

action is, “Okay, but how would you identify the companies

with the not-so-bright management?” Herewith I offer Exhibit A

identifying my top 10 candidates for the Dumb and Dumber port-

folio (these labels were found on actual products on the store

shelves):

10. On some Swanson frozen dinners: Serving suggestion:
    Defrost.


11. On an American Airlines packet of nuts:Instructions: open
    packet, eat nuts.


12. On a bag of Fritos: You could be a winner! No purchase
    necessary. Details inside.


13. On a bar of Dial soap: Directions: Use like regular soap.


14. On a Sears hair dryer: Do not use while sleeping.


15. On Tesco’s tiramisu dessert package (printed on the
    bottom):Do not turn upside down.


16. On Marks & Spencer bread pudding: Product will be hot
    after heating.


17. On Boot’s Children’s cough medicine: Do not drive car or
    operate machinery.


18. On packaging for a Rowenta iron:Do not iron clothes on
    body.


19. On Nytol sleep aid:Warning: may cause drowsiness.

Any questions?

Guidelines for Safety 159

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