They're tough mudders in Tipp
Published 22/07/2015 | 02:30
Being an avid reader, I frequently write on what I consider are the best of the many books I have acquired. Occasionally I get taken to task for mentioning one that is long out of print but readers should take note that there are excellent internet bookstores such as Kenny's bookshop, Alibris, AbeBooks and others who stock a huge range of both current and out of print literature, frequently at very reasonable prices.
One particular favourite is about the life of the legendary stock market trader, Jesse Livermore, who, having correctly foreseen the 1929 economic crash, sold the markets short and made approximately €14bn in today's money from that investment yet he died virtually penniless.
"The average man desires to be told specifically which particular stock to buy or sell.
"He wants to get something for nothing. He does not wish to work. He doesn't even wish to have to think," according to one of his more famous quotes.
All of this of course reminds us of the relatively recent lunacy in the property markets in Ireland and the recent banking inquiry hammers home the lesson that during that time, people ceased to think for themselves and simply followed the herd, buying houses they couldn't afford in the belief that such a thing as easy profits existed.
It was really amusing to hear some of the politicians who were in power then denying any culpability for allowing the boom to run unchecked.
I recall that when house prices were really taking off, capital gains tax was halved and the section 23 tax breaks were introduced to further fuel the flames.
Do you remember Bertie Ahern's famous quote "The boom is getting boomier"?