Parrot Beats Investors in South Korean Stock Market Contest
Posted by keelynet on August 15, 2009
Maybe its time to get another parrot…mine flew off a couple of years ago…
“A five-year-old parrot in South Korea has proved smarter than human investors in a stock investment contest. Ddalgi (Korean for strawberry), from Papua New Guinea, finished third in the six-week contest which ended on Wednesday, said Paxnet, an online stock market information provider. The bird competed with 10 stock investors. Each started with 60 million won (£29,000) in cyber money and traded 10 million won worth of stocks in each transaction. Human investors picked any stocks they wanted. The parrot, using its beak, made random choices from balls representing 30 blue chips including Samsung Electronics. “The outcome of our contest was amazing… Ddalgi stood third with her investment return standing at 13.7 per cent,” Chung Yeon-Dae, the Paxnet general manager said. Human investors averaged a 4.6 per cent loss, with only two outperforming the parrot – one by 64.4 per cent and one by 21.4 per cent. The human investors, who mostly chose to trade shares of small and medium-sized firms, each made an average of 190 trades over the six weeks. Organisers gave the parrot seven chances to pick shares over the same period.” – Source
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