Betting on a loser

A day is a long time in politics and Outsider reckons an hour became a long time in politics in late August as Money Management conducted its Future of Wealth Management conference on the Gold Coast at the same time the Liberal Party was trying to sort out its leadership crisis.

Just how quickly things in Canberra were moving was made clear when Investment Trends chief executive, Michael Blomfield told Outsider that he had made a bet that Australia could have a new prime minister before he finished his conference presentation on Key Trends in Advice.

Given that Blomfield was scheduled to speak for 30 minutes, Outsider wondered whether Blomfield had misjudged the odds.

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For his part, Outsider reckoned it was far more likely that any change in Prime Minister would occur on the closing day of the conference, Friday, enabling politicians to do their dirty work before adjourning to their electorates to determine what the voters might think.

As Money Management went to press it was safe to say that Blomfield had done his dough but Outsider still had high hopes of walking away with a dividend.

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