Andrew Chia, CENFIS correspondent
10.13pm, 21 April 2023
Financial intelligence is not limited to individuals or business corporations. Countries as a whole can also practice financial intelligence.
Norway is a good example of a country with a high level of financial intelligence. They make a lot of money from oil and gas. They save a healthy portion of that income. They control their spending well and are clever to invest their money saved in a sovereign fund, which is the biggest wealth fund in the world at $1.4 trillion.
70% of their investment is in stock and shares in exchanges around the world. This ratio falls within the ratio recommended by Benjamin Graham in his classic book, The Intelligent Investor. On the cover of this book, Warren Buffett wrote a little note that says, "by far the best book on investing ever written."
There are many countries with much bigger oil revenues but their either spend or squander all their wealth, leaving the countries and their citizens poor. If Norway's wealth fund is distributed among its citizens, every one of them would be millionaries many times over.
If all the countries in the world are as financially intelligent as Norway the world would be a much better place.
Our article for today,
Learning message: Individuals, corporations and countries alike should study and practice financial intelligence.
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