by Nick Hubble, Daily Reckoning.com.au:
Remember when Italy’s botched election was big news? Or when Greece’s impending default threatened the entire Eurozone? What about Germany’s constitutional court ruling on the bailouts?
In fact, there is a long list of crises stretching back years that threatened to trigger financial chaos. But it just never seems to happen. Instead, the American stock markets reach new highs and the ASX is doing well too. So who cares about Cyprus?
That sort of thinking will get you and your finances into trouble eventually. Let’s call it the ‘Russian Roulette Fallacy’. How many Russian Roulette losers are around to warn you about the risks of playing? Not many. Does that mean the risk is small? Nope.
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