The Alchemist - Out of the mouths of babes… and ATMs

THE ALCHEMIST

Warren Buffett had said it, over and over again. So had Bill Gross. But the gurus were not getting through to the investing public, which was still in a baffled but pleasant daze.

In November 2007, the US dollar had been on the slide for months, but it seemed rude to allege the world’s reserve currency was not quite what its makers cracked it up to be. Then Gisele Bündchen, the Brazilian supermodel who habitually earns tens of millions a year, signed a contract to represent Pantene hair products for Cincinnati-based Procter & Gamble. It was leaked to the local gossip mags that she had asked – well insisted, actually – she be paid in “any other currency than the dollar”. Her twin sister and rather steely manager Patricia indicated they would be prepared to take ...