TALKING FINANCE with Justin Baiocchi of Baiocchi Griffin Private Wealth Computer says no This is probably a feature that is standard in most cars these days, but my car has one of those tyre pressure monitoring systems. I've never really paid much attention to it, until recently, when it started beeping at me and flashed up an alert that the back left tyre was at only 15 psi, instead of the required 40. Pleased to see the technology was working as intended, I backed the car out of the garage and set to swapping out the flat tyre with the spare. Changing a tyre is not very hard, of course, but there is a fair bit of effort involved in getting the spare out, jacking up the car, swapping the flat with the spare, lowering the jack etc. So, I was pleased when the job was done, the tools were packed away, and it was time to put the car back in the garage. You can imagine my surprise (to put it mildly) when I started up the car and it beeped at me again, telling me the back left tyre was still at 15 psi. I was even more surprised, after digging out my trusty tyre pressure gauge, which showed the spare was sitting at a healthy 42 psi. By now I was beginning to smell a rat, so to speak, and checked the front left tyre and sure enough, it showed only 15 psi on the gauge. And with a clearly visible nail embedded in the tread. Aaargh! Thanks a lot car! So, I had to spend another hour swapping the flat front left tyre with the perfectly fine back left tyre. And the car then happily informed me that my back left tyre was now fully inflated! It's true, I was probably at fault for not checking the tyre pressure before indulging in the tyre swapping merry-go-round, however what the entire incident showed is that relying on technology is not always a good idea. The same potential issues of over-reliance on technology also exist in the finance industry. In certain circumstances, an over-reliance on technology can mask the underlying risks or principles of a particular investment or financial strategy. These days it's easy to trade shares on markets all over the world, to combine leverage with exotic bets on illiquid speculative products, to gamble your entire superannuation balance on a high-risk cryptocurrency bet, and of course, in the very worst example, to be conned and scammed out of your life savings through an overly generous advertisement on social media. Just like my experience with the tyre pressure monitoring function, combining technology and finance can be useful, but be sure to use your own judgement too. BAIOCCHI GRIFFIN PRIVATE WEALTH Level 1, 462-464 Peel St, Tamworth NSW 2340 6766 9000 AFSL No 424658 This article is general in nature and does not take your individual situation into account. You are advised not to act on anything contained herein, or discussed as a consequence of the contents of this document, without receiving financial advice from a suitably qualified person such as a financial planner, lawyer or accountant. Follow us on Twitter @BaiocchiGriffin Find us on Facebook facebook.com/BaiocchiGriffinPrivate Wealth www.bgprivatewealth.com.au 3499 TALKING FINANCE with Justin Baiocchi of Baiocchi Griffin Private Wealth Computer says no This is probably a feature that is standard in most cars these days , but my car has one of those tyre pressure monitoring systems . I've never really paid much attention to it , until recently , when it started beeping at me and flashed up an alert that the back left tyre was at only 15 psi , instead of the required 40. Pleased to see the technology was working as intended , I backed the car out of the garage and set to swapping out the flat tyre with the spare . Changing a tyre is not very hard , of course , but there is a fair bit of effort involved in getting the spare out , jacking up the car , swapping the flat with the spare , lowering the jack etc. So , I was pleased when the job was done , the tools were packed away , and it was time to put the car back in the garage . You can imagine my surprise ( to put it mildly ) when I started up the car and it beeped at me again , telling me the back left tyre was still at 15 psi . I was even more surprised , after digging out my trusty tyre pressure gauge , which showed the spare was sitting at a healthy 42 psi . By now I was beginning to smell a rat , so to speak , and checked the front left tyre and sure enough , it showed only 15 psi on the gauge . And with a clearly visible nail embedded in the tread . Aaargh ! Thanks a lot car ! So , I had to spend another hour swapping the flat front left tyre with the perfectly fine back left tyre . And the car then happily informed me that my back left tyre was now fully inflated ! It's true , I was probably at fault for not checking the tyre pressure before indulging in the tyre swapping merry - go - round , however what the entire incident showed is that relying on technology is not always a good idea . The same potential issues of over - reliance on technology also exist in the finance industry . In certain circumstances , an over - reliance on technology can mask the underlying risks or principles of a particular investment or financial strategy . These days it's easy to trade shares on markets all over the world , to combine leverage with exotic bets on illiquid speculative products , to gamble your entire superannuation balance on a high - risk cryptocurrency bet , and of course , in the very worst example , to be conned and scammed out of your life savings through an overly generous advertisement on social media . Just like my experience with the tyre pressure monitoring function , combining technology and finance can be useful , but be sure to use your own judgement too . BAIOCCHI GRIFFIN PRIVATE WEALTH Level 1 , 462-464 Peel St , Tamworth NSW 2340 6766 9000 AFSL No 424658 This article is general in nature and does not take your individual situation into account . You are advised not to act on anything contained herein , or discussed as a consequence of the contents of this document , without receiving financial advice from a suitably qualified person such as a financial planner , lawyer or accountant . Follow us on Twitter @BaiocchiGriffin Find us on Facebook facebook.com/BaiocchiGriffinPrivate Wealth www.bgprivatewealth.com.au 3499