TALKING FINANCE with Justin Baiocchi of Baiocchi Griffin Private Wealth Never judge a book... As I have a fairly lengthy commute to work each morning, accompanied by three children, each with the attention span of a goldfish, audiobooks have become mandatory. It was a revelation when we first tried an audiobook on the way to school and the three of them sat there in complete silence, totally engrossed in the story. None of the usual arguing, nagging and fighting, which would usually culminate in me threatening to drop the whole bunch of them off at the nearest police station. I appreciate that dropping off my annoying children at a police station is not really an appropriate use of the police's time, but it sure works a treat as a threat. Anyway, audiobooks have worked wonders and over the years we have read literally hundreds of books together. The only tricky aspect, however, is in choosing a book to listen to. Often times, regardless of the old saying, we do choose books based on their cover. If it has a dragon on the cover, that's usually a good sign. A wizard or a witch- like figure on the cover also gets a tick, as most fantasy novels tend to be enjoyed by all of them, regardless of the age discrepancies. Sometimes we do get it wrong - a recent pick appeared to be a story about a young boy playing online roleplaying games - an innocent enough topic, until we were only a minute into the book and the main protagonist dropped a particularly unwholesome version of the f-bomb, promoting a very quick shutdown. To a certain extent, choosing an audiobook is like choosing investments for your portfolio. From the outside, a potential investment opportunity may seem perfect some innovative technology perhaps, or maybe a charismatic CEO, or even a groovy name or logo. It's easy to be sucked in by the hype or 'story' around a company, especially when it's fresh, new and exciting. Usually, these types of opportunities are spoken of as 'the next best thing' or even worse, 'this time it's different'. Unfortunately, few of these 'unmissable' opportunities tend to live up to their billing. Theranos and its CEO and founder, Elizabeth Holmes (who is currently serving out an 11-year prison term), are probably the most recent shining example of investors being fooled by the 'cover' of a seemingly incredible investment story. While great opportunities do exist and are more numerous than one might think, an investor's default starting position should be one of scepticism. Yes, being a dull and boring cynic, who questions everything, may not seem like fun, but it can be worth it in the end. By all means judge a book by its cover, but don't do the same when investing your hard-earned life savings. BAIOCCHI GRIFFIN PRIVATE WEALTH Level 1, 462-464 Peel St, Tamworth NSW 2340 6766 9000 AW7391487 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 TALKING FINANCE with Justin Baiocchi of Baiocchi Griffin Private Wealth Never judge a book ... As I have a fairly lengthy commute to work each morning , accompanied by three children , each with the attention span of a goldfish , audiobooks have become mandatory . It was a revelation when we first tried an audiobook on the way to school and the three of them sat there in complete silence , totally engrossed in the story . None of the usual arguing , nagging and fighting , which would usually culminate in me threatening to drop the whole bunch of them off at the nearest police station . I appreciate that dropping off my annoying children at a police station is not really an appropriate use of the police's time , but it sure works a treat as a threat . Anyway , audiobooks have worked wonders and over the years we have read literally hundreds of books together . The only tricky aspect , however , is in choosing a book to listen to . Often times , regardless of the old saying , we do choose books based on their cover . If it has a dragon on the cover , that's usually a good sign . A wizard or a witch- like figure on the cover also gets a tick , as most fantasy novels tend to be enjoyed by all of them , regardless of the age discrepancies . Sometimes we do get it wrong - a recent pick appeared to be a story about a young boy playing online roleplaying games - an innocent enough topic , until we were only a minute into the book and the main protagonist dropped a particularly unwholesome version of the f - bomb , promoting a very quick shutdown . To a certain extent , choosing an audiobook is like choosing investments for your portfolio . From the outside , a potential investment opportunity may seem perfect some innovative technology perhaps , or maybe a charismatic CEO , or even a groovy name or logo . It's easy to be sucked in by the hype or ' story ' around a company , especially when it's fresh , new and exciting . Usually , these types of opportunities are spoken of as ' the next best thing ' or even worse , ' this time it's different ' . Unfortunately , few of these ' unmissable ' opportunities tend to live up to their billing . Theranos and its CEO and founder , Elizabeth Holmes ( who is currently serving out an 11 - year prison term ) , are probably the most recent shining example of investors being fooled by the ' cover ' of a seemingly incredible investment story . While great opportunities do exist and are more numerous than one might think , an investor's default starting position should be one of scepticism . Yes , being a dull and boring cynic , who questions everything , may not seem like fun , but it can be worth it in the end . By all means judge a book by its cover , but don't do the same when investing your hard - earned life savings . BAIOCCHI GRIFFIN PRIVATE WEALTH Level 1 , 462-464 Peel St , Tamworth NSW 2340 6766 9000 AW7391487 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