News
A lesson in what not to do

By Michael O’Connor
The S&P 500 ended last week down 14%, a bitter pill to swallow for many investors. Still, these losses pale in comparison to the earth-shattering declines that some of the more speculative sides of the market are currently experiencing.
Today's article – A lesson in what not to do.
The tech-led NASDAQ index is down 22% in 2022. ARKK, once the highest-flying tech fund on Wall Street, has come crashing down to earth, down over 70% from its highs and lastly, spare a thought for those taking maximum risk; NFT and Altcoin traders are getting their faces ripped off as we speak.
But didn't we all know this was going to happen?
Didn't the incessant and illogical rise of these speculative Crypto and Tech positions have to end in tears eventually?
The simple answer is yes.
But the 'when' and 'how' were always unknown.
When everyone is playing and winning, it's easy to convince yourself that you can play and win as well. It's hard to imagine the music stopping when it has been playing for so long.
People do crazy, illogical things all the time, even when they know better. This isn't the first time that greed pushed investors towards self-destruction, and it certainly won't be the last.
This article isn't intended as a snide rebuke of the investors who hold these positions. Many of those currently watching their trading accounts crater also made phenomenal gains in 2020 and 2021.
This is merely a cautionary tale highlighting that markets are cyclical, investment strategies come in and out of favour, and nothing lasts forever.
Most importantly, always know the difference between speculating and investing.
As humans, we are drawn to speculation. We buy lotto tickets not based on probability but on hope. You can ignore the statistical improbability of winning by uttering four naïve but equally alluring words: "ya, but what if".
After all, technically speaking, 'it could be you'.
In recent years, many people 'invested' in their stock position based on the same rationale. It wasn't based on the company's solid fundamentals or attractive free cash flows; it was determined purely on the basis of 'what if?'. What if it continues going up? What if it doubles again? Let's face it, for many; this argument can be far more enticing than any precise financial projections.
There is nothing technically wrong with this speculative approach, provided you realise you're doing it, and it is done in small doses. Still, you need to separate this from your investing portfolio. They're not the same thing.
90% of your assets should be positioned to generate returns over the long term. Your focus should not be on betting it all on a low probability outcome with the outside promise of winning it big.
This seems obvious, but many convince themselves they are investing based on probability and risk-adjusted returns when they are actually just closing their eyes, crossing their fingers and spinning the wheel.
Make sure you know the difference.
Investing 101
Create a balanced and diversified portfolio of equities, real estate, commodities and alternatives based on your view of the world in the future, your time horizon and your risk tolerance.
Invest in indexes you believe will be successful over the long run and then allow enough margin for error through diversification to protect when you are wrong.
And you will be wrong, but that's ok. You just need to be right more often than you are wrong.
If you would like to learn more about how to start investing, go to theislandinvestor.com.
News
Fossa School says ‘bonjour’ to French classes

Fossa National School is giving its pupils a headstart in learning a new language.
The school signed up to Language Sampler scheme as part of the ‘Say Yes to Languages’ initiative in primary schools organised by Post Primary languages Ireland in 2021. This is the school’s third year running the module.
Hélène Olivier-Courtney, the school’s French teacher and director of French For All Killarney School of French, covers ten schools in Kerry over the three terms.
The success of the initiative relies on an all-school approach and the active involvement of class teachers and management.
“The whole staff in Fossa certainly helped make this new journey a special and enjoyable experience for the children as we learnt French through art, songs, games and food tasting! This year, we also organised a catwalk on our last day. Our sixth-class students will have such a head start before secondary school and most importantly will have develop curiosity interest and love for the language,” said Hélène.
News
Opinion: Silent majority needs to stand up and call out far-right hate

By Chris Davies
Last Friday’s Dublin Riots should not have come as a surprise to anyone. It has been bubbling under the surface of Irish society for a good number of years now. The actions of a small minority last week was a culmination of years of racism, hatred and misinformation shared online by far-right groups.
Late on Friday night a disturbing WhatsApp voice note was doing the rounds on social media where a far-right actor could clearly be heard encouraging violence on the streets of Dublin.
“’Seven o’clock, be in town. Everyone bally up, tool up…Any foreigner, just kill them”
Watching the Riots unfold on social media brought me back to when I was working in Dublin a number of years back. My morning commute from Skerries to the city centre involved a dart to Connolly Station followed by a short trip on the Luas to the Jervis. Every week, without fail, I would witness at least one racial slur or attack on someone who didn’t fit the narrow minded view of what an Irish person should look, dress or talk like. I don’t know if it is the eerie silence of public transport that seems to amplify the situation, but that’s where I found it to be most common. The abuse was usually perpetrated by a group of youths or someone who was clearly under the influence of drink or drugs. The victims were always of colour, often dressed smartly enough to presume they were on their way, or coming from work. A far cry from the perpetrators who you could tell were roaming aimlessly around the city looking for trouble.
While shameful to admit, I would often look on and watch the abuse unfold, only to spend the rest of my work day thinking about the poor person who was told to “F*&K off back to your own country”. I would sit at my desk questioning why I didn’t step in and say something. There were one or two occasions where I did step in and call it out, but not nearly often enough.
This disgusting behaviour is much more visible in our cities. Since moving back to Killarney I wouldn’t witness as much direct abuse on the streets but working with the Killarney Advertiser I would be tuned in to local news and some of the comments I read on our social platforms are far worse than anything I witnessed during my time in Dublin.
There is a significant group of people in Ireland that I would call the ‘silent majority’. We are not as outspoken on issues we care about. We tend to observe and consume the news quietly, and only speak of our support or disgust on certain issues in close circles, too afraid we might offend someone. The problem with this is that we are leaving these far-right groups unchallenged, to become louder, more aggressive and more hostile as seen last week.
The past week Sinn Fein and the Social Democrats have been busy in the media expressing no confidence in Justice Minister Helen McEntee and Garda Commissioner Drew Harris but I would suggest that there is a large percentage of the Irish population that bears some of the responsibility. We witness racism in our communities and online every day and we need to start speaking up and calling it out.
On the issue of immigration in Killarney, there is no doubt resources are being stretched and our tourism industry is suffering as a result of an influx of immigration. Locals have also raised concerns in relation to the placement of so many male international protection applicants in one setting and we only have to look back on the incident in Hotel Killarney last year where a number of men were involved in a harrowing stabbing incident to see how that played out.
However, being concerned around immigration is not the same as anti-immigration. It is important to raise these issues with local representatives and Kerry TD’s but also to separate ourselves from far-right groups who are only interested in encouraging violence.
The anarchy we witnessed last week should never be the answer and research shows it is completely unnecessary. Harvard University have looked at hundreds of protests over the last century, and found that non-violent campaigns are twice as likely to achieve their goals as violent campaigns and that it only takes around 3.5% of the population actively participating in the protests to ensure serious political change.
Let’s continue to protest peacefully for issues we believe in, but stand up and speak out against people and movements in our community that incite hate and violence.