{"id":462,"date":"2021-12-05T09:32:00","date_gmt":"2021-12-04T23:32:00","guid":{"rendered":"https:\/\/bantacsfinancialsolutions.com.au\/Nblog\/?p=462"},"modified":"2021-12-06T09:33:15","modified_gmt":"2021-12-05T23:33:15","slug":"noel-whittakers-awards-for-2021","status":"publish","type":"post","link":"https:\/\/bantacsfinancialsolutions.com.au\/Nblog\/noel-whittakers-awards-for-2021\/","title":{"rendered":"Noel Whittaker\u2019s Awards for 2021"},"content":{"rendered":"
\n

As we count down to Christmas, it\u2019s time to have some fun and recognise those who have made unique contributions to the world of money in 2021.<\/p>\n

Let\u2019s start with bitcoin. I gave it the Golden Tulip Award in 2017 for the fastest growing \u201casset class\u201d when it rose 1671% in just one year. Then in 2018 it scored the Shrinking Tulip award when it plunged from US$19,650 to just US$3225. Today I\u2019m giving it the Phoenix Award because it rose 194.2% for the year to US$56,980. This does include a fall of 9.8% in the last month. As I\u2019ve often said: you pay your money and you take your chances.<\/p>\n

The Ebenezer Scrooge Award for the most heartless assault on the vulnerable in our society goes to Beforepay \u2013 an organisation which lets you \u201cGet access to your wages instantly. It\u2019s quick and easy to use and there\u2019s no hidden fees.\u201d I first heard about them on the ABC television program Gruen. It showed one of their advertisements, showing how a person with little food in the fridge could replenish their supplies very quickly by putting it on Beforepay. Another ad showed a couple dining out in an expensive restaurant with the guy opting for something cheap because he was broke; Beforepay showed him how to order lobster immediately to impress his date. Their website says, \u201cThere\u2019s no interest or hidden fees. Just a 5% fixed transaction fee and flexible repayments with instalments across up to four pay cycles.\u201d I reckon that\u2019s an interest rate of around 36%. Old Scrooge would be jealous.<\/p>\n

The Shih Tzu Trophy for the most hackneyed excuse of the year goes to con woman Melissa Caddick, who bought herself a diamond ring with the $1.15 million her parents had given her to buy them a house. One investor handed Caddick a cheque for $450,000 made out to ComSec but, to cover up the fact she had lied about having a ComSec account, Caddick said that somehow her dog had got hold of the cheque and eaten it. Caddick, along with a big chunk of the investors\u2019 money, disappeared in November 2020 after a raid on her home. Ruff justice!<\/p>\n

The Karma Award goes to Tony Iervasi and Athan Papoulias, the guys behind the Courtenay House group of Bondi, who were offering returns better than 10% per month thanks to their skills in \u201ctrading in futures\u201d. I reported the company to ASIC for investigation, and eventually ASIC issued orders preventing Courtenay and its affiliates from carrying on a financial services business. Nearly 800 investors put money into the Courtenay House scheme, including the then Mayor of Sydney\u2019s Sutherland Shire, who invested a staggering $975,000. Many invested on little more due diligence than \u201ca mate recommended them\u201d or they \u201cheard someone was getting good returns\u201d and didn\u2019t want to miss out. At long last the pair have been charged by ASIC with a range of criminal offences, including operating a Ponzi scheme.<\/p>\n

And finally, for the sixth year running, the Red Kelpie Award (for long-term, loyal and meritorious conduct) goes to \u2026 the Australian Stock Market. The kelpie normally gives us an exciting year but despite all the gloomy headlines it was steady as she goes and upwards all the way. The index stood at 6851 on 1 January and at 7300 on the date of writing. That\u2019s a total return for the year of 15%, made up of 11% capital growth and 4% income. Okay, it hasn\u2019t given us the excitement of bitcoin, but I\u2019d rather have my long-term future in the index. Most people don\u2019t know that it has been the best performing index in the world over the last 120 years. That\u2019s one hell of a track record.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

As we count down to Christmas, it\u2019s time to have some fun and recognise those who have made unique contributions to the world of money in 2021. Let\u2019s start with bitcoin. I gave it the Golden Tulip Award in 2017 for the fastest growing \u201casset class\u201d when it rose 1671% in just one year. Then …<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":{"0":"post-462","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-investment","7":"anons"},"yoast_head":"\nNoel Whittaker\u2019s Awards for 2021 - Noel Whittaker's Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bantacsfinancialsolutions.com.au\/Nblog\/noel-whittakers-awards-for-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Noel Whittaker\u2019s Awards for 2021 - Noel Whittaker's Blog\" \/>\n<meta property=\"og:description\" content=\"As we count down to Christmas, it\u2019s time to have some fun and recognise those who have made unique contributions to the world of money in 2021. 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