For some weeks Professional Pensions has been advertising a “complexity premium” webinar where Allianz will be selling the advantages of investing in “trade finance”.

I’m on Warren Buffet’s side here, if I find something complex, I avoid it -if an idea is simple, I embrace it. But I am aware of the attractions of the obscure, the opaque and inaccessible. It has the allure of the Gold in Ali Baba’s cave.

And it is particularly delicious to be the possessor of complex information if you are able to sell it on to others. “I’ve got a horse” came the cry from Glorious Prince Monolulu, heard from Petticoat Lane to the Epsom Downs

When anyone bought a tip from him (at Epsom at the height of his fame he would charge ten shillings) he’d hand over a sealed envelope inside of which was the name of the horse written with careful handwriting on a piece of paper. He’d lean over to the punter and whisper:

“If you tell anyone, the horse will lose”.

It seems that many people shared the horse, for few of them ever won – but no-one ever complained.

So I wish you luck as you embark on the speculative and complex world of trade finance with Allianz. You and your clients will no doubt find it well worth the price of admission (free), you will not have to purchase an envelope but your prize may be just as elusive.

https://webinars.professionalpensions.com/pp-allianz-harnessing-the-complexity-premium/register