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Why backing the favourite can be a high risk strategy

By William York - posted Tuesday, 9 November 2010


"To the extent permitted by law, CSIRO (including its employees and consultants) excludes all liability to any person for any consequences, including but not limited to all losses, damages, costs, expenses and any other compensation, arising directly or indirectly from using this publication (in part or in whole) and any information or material contained in it."

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I cannot find any record of the resolution of this issue but we have all learned of the fallibility of experts.

On a happier note, the desalination plant in Victoria turned out not to be needed but a chance discovery by scientists in a severed arm of the CSIRO led to the extraction of uranium from seawater. The throughput was increased by a factor of one hundred and the revenue from sales easily covered the costs of what had been seen as an ill-thought out example of infrastructure planning.

Likewise Hazelwood, shut down in blind panic when a political party thought it faced annihilation by Green electors, is now the equivalent of the Tate Modern, the old Battersea Power Station. The National Gallery (it has reverted to using its original name) turned the adjacent mine site into a sculpture park and with the lush plant growth from the extra carbon dioxide in the Latrobe Valley has established one of the wonders of the global art world.

Incidentally the Cup was won by a complete outsider called National Broadband.

I must stop here for the moment, as we are having a vote on propositions day where all electors cast electronic votes as in a referendum. Electronics has delivered us a true democracy.

Kindest regards

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Your friend William.

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About the Author

William York likes to find the funny side of life. He used to write for BRW back in the late 1980's.

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