What Holey Moley can show you about money


I don't get to watch too much TV these days but couldn't resist switching on Holey Moley's debut last week along with almost a million other Aussies.

Anything that merges a classic sport such as golf with It's a Knockout/Ninja Warrior entertainment was worth a look, and it didn't disappoint.

Where else would you see a contestant trying to putt while being distracted by Joe Dolce singing his 1980 hit song Shaddap You Face? Or a bunch of Brazilian Carnival dancers, or Agro the puppet?

The absurdity of Holey Moley has similarities with finance today.

It's a weird world.

We've had the biggest economic crunch since the Great Depression yet share prices are near record highs and property prices are strong.

Mini golf and fire-breathing dragons are a great combination. Picture Supplied
Mini golf and fire-breathing dragons are a great combination. Picture Supplied

People used social media to recently bring giant US investment funds to their knees by teaming up to lift the share price of struggling video game retailer GameStop to astronomical levels.

And last week the Reserve Bank of Australia told us to expect the official interest rate to stay at its crazy-low level of 0.1 per cent until at least 2024.

In strange times like these it's worth remembering a few key lessons about investing and managing money.


No matter what wackiness you read about or see in share prices, the true value of any asset emerges eventually.

The keyboard warriors who bought GameStop shares while it was surging more than 2300 per cent told each other they would never sell, theoretically keeping the price high. But many did sell, resulting in GameStop shares plunging 60 per cent in one day last week.

They sold because GameStop was hugely overvalued.

The value of any asset is purely what someone is prepared to pay for it - whether it's a company share, house, artwork or cryptocurrency.


If you've had a big win with the sharemarket, Bitcoin or some other asset, consider grabbing some profits.

Successful investors often sell to recover what they originally paid, so even if it crashes they don't lose any of their starting investment.

Concentration is needed in both golf and your finances. Picture Supplied
Concentration is needed in both golf and your finances. Picture Supplied

On the home front, record-low interest rates make it a brilliant time to wipe out as much debt as possible.

Make extra repayments, make them automatic, and avoid being seduced by cheap money tempting you to take on other debts for stuff that won't grow in value over time.


Investing is a gamble. Life is a gamble. So don't forget to diversify.

It's easier than ever to own a wide variety of assets, and you don't need mountains of cash to do it.

Do some research on micro-investing, exchange traded funds, fractional property investment and listed investment companies. They spread each dollar across a range of money-making assets.

Good times don't last forever, so you can reduce risk dramatically through diversification.

And crazy times don't last forever, even though it seems that way with the year we've had.

Watching fire-breathing dragons and giant inflatable ducks attack golfers on TV tells us that 2021 has more crazy to come.


Originally published as What Holey Moley can show you about money