Tis the season to waste money. Joel Waldfogel at Yale University has notoriously estimated that people value the gifts they get at between 10 and 33 per cent less then they cost the giver. This suggests in the UK alone we will waste around £1bn this festive season. As Milton Friedman said: “You don’t pay anything like as much attention to the gifts you buy for other people as to the things you buy for yourself.”
Join our community of smart investors
Subscribe today and enjoy unlimited access:
- Comprehensive companies coverage
- Actionable commentary, ideas and portfolios
- Tools and data to help you manage and track investments.
- Help managing your portfolio