What The Model Millionaire teaches you about sentiment

Matthew Partridge explains what Oscar Wilde's The Model Millionaire can teach investors about market sentiment.

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Oscar Wilde had a thing or two to teach investors

The Model Millionaire, first published in 1887, is a short story by Oscar Wilde. It tells the tale of Hughie Erskine, "a delightful, ineffectual young man with a perfect profile and no profession" who needs £10,000 before his fiance's father will allow him to marry her. One day, Hughie visits an artist friend who is painting a beggar. Moved by the beggar's apparently shabby condition, Hughie gives him a sovereign (£1) and has to walk home. The next day his friend reveals that the "beggar" was actually a millionaire in disguise, who rewards Hughie's generosity with a cheque for £10,000, enabling him to get married.

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Dr Matthew Partridge
Shares editor, MoneyWeek

Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.

He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.

Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.

As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.

Follow Matthew on Twitter: @DrMatthewPartri