Bacon is bad. WHO tells us it’s carcinogenic, doctors will tell you it’s rubbish for your heart and if you are of a particular religious persuasion, God/Allah demands you ‘don’t touch it’. Basically, Bacon gets a bad rap.
However, this is only one side of the story.
There is significant confusion and contradicting evidence amongst scientists globally on bacon. A typical 3.5-ounce portion of quality cooked bacon contains approximately 37 grams of animal protein and healthy amounts of Vitamins B1, B2, B3, B5, B6, & B12, which are vital for cognitive functioning.
Bacon also contains impressive amounts of iron, zinc, magnesium and potassium, as well as a form of phosphatidylcholine (try saying that out loud!), which apparently sports antioxidant properties more potent than those of Vitamin E!
So consuming bacon in moderation is actually good for you, and that’s now backed up by the latest review of global studies on bacon that shows that cutting out bacon actually plays virtually no part in improving your long term health.
So what does bacon have to do with investing in alternative finance? Take P2P, it suffers from the same bad rap as bacon.
The mainstream press constantly reports doom and gloom; queries whether it can handle an economic downturn etc., and the FCA, always playing catch-up, issue draconian rules like limiting portfolios to 10% when other assets classes like spread betting etc. are untouched. It all sends a message to investors that P2P is the ‘bacon’ of the investment world.
Yes, the industry has had a couple of horror stories, yet despite this, a very large number of investors have enjoyed returns far outstripping mainstream investments, even after bad debts and fees. There will be issues with COVID-19 for sure, but that’s going to hit all asset classes.
Rather than demonising P2P we should be celebrating it. The industry has achieved strong returns for so many, trying to protect and grow their investment pot during record breaking low interest rates and volatile markets.
So this lunchtime I’m celebrating the successes of P2P with a BLT.