Chris Budd: If Schrödinger was a financial adviser

Schrödinger‘s cat is a famous thought experiment. I came across it again recently as part of my ‘staycation' holiday reading, and it occurred to me how relevant the issue that the experiment raises is to financial planning. To those not familiar with Mr Schrödinger, let me explain his experiment. Schrödinger‘s Cat Schrödinger placed a theoretical cat inside a theoretical locked box. Also inside the box is a glass vial containing poisonous gas, with a hammer poised above, ready to break the glass. A mechanism linked to a random event (to do with the deterioration of a radioactive at...