Sophie Ellis-Bextor

Philately is normally a boys' hobby but for some reason it was in vogue at my junior school. Between the ages of eight and ten I collected avidly. I'd pore over my Stanley Gibbons book, obsessively checking my collection's value. I always hoped I'd stumble across a really valuable one, a Penny Black or an Inverted Jenny, but it wasn't to be.

The market is incredibly inefficient and capable on rare occasions of being utterly dysfunctional. And people have a really hard time getting their brain around that fact. They want to believe that it's approximately efficient almost all the time, and it simply isn't true.