John Maynard Keynes, a very successful investor, remarked that knowing what an investment should be worth may not be as useful as knowing what everybody else thinks it should be worth.
This insight inspires our new competition, which requires you to forecast both the FTSE-100 Index and the average of other entrants' forecasts.
You must enter by fax to 01428 642513, before 5pm on 10 OCTOBER 1997.
Head your fax, Management Today Third Degree Competition. Include your name, address and answers to these two questions:
1 What will the FTSE-100 Index be at the close of business on the Friday 31 October?
2 What will be the average of all the answers received by Management Today to question 1?
The first winner will be the person whose answer to question 1 is closest (including one decimal point) to the figure for the FTSE-100 Index published in the Financial Times on Saturday, 1 November.
The second winner will be the person whose answer is closest to the mean of the answers to question 1 as calculated by Management Today.
In the event of a tie, the winner will be the person whose answer to the other question (which he or she did not answer correctly) is closest to the actual answer for that question. Winners will be notified in writing.
Prizes: Each winner will receive a bottle of champagne, unless one entrant answers both questions correctly, in which case we will demonstrate how impressed we are by inflating the prize to a whole case.
The names of the winners and the correct answers will be published in the December issue of Management Today.