The top 10 things we've learnt in 2009

1) Ponzi was not a character from 1970s sitcom 'Happy Days' but one of the world's first financial engineers. While Bernie Madoff was, optimistically, sentenced to 150 years in jail this March, he proved that any schemer can run a Ponzi - all it takes is confidence, lazy regulators and a good network of rich friends;

2) New Zealand investors will opt for delayed ungratification over honest assessment of loss. Anyone for another moratorium? How about a reverse listing on the NZX?

3) Without KiwiSaver New Zealand's retail fund management industry would be begging for government assistance to survive - oh that's right, it has that already;

4) If all else fails, you can slap a government guarantee on anything to keep the dream afloat;

5) Government guarantees don't last forever but they can be extended for 'as long as necessary';

6) Quantitative easing might be OK for the UK and US but we don't do that kind of thing here;

7) We are very jealous of Australia - ask Don Brash et al;

8) New Zealand is full of pundits who have no eye for the detail offering big picture solutions;

9) Consumer hates financial advisers;

10) You can't trust anyone with your money, especially yourself. Why not spend it all on tacky presents for the ones you love.