Alessio Rastani, if that is his real name - because he has been found out to be an imposter, told BBC news presenter Martine Croxall on Monday, that the Eurozone bailout/s would fail, stockmarkets were "finished", things are really dire economically, traders don't care about "economic recovery" (whatever the hell that means these days) because they will make money anyway, Goldman Sachs is running the show not politicians, and the worst thing one can do is nothing in the face of impending financial collapse, is probably closer to the truth than any other "legitimate" economic commentator.
I am a betting man and would put odds on politicians of not having success in turning economic disaster around. They have thus far failed over the last 3 years of economic uncertainty, so what makes Europe different now or any other harebrained bailout/giveaway scheme that rolls along in the future that gives us another few years of grace before we have to face the economic realities staring back at us in the mirror?
I don't care if Mr Rastani works out of a 200,000 pound semi in Bexleyheath and not in the city because I think he just might be right.
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Darren,
ReplyDeleteLike you I am an investor (in both the NZ and AU markets) and like you I have a predominantly bearish view of things to come. That said, I have been buying companies that I deem to be cheap over the last few days and weeks. Given that you and I agree - to some extent - with what Alessio is saying, wouldn't we be better off liquidating our positions and waiting for the world to come crashing down around us? Despite the fact that certain companies are going cheap right now, if such an event occurs we'd get them even cheaper and would have more money available with which to invest. Thoughts?
Hi Andrew, as long as you hold good companies with little debt you will be OK and if you are happy to pay what they are currently selling for well you would have done better than buying when everyone else was. I intend to wait for some bigger falls to come as the politicians will not be successful at stemming the problem but merely causing other negative economic consequences.
ReplyDeleteTime to be very patient and observe closely.