On the other side…

IMG_20150629_085601117_HDR[1]Well well, as USUAL (I’d say) my work takes me roughly on the other side of the World when a major “economic catastrophe” occurs in the “Old World” as they refer to Europe some fellow Americans.

Yep I am in the States now (previously I was in Canada), and of course Greece had to go all ballistic and decided to do whatever they did.

Now, before I get flamed for my personal opinions allow me to say that I really know little about the Greek situation, the only point that I can see clearly is that if you want to achieve a real European Union then you have to accept to loose some of the power that you have at national level to transfer it at European level.

What Tsipras and its government did, in the end, is quite severe because a referendum means in any case that the European Union is worthless, as it cannot decide anything without being blackmailed by the possibility that a government will call for “democracy” to speak for them (rather populistic move).

Shame that democracy got the country into the European Union to start with, so it’s a bit too simplistic to just vote against when things are not idyllic anymore. But we are not living this tragedy directly, and I hope that I do not get to experience it in the future, I am sure it must be pretty hard for the people in Greece to live in such uncertainty.

As to our Long positions, I have decided before all this mess happened, to freeze investments at the end of the month until the Greek scenario got a better position, and at least in that I was right. The portfolio took the worst hit since I started and I fear that it’s just the beginning… 😦

Having said this, a correction can open opportunities for future averaging, so let’s not call to the tragedy quite yet…

Either than that I have no other “anti-Greece crisis” plan, I am studying some interesting company bonds, and might be adding one soon. Not entirely in touch with the stocks PF as such, but might be interesting to diversify and to get some more stable income.

And you, how do you go about the Grexit or Non-Grexit story?

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One thought on “On the other side…

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