Allow Myself To …Introduce…..

Doing the right thing at crucial points in market history is by far the most difficult task investors will ever face. How many times before has the market been scared and how many of those times has panicking been the right thing to do? The time for meaningful action has long since passed. Doing the wrong thing at times like this is how people alter their financial futures. You have heard this before from many other people and you know it is...

Allow Myself To …Introduce…..

Doing the right thing at crucial points in market history is by far the most difficult task investors will ever face. How many times before has the market been scared and how many of those times has panicking been the right thing to do? The time for meaningful action has long since passed. Doing the wrong thing at times like this is how people alter their financial futures. You have heard this before from many other people and you know it is...

Glitnir Bank

Glitnir Bank (not pictured as it’s building is far less interesting to look at) was effectively taken over by the Icelandic government. You can read about it here, here and here. I have written about Iceland many times, invested there, made a little money, lost a little money and have been out for a while. The GDP in Iceland was $11 billion in 2006 so the €600 million is a very big number but they obviously feel this must be done. I continue to be long term optimistic (but again, no position for quite a while) because among other things Iceland essentially has free energy (except for gas for cars) which makes it an attractive place to set up shop for a global business, especially certain types of manufacturing and data centers. The country was on the path to greater global relevance and so it appears to be set back by some number of years. A bad period of time? Yes. Permanently flushed? Not...

Glitnir Bank

Glitnir Bank (not pictured as it’s building is far less interesting to look at) was effectively taken over by the Icelandic government. You can read about it here, here and here. I have written about Iceland many times, invested there, made a little money, lost a little money and have been out for a while. The GDP in Iceland was $11 billion in 2006 so the €600 million is a very big number but they obviously feel this must be done. I continue to be long term optimistic (but again, no position for quite a while) because among other things Iceland essentially has free energy (except for gas for cars) which makes it an attractive place to set up shop for a global business, especially certain types of manufacturing and data centers. The country was on the path to greater global relevance and so it appears to be set back by some number of years. A bad period of time? Yes. Permanently flushed? Not...