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Is Tsipras the new Lula, or the devaluation of prejudices
It’s now a commonly held view to say that Greece would have been better off exiting the euro, returning to their own currency in 2009, let it devalue and restart from scratch. Devaluation is no panacea GDP and real incomes are down about 30% since the beginning of the crisis. It’s a lot, but how…
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Portfolio update: undertakers to grocers
First trade of the year on the main Obliquity Portfolio has been to exit Dignity, the undertaker consolidation firm, and double down on Tesco. Too shady in the cemetery Dignity is a business that is natural fit for the obliquity strategy: stable, boring, hard to like. But, and it’s something I had not understood well…
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