TOUR D'EUROPE - HIGH QUALITY COMPANIES WON'T BE AFFECTED BY A GREXIT

Garry Laurence

Profeta Investments

In this newsletter I decided to write to you about my recent trip to Europe. I travelled through many cities including Berlin, Rome, Paris, London, Tel Aviv and Istanbul. The last two aren't necessarily on most people's travel lists but are both very interesting cities with wonderful companies to invest in. It is hard to write about Europe without briefly touching upon Greece. Eurozone prime ministers and presidents are holding emergency meetings with Greek politicians as Greece is trying to tap the last 7.2 billion Euro tranche of its rescue programme, before it expires at the end of June. Greece only represents about 2% of European GDP and 0.4% of global GDP. Mario Monti's view is that Greek public opinion polls show that the population is in favour of being part of the European Union, so this puts a constraint on Mr Tspiras, the Greek prime minister. My view is that he is trying to negotiate a haircut to Greece's debt obligations and is playing hardball, but will finally come to an agreement with the rest of Europe. (VIEW LINK)


Garry Laurence
Chief Investment Officer
Profeta Investments
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