“Every unresolved problem eventually creates something worse to solve it…”
I switched on the TV this morning and watched Naga sitting on the Brek-drek couch in Normandy, then a cut-away to a Piper at the moment British Troops landed on Sword Beach. He was playing Highland Laddie, the same tune I wrote about on Monday, when D-Day piper Bill Millan played it as he and his commandos stormed up the beach. Marvellous stuff.
Unfortunately, despite the BBC being in France, it did not provide any insights as to why the Fiat Chrysler / Renault merger collapsed last night. President Macron was just along the road, so it’s a shame Naga hadn’t walked over to ask why? We know the French govt and union board members voted against it… but they are only 2 of 9 board members. Personally, I didn’t understand the merger anyway… who drives a French car? Quel Fromage as the French never say….
Elsewhere a credit downgrade while Trump escalates the Mexican standoff! The ECB meets and has to work out how to bail out the Italian banks with more TLTROs while chastising Italy for borrowing too much, and we are wondering what next..
Back in Blighty..
It’s a tad cruel, but a few months ago I was at a meeting at the University Investment Management advisory group, and we were reviewing post-grad research proposals. One of them was a semi-serious proposal to analyse Neil Woodford’s performance a fund manager; the aim would be to rate Woodford buy investments as reliable sell signals. Oh… how we giggled…