La rima es fácil. Pero no existe ninguna animadversión hacia ese pueblo, ni mucho menos, ya que lo ocurrido en Chipre sería comparable con lo acontecido en el resto de la periferia del sur de la Eurozona. Las circunstancias y las rimas de un griego, italiano, español o portugués son distintas, pero los paralelismos son innegables, e idiotas (en su acepción de engreído sin fundamentos o que carece de instrucción) los hay en todas partes. (more…)
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It seems that the world is divided between those who save and those who don’t. But many of those who claim to live from hand to mouth do, at some point in their lives (mostly in middle age) and despite the hardships of this crisis, tend to put a little money aside for their old age or for an uncertain future. However, most of these forward-thinking people have never considered themselves investors, but simply savers. Warren Buffett said that Investing means spending less today so that we can spend more in the future, and he hit the nail on the head, as he almost always does. 
Despite being the closest member of the BRICs, the Russian economy is still largely unknown to Spanish investors. However, we are already beginning to see its inhabitants travelling en masse around the world. And little by little we are becoming familiar with their appearance and language, because more and more Russian tourism is flooding the Mediterranean coasts from the Turkish Riviera to the Costa Brava. Restaurant menus in the Cyrillic alphabet are now quite common, and this is a clear sign that their roubles are beginning to make a substantial contribution to the balance sheets of our companies. 
Most investors care little about what might have happened. They only value and rate the quality of their bets by the final outcome. In other words, often without realising it, they subscribe to the old saying: “all's well that ends well”.
There is no greater failure than that of someone who gives up on success. Something similar happens to investment funds that stick to their benchmark indices, confident that, despite their mediocrity, the firms they work for will have no trouble marketing these funds on a massive scale, and will never blame them for failing to shine. A bank’s commercial capacity is directly proportional to the mediocrity of its investment products. Perhaps it’s because Necessity is the mother of invention, and fund managers at independent fund management firms (which do not belong to banks, at least not directly) can only compete for a place in the investment sales arena by demonstrating sheer quality and superior returns compared with their competitors. 
First of all, we must tell you that the subject we are going to deal with today is complex and may offend some professional sensibilities. But that is not our intention at all, but rather our interest is focused on clarifying a situation that is currently generating a lot of confusion and, more importantly, is damaging families with a certain amount of wealth. Both large fortunes and small savers. We will therefore discuss, for example, Santander's convertible bonds, the recent inflammatory statements by Greg Smith (ex-Goldman Sachs), the types of assets that a properly diversified wealth should contain, the Spanish and Luxembourg regulators, banking, EAFIs, Family Office, or how to distinguish between a perverse advice and a perverse advice. comme il faut. We apologise for the length of the post, but we have chosen to publish it in its entirety so as not to lose the thread in the middle of the reflections that follow.