The most important article you didn’t bother reading today appears in the Wall Street Journal, and it looks like this:
The reason it is the most important article in today’s Wall Street Journal is the undeniable fact it reports, which is that after much hemming and hawing, Spain’s banks are now, finally, blowing out bad real estate to bottom-feeding hedge funds.
And so the healing has begun in the Spanish real estate market, which is to the E.U. as Florida, Phoenix and Southern California are to the United States.
What with the U.K. economy already catching fire—believe me, it’s on fire: just look at the data—today’s report makes our previous look at the stodgy crowd-think-gussied-up-as-economic-analysis from the IMF (see “Headlines That Make You Just Want to Run Out And Buy As If Your Life Depended On It”) seem too mild.
We would, as the saying goes, bet dollars to donuts that the IMF, which only last week provided that gloomy, never-getting-better prognostication for Spain’s economy, will be proven gloriously wrong.
Buy Spain, buy it now.
Author “Secrets in Plain Sight: Business and Investing Secrets of Warren Buffett”
(eBooks on Investing, 2013) $4.99 Kindle Version at Amazon.com
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