No New News
by Russ MacKay
Front and centre is the continued concern on the European debt crisis. Now the buzz word is “reprofiling” in terms of describing a solution to Greece’s debt situation. We think “haircut” is a more appropriate term, and the sooner a defined course of action is announced, the sooner the real healing can begin.
As in my earlier posts, we continue to favor holding higher than normal levels of cash for buying opportunities which undoubtedly will unfold.