No attractive stocks in Spain — Buying Conzzeta
Obermatt CEO Dr Hermann J. Stern writes about his latest European stock picking activity
Read the article or watch the video on Youtube
The Obermatt Top-10 stocks from June 3, 2016 includes Spain, a country that I find interesting for the future. Young Europeans want more sunshine and Spain has an open economic environment, at least compared to Italy and France.
Based on the sunny economic outlook, I was quite in buying Spanish stocks. Unfortunately, most of the Spanish Top-10 stocks rate poorly. Debt is still a prevalent problem for them. Spain and their companies are still in recovery mode from their credit boom and bust.
So instead, I turned to a Swiss stock, which also appeared on our Top-10 list and from a company I know personally. Conzzeta is a diversified conglomerate owned by a well known and successful Swiss family. There are two options for Conzzeta in the future. One, the family continues to run Conzzeta as a safe, diversified group or two, the family sells it off. In either cases, there will be benefit and I want to be a shareholder and share in the benefit.
No other reason needed. I bought 8 Conzzeta stocks this week.
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