By Jonathan Chevreau,
Financial Independence Hub
Thus far, the Hub has not commented directly on the ongoing crisis in Greece. Since we’re in something of a pause mode until the Referendum on Sunday, it seems as good a time as any to venture into this issue.
I am as transfixed as anyone by the images of Greek pensioners lining up almost daily for their 60-euro ATM infusions. Those who follow my Twitter feed — which also runs to the right of the Hub’s home page — will know that probably every second tweet or retweet concerns Greece in some way.
The world’s major newspapers and broadcast media seem to me to be doing a more than adequate job in reporting on this crisis. For instance, in Thursday’s Financial Post, Gluskin Sheff’s David Rosenberg wrote a useful piece about Why he still isn’t worried about Grexit. And the cover story in this week’s just-published The Economist nicely lays out the possible near future in Europe’s Future Lies in Greece’s Hands.
There’s little point in adding to the discussion if I can’t provide some unique perspectives. I’m no expert on Greece so I cannot: I’ve never even visited the country, although last fall we were right next door in neighbouring Turkey.
I can say that I’ve not made any changes in our family’s investments in response to this ongoing drama. I briefly owned a tiny position in a Greece ETF in 2014, thinking the worst was over but jettisoned it for tax-loss selling purposes late in 2014 and it will be a long time before I’m tempted to re-enter that position. If ever.
Cash is the furthest thing from Trash right now