European woes

European malaise is starting to bite the ASX. The once very proud region of the world with its sense of superiority and sophisticated taste has remained aloof and sophisticated... but they are becoming Texans with big hats but no cattle. We are heading back to the future where India and China dominate. And with the rise of America in the last 300 years, another super power which will be eclipsed by the historical two.

Luckily for me today, ERM had a huge jump so I was near neutral when it comes to alpha. What I bought today have mostly been coming down in price AND have been made good announcements. There are lots of these stocks but today I created cash by selling a stock (BOW) which is going to be taken over. I didn't want to wait for the formality.

I will visit Europe again when the Euro has reached parity with the AUD. And use cheaper Greeks, Italians, Irish, Portuguese and Spaniards to take me around. Maybe, the French and Brits, too. Germans are the only Europeans who deserve to remain aloof and rich.