Life at № 42
It’s looking bad around the globe. In the past month the Spanish Ibex has lost 13% of its value. Today the Cac 40 is down by a whopping 7%. At the worse point today the FTSE had wiped 100bn off its value. The worse news however is coming from Asia.
Last time around we (personally) saw Santander stock fall from €14 to €5. That’s a bit like going to bed at night the owner of a car and then waking up in the morning and all that’s left are the four wheels and a door. Quite the lesson.
From the second we moved here we’ve been courted by investment companies and banks- but because of our traumatic history we’ve resisted the temptation to invest with any of them. Thank goodness.
I’m mostly fearful for the regular people who invest their savings on the (not entirely honest) advice of their bank managers. Even the so-called ‘guaranteed’ plans are rarely actually guaranteed. Just ask the Spaniards who were mis-sold the preferentes. If you’re going to put your money anywhere, read the fine print, then read it again, then have your lawyer look at it.
I’m very pleased we’ve decided to do our own thing, our own way. There’s something very satisfying about building/creating something, much better (for me anyway) than making money from money.