3063 days ago
Full marks to InternetQ (INTQ) for effort. The company has published a lengthy response to the points I raised. here when our initial target price (for the whole company) was one drachma. My response will come in several parts, each begging yet more questions. Part 1.
3068 days ago
Today's From Athens with Love report from ShareProphets sent shares in Greece based AIM listed InternetQ (INTQ) tumbling by more than 50% at one point. Finally we get a weedy but all to predictable response and on the back of it I have cut my target price (for the whole company) from 1 drachma to half a drachma.
3218 days ago
As I wander up to the most excellent Anthrapology café one last time for a leave Athens on a boat tonight to continue my odyssey, I stroll past three of four banks and they are open. Well sort of.
Pensioners are allowed in but to withdraw only 100 Euro. You can make a deposit if you wish but no-one is that daft. For those not yet in retirement it is the ATMs again and if anything the queues are longer than they were on Saturday and Sunday.
And why not? At the very worst you take out 60 Euro, stuff it under the mattress and in a few weeks convert it into nice new Drachmas and make a quick turn. At best you avoid losing 60 Euro when the bank goes bust or if the State confiscates your wealth via a bank bail-in. And so the ATM lines grow longer and will stay that way all day until the machines, or Greece, just runs out of cash, whichever is sooner
3277 days ago
I do not have a scooby about forex trading I just feel happy to see the Euro go down against Sterling and look forward to a day when the drachma sinks even faster. SwissQuote was the main sponsor of UK Investor Show 2015 and held a session to explain what is happening in forex to the attendees. Watch and learn.
3310 days ago
After yesterday's podcast, it was put to me by a Euro loving loon (but good man) on twitter that Greece defaulting on its debts and leaving the Euro would be bad news for me, as my wife owns a small property in Greece – the Greek Hovel. He is correct: anyone with Greek assets would take an immediate hit after Grexit. But here is why I support the move anyway.
The hit the Mrs will take is twofold. Firstly the Hovel will now be valued in drachmas which will be a weak currency compared even to the failing Euro. As such the Sterling value of the property will plunge. She has probably lost 10% already and she’d lose another 25% overnight.
Secondly when the Greek banks are nationalised they
