June 3, 2016

No attractive stocks in Spain - Stern buys Conzzeta​

The Obermatt Top 10 List 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 interested in buying Spanish stocks. Unfortunately, most of the Spanish Top 10 stocks have poor ratings. 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 that also appeared on the Obermatt Top 10 List and comes 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. Either case will create a 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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