The Vulture Funds Rescuing Italy



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The Vulture Funds Rescuing Italy

I like what I’m seeing in Italy.
An Italian bank is selling off a loan portfolio for €3.1 billion.
Somebody is getting a bargain.
The face value of this portfolio is actually €10.8 billion.
That’s 70% off!
These are the kinds of deals most investors dream about — buying up assets on the cheap.
The post The Vulture Funds Rescuing Italy appeared first on Daily Reckoning Australia.

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Why the Aussie Banks Let You Lie

Another day, another development in the Royal Commission into banking.
To date, the ‘revelations’ have been rather dull.
So far we’ve heard about some pushy sales staff hawking bank products…a few dodgy documents…some fraudulent loans…and a handful of financial advisers being behind on their training requirements.
The post Why the Aussie Banks Let You Lie appeared first on Daily Reckoning Australia.

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Is This the Moment of Truth?

One of the most famous passages in American literature occurs in Chapter 13 of Ernest Hemingway’s The Sun Also Rises. It takes place in a café in Pamplona, Spain, during the running of the bulls.
Bill Gorton, a friend of the protagonist, Jake Barnes, has just arrived from New York.
The post Is This the Moment of Truth? appeared first on Daily Reckoning Australia.

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