Buy Britain, Sell Europe


From the Daily Reckoning


“Europe is now a continent of widespread economic misery, of financial collapse, of disappearing faith in ‘mainstream’ political parties and rising support for ‘extremist” parties, of a loss of sovereignty and thus of legitimacy and democratic control, and of the destruction of law, both domestic and international, by the judicially larcenous European Court of Justice (sic).”

Bernard Connally
Rotten Heart of Europe: The Dirty War for Europe’s Money

With the elections in France safely recorded as a win for the pro-EU forces, the bull migration back into European equities has begun.  Our usually sensible friends at Barron’s declare the raging bull buy signal on this week’s cover:  “Buy Europe.”  And by Europe, they mean excluding the United Kingdom.

“Given attractive valuations, diminished political risk, low interest rates, and a pickup in global growth, international markets, and Europe in particular, could finally start…

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