Greece And The Markets — Why We Don’t Have More on Greece
This article doesn’t contain predictions on what will happen nor does it pass my personal judgments on Greece, the referendum, the Euro, the Eurozone, the IMF, what’s next and what they should have done or shouldn’t have.
This site was founded on the principal of studying businesses and the news about them and less emphasis on stock prices or macro-economic conditions that we can’t control. That is why there are no stock tickers and there is not much on macro-economic issues. Governments, policies, and the Fed can be unpredictable even if they seem predictable for long stretches.
The amount of challenges and macro-economical challenges the stock market goes through is enormous. I don’t know what will happen with Greece any more than some talking head on Fox, CNBC, or BBC. We’re all guessing and watching. It’s possible there is market calamity from the issue, it’s possible there is another conclusion that no one has foreseen. No one has predicted where we are now. The stock market hates the unknowns and it will be interesting to see how this will result. There was a recent time when we thought the US was going to hit the debt ceiling and markets were panicking. The amount of time that panic lasted was so short people don’t even remember it. There’s a crisis of sort to some degree every year.
I do know that it is business as usual on Monday for Businesses. The question is whether there will be opportunity as a result of this to collect solid businesses at a discount. Apple doesn’t stop working on its greatest latest device because of Greece. The same can be said for most businesses. I know that nothing that has happened in Greece will stop businesses from innovating and from Monday being business as usual. The question is whether there will be some market calamity to go with it.
This too shall pass both for the markets and for the people of Greece.
Some interesting pieces I suggest on the topic:
- Greece It’s Time and It’s Going to be Okay from Behavioral Macro
- Some stuff you should know about Greece before you lose your s*** from The Reformed Broker
- If you want a more short term look: Here’s how the markets will respond to this weekend’s debacle in Greece from BusinessInsider by Mohamed El-Erian ( Chief Economic Adviser at Allianz)
- If you’re looking for play-by-play on Greece I reccommend following @nstamouli and @YanniKouts on Twitter
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