What’s that one that Buffett likes about naked swimmers at low tide? Yeah, you know it too. Well here’s another example to show off the Omaha dudes set of smarts. First let’s examine the accepted financial world wisdom of three South American countries:
- Chile: Smart, conservative, wise, financially prudent, stable, investment grade, stable outlook
- Peru: New star, biz-friendly, now stable, financially prudent, investment grade, stable outlook
- Argentina: Irresponsible, anti-free trade, unstable, will default at any moment, crazy to invest there, junk bond graded, negative outlook.
But where the rubber hits the road, what do we see?
Nuff said. The sooner the world wakes up the arriviste BS propagated about Peru, the better things will be. I still find it amazing that any investor trusts convential wisdom of the idiots in suits about anything economic after the evidence of the last few months.