Veritas: Pick your teams for the coming season
A view from Dun & Bradstreet, the business information services firm, suggests bottom up stockpicking moves in Ireland and Italy still provide plenty of Alpha potential. That leaves concerns over ‘PSG’, which just happens to be the team most non-Parisians love to hate in the French domestic football league.
The transfer season is in full swing across the UEFA zone of world football, and along with it the usual silly stories of how many millions of pounds, euros, CHF or other monies clubs are willing to spend on spoiled teenagers with a good left foot.
The analogy is apt, however, if one were to draw up a league of stricken eurozone countries; which one should you back for the coming season? And how much would you be willing to spend of your supporters’ (read: taxpayers’) money to make it a success?
Economists at business information supplier Dun & Bradstreet say in their latest view (published in InvestmentEurope) that investors should not use sovereign debt ratings as their only guide to investing in certain markets.
Hooking on the PSG link, it is, of course, the French who may hold the balance of future developments in their hands. Although German chancellor Angela Merkel seems to be in a defiant mood in warning the rest of Europe off abusing German taxpayer generosity, ultimately it may be Paris that ends up holding the political can, whatever the success or failure of the eurozone solution.
Similarly, while PSG – the football team – has considerable local support, the good burgers of Marseille, Bordeaux, Lille, Nantes and others in the top of the French domestic league won’t hessitate to show their disgust with any apparent favouritism shown their Parisian bretheren.