Tuesday, January 12, 2010

Venezuelan finance quote of the day (perhaps even the year)

Alex Dalmady (of Allen Stanford whistleblowing fame) has nailed the subject of Venezuelan bonds with this post. I agree with his call and take the liberty of extracting this great little quote:
"Buying Venezuelan debt is like lending money to a wealthy, eccentric and partly insane uncle. You kind of figure he’s good for it, but there’s a good chance he’ll blow his fortune buying real estate on the moon or something and leave you hanging out to dry."
Go see the whole post for yourself. Top stuff