Today was the first time since November that I rode with my Campagnolo Bora One's. I forgot what amazing ride they provided. Think about it this way . . . my Easton EA90 SLX's are like a really good BMW 5-series. Great ride, stable and look good. The Campys though, they're different. They ride like a sports car. You know that hard grippy feel. And when you put your foot down there's an immediate transfer of power. I don't want to ride it everyday, but if you want to put a smile on your face you really have to try them now and then.
The FTSE 100 is now at 5955. The SP500 is at 1390.55. The international ponzi scheme continues. My target for buying puts on the FTSE is 6200. No particular fundamental reason, just an old chart point I've been watching for months now. The thing is that most of the non-investment banking types I talk to have no idea why we're at these level.
|One hell of of a hill climb!|
Geneva is not a fundamental place as the economy is dominated by money hiding from various tax men or comes from the completely recession proof UN. For the non-banking locals the only thing that matters is the Swiss National Bank's (SNB) willingness to print an unlimited number of CHF at 1.20 to the Euro. I hope that they have plenty of ink. You know you can get a 100 year mortgage here in order to pass down property (with debt) from one generation to another. The average 150sqm apartment in central Geneva costs somewhere between 1.75 to 2.5 million. Its terrifying to consider the affordability of this place. The tax rate is near enough to 40% for big salaries, though tax doesn't cut in too much below 100k ... thus explaining the number of 15 to 25 year old girls with CHF10,000 Hermes handbags. Its like living in Japan in the 80's ... and we know how that ended. The Swiss, especially the French side of the country just can't help themselves.