Rational Advisor

Yep, survived it.

It was hectic, UK was cold, Spain was warm, and Morocco was hot

While there noticed that the US housing problem is now creeping into US. UK houses were coming down, Spain was going through a mini depression thanks to the US tourists non existence. Thanks to a lower US dollar not as many yanks are visiting Spain, and these guys were the one’s that took excursions (the UK guys are too cheap), and gave the biggest tips. Now the falling US dollar makes it more expensive to go to Europe, you are seeing it affect tourism, and thereby rental and residential real estate. In fact, some construction guys said they did not know where the next job would come from, and were preparing to do something else. There was so much real estate on sale, including commercial real estate because there were less people buying at the stores. Wow, sure brought the reality of European investing too light. Many people are under the illusion that Europe will survive and are a better investment. This trip was an eye opener.

Went to the markets at Fuengirola and Arroya-Mel near Malaga. great deals. Then went to Marbella for a nice stroll down the boardwalk.

Talked to some investment guys in Europe about what they thought about Canada, they do not even know it exists when it comes to do Asset Allocation - and here we are thinking that we were one of the major G7 countries and strong. We are puny! One smart investor said, Canada is like an emerging country, look how it tracks Brazil, and China. As they move up so does Canada, as they fall so does Canada. so, why would we buy Canada when we can allocate to China and India.

Then hopped off to Gibralter and into Africa - actually Tangiers in Morocco. According to our Guide, 75% of the world phosphate comes from Morocco, 75% of the population is under 20. The first son in the family is always named Mohammed and the first daughter Fatima. Families are large around 8 kids - mainly because there’s nothing good on TV. Education is free even University. went to a market and it was like I was in Medieval times, got swamped by the gypsies, and went to a restaurant and had some food the bread was so hard I could have cut diamonds with it. Crime is apparently very low in Morocco because the prisons are terrible and nobody wants to fo there.

Oh yea, up unitl a year ago Men could have as many wives as they wanted. The new King with one wife, didn’t like the idea, so he decreed that you can only have a second wife if the first one agrees - this apparently stopped the second wife syndrome!

And now I am in San Diego at a Due Diligence meeting our International investment specialists - Mawer and Brandes. Really amazing and good stuff. Will post an update later on what they said. Good stuff on what’s happening and what it really means

So, I have been on a plane for 24 hours plus - Spain to UK to Toronto to San Diego. I am real tired so get back to you later

Whew.

Rational - Looking back, I think my parents might have tricked me by suggesting I hold on to my investment until there was improvement the tooth futures markets.

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