MICHEL PIREU: Why eurozone stocks are solid and Gates could throttle Musk
A few things you might (but shouldn’t) have missed last week. From the Economist, a case for owning eurozone shares: Success in investing often means going against the grain. There is an argument for buying eurozone shares precisely because their defects have now become all too clear to everyone. Among the shortcomings is that Europe is ageing. It is the place to find businesses ripe for disruption, rather than those doing the disrupting. Its bourses are heavy with the technologies of the second industrial revolution — mass-market cars, petrochemicals and machinery — but light on the digital firms that power stock markets in the US. Its banks, a big weight in stock market indices, look leaden. Deutsche Bank is a target of short-sellers. The strong 2017 GDP growth has cooled. A nasty recession could plausibly break the zone apart. So there is plenty not to like. The experience of owning European stocks over the long haul has been quite horrible. The Euro Stoxx 50 of big euro-zone sha...
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