Unfolding events such as the French credit downgrade and the reporting of the emerging impasse between Greece and its creditors are resulting in increased media analysis of how we collectively got into this parlous state. The overriding inference of this analysis is that we have collectively been going through an increasing state of massive delusion over the last forty years, thinking that we were getting richer whilst ignoring both the growing mountain of debt and also the likelihood of it being settled in full.
Turning specifically to the Greek debt, I ask myself whether I as an individual would lend money to Greece and the answer comes back a resounding 'no'. However, the journey of delusion continues to be mapped out for us by large numbers of highly paid individuals within both state organisations and also the banks seeking to pursue a solution of lending Greece more money. This is a glaring example of how the agents representing us act differently than we would individually, resulting in the present turmoil.
Against the above background, it was refreshing to have brought to my attention last week an article reflecting the thoughts of Shigeaki Hinohara, one of the word's longest serving physicians and educators - it can be accessed by clicking here. The world would be in a lot better place if our leaders across all spheres of activity had espoused more of Mr Hinohara's principles.
Now to a positive investment note. As readers know, I believe that a key strategic step for the UK, and hence for investors, to address the turmoil is to bolster the UK's universe of net exporting Mittelstand companies. I was therefore delighted to learn that Keith Butler-Wheelhouse has been appointed chairman of AIM listed Chamberlin. Chamberlin is an engineering group and their strategy can be found here. I met Mr Butler-Wheelhouse in March 2011 as a result of him becoming an NED at AIM listed Plastics Capital, a good example of a net exporting UK Mittelstand company followed by LCFR. A copy of that meeting note can be accessed by clicking here. I have met the CEO of Chamberlin and as a result of that meeting and the recent chairman appointment, Chamberlin will start to be covered by LCFR.
