Good afternoon!


Clarification - Fundamental Asset Management

I seem to have accidentally caused some confusion, for which I apologise. Fundamental Asset Management has asked me to clarify that the only part of their business I was involved in was a minor portfolio service called the Small Cap Value Portfolio.

So the SCVP had nothing to do with FAM's core business of IHT portfolio management, which is of course continuing completely as normal! (and is an excellent, well-run, strongly performing service).

One reader apparently misunderstood, and thought that FAM was shutting down, which obviously it isn't! This has caused a few red faces, for which I profusely apologise.


This is my last report from Greece, as am flying back tomorrow morning. We had thunderstorms last night, and it's very overcast/rainy today, so I'll be spending most of the afternoon indoors writing this report. Therefore please refresh this page later, and you will find more sections added.

Talking of which, I added 3 new companies to yesterday's report last night - here is the link to recap on that. One section completely disappeared - on Carr's, but it wasn't very interesting, so I didn't bother rewriting it.

I've been learning a few phrases in Greek, so that I can at least say a few simple things to locals, in their own tongue. It's so worth it - they really appreciate visitors making the effort. Marina herself, at Marina's Tavern (my favourite place for dinner here in Corfu old town), beamed at me, and flamboyantly roared,  "You're Greek now!!" when I told her that dinner was "poli kala" (very good)

It's interesting how English is used here as the standard language when talking to tourists from all countries. This infuriates the French! A rather pouty French lady nearby asked the waiter how much, "C'est combien?". He replied in English, "Seven Euro". She frowned, and replied, "Sept?". She nearly exploded, when he replied, again in English, "Yes, SEVEN!". That amused me.

Although you can see the stresses of a 30% drop in GDP, high unemployment, and crushing tax increases, on the faces of most locals. Talking to another restaurant owner, he said that most people are struggling. There are a lot of anarchy symbols painted on walls around the town. It wouldn't surprise me if Greece descends into civil disorder at some point. We certainly haven't had the last Eurozone crisis, that's for sure.

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