Don’t Get Distracted by the Greek Sideshow

By Bill Bonner, Chairman, Bonner & Partners on April 8, 2015

The headlines are filled with news of the visit by Greek prime minister Alexis Tsipras to Moscow today.

The Greek government has to find roughly €460 million ($500 million) to pay back a loan to the International Monetary Fund that comes due tomorrow.

It’s highly unlikely that Russian president Vladimir Putin will pony up the cash. Thanks to the big fall in oil prices and economic sanctions, Russia’s state coffers are hardly overflowing.

But Tsipras is keen to give the impression that, unless Brussels unblocks emergency funding earmarked for Greece, he’s happy to cozy up to Russia.

And the last thing other European leaders want is Russia meddling in their affairs.

As we’ve been telling paid-up Bonner & Partners subscribers in their three-times-weekly bonus letter, The B&P Briefing, Greece is a major distraction from the real story in Europe.

And that’s the outperformance of European blue-chip stocks versus their US counterparts.

As you can see from today’s chart, since the start of 2015, the SPDR Euro Stoxx 50 ETF (NYSE:FEZ) – which tracks 50 European blue-chip stocks – is up by almost 8% so far in 2015 versus a 0% gain for the Dow.

Don’t forget to check out colleague Braden Copeland’s special report on why he believes the US stock market is near a top. Braden lays out the simple steps you can take right now to protect your profits. He also reveals the names of nine rock-solid stocks to buy in the next panic. Read on here for full details.

©  Bonner & Partners, 55 NE 5th Avenue Suite 100, Delray Beach, FL 33483, USA. All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited without written permission from the publisher.

Information contained herein is obtained from sources believed to be reliable, but its accuracy cannot be guaranteed. It is not designed to meet your personal financial situation – we are not investment advisors nor do we give personalized investment advice. The opinions expressed herein are those of the publisher and are subject to change without notice. It may become outdated and there is no obligation to update any such information.

Investments recommended in our publications should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company in question. You shouldn't make any financial decision based solely on what you read here. 

Bonner & Partners writers and publications do not take compensation in any form for covering those securities or commodities.

Bonner & Partners expressly forbids its writers from owning or having a financial interest in any security that they recommend to their readers. Furthermore, all other employees and agents of Bonner & Partners and its affiliate companies must wait 24 hours before following an initial recommendation published on the Internet, or 72 hours after a printed publication is mailed.