{"id":7055,"date":"2013-08-20T19:56:02","date_gmt":"2013-08-20T19:56:02","guid":{"rendered":"https:\/\/cartesio.com\/?post_type=noticia&p=7055"},"modified":"2025-05-16T11:21:24","modified_gmt":"2025-05-16T11:21:24","slug":"el-pendulo-cambia-de-la-crisis-del-euro-a-europa-va-bien","status":"publish","type":"noticia","link":"https:\/\/cartesio.com\/en\/noticia\/el-pendulo-cambia-de-la-crisis-del-euro-a-europa-va-bien\/","title":{"rendered":"El p\u00e9ndulo cambia: de la crisis del Euro a Europa va bien"},"content":{"rendered":"

Aquellos clientes\/lectores que hayan seguido nuestros blogs del a\u00f1o pasado (\u201cEl Euro no se rompe, \u00bfacto de fe o acto racional?\u201d Mayo 2012; \u201cCareer risk\u201d Juno 2012; \u201cA Spaniard in Geneva\u201d Junio 2012; \u201cBolsa y cr\u00e9dito espa\u00f1ol se divorcian\u2026por poco tiempo\u201d Junio 2012) recordar\u00e1n que eran momentos de p\u00e1nico perif\u00e9rico y donde nuestra testaruda pero muy trabajada posici\u00f3n sobre el Euro y el riesgo crediticio perif\u00e9rico nos permiti\u00f3 cosechar excelentes resultados de inversi\u00f3n el a\u00f1o pasado que nos acompa\u00f1an tambi\u00e9n en lo que va de a\u00f1o. Es bueno volver a recordar que en la gesti\u00f3n muchos creen que los buenos resultados van siempre asociados a una buena compra. Nosotros siempre hemos dicho que muchas veces son el resultado de no vender en el peor momento. La primavera\/verano del a\u00f1o pasado son un buen ejemplo en ese sentido, sobre todo porque fueron los momento cr\u00edticos antes de que super Mario dijese eso de \u201cwhatever it takes\u201d y, todav\u00eda m\u00e1s importante, \u201cbelieve me, it will be enough\u201d. Los inversores que compraron la segura y muy cara deuda alemana\/americana en ese momento, vendiendo posiciones en la periferia, tomaron la peor decisi\u00f3n posible. Los banqueros privados extranjeros hicieron su Agosto, literalmente, metiendo el miedo en el cuerpo a muchos inversores del sur de Europa.<\/p>\n\n\n\n

Un poco m\u00e1s de un a\u00f1o m\u00e1s tarde esto parece el mundo al rev\u00e9s. La deuda perif\u00e9rica (corporativa y gobiernos) ha sido la mejor inversi\u00f3n desde la primavera pasada y la deuda de Alemania y otros pa\u00edses \u201ccore\u201d han arrojado p\u00e9rdidas. Pero no s\u00f3lo las tornas han cambiado en renta fija, ahora la sensaci\u00f3n es que la econom\u00eda Europea est\u00e1 tocando fondo porque la periferia dif\u00edcilmente puede ir peor y que adem\u00e1s la bolsa Europea est\u00e1 mucho m\u00e1s barata que la americana y otras opciones anta\u00f1o muy populares y recomendadas (oro, emergentes, materias primas) est\u00e1n fuera del radar de los inversores.<\/p>\n\n\n\n

El p\u00e9ndulo ha cambiado y felizmente pudimos acompasarlo bien. La \u201cpasi\u00f3n\u201d por Europa parece tiene todav\u00eda bastante recorrido. Esperamos que cuando el p\u00e9ndulo cambie otra vez, hacia d\u00f3nde no sabemos, podamos anticiparnos aunque siempre es dif\u00edcil. Por el momento la direcci\u00f3n es Europa y bolsa pero en aquella primavera del 2012 hab\u00eda muchos que dec\u00edan que era renta fija alemana y americana.<\/p>","protected":false},"excerpt":{"rendered":"

Aquellos clientes\/lectores que hayan seguido nuestros blogs del a\u00f1o pasado (\u201cEl Euro no se rompe, \u00bfacto de fe o acto racional?\u201d Mayo 2012; \u201cCareer risk\u201d Juno 2012; \u201cA Spaniard in Geneva\u201d Junio 2012; \u201cBolsa y cr\u00e9dito espa\u00f1ol se divorcian\u2026por poco tiempo\u201d Junio 2012) recordar\u00e1n que eran momentos de p\u00e1nico perif\u00e9rico y donde nuestra testaruda pero […]<\/p>","protected":false},"author":4,"parent":0,"template":"","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_mo_disable_npp":"","inline_featured_image":false,"_uag_custom_page_level_css":""},"noticias-categoria":[31],"class_list":["post-7055","noticia","type-noticia","status-publish","hentry","noticias-categoria-opiniones"],"acf":{"title_img":{"ID":7056,"id":7056,"title":"El pe\u0301ndulo cambia_ de la crisis del Euro a Europa va 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m\u00e1s ideas y noticias de Cartesio."},"yoast_head":"\nEl p\u00e9ndulo cambia: de la crisis del Euro a Europa va bien - cartesio<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cartesio.com\/en\/noticia\/el-pendulo-cambia-de-la-crisis-del-euro-a-europa-va-bien\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El p\u00e9ndulo cambia: de la crisis del Euro a Europa va bien\" \/>\n<meta property=\"og:description\" content=\"Aquellos clientes\/lectores que hayan seguido nuestros blogs del a\u00f1o pasado (\u201cEl Euro no se rompe, \u00bfacto de fe o acto racional?\u201d Mayo 2012; \u201cCareer risk\u201d Juno 2012; \u201cA Spaniard in Geneva\u201d Junio 2012; \u201cBolsa y cr\u00e9dito espa\u00f1ol se divorcian\u2026por poco tiempo\u201d Junio 2012) recordar\u00e1n que 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Martinez","author_link":"https:\/\/cartesio.com\/en\/author\/carmen\/"},"uagb_comment_info":0,"uagb_excerpt":"Aquellos clientes\/lectores que hayan seguido nuestros blogs del a\u00f1o pasado (\u201cEl Euro no se rompe, \u00bfacto de fe o acto racional?\u201d Mayo 2012; \u201cCareer risk\u201d Juno 2012; \u201cA Spaniard in Geneva\u201d Junio 2012; \u201cBolsa y cr\u00e9dito espa\u00f1ol se divorcian\u2026por poco tiempo\u201d Junio 2012) recordar\u00e1n que eran momentos de p\u00e1nico perif\u00e9rico y donde nuestra testaruda pero…","_links":{"self":[{"href":"https:\/\/cartesio.com\/en\/wp-json\/wp\/v2\/noticia\/7055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cartesio.com\/en\/wp-json\/wp\/v2\/noticia"}],"about":[{"href":"https:\/\/cartesio.com\/en\/wp-json\/wp\/v2\/types\/noticia"}],"author":[{"embeddable":true,"href":"https:\/\/cartesio.com\/en\/wp-json\/wp\/v2\/users\/4"}],"wp:attachment":[{"href":"https:\/\/cartesio.com\/en\/wp-json\/wp\/v2\/media?parent=7055"}],"wp:term":[{"taxonomy":"noticias-categoria","embeddable":true,"href":"https:\/\/cartesio.com\/en\/wp-json\/wp\/v2\/noticias-categoria?post=7055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}