Things Are Cuckoo in the Land of Cuckoo Clocks
|Written by GSCR Staff|
|Thursday, 29 August 2013 07:57|
Why read fiction when truth is far more interesting and strange? Since we are on the other side of the pond, we really don’t pay much attention to what goes on in Europe, but we should. After all, if you are a follower of mega-caps or mysteries, you have got to be at least a little intrigued by the recent goings-on in Switzerland. The stories sound just like a mystery novel.
Here is the short version, for the uninitiated.
Earlier this week, the CFO of Zurich Insurance (OTCQB – ZFSVF) was found dead in his home. The cause of death is an apparent suicide. Today, Josef Ackermann, the former CEO of Deutsche Bank (NYSE – DB) and current CEO of Zurich Insurance, resigned, only stating that he believes that the CFO’s family thinks he should take some responsibility for his colleague’s death. To add to the intrigue, a month ago, the CEO of Swisscom (OTCQB – SCMWY), the largest phone company in Switzerland, was found dead of an apparent suicide as well.
What in the world is going on? It is cuckoo over there.
Clearly, there will be a ripple effect in Europe and some wild stories of improprieties may come to light. At the least, these are 2 stocks to avoid but watch with interest. I am sure Hollywood is doing the same.
Have a great day.
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