The Obermatt Top 10 List from June 3, 2016 includes Spain, a country that Obermatt CEO Dr. Hermann Stern finds interesting for the future. Young Europeans want more sunshine and Spain has an open economic environment, at least compared to Italy and France.
Based on the sunny economic outlook, Dr. Stern was quite interested in buying Spanish stocks. Unfortunately, most of the Spanish Top 10 stocks have poor ratings. Debt is still a prevalent problem for them. Spain and their companies are still in recovery mode from their credit boom and bust.
So instead, he turned to a Swiss stock that also appeared on the Obermatt Top 10 List and comes from a company he knows personally. Conzzeta is a diversified conglomerate owned by a well-known and successful Swiss family. There are two options for Conzzeta in the future. One, the family continues to run Conzzeta as a safe, diversified group or two, the family sells it. Either case will create a benefit and Dr. Stern wants to be a shareholder and share in the benefit.
No other reason needed. He bought 8 Conzzeta stocks this week.