Usually, we try to post informative articles on this blog; albeit seasoned with some attempts at humor. When I read this article today, I realized that it has no real investment ramifications, no insights into how we may wish to allocate capital, and no dire warnings of imminent macro risks.
Rather, it is ridiculous. So much so that it’s funny.
At the same time the European’s have been peering down at us over the tip of their collective noses about how shameful our debt-ceiling negotiations have become, this nugget of news comes out of Spain.
I’ll concede… the childish, self-interested, short-sighted, petulant, irresponsible, shallow, and annoying behavior of our elected officials (not to be critical) casts the U.S. in an unflattering light.
But, at no time during the financial crisis and the subsequent bailouts did we even consider using a professional athlete as bank collateral.
I wonder what it would cost to buy a Credit Default Swap to hedge the risk on Ronaldo.