Big vote in Italy today – forcing Italy’s Prime Minister Matteo Renzi to resign:
- Bloomberg – Italy Sinks Into Political Limbo as Defeat Sweeps Renzi Away
- MarketWatch – What to know now that Italy has voted ‘no,’ with Renzi set to step down
But, just like Brexit and Trump’s election – the predictions of market chaos are not coming to be:
- MarketWatch – Dow industrials set sights on record high as investors look beyond Italy’s political shakeup
- Business Insider – Italian markets surprisingly relaxed about Renzi’s crushing referendum defeat
And then there is this from Zerohedge:
Here are the equities that make the “stocks to own” screen this week:
| Ticker | Price | Fair Value | Margin of Safety | Yield % |
| AMGN | $144.01 | $194.00 | $49.99 | 2.8% |
| MMP | $69.21 | $76.00 | $6.79 | 4.7% |
| WMT | $70.88 | $76.00 | $5.12 | 2.8% |
Click on the links to research further.
Results are based on the following screen:
- Low fair value uncertainty.
- Wide moat.
- Morningstar rating 4 or more stars.
- Financial Health Grade >= B.
- Current P/E <= 20.
Extra – Best article I read this morning – will make you think:
- Business Insider – BERNSTEIN: China’s insane spending on robotics is fundamentally changing capitalism
This is a chilling quote: “China is not getting rid of the work. It is just getting rid of the workers.”
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