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Real Assets Adviser

June 1, 2015: Vol. 2, Number 6

Learning from the Greeks: The 'march of folly' is written deeply into human DNA

Author: Hugh Kelly

Commercial property investors, like investors in stock and bond portfolios, love to borrow from the Greeks. This is not meant in the sense that the Greeks themselves loved to borrow from German banks a decade ago, only to wind up Europe’s test case for working out national fiscal policy when a common currency places monetary policy outside a country’s domain. I mean instead the easy adoption of the Greek alphabet to describe investment approaches.

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