Gold Magazine January - February 2014, Issue 34

s u r p y c A new report entitled Crisis Investing in Cyprus promises to make us rich. By John Vickers A brand-new guidebook has recently been published in the wake of the Cyprus financial crisis. In it, Doug Casey, the highly respected author, publisher and professional investor, and Nick Giambruno, Senior Editor of Casey’s InternationalMan.com, take a first-hand look at the speculative opportunities for investment in the island, which they interestingly describe as “The Florida of Europe” when discussing opportunities to buy beachfront properties. Giambruno notes how “Doug Casey and I were recently in the crisis-stricken country of Cyprus. While we were there, we found some pretty remarkable bargains on the Cyprus Stock Exchange. Companies that are still producing earnings, paying dividends, have plenty of cash (in most cases outside of the country), little to no debt, and trading for literally pennies on the dollar.” Another well-known US investor, Jim Rogers, responds to this by saying, “It’s also obvious, after what happened in Cyprus, that it’s a place where one should investigate. Whether it is right to buy now or not, you are certainly right to look into it. If you stay with it and you know what you are doing, you do your homework, you are probably going to find some astonishing opportunities in Cyprus.” In a lengthy advertising piece for Crisis Investing in Cyprus, Giambruno promises to “show why Cyprus is by far the crisis-investing opportunity with the biggest upside in the world right now, and how you can get in by buying assets at fire-sale prices.” And he goes on: “Who the hell would in- vest in Cyprus? Good question. Most people couldn’t find Cyprus – a small island nation in the eastern Mediterranean – on a map. And most likely they’d never even have heard of it if it weren’t for that pesky EU-ordered “bail-in.” He then gives a brief summary of what happened in these words: “The two larg- Big-time investors are poised to move in and take advantage of the opportunities available

Gold Magazine January - February 2014, Issue 34 | Page 58