And appeared March. Seminars and conferences of renowned experts are announced, which will analyze the growth projections of the world economy and its repercussion in Chile. This will remind us that, despite the great effort to diversify our economy, we remain a country that depends on the behavior of the prices of its natural resources. There will also be an analysis of the political situation, the structural reforms being carried out and a new political constitution. We sincerely advocate that the constitutional discussion move from the procedural to the content, because the country needs a deliberate deliberation about the convenience and benefits of modifying what and in what way the current 15 chapters that make up our fundamental charter. In addition, the public resources effort that such changes may involve and their effects on the sustainability of our country’s “strategic plan” should also be an essential part of this discussion.
And a new scandal hits us this month. A significant number of compatriots who have spent (unfortunately the lifetime savings in some cases) on the company AC Inversions are very likely to lose more than 60 billion pesos that their managers managed to capture. It is not clear whether it is a pyramid scheme (Ponzi or Maddoff) or another. A financial tragedy and at the same time a contradiction: a society with such high levels of mistrust but credibly buying promises of profitability that are fancy. It may be, as we remembered a few days ago the distinguished psychiatrist Ricardo Capponi, that this credulity is the extension of an anxiety that has settled in many Chileans for “giving the bat to the cat.” It also draws attention to the absence of effective early warning means to avoid or at least mitigate the effects of such incidents.
When making investments you have to be careful and diligent. This holds true for people as well as for companies. And for those who are in the business of managing other people’s savings, this implies a true commitment to the client entrusting them with the management of their wealth. It means to be really charged in time, form and above all in the depth of the trust or trust duties that this task involves. Acting in the best interest of the customer always has to be part of the essence of the business model and that has to be clearly visible from the manager’s practices. And customers have to make that quality judgment to discriminate between managers.
Juan Pablo Bórquez Y.
BY I BórquezYunge Advisors