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2021 is confirming itself, as we feared, to be very contradictory. We are clearly at a delicate turning point on three fronts: economic, financial and pandemic. The exit from the pandemic tunnel seems close and the global economy may be on the threshold of a historic economic boom. But it's not all gold that glitters: the huge injections of liquidity and public spending will not be exempt from side effects partly worse than the problems they would have wanted to solve...

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The optimism, with which 2021 has started, continues to belie the skepticism that BlueStar has been nurturing for a few months. Intellectual honesty (which is different from consistency) remains a guiding star for us. If the facts change, we must have the courage to change opinion, but dressing up as bears or bulls depending on which way the wind is blowing does not belong to us.

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Totally unexpected, at least as far as I am concerned, Mario Draghi was given the mandate to try to form a new government, which he has accepted with reserve. Never ever would I have thought that an Iconic person of IMMENSE international stature could accept to get muddy in the swamp of current Italian politics.

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