May is Manila’s “fiesta” (feast) month. Streets are crowded with people attending town fiestas.
Will the merry month of May also herald the coming months – or even years – of festivities in the country?
Something to cheer and to be merry about?
While jaded business traders may not care, true investors hope so. The country—already badly battered from the spate of tragedies during the post-Ramos administration—hopes that the hot but breezy month of May will be the spark to propel it in the right direction.
Fiestas had been part and parcel of Filipino culture.
Its roots go back to when Spain ruled the world, and its brand of religion was the panacea for all ills.
These yearly gatherings of families and friends feature lots of food, free-flowing beers, and hot gossip. Streets are festooned with streamers, and bands play constantly, reminding the residents of the good times ahead.
But sadly, fiestas also bring a false sense of prosperity, especially in these hard economic times. People, in the spirit of celebration, are sometimes forced to shell out meager savings to get by these ostensibly marked cultural events.
In the same way, investors may be lulled into a false sense of fiesta by the prevailing economic conditions. The naive investor must rid himself of this false sense of bullishness (or bearishness) in the economy and should rather assess each day either as an opportunity or a day to scale down.
Manila’s current political and economic climate is just too testy. It’s better not to fiesta but rather hold that bag of goodies for the rainy days ahead!
But, if you already made your stash in Manila, regardless of the economic direction it moved, then…fiesta on! And don’t forget the lechon!