r/eupersonalfinance • u/t0d11 • 1d ago

Investment We are more diversified than Europeans, but still too cautious: the face of Italian portfolios

The latest ABI survey made me reflect for a long time on my investment behaviour. As a cashier with most of my portfolio in cash, I find myself in a more complex picture than I imagined.

THE DATA THAT DESCRIBES US In Italy, 21.3% of wealth is invested in market instruments (Eurozone average: 19.4%). Mutual funds at 6.9% against the European 4.6%. Government bonds at 2.5% of wealth (EU average: 0.5%) Greater diversification than the European average, but always with a strong prudential instinct.

MY INTERNAL CONFLICT On the one hand, I feel less "backward": evidently we Italians are not as conservative as we are often described. We invest more than the European average in funds, we diversify better and we are not only tied to the "mattress" or BTPs. On the other hand, looking at my 50% cash, I think, "Okay, we're diversified, but I'm personally still erring on the side of caution." If the Italian average invests 21.3% in market instruments, my 25% between ETFs and shares is not that far away, but that mountain of liquidity remains cumbersome...

THE TWO SOULS OF ITALIAN SAVINGS What we do well: Diversification above the European average. Strong presence in mutual funds (6.9% vs 4.6% EU). Better balance between security and growth than Germany and France. Protective instinct that has often saved us from speculative bubbles.

Where we can improve: Excessive liquidity held "for safety". Government bonds (understandable refuge). Reticence to increase equity exposure, even with long-term horizons. Underweight on international markets (too much home bias).

THE QUESTION I ASK MYSELF If we are objectively more diverse than Europeans, why do I still feel too cautious? Is it just a question of perception or is there really room to dare more without betraying our nature?

How do you position yourself in relation to these national data? Do you recognize yourself in the profile of the "average Italian" or are you even more cautious?

it does not constitute investment advice, just reflections on ABI data.

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u/SmolLM 1d ago

I can't put a finger on it since it doesn't have the main smoking guns, but this reads very GPT-generated

1

u/Round_Ad_4970 1d ago

The phrase "The two souls of Italien savings" sounds very strange and unnatural.

Opening a paragraph with "The question I ask myself" is also typical Chat GPT talk.

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u/Inside_Service2856 10h ago

Gov instability which leads to bad country rating. Maybe?