A TRADERS' MONTH IN NORTHERN ITALY 🇮🇹
La Dolce Vita Indeed.
Over the next 12 months I’ll be slow-travelling around the world with my family while working and trading. I’m very grateful that our ‘job’ gives many of us the opportunity to do this, so I thought it would be interesting to note down some thoughts along the way, which may hold some nuggets for other traders, or people considering to do something similar. As always, reach out if you’ve got any questions, or you can unsubscribe here.
Per ChatGPT:
"Nestled in the heart of Europe, Northern Italy is a region that epitomizes the charm and elegance of Italian culture. From the awe-inspiring peaks of the Dolomites to the serene shores of Lake Garda, this area is a tapestry of natural beauty, historical grandeur, and gastronomic delight.
Northern Italy is a treasure trove of history, with cities like Verona, home to the ancient Roman amphitheater and the legendary balcony of Shakespeare's Juliet, offering a glimpse into its storied past. The region is also renowned for its majestic Renaissance architecture, epitomized by Milan’s grand Duomo and Leonardo da Vinci's masterpiece, The Last Supper.
The natural splendor of Northern Italy is equally captivating. The rolling vineyards of Piedmont and Lombardy produce some of the world's finest wines, while the majestic Dolomites offer unparalleled opportunities for hiking, skiing, and mountaineering. Lake Como and Lake Maggiore, with their tranquil waters and picturesque villages, provide a perfect setting for relaxation and exploration.
Culinary enthusiasts will find Northern Italy a paradise of flavors. The region's cuisine, famous for its hearty and refined dishes, includes delights such as Risotto alla Milanese, rich polentas, and the iconic truffle dishes of Alba. Pair these with local wines like Barolo and Amarone for a truly authentic experience.
For travelers, Northern Italy promises a rich tapestry of experiences. Its blend of historical depth, natural beauty, and culinary excellence makes it a must-visit destination for those seeking to immerse themselves in the quintessential Italian lifestyle."
LOCAL EXCHANGE / CURRENCY:
1AUD = ~0.60EUR
Milan Stock Exchange.
The top five largest firms listed on the Milan Stock Exchange by market capitalization in 2024 are:
Enel - A multinational energy company and a leading player in the global power and gas markets.
Intesa Sanpaolo - One of Italy's largest banking groups, offering comprehensive financial services.
Ferrari - The iconic luxury sports car manufacturer known globally for its high-performance vehicles.
Eni - An integrated energy company involved in oil, gas, and renewable energy.
Stellantis - A major automotive manufacturer resulting from the merger of Fiat Chrysler Automobiles and PSA Group.
Related Reads:
TIMEZONE:
GMT + 2 – EASTERN EUROPEAN TIME
8 hours behind AEST currently.
Same as Sicily, an absolute prick of a timezone to trade the Australian market.
CONNECTIVITY:
My internet run continues. 10-20mbps. Worse the closer you get to the Alps.
BROKER AVAILABILITY:
No issues with any brokers.
SAFETY:
Zero concerns, but warned multiple times about petty theft in Venice.
FOOD:
The way we’ve decided to ingratiate/immerse ourselves in the culture of each country we live in is through Food & Drink. We cook local recipes every day, and try to eat and drink like the locals do. It’s a tough job but somebody has to do it.
We were fortunate enough to stay a month with family and from my experience, Northern Italian cuisine can basically be summed up in 3 words: Bread, Pasta and Cheese. Lots of it, at every meal.
Bread is not for eating as a side with butter. It is for dipping into the sauce of whatever you’re having, or loading with copious amounts of one of the 5 types of cheeses put out on a platter at every meal. Carbonara and Amatriciana are staples, and despite being close to Bologne, you would struggle to find an Italian that has ever heard of a thing called Spaghetti Bolognes.
The Cheese is from a cousin in Emilia-Romagna, the melt in your mouth Sopressa is from a neighbour and only available for 3 months of the year, and the bottle of Prosecco enjoyed at every meal is from an amico the next town over.
My top local eats were:
Sopressa. Unlike anything I’ve had in Australia.
Carbonara, with Guanciale (Pork Cheek). NO CREAM.
Pizza. It just tastes better here.
Squacquerone. The best cheese you’ve never heard of.
DRINK:
These people love to drink. When comparing to the North to the South, they admit that while the Sicilians / Puglians eat more (not sure how that’s possible), the folks in the North drink more. Standard procedure is to stop in at a bar for an Aperol Spritz every day after work, and it helps that they’re ~50% cheaper here than anywhere else in the world, at ~€3. Their local ‘metho’ equivalent is Grappa, made from the Pomace of the wine grapes. Not too bad. My wife’s Nonna had this every day of her adult life in her coffee until she died, aged 90, so must be good for you.
Would also be rude not to partake in the Prosecco, as this is the finest region in the world for the white bubbles.
COST OF LIVING:
Not quite in the same league as Australia yet, but overall probably ~20% more expensive than Southern Italy. As a simple example (although one of our major expense items), a 2 scoop gelato cost €2.50 across Sicily, but averaged €3.50 in the north.
To be honest, we didn’t have to pay for a great deal since we were staying with family, but grocery prices seemed similar to Aus, however a lot of purchases (Wine, Cheese, Meats, vegetables) were bought through friends/family at much cheaper prices.
Price for a large family home is ~€400,000, and rent reasonable, ~€1,000 p.m
VISAS
Italy is also part of the Schengen area in the EU, which allows Australians three months of access to all participating countries. I was actually confident of receiving a Residence Permit due to my family having Italian Passports, but they preferred the Boat people from Africa, so rejected me.
After the debacle in Bali, I was half expecting a hefty fine when I left 2 weeks outside of my Visa Expiration, but nobody seemed to care on my way out.
MUST-HAVE APP:
Google Translate, Duolingo, Chat GTP, Google Maps.
QUICK FIRE CLOSING COMMENTS:
We stayed in a little town called Asolo, surrounded by Vineyards and the Italian Alps. Probably my favourite place of the entire trip so far. Tom Cruise and co. are regulars, and Wyatt Rockefeller ‘bought’ out the town for a weekend for his wedding.
VIEW FROM THE HOUSE TO ROCCA DI ASOLO Home was an beautiful old stone Italian house, complete with rustic outdoor pizza oven. Beautiful, peaceful, and quiet. A large property, there are 3 families who live in semi-detached houses on the block (total of ~12 people), as well as each of the 3 neighbouring properties also belonging to family. The family ties are impressive, and within the first 3 days of us being there we must have had 50+ visitors from various family lineage, all who lived within 10 minutes drive. Maybe this is an ingredient as to why they live longer than us?
HOME, FOR 3 FAMILIES Venice was ok, but very expensive and didn’t feel very ‘Romantic’ with hundreds of thousands of tourists pushing their way around the island. Enjoyed the day cruise to Morano (glass-making capital of the world) and some of the other islands. Recommend you eat plenty of ‘Ciccheti’, the Italian version of Tapas.
Venice, & Cicchetti These guys love to party. Frequently explained to me that 95% of most peoples income (when under 40) is spent on ‘da party’.
Interesting that whether you’re a billionaire or a pauper, everyone gets the pension in Italy. Varies depending on what your employment was, but one family member was getting ~€2,000 per month. Not bad when the rent in the area we were staying was only ~€600 per month. “Early retirement is possible with at least 41 years and 10 months of contributions for women and 42 years and 10 months for men.”
Everyone in Italy is petrified of coming to Australia because of snakes. I saw more (non-venomous) snakes in Italy than I have in my entire lifetime in Australia.
I’ve been an ardent nap-taker since I was in my late 20’s. At least 90% of days I will take a nap. For me, I feel like I’m getting 2 days for the price of 1. I’m alert and productive 100% of the time to give as much energy to my family / work instead of stumbling through the afternoon / evening. So I was completely at home in a culture where an afternoon siesta is not just optional after a large lunch, it’s mandatory. The loud calls of ‘Buono Siesta’ rang out every day in the household.
I understand why European’s take July / August off and is hectic everywhere across the continent. Absolutely cracking weather throughout all of this region, followed by 10 months of shite.
Definitely recommend exploring this part of the world during summer. I definitely felt at ‘home’ in this part of Italy. Maybe it was because we were around family, but life sure seemed simpler, slower, and more enjoyable. Food, Wine, Friends and Family….what more do you need in life? Would definitely consider moving here at some point.
La Dolce Vita!
Off to the Philippines now for some work while the family explore Austria. Ciao.
Marto