Why care about currencies when you can simply hedge your US Dollars with spot forex and collect the positive carry?Quote from PohPoh:
If you buy a $100 dollar stock in 2003 that pays 6% dividend in DOLLARS or in EUROS..assuming both stocks move at the same velocity, which would have made more money? How about dividends in Krona, Yen, Franc, Canadian Dollar, Singapore Dollar, Aussie Dollar...?
Quote from makloda:
Why care about currencies when you can simply hedge your US Dollars with spot forex and collect the positive carry?
Why doesn't Schiff explain to us why it's better to outright buy European or Asian stocks than buying US stocks and shorting the corresponding amount of US Dollars and going long Euros, AUD and NZD?
I'll tell you why. Schiff has been claiming US equities are in a historic bubble and remain grossly overvalued and at the same time he claims the grass is greener on the other side and says European and Asian equities offer amazing value propositions. He is acting as if markets were completely decoupled. Did you ever hear him say how European small and mid caps have been trashed and burned in the last 12 months? Down some 30%? You won't ever hear him say that. He will always just repeat on how the US is in a recession and you have to liquidate all US stocks right now and invest in 'quality foreign equities'.Quote from PohPoh:
Why doesn't he?
I don't know...
Which is a more conservative bet?
I would say his play is...
Quote from makloda:
P.S. If Schiff is so smart and called the 'housing bubble', why was it PAULSON & CO that made billions shorting subprime paper? Where was Schiff that moron? Giving interviews on TV again????
Quote from Landis82:
Really?
Care to support this claim with a link to his track record in MAR?