Multi Currency Portfolio Update Downwards Shift


Multi currency portfolios cannot always go up!

 

I am sending this update early as extra attention to our portfolios is now required due to the downwards shift in market sentiment.

 

Here is the latest review of the five multi currency portfolio’s were have tracked since November 1, 2006 (seven months).

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The three equity oriented Swiss Samba, Emerging Market and Green Portfolios all eased back a bit.

Thomas Fischer at Jyske Bank sent this note with this update.

Hi Gary ,   The markets this week has turned very sour indeed. This morning the Danish market is down another 2% after falling more than 2% yesterday and I personally expect quite a retracement especially in Denmark as it is one of the top performing (hot) markets.

“In times like these it is important to remember that shares move in both directions something that new investors really haven’t experienced. As US 10 year treasuries moved past the 5% yield mark yesterday (5.10%) some argue this is the end of the cheap money era and that we will see risk aversion creep into the markets. Some of the victims in this “chips taken of the table” scenario will of course be overvalued hot equities and some emerging market currencies perhaps also a strengthening of the Yen (liquidation of the carry trading) and the USD (higher interest rates). I am sure however that fair valued quality stocks/companies and blue chips will rebound and as an investor you should stick with investments/companies you believe in and which you expect will perform over the next 12-18 months.  It will be exciting to see how this will influence our sandwiches but I am sure we all learn that free lunches will never be accepted in the market place or in the food industry but our sandwiches are still tasty and succulent but we have just bitten into a spicy red hot chilli pepper!”

Until till next update, stay close to your investments and take care.

GarySee attached file.

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