Fri 14 Jul 2006
I just saw that someone is trying to put together a currency ETF.? It sounds vaguely like the Uberman Portfolio, but I have a feeling that UP is doing something different.
You can read about it at the Abnormal Returns article on the topic.
July 15th, 2006 at 11:41 am
Yes, this is quite the opposite of UP. What this fund is trying to do is buy the high yield currencies based on the idea that they should be more likely to go up since more people want to own them. In other words, they are going to take on massive directional exposure. This is what I sought to avoid in the UP. I want only the interest and I’m not going to try to rest the future of my money on a theory that they “should” do one thing or another.