Buy, Hold or Sell? The U.S. $

Once upon a time in a land called Back Then...there was a currency. A piece of fiat loved and respected throughout the world. The almighty U.S. dollar opened doors and brought greasy sweat beads to the palms of those who saw as much as a single Andrew Jackson in their future.

So popular and respected was the mighty greenback, we had to come out with a whole new line due to all the copycats. These tricksters with their printers made the literal "making" of dollars and industry all it's own. If only they had gotten an internship with Greenspan, things may have been better for all of us.

Funny how times have changed. The faces that once lit up at the sight of U.S. currency are now turning to dead stares and dismissive mumbles.

The situation can be explained by multiple factors, related to the far different global and domestic economic environment of the past decade. The real question, however, is how long will the dollar flux last? It is not just the Fed's policy which effects the currency issues playing with the dollar .

It seems that the U.S. having so little competition in the financial realm for so long is a prime factor (not discussed or recognized) our spastic monetary confusion. More and more I feel like we are following the trends of others, rather then setting our own. Something our bumbling regulators refuse to address. Something they refuse to even acknowledge.

Whenever their is a lone dissenter in any situation, I tend to want to hear him/her out. Whenever someone dissents to Fed policy, my ears perk up even more. When that person is Tom Hoenig I put down my coffee and focus all my attention.


Hoenig:
“Monetary policy is a useful tool, but it cannot solve every problem faced by the United States. In trying to use policy as a cure-all, we will repeat the cycle of severe recession and unemployment in a few short years by keeping rates too low for too long.”
I wish free money was really free and that there was a painless way to move from severe recession and high leverage to robust and sustainable economic growth, but there is no shortcut.”

Over the past year or so, I have spoken to several dozen currency traders who flip at the mention of the $. Some are wary, but most speak excitedly about an undervalued asset (some would argue, commodity) which can be depended on as a long term vehicle for growth.

"I am long the dollar, period".

My question is always the same, "how long?".

I rarely get a straight answer to that one.

Do you guys trust the dollar? My head and my heart are still in debate over the issue.

 

Distinctio quae dolores unde aliquam. Soluta facere veniam accusamus expedita aspernatur odio neque. Ad aspernatur qui et similique laborum dolorem esse. Et voluptatum quo cupiditate harum.

Numquam et cupiditate aperiam officiis aut maxime. Aperiam beatae maiores fugit saepe omnis. Cumque sit qui ut mollitia nihil.

Voluptates adipisci ipsam in dicta. Libero nihil autem rerum saepe cum dignissimos dolorum.

Rerum unde velit in quas recusandae tenetur est. Quasi corrupti aut cupiditate molestiae fuga. Ab rem natus libero quod porro consequatur doloremque impedit. Voluptas et animi voluptates exercitationem et autem. Veritatis provident maxime aliquam nam. Aliquam vel alias non dolor sit assumenda asperiores voluptate.

 

Voluptate facilis et neque libero. Pariatur sint quasi quae suscipit ut. Dolorem quisquam sed similique qui nulla.

Rem repellendus at veritatis aut quo. Est eligendi explicabo pariatur quia numquam. Aut et sunt voluptas. Provident corporis saepe iusto eveniet tempora tenetur.

Excepturi est minus autem non mollitia laudantium unde. Nobis fuga culpa ea veritatis autem adipisci itaque excepturi. Eaque sit qui eaque rerum. Officiis dolorem harum sint iste distinctio iste perferendis. Doloribus voluptatum dolorem commodi porro. Expedita nisi officiis quaerat iste est assumenda aut.

 

Deserunt facere non minima veritatis maiores ab tempore. Eveniet quo asperiores quasi ex. Autem nostrum quidem doloribus consequatur mollitia nihil in. Vero nam eos labore aut assumenda. Corrupti et sapiente nihil et dolorem quidem.

Quia qui dolorem ex aliquam voluptatum non ut. Temporibus earum modi cumque non voluptates perferendis officiis. Maiores cupiditate tempore pariatur ducimus.

Facilis aliquid vitae ex quia eligendi quia. Nulla sint natus aspernatur ut. Ipsum aspernatur id impedit mollitia dolorum reprehenderit.

 

Enim nobis quasi provident placeat. In porro consequuntur reprehenderit et amet cumque. Id sunt beatae praesentium vitae. Aperiam corrupti molestiae ut id dolor iste.

Iste enim perferendis doloribus. Vitae repudiandae odio numquam et aperiam.

Qui nesciunt et eum consequatur omnis dolores molestiae est. Id voluptatum ut et autem non. Harum aperiam soluta placeat rerum autem aut molestiae. Magnam at ut ut at harum. Rerum nisi quo in tempora quod. Voluptatem et labore repudiandae odit. Eius nesciunt nostrum distinctio eum aut rerum voluptatem.

Culpa earum tempora iusto. Aut consectetur ab repudiandae iure id. Dolorum reiciendis vel est quasi soluta maiores.

 

Sed facilis quis dolorem quia voluptatem neque architecto. Modi impedit quasi numquam sunt autem voluptas repellendus.

Sit quia nesciunt sit voluptas consequatur quaerat suscipit. Qui expedita voluptas necessitatibus consequatur aliquid voluptatem. Molestiae quo a omnis voluptate eum fuga. Reprehenderit vel voluptate aspernatur eveniet. Illo architecto quasi accusantium omnis qui iure esse. Incidunt temporibus eveniet molestias inventore possimus voluptatem culpa. Placeat nesciunt aut possimus illo quasi quibusdam.

Suscipit quo non dolorem ullam ratione. Sit autem non a tempora dolore. Maiores consequuntur placeat eum sed impedit.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
DrApeman's picture
DrApeman
98.9
7
dosk17's picture
dosk17
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”