Dodging Euro Exposure
If you were planning on moving cash into a foreign currency deposit account to avoid the Euro disaster what currency would you pick. i.e So as not to be overly exposed incase the worst happens. Time frames 12 months for the account and the AER's listed beside the currency.
Here are the options:
USD - 1%
GDP - 1.8%
CAD - 1.5%
CHF - 0.2%
AUD - 4.6%
NOK - 2%
SEK - 2%
My moneys on Norwegian seeing as it has an average return and low volatility in late April/ early May when the latest "Greece Bomb" fell.
Any other thoughts?
why not just do a short euro etf?
True, but my knowledge of etf's is minimal, and the popular ones like ProShares UltraShort Euro seem pretty volatile....but no reward without risk. I think Id like to put the bulk of the cash into foreign deposit and forget about it and try and short the rest. So....ideas on currency deposits?
Edit: UltraShort Euro actually seems like a good choice for a portion.
fyi, there's potentially a short ban on european equities
Gold, short EU etf, singapore dollar. In that order. FYI, shorting the Euro is not an equity trade.
oh, you're right. my bad
No worries. Sorry if my post came off as dickish- didn't mean it that way. I just remember scrambling around and looking into this last year when the Euro countries banned shorts on financial equities.
If you want to learn about the shit storm coming in Europe, read up on Kyle Bass from Hayman Capital. He's pretty much predicted everything that's happened. Recently, he's been focusing on Japan. But, he was one of the first making bets against the Euros. Dude made about 9 billion betting against Greece before anyone else even thought there was trouble. Piggybacking him has been nice.
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