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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: JMD who wrote (3097)4/18/2001 5:29:48 PM
From: KyrosL  Read Replies (1) of 74559
 
>>Does anybody here know how to effectively implement a 'long foreign currency--short dollar' strategy?<<

I have recently bought FAX as a dollar hedge and low risk resource play. It's a closed end bond fund mainly in Australian investment grade bonds. There is a proposal to diversify into other Asian bonds of varying quality in order to maintain the high dividend, 50% of which is currently return of capital. It sells at around 20% below net asset value and reflects all time lows of the Australian dollar versus the US dollar.
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