Hello Pezz, Morning Report: <<ugly>> I completely understand the situation.
(a) I am feeling completely foolish for having liquidated so much of my EURO, CAD, AUD jumbo fixed deposits earlier and converting same to HKD so as to be able to play the Iraq War/gold/stock game. I have completely fubbed it;
(b) I am feeling uncomfortable about HKD due to SARS, not only because the economic cleansing is uncomfortable, but also because the int'l and domestic speculators may mount attack on the currency peg with USD at this inconvenient time;
(c) I still do not feel secure about holding USD, given peace-keeping duties, their cost, debt levels, deficits, lack of munitions, and the printing press; so
(d) Many of the fabled and quick-moving HKD troops took off their uniforms and got into CAD, AUD, Paper Gold costumes this AM, readying to participate in the burning and looting of ugly space of HKD/USD space.
(e) I am now at ...
Cash 31.7% of gross assets (4.0% Euro, -6.5% USD, 8.6% AUD, 3.2% CHF, 7.8% HKD, 12.4% CAN, 1.2% Japanese Yen, 1.0% ZAR)
Physical/paper Precious metals 11.57%
Bonds 20.4%
Rental Real Estate 22.1%
Equity 14.3%
YTD NAV gain/loss managed to struggle back to positive territory of 0.7%.
Chugs, Jay |
