Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: pezz who wrote (39351)	10/9/2003 1:43:03 AM
From: TobagoJack	Read Replies (2) of 74559

Hello Pezz, The Afternoon Report: My broker siphoned off about 50% of my Japanese Yen cash balance for repayment of this loan mention to you earlier Message 18085573 <<October 8th, 2002>>. The Japanese Yen loan, if accounted for independently, probably did not earn any return and only incurred an interest cost, given that I was at no time less than 30% in cash during 2003. However, the money did provide liquidity, did not cost much, and did not harm YTD returns to any material extent. I will soon sign the paper work to replace the lost Japanese liquidity with newly exploitable US deluge. The Japanese loan, if taken out now, will cost 1.8% per annum, and the US loan would cost 3%. Given the likely tanking of the USD, a loan in that currency seems well advised. I will think about how to deploy the loan proceeds when I have to think about it. I may just use the leverage to load up on NEM. Chugs, Jay

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