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Strategies & Market Trends : Value Investing
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To: Don Earl who wrote (32070)9/18/2008 4:26:33 PM
From: Paul Senior  Read Replies (1) of 78671
 
"If the essence of value investing is based on fundamentals, as denominated in US Dollars, is anything a good value when the fundamental value of currency on which it is based is poor?"

Imo, yes, because it would be $in and $out.


For USA citizens buying stocks of USA businesses, selling those stocks, using the proceeds to buy USA goods/services/other stocks, then even though the "fundamental value" of the USA currency might be poor, the "essence of value investing based on fundamentals" -- buy low (i.e. undervalued)/sell high (fully valued) --is intact.

For somebody with a strong currency coming into the weaker currency country, those fundamental values are even stronger. Example: British people finding USA vacation homes compellingly cheap - cheap relative both to their country's vacation home prices, and cheap fundamentally in $ compared to construction/replacement cost (also in $)

Jmo anyway.
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