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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Sun Tzu who wrote (67799)	2/13/2003 12:32:38 PM
From: chomolungma	Respond to of 70976

I just closed it out against the euro which was my biggest position. I have two other currencies that I'm considering adding to. The euro was never a bet on Europe, but more a bet against the U.S. and its massive current account deficit. But lately (nothing to do with the war), I've grown very pessimistic about Germany. I'm forced to conclude that they will repeat the experience of Japan and go into a period of long-term stagnation. Since Germany is such a big chunk of the euro economy, I felt that the currency had seen most of its gains. Still, I would be willing to buy it back on a modest dip.