I remember Warren Buffet getting long Yen about a year or two ago.Â Was he lucky or just shrewd?
After seven years of providing the cheapest source of funds for investors buying higher-yielding New Zealand dollars, Australian dollars and Brazil reais, the yen is appreciating as $587 billion of subprime mortgage-related losses force banks to restrict credit. It strengthened 4.4 percent on a trade-weighted basis in September, according to the Bank of Japan's effective exchange rate, the most since August 2007, when the seizure in capital markets began.[via Bloomberg]
Shrewd is the answer.
From around the Social Web!
Want to leave a comment?
If you want to give me some feedback on this post, please contact me
via email or on Twitter