Statusopdatering!
11/09: Dear followers, here are my thoughts on the markets.
Having been a Euro bear so far this year, QV's now turns more constructive on the Euro. What we know = a. ECB is starting to gain some of it's lost credibility b. EU politicians have gained precious time to work on more 'EU federalism' layouts, while c. european periphery looks set to enjoy cheaper funding and d. FED's heading to QE3 . Based on recent history, one has to remain sceptical about EU leadership's willingness to take action. But high risk premium upon european assets, due to the tail risk of EZ's collapse, has recently started to narrow and may continue to do so in the s/t. The EUR, even after it's recent rally, is still lagging other assets and QV would be looking to own it against primarily USD, YEN & CHF. If QV's view is correct, we may be looking for a 4-5% upside from the current levels. Enjoy the ride, QV
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