I have to go through this every time I get a new relationship manager. Inevitably they would recommend me some bad product which they don't even understand. I told him the AUD is likely to weaken...but I am not monitoring this one. Today I saw from an WSJ email the AUD has weakened markedly. I just checked Bloomberg that it is buying S$1.2206 now. Well this is just a snapshot but look at the driving forces, the Aussie commodity story is over.
These guys don't know their work and add no value to me. That's fine, but I am beginning to wonder what they do for other clients. I cannot be the only one they sell these silly stuff to.
The retail investor usually lose money. No wonder he would prefer to go into property. That game would get really dangerous if the government achieve a soft landing this cycle. The market always need a healthy dose of fear once in a while but politicians hate it. Just as the Trojans should beware of Greeks bearing gifts, investors must beware of the Big Idea, the sure bet.
Update: May 31
Since my last post he had emailed me again. He wanted to exchange notes with me, I think like those before him are a waste of time. He is still talking the bull in the AUD. Because of this mail from the WSJ, I just checked and lo and behold it is at 1.2148 now.
And do you think it can't get lower? Dream on. Always know where gravity is and if you have cheap hot air to lift you.
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