€uros
Back in 1998, I successfully predicted the stock market bubble bursting. I was off by only a couple of months, but two years ahead, that’s pretty damned good.
I grew up watching currency rates. With our annual trips next door, it was fun figuring out how much further my allowance would go in Canada. I also remember a few times when exchange rates went the other way ‘round. Absolutely crushing for a young boy.
Since my family now owns property there, they require a Canadian bank account to pay the taxes, utilities and whatnot. Earlier this year my mother begain moving funds from the US account to the Canadian one expecting a fall in the US dollar. She was right and has made about 20% so far.
I was an early supporter of the Euro. I enjoyed watching the plan come together over the course of a decade, laughed at the naysayers, and when it finally became the new, everyday currency in Europe, I predicted it would rise in value against the US dollar to $1.30 in two or three years.
That came to pass last week.
I am now predicting $1.55.
I feel this will be in less than two years and that both the amount and timing are conservative. Buy Euros. You’ll thank me later.
