Norwegian Kroner Grabs the Spotlight…
Tuesday, April 28, 2009
While Day 2 Ends With a Buzz in Bermuda
“36 month or 18 month ma’am?”
That was the question at the private “tasting” party last night. Only the fortunate ones here at Total Wealth Symposium weren’t tasting wine…or any other traditional vintage.
No, they were tasting tequila.
Specifically, Ambhar tequila – a rare, fine drink imported from Mexico. Last night, crowds literally lined up behind the bar to sample the dark, oak-colored 36-month aged tequila, or the lighter, almond-shade 18th-month tequila.
And here’s the interesting thing: Every single drink was pretested by the Ambhar tequila expert, Paul Groepler, one of the presenters here at Total Wealth Symposium and our host for the tequila tasting last night.
Our host also served three more cocktail-type drinks, the “Ambhar-tini” (like a Mexican martini made with you guessed it – tequila), the “Ambhar-ita” (made with champagne AND tequila), and the “Ambhar Cosmo,” (tequila, cranberry, lime, and Cointreau).
So, as you can imagine, day two ended with a buzz for the attendees here in Bermuda last night. But that didn’t diminish the wealth of information we all heard from the presenters throughout the day.
As your eyes and ears here for FX University, I was mainly focused on the currency plays presented yesterday at the Total Wealth Symposium. And I was surprised that two different speakers were focused on the same currency…the Norwegian kroner.
The Word from Switzerland
Robert Vrijhof is always a house favorite. He has been speaking with The Sovereign Society pretty much since there’s been a Sovereign Society – over 10 years now.
As a Swiss asset manager, Robert always has the latest on Swiss and Liechtenstein banking and other money management tricks of the trade.
But as an investment expert for over 20 years, he also brings his insights on how to stretch your portfolio across the most profitable asset classes…yes, even when stocks are sinking all over the world.
This year, Robert has his eye trained on government bonds – specifically government guaranteed bonds from sovereign-rated nations.
But again, here’s the interesting twist: He’s only looking at a few sovereign-rated nations that have the backing of printing presses to fulfill their debt obligations.
Specifically, he has his eye on Norwegian government bonds – with a 5% coupon, and a 3.3% yield. Plus, Robert is looking for extra currency appreciation from the Norwegian kroner – just voted best currency in the world by Time Magazine.
Truthfully, he’s not the only one. Frank Trotter had a thing or two to say about the Norwegian kroner as well…
The Road to Perdition…
Yesterday, Frank Trotter, aka “EverBank’s Big Boss” stepped up to the mic to introduce what he feels is the single greatest threat to the U.S. economy…
“The U.S. debt situation is a road to perdition as far as I’m concerned,” he announced to a packed house yesterday.
He’s looking at not just the estimated 14 trillion in debt that Chuck often discusses here in FX University. Frank was also talking about the hundreds of billions of stimulus, and extra paper that the U.S. government continues to dump on our already bleeding economy.
Frank also made an interesting comparison. He pointed out that in the last year the S&P 500 has dropped 10.8% while currencies with long-term strength potential like the euro actually rose last year (even after suffering the strong dollar.).
The Aussie had an even more interesting story in 2008. It’s no secret that the Aussie dollar took a beating last year – falling 38%. But few people realize that even with those losses, overall the Aussie dollar is STILL up 35.9% since 2002.
But when asked about his favorite currency this year, surprisingly, Frank didn’t talk about the Aussie dollar. Instead he has set his sights on the Norwegian kroner.
As long-time FX University Daily readers know, the Norwegian kroner has been a long-term oil currency. This well-managed country used its oil revenues when oil was flying high to get its balance sheet in order and even built a pension fund for the entire country. In fact, right now, they have pension funds set up for any future Norwegians – we’re talking about the unborn Norwegians here.
(Compare that to Social Security here in the U.S. that just creates more debt obligations…and no one knows how long it will last.)
By the way, Frank had plenty of interesting ways to buy the Norwegian kroner as well…specifically through EverBank (hint, hint).
Just a Taste of What’s to Come…
As much as I enjoyed the currency insights (particularly the Norwegian kroner tip yesterday,) I know this is just a small glimpse of the currency insights that are to come here at the Total Wealth Symposium.
The real currency action takes place on Wednesday. As I said yesterday, we’re hosting a special three-hour long “currency bootcamp” just for our currency experts, Chuck Butler, Ashish Advani, and Cornelius Luca Wednesday afternoon.
They’re taking our attendees through all aspects of currency trading from the lower-risk, buy-and-hold plays to the opportunities for greater gains in the Forex market. Plus, they’re hosting a special panel discussion where they’ll be answering all our attendees’ currency questions.
In fact, I’ve taken at least a dozen requests to meet one-on-one with our currency experts from our attendees in the last two days. And I tell them all the same thing: Just wait until Wednesday…they’ll answer your currency questions at the seminar.
And here’s the really good news: We’ll be recording the entire seminar for everyone at home. We’re making it available for you this week when you subscriber to our monthly newsletter, the Currency Capitalist for the usual price of US$49.
In fact, the currency bootcamp audio is a FREE gift to you, just for becoming a member this week.
Keep in mind, we usually charge US$129 for our conference recordings. And this particular currency boot camp audio will sell for US$129 the moment this conference ends. But we’re giving it to you for US$49, just for trying a risk-free membership to our monthly newsletter.
It’s simple. You get 12 issues of our monthly currency newsletter, packed with insights about which currencies to buy, sell and hold (and specifically HOW to buy them,), plus the audio from this dynamite three-hour seminar…for US$49. (Click here for more details.)
Till Tomorrow.
Good Currency Investing,
Kat Von Rohr
P.S. Remember this offer ends the second the conference ends. So if you’ve been considering membership, I urge you to take a moment and sign up right now so you don’t miss out on this special presentation. Get the details here.
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