It's a great day for golf

It's a great day for golf today- sunny and warm in the Southeast of England. So Macro Man has spent the morning on the links with his father, who's visiting from the States. Despite getting caught behind the group picture to the left, it was still a highly enjoyable day. Certainly it was more profitable than trying to trend-follow some popular positions, such as short European equities....

...short NZD (pictured below versus AUD)....
...or even short USD/JPY.
Still, Macro Man supposed that you have to throw a bone to the quarter-end window dressers, fixing front-runners, and assorted noise-makers.

Tomorrow is another day, month, and quarter; fortunately, the problems in the US and elsewhere are the same old, same old.
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June 30, 2008 at 3:45 PM ×

Hi MM,

Just a reminder that the Russell indexes changed as of the close Friday (I heard surprisingly little about it this year). This might help your big cap/small cap strategy, as several of the energy companies that have done well move from the 2000 to the 1000, and such high quality financial companies as Ambac and MBIA move from the 1000 to the 2000 (both now "small cap" stocks). Basically in the 2000, the percentage of energy has gone down, and the percentage of financials has gone up.


July 1, 2008 at 12:48 AM ×

I so agree with you, the problems here in the States are not going away anytime soon. I am also starting to believe that the trouble is drifting to our neighbors to the South. Latin America seems to me to be starting to struggle a bit.

I could use a round of golf also !!