"What was surprising about the lunch was where the attendees are putting their money. Topping the list were vacant office buildings, farmland and Africa. Stocks look attractive, but the attendees pointed out that no one has made money investing in the indexes for 12 years. “Few were enthusiastic on gold. Many liked Brazil and some favored India.”
As for the current craze among banks and some investors to borrow at low, short-term interest rates to invest in longer-term bonds, one attendee asked, “Has there ever been a carry trade that hasn’t ended badly?”"
As for the current craze among banks and some investors to borrow at low, short-term interest rates to invest in longer-term bonds, one attendee asked, “Has there ever been a carry trade that hasn’t ended badly?”"
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