take into consideration that tariff. But over the long run, it seems as if to me that the dollar is one of the most consensus trades in the world. Our funds are based in dollars, so we have to take that into consideration when we invest overseas. But if you look at the DXY, the trade weighted basket of currencies, generally these levels, you know, Sir John has an interesting graph he gave me a long, long time ago. It basically showed the trade weighted dollar going up. And on one side, he wrote time to invest in US names. It showed the trade weighted dollar going down and he wrote on the side time to invest in foreign companies. And in 1990, when he gave me the graph, it was at a low and he wrote on the side time to invest in US companies again. Well, we're at a point in time where the currency buys you a lot overseas and the dollar is very sort of crowded. So I'm happy to slowly be looking to increase non-dollar weightings in our funds. I'm actually interested to ask you about this (34/57)
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