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Bill Gros's Dec. 2012 Outlook

Posted: Wed Dec 12, 2012 11:02 am
by lks
Educational question only. One of his Pics is Non-Dollar Emerging- Market Stocks. Doe's that mean currency un-hedged? Is Vanguard's hedged?

Re: Bill Gros's Dec. 2012 Outlook

Posted: Wed Dec 12, 2012 11:14 am
by wwross
Can you rephrase? The language is a little too obscure for me. Thanks.

Re: Bill Gros's Dec. 2012 Outlook

Posted: Wed Dec 12, 2012 1:39 pm
by lks
wwross wrote:Can you rephrase? The language is a little too obscure for me. Thanks.
He said, invest in "Non-Dollar Emerging-Market Stocks". What are they?

Re: Bill Gros's Dec. 2012 Outlook

Posted: Wed Dec 12, 2012 1:45 pm
by STC
He either means companies that earn mostly in currencies other then the dollar. Or to own emerging markets stocks in non-dollar terms (i.e. owning emerging market fund denominated in Euro's)

Sounds like a bet to me. He should stick to making me money with his total return fund. Every time I hear him talk I feel like selling it for TBM...

Re: Bill Gros's Dec. 2012 Outlook

Posted: Wed Dec 12, 2012 1:53 pm
by nisiprius
I actually believe it is possible that he said "stocks" and meant to say "bonds." As simple as that. He says the list is from a "TIME Magazine article by Rana Foroohar." That must be Why Stocks Are Dead (And Bonds Are Deader), and I can't read the relevant parts--maybe someone with a subscription can check. However, Paul Farrell refers to it and makes this utterly confusing statement--boldface is mine:
Their stock picks include: commodities, investment protected bond, high-grade munis and non-dollar denominated emerging countries. Their pans are banks and financial stocks, high-yield bonds and long bonds in big developed countries like the U.S., U.K. and Germany.
In context, I think that means non-dollar denominated emerging countries' bonds... as opposed to the dollar-denominated emerging markets bonds that will comprise the Vanguard Emerging Markets bond fund, announced but not launched.

Re: Bill Gros's Dec. 2012 Outlook

Posted: Wed Dec 12, 2012 3:46 pm
by ziszew
nisiprius wrote:I actually believe it is possible that he said "stocks" and meant to say "bonds." As simple as that. <--snip--> In context, I think that means non-dollar denominated emerging countries' bonds... as opposed to the dollar-denominated emerging markets bonds that will comprise the Vanguard Emerging Markets bond fund, announced but not launched.
That was my take; my other thought was maybe he meant "not-ADR"?

Re: Bill Gros's Dec. 2012 Outlook

Posted: Wed Dec 12, 2012 5:00 pm
by lks
ziszew wrote:
nisiprius wrote:I actually believe it is possible that he said "stocks" and meant to say "bonds." As simple as that. <--snip--> In context, I think that means non-dollar denominated emerging countries' bonds... as opposed to the dollar-denominated emerging markets bonds that will comprise the Vanguard Emerging Markets bond fund, announced but not launched.
That was my take; my other thought was maybe he meant "not-ADR"?

Found an article that said it was: MSCI Emerging Market Currency- Hedged Equity Fund (DBEM).