Dollar Down, Socks, Gold Bonds Up
By Barry Ritholtz - November 11th, 2009, 11:40AM
The synchronized rally seems to be all about the American Peso as it slides to a 15-month low.
Bloomberg observes that shares of U.S. companies who get a majority of their sales overseas are out performing their domestic focused brethren.
The chart below shows shares of S&P500 companies generating more than half of their revenue abroad have beaten those doing business only in the U.S. — and by 27%!
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Chart source Bespoke Investment Group, Bloomberg
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Source:
Dollar Drop Gives U.S. Exporters Biggest Gains: Chart of Day
Lynn Thomasson
Bloomberg, Nov. 10 2009
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aNm_VXnGsMtY
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November 11th, 2009 at 11:42 am
Are “Socks” a new thing that we can invest (or trade) in and blow a bubble in it? Maybe Ben can create “Socks” mania of some sort? They’re quite useful here in Minny in the winter. ;-)
November 11th, 2009 at 11:49 am
Maybe because so many are hitting the pavement looking for work?
November 11th, 2009 at 11:49 am
Damn, my socks are down, or under the bed, or somewhere…
November 11th, 2009 at 11:51 am
And Gold Bond medicated powder, of course.
November 11th, 2009 at 11:51 am
Get into socks now or be priced out forever. I haven’t bought any news socks in years either. Will have to ask for them for Christmas, I guess.
November 11th, 2009 at 12:01 pm
Socks are in high demand, so are googly eyes and strips of yarn. How do you think news networks make new anchors?
It’s good that manufacturing is getting a boost in this country but disappointed it’s for the wrong reason.
One thing I’m really glad still gets made here – contacts and cleaning solution. I don’t want to play melamine roulette with my eyes.
November 11th, 2009 at 12:01 pm
I like to put Gold-toe brand socks on my fiat.
November 11th, 2009 at 12:02 pm
Michael Cooper…
November 11th, 2009 at 12:06 pm
Feet currency… Good one MA. :-)
November 11th, 2009 at 12:16 pm
But Tim just said he wants a STRONG dollar. Words you can believe in.
November 11th, 2009 at 12:17 pm
I’m short socks and long sandals.
November 11th, 2009 at 12:19 pm
@wally: We now live in “Opposite-land”. When Timmay or Ben say something, the mean exactly the opposite. Get with the program.
November 11th, 2009 at 12:50 pm
I think Ben and Tiny Tim watch too many Disney movies… If we just pretend that the dollar is strong, then it will come true! When you wish upon a star! Perhaps the next time they testify on Capitol Hill, their noses will grow longer than Pinnochio?
HCF
November 11th, 2009 at 1:10 pm
And now that the trend is so obvious and well established, and the trade is a no brainer that anybody can prosper from, it will continue ad infinitum, right? Hop on, we’re printing money here!
November 11th, 2009 at 1:12 pm
so how do i get in on this socks action
November 11th, 2009 at 1:15 pm
@ahab: Just buy any socks, the crappier the better. They’re all going to the moon.
November 11th, 2009 at 1:18 pm
Let’s just grab our pom-poms and all start chanting:
D-G-D-F! D-G-D-F! D-G-D-F!
Dollar goes down forever and the rally monkey lives!
HCF
November 11th, 2009 at 1:20 pm
i am definitely getting into $ when it hits zero
November 11th, 2009 at 1:26 pm
When does the 100 trillion dollar bill come out?
November 11th, 2009 at 1:32 pm
Many people keep their money in socks, but it’s a real common place for thieves to look, too.
Just don’t keep your money in Goldman Socks.
November 11th, 2009 at 1:35 pm
@ahab:
I think 0 is a great support level on the charts…
=)
HCF
November 11th, 2009 at 1:42 pm
I might grab me some of that greenback at about a penny. That’s when the price will be just right.
November 11th, 2009 at 2:00 pm
so how do i get in on this socks action
Most of them are on the FTSE index. Do your own research, damnit!
November 11th, 2009 at 2:06 pm
TZ-
man- why didn’t i think of that :-)
November 11th, 2009 at 2:07 pm
@Transor: LOL. Great one!
November 11th, 2009 at 2:09 pm
Better yet, you might want to try a 2X Socks ETF, symbol SOCK2.
November 11th, 2009 at 3:23 pm
so is this the SOCKITME investment? and have the TBTF been SOCKING it to us?
November 11th, 2009 at 6:15 pm
Benni, Pull your Socks up!
(obligatory reference)
November 11th, 2009 at 6:22 pm
See Simon’s Simple Sock for the next great thing in socks.
http://simonssimplesolutions.blogspot.com/2009/05/my-very-first-simple-solution-i-call-it.html
November 11th, 2009 at 8:26 pm
Thank you BHP, BP, PCU, and UL. . . and: http://www.ritholtz.com/blog/2009/04/top-10-things-the-letters-gm-stands-for/#comment-159166
“I tell you that virtue is not given by money, but that from virtue comes money and every other good of man, public as well as private.”
-Sockrates (Plato’s Apology)
November 11th, 2009 at 11:40 pm
I don’t know about all of this, BR didn’t even correct it, I’m getting cold feet.