Has been in and out of this one. Has a fair bit of the far east, including Japan. Also, has Australia and the region there that can be quite commodity sensitive. On the other hand, it has an awful lot of Europe, which he likes. He does like Japan. His only concern is in terms of the commodity related ones. Good product.
The price of this never moves. It’s $10.10 or $10.20. Because it is SWAP based, he didn’t pile into it too much because a lot of people are a little reluctant dealing with SWAPS. He has been using this for a couple of years now and it just doesn’t budge. Right now, with some question about interest-rate volatility, he is quite happy to be in it. Dull as dishwater but he likes dull for the next few months if there is some volatility, and then he can come out and be his usual predatory self.
Gold ETF? Has been quite bearish on gold. Can’t see any reason why gold can’t come back down to $700. US$ is doing very well so he can’t see gold recovering anytime soon. If you did want to buy one, he would suggest the SPDR Gold ETF (GLD-N).