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Thanks John for posting ... really helpful ... and, it seems I am currently well positioned for their 2015 call.
I've got Greater Europe (covered), domestic large caps (covered), emerging markets (covered) and my bond durations on average within my fixed income sleeve are at a reading of 3.3 years which is a little back of the sleeve's average yield which is 3.5% (covered). However, I may have to work on the allocation for Japan.
Thanks John! It seems to go well with the overview we get from JP Morgan's Guide to the Markets each quarter. Unfortunately, I don't have Europe covered as I minimized my exposure a bit less than a year ago and the majority of my domestic exposure is small/mid cap. I'm also heavily into emerging and frontier markets, although I reduced a bit of that a few weeks ago because I wasn't happy with the etf and wanted some cash. I guess I'll see what JP Morgan has to say next week and decide how much of an adjustment I want to make.
As for Europe, my thought is that without some serious adjustments from country governments the economy isn't likely to benefit nearly as much from QE as the currency is likely to weaken. Russell says they believe exchange rates have priced in most of what's to come but I tend to believe there's much further to go for both the Euro and the Yen. Are you hedging your currency exposure in Europe and/or Japan? I was thinking about something like PIPAX for overall exposure that's hedged but I know virtually nothing about the fund other than what I read this morning.
@LLJB, Like you, I am underweight in Europe. I'll have to look at that part of the portfolio. As far as Japan, one of my funds has increased their Japan assets a bit so I will let it go that route.
Comments
I've got Greater Europe (covered), domestic large caps (covered), emerging markets (covered) and my bond durations on average within my fixed income sleeve are at a reading of 3.3 years which is a little back of the sleeve's average yield which is 3.5% (covered). However, I may have to work on the allocation for Japan.
Old_Skeet
As for Europe, my thought is that without some serious adjustments from country governments the economy isn't likely to benefit nearly as much from QE as the currency is likely to weaken. Russell says they believe exchange rates have priced in most of what's to come but I tend to believe there's much further to go for both the Euro and the Yen. Are you hedging your currency exposure in Europe and/or Japan? I was thinking about something like PIPAX for overall exposure that's hedged but I know virtually nothing about the fund other than what I read this morning.