Markets around the world have generally retreated in response to continuing worries about the eurozone crisis. At the moment, they seem to be settling down, with some areas more stable than others.
It could be argued that the IMF has caused as much damage to the world's economy as it has to chambermaids. The overdue resignation of Dominique Strauss-Kahn has left the IMF leadership open - but to what? And how should investors react?
I have just received word on the highest authority that the much-troubled euro is about to be replaced by a much more advanced and superior currency.
The Japanese yen has long been one of the stars of the Fractal Investor show, though only recently has it started to shine brightly. Against the pound it has almost doubled (partly because that item has been sickly against virtually everything). It has also done well against more sensible currencies (e.g the US dollar... sensible? Well, I do have a vivid imagination).
The so-called PIGS economies (Portugal, Ireland, Greece and Spain) are still receiving a (deservedly) bad press. We don’t believe a fractal investor should be overly concerned about the immediate issues pertaining to the three smaller countries, mainly because no thinking person would have anything to do with such creatures in the first place. Spain is a different matter – let's just keep our fingers crossed.