
So we are here in Vegas and man is it different than what we are used to. I will say that anyone who comes here should definitely drive down to the Hoover Dam (I’ll pictures on the computer by tomorrow night).
The dollar has taken another step down of late. One position I have had for about ten months has been exposure to the Norwegian krone via what was two year paper when I bought it (I have disclosed this position quite a few times since I put it on).
When I first went in USDNOK was around 5.95, I see it printing now around 4.98 which is a huge move (the smaller the number the stronger the Norwegian). Norway is a strong country economically so that isn’t so strange but Hungary, for example, has a slew of problems yet the greenback is down 8% YTD against the forint.
I …