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Black Wednesday 9Th Of May


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America leads the global markets up or down but Americans, as you can see for yourself by reading the US financial websites, really don't understand what is going on in the Eurozone.

OK, a generalisation I know but it probably will take the Yanks a few days to work out what is going on - then stand back IMPO.

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It is what Hugh Hendry was saying last week - why buy Euros or stocks in Euros now when you can buy then for a third less a bit later.

I'm not sure exactly what his reasoning was.. but wouldn't that just mean they are over valued now? I would have thought if anything (with all of the euro gloom) that European stocks would be over sold?

I guess I'm just saying I don't see why the value of the stock should be affected by the currency it is priced in (it's not obvious to me).

I could see a Euro break up causing a shock to the system and ALL of the markets dropping on the uncertainty. But then I could also see them rallying again afterwards on the "relief" that it was all over. Hard one to figure out.

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