Supermodel Bundchen Joins Hedge Funds Dumping Dollars

Nov. 5 (Bloomberg) -- Gisele Bundchen wants to remain the world's richest model and is insisting that she be paid in almost any currency but the U.S. dollar.

Like billionaire investors Warren Buffett and Bill Gross, the Brazilian supermodel, who Forbes magazine says earns more than anyone in her industry, is at the top of a growing list of rich people who have concluded that the currency can only depreciate because Americans led by President George W. Bush are living beyond their means.

Even after the dollar lost 34 percent since 2001, the biggest investors and most accurate forecasters say it will weaken further as home sales fall and the Federal Reserve cuts interest rates. The dollar plummeted to its lowest ever last week against the euro, Canadian dollar, Chinese yuan and the cheapest in 26 years against the British pound.

November 4 - 9, 2007 Update

Open Trades = 6
Floating gain/(loss) = (32.6137%)
Value of share = 1.2745 unit value


Not a good week inforex as USD meltdown continues to haunt the market. The increase in EUR and CHF is not enought to cover the drawdown in the USD.

USD: Another Record Low

The beleaguered dollar continues to plumb new lows across the board, hitting 2.0904 against the sterling and 1.4570 versus the euro. Sentiment for the greenback remains heavily bearish despite recent US economic not pointing towards the worst-case scenario of an imminent recession.

The latest string of upbeat reports included Q3 GDP, a robust labor market as evident in the October non-farm payrolls and yesterday's stronger than expected non-manufacturing ISM - which suggests another 25-basis point Fed rate cut may not be forthcoming. Deterioration in the housing market and credit concerns continue to be the Achilles heel for the US currency as investor nervousness over banks' balance sheets remain heightened. Uncertainty about the extent of further write-offs stemming from the subprime debacle will likely plague the greenback over the quarter.


Taken from http://www.truenorth-forex.blogspot.com/

October 29 - November 2, 2007

Open Trades = 6
Floating gain/(loss) = (8.2571%)
Value of share = 1.2745 unit value

October 22-27, 2007

Open Trades = 4
Floating gain/(loss) = (12.6286%)
Value of share = 1.2645 unit value

October 15-20

Open Trades = 6
Floating gain/(loss) = (15.9490%)
Value of share = 1.2407 unit value

October 8-12, 2007

Open Trades = 4
Floating gain/(loss) = (12.71430%)
Value of share = 1.2427 unit value

October 5, 2007 update

October 1-5 2007

Open Trades = 4
Floating gain/(loss) = (11.5590%)
Value of share = 1.2277 unit value

Off-Topic: DESPERATE HOUSEWIVES' Unconscionable Remark

DESPERATE HOUSEWIVES' Unconscionable Remark; Lodge Protest, Sign Petition


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To view the episode, log in to www.abc.com, click on Desperate Housewives, look for the Sept 30 episode.

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Dear Ambassador Gaa:

Further to my email to you, aside from my recommendation to lodge a formal protest, kindly encourage officials and employees from the different Philippine consulates general, and the Filipino American community, to sign the petition on line, through this link:

http://www.PetitionOnline.com/FilABC/

We need as many signatures as we can gather to show ABC that we have the number, and that "In Unity, There Is Strength," (borrowing from MANILA-U.S. TIMES' slogan).

Here's what I emailed you earlier:

"Dear Ambassador Gaa:

"The Philippines and the Filipino people have been insulted by some racist remarks in the "Desperate Housewives' TV show" when Susan Mayer Delfino, played by actress Teri Hatcher, stated in its September 30, 2007 broadcast: "Okay, before we go any further, can I check those diplomas? Coz I would just like to make sure they are not from some med school in the Philippines."

"The insult was directly hurled at some med schools in the Philippines, but ultimately, it impacted on every Filipino all over the world.

"I am bringing this to your kind attention so we can officially lodge a formal protest against the Management of the Desperate Housewives TV program for them to apologize publicly to the Filipino people and to the Philippines, and to refrain from making such insulting remarks henceforth.

"Thank you."

New Update

After a long, long hiatus from blogging my forex activities, I am back again!

Although I stopped posting, I did not stop playing forex. Well, not technically. I have formed a group with some friends, and employ the straight hedging and inverse hedging techniques, and assigned someone from the group to be on top on the daily trading activity. Then, we discuss the results of the trade on a regular basis.

Sometime mid-May, we restarted and reset the portfolio. Pooled our money together and begin our new journey to riches... hahaha! So far, to date, our gain is about 21%, but has a floating loss of about 14%, giving us a running net gain of about 7%. Not spectacular, but definitely better than bank rates!

Also, I have dropped the FreedomRocks subscription, and employ our own version of hedging. So far, the results are encouraging.