Roger Nusbaum submits: I have been writing for months in my belief in Sweden as an investment destination. Most of clients own one Swedish stock and the Swedish krona ETF (NYSEARCA:FXS), I have disclosed this before.
I bought FXS in early July in the 138s. My general expectation for FXS was that it would not do much most of the time but that every once in a while it would help reduce volatility in the portfolio. That has been the case for the last few days and the chart posted here shows a narrow range for most of the time followed by a small but noticeable breakout.
For all I know FXS will go back into that channel, but during the down-draft so far the fund has acted as hoped for -- it has reduced volatility of the portfolio. There have been some negative comments left by readers along the way on these, but I think there is value in allocating a small portion to these types of products; be it ETFs, OEFs, actual currency or anything else that offers the effect.
I have been consistent on these will continue to be so but I would not be surprised to see better mousetraps come along.