Roger Nusbaum submits: I have been writing about Australia and New Zealand as investment destinations for quite awhile. I had client and personal exposure to both countries for a long time, but disclosed selling out of Telecom New Zealand (NZT) on February 23. I expressed concern in that post that the kiwi would keep falling, and so I stepped to the sideline temporarily.
The Aussie dollar has also weakened, to a lesser extent, along with the kiwi. As a matter of philosophy, I don't want zero exposure so I kept Australian exposure as is:
In that last post I said I am sure that I will reenter NZT at some point in the future and that is still the plan. The stock is down about $1.50 from where I sold and I think could drop another $1.00 if the currency goes to $0.60 or lower.
Waiting this out takes patience. Having the patience to wait for a stock can be very difficult.