Michael Fitzsimmons

Axel Merk Makes a Case for Currency

i have two problems with axel's funds. first, i invested early in his MERKX and thought it was a great idea. i even promoted it on this site. although i knew beforehand that the fund's expenses were more than i thought they should be, i did not know that he was not investing in asian currencies. i kept sending emails to him and i was like, axel, you mean to tell me you're not going to invest in asian currencies in the MERKX fund? what could be stronger against the US dollar than the asian currencies?? he had a bunch of excuses, tand 10 reasons why he couldn't do so. the fund kept underperforming what a US dollar hedge should have been doing, then axel comes out with the asian currency fund (!??) . jeez. he just seems to be looking for ways to make money for himself rather than do what he should have been doing with MERKX from the get-go: investing in gold and non-US currencies (including asia). i sold my MERKX on principal and just bought more gold.