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David Fry writes a subscription newsletter focused on technical analysis of exchange-traded funds, called ETF Digest (www.etfdigest.com). Dave founded the ETF Digest in 2001 and was among the very first to see the need for a publication that provided individual investors with information and... More
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  • THE TRUE STORY BEHIND ECH 1 comment
    Mar 2, 2012 2:12 PM | about stocks: ECH, JJC

    Investors looking for exposure in the developing economies of Latin America would be remiss to not take advantage of the growth opportunities in Chile. At the moment there is only one ETF that provides exposure to this important market, the iShares MSCI Chile Index Fund (ECH).

    Of course, when investors think about Chile, there's often just one thing that comes to mind: copper, and for a good reason. Chile is the world's largest supplier of copper, exporting anywhere from 30 to 40% of the copper in the world, and is also home to the largest reserves of copper on earth-some 33%. To put that enormous quantity in perspective, the United States and Indonesia are tied for second in copper reserves, with just 7% apiece.

    Indeed, Chile's massive copper reserves have played a pivotal role in the country's history for the last several decades. In 1971 the Chilean congress under socialist president Salvador Allende voted unanimously to nationalize the many copper mines throughout the country. These newly-appropriated state-owned enterprises would eventually become Codelco. After the military coup in 1973, when General Augusto Pinochet began selling off state-owned companies, the one company he absolutely refused to privatize was Codelco.

    <READ MORE>

    Themes: Chile, South America, Copper Stocks: ECH, JJC
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    The Chinese are now buying copper and storing it like gold as a reserve. It has long term industrila uses of course and thus is more desirable than gold but it is cheap and can replace the US dollar credits it holds and will not collapse in the upcoming inflation but more likely track the currency collapse.
    6 Mar 2012, 06:35 PM Reply Like
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