“Contas equilibradas não significa superávite”

[Ulisses Pereira]

"Weak Dollar Finds No Patience Abroad"

By James J. Cramer
12/16/2003 11:23 AM EST


"We don't like to put ourselves in the Europeans' shoes. But I have to tell you that if you are a European investor, let's say some hapless German type, you are up 3% in euros if you indexed the S&P 500. That's horrible. That's vs. 33% if you were long the DAX.

That's devastating. That's the type of underperformance that can get Germans to sell a market for another. It is right in their faces.


We don't think about stuff like this enough when we consider the dollar's decline. We don't realize what that means to the average asset allocator in Europe, who doesn't buy weakness; he sells it.

I know most of us think the weak dollar is a red flag, but if you are in Germany, it's the darned Jolly Roger!

Something to think about when you see those giant outflows every morning. "

(in www.realmoney.com)