Mike the Strike wrote:
Since I reported the US dollar's drop against the Euro a few months
ago, I am delighted to report a reversal. The US dollar is currently
at 1.23 to the Euro and improving daily. A currency specialist tells
me he expects a rate of 1.15 by year's end.

Where it goes from there is anyone's guess, but the US economy has been
doing a bit better than expected and the Euro zone is not doing too
well. The French refusal to accept the new European constitution is
also likely to destabilize financial markets there. I am betting we
will see a continued improvement from the US perspective.

So, I suggest US pilots resist buying overpriced used gliders and think
again about ordering from the factory for delivery in the next year or
two when rates look like they will be much improved.

I'm reminded of what a US sailplane dealer told me once: "If I knew
anything about the currency market, I'd be buying gliders instead of
selling them". If you think you can guess the future of the currency
markets, quit your day job and become a currency trader. Soon, you will
have so much money, you won't care what you pay for a glider!

I think Tom Seim's advice is better: save your money, invest it
conservatively, and when you have enough to buy the glider you want, buy
it. Timing currency markets is very difficult; meanwhile, the glider
price in Euros marches upwards (no uncertainty there!), and may cancel
any gains from waiting.

--
Change "netto" to "net" to email me directly

Eric Greenwell
Washington State
USA