ETF to Dump No. 6: CurrencyShares Euro (FXE)
Some of my friends across the pond may not like hearing this, but I am afraid the euro is doomed. It was never a good idea in the first place: Monetary union without political union is just unworkable. Europe is learning this the hard way as Greece, Ireland and other weak links force the healthier economies to pay for bailouts.
Eventually, the Europeans will get this all sorted out. My guess is it will end with either a politically unified continent or a return to individual national currencies.
In either case, there is no reason to go out of your way to get exposure to the euro with an ETF like the CurrencyShares Euro (FXE).Last Day to Sell Your Losers (for 2010 Taxes)
You'll notice that the ETFs I've named are not obscure. All are very popular, in fact. That doesn't make them good products or good investments. If you own any of these in a taxable account and you're sitting on an unrealized loss, you have to the end of today's trading session to sell and get that loss on your 2010 tax return. Happy New Year! At the time of publication Rowland had no positions in any of the securities, companies or ETF sponsors mentioned, and receives no income, revenue, or other compensation (either directly or indirectly) from, or on behalf of, any of the companies or ETF sponsors mentioned. This investment news is brought to you by Money and Markets. Money and Markets is a free daily investment newsletter from Martin D. Weiss and Weiss Research analysts offering the latest investing news and financial insights for the stock market, including tips and advice on investing in gold, energy and oil. Dr. Weiss is a leader in the fields of investing, interest rates, financial safety and economic forecasting. To view archives or subscribe, visit moneyandmarkets.com.Select the service that is right for you!
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