Pimpy

  In Pimpy's Investment Chat

These billionaires meet in Davos. They meet there once a year.  A lot of you guys know about these meetings and Davos…one of these guys is a very influential financial advisor was giving a speech and someone wrote an article about the speech…what the man went on to say was this. He actually made fun of so-called “currency gurus”.  He bashed them 7 ways to Sunday. But as soon as he was done bashing them he kindly said afterwards having said all the negative things he said the gurus actually got two of them correctly. He said the Iraqi dinar and the Vietnam dong in his opinion were great investments and thought that some of his people should invest in them as well. He only touched on the two currencies for a fraction of a minute then he went on to…remind everybody that when the Kuwait dinar changed it created a lot of millionaires…there was a bump in the economy and a slight one because it wasn’t as well know as the Iraqi dinar one but it created a lot of millionaires.  He said but within 5 months 86% of these millionaires were flat broke. Flat broke…from time to time I read that article again just so I can hear his words so that it reminds me of what NOT to do once the RI or RV hits for our currencies.