Cheneys betting on bad news?

http://articles.moneycentral.msn.com/Investing/Extra/CheneysBettingonBadNews.aspx

Vice President Dick Cheney's financial advisers are apparently betting on a rise in inflation and interest rates and on a decline in the value of the dollar against foreign currencies. That's the conclusion we draw after scouring the financial disclosure form released by Cheney recently.

As of the end of last year, Cheney and his wife, Lynne, held between $10 million and $25 million in Vanguard Short-Term Tax-Exempt fund (VWSTX, news, msgs) (it's impossible to be more precise because the disclosure form lists holdings within ranges). The fund's holdings of tax-free municipal bonds mature, on average, in a little more than a year -- meaning that the fund should hold up well if rates rise.

The Cheneys also had between $10 million and $25 million in American Century International Bond (BEGBX, news, msgs). The fund buys mainly high-quality foreign bonds (predominantly in Europe) and rarely hedges against possible increases in the value of the dollar. Indeed, its prospectus limits dollar exposure to 25% of assets and the fund currently has only 6% of assets in dollars, according to an American Century spokesman.

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I don't know about you, but if there's one thing I can trust Dick Cheney on, it's money. :scared:

That's because they are all in entities that destroy things, and entities that clean and fix things up after they are destroyed. It's quite a lucrative way to operate.

all in his path.

i'd say vampire.

Who would know future trends better than the one who sets them?

He's a super smart guy that came from nothing. He has yet to be wrong.


We all know the country is going down. The Rich are making a profit off of it.

Elmer Cheney is not the only one who expects a decrease in the dollar's value and an increase in inflation & interest rates.

About a year ago I invested in foreign stock mutual funds because I wanted to get away from equities that are based on US currency. I agree with Warren Buffett about the decline of the dollar. I have stayed away from long term bond commitments, in anticipation of higher interest rates that will accompany inflation. I have not so far regretted these decisions.

Which currencies have you chosen? (I'm in Europe).

Warren Buffet has been trading in currency futures but he's moving away from that. He is still bearish on the US dollar, due to our trade deficits and other concerns. I am no Warren Buffet, I'm just a simple small time investor. I bought into some mutual funds that invest in non-US stocks, thinking primarily this would be moving away from dollar-based investments.

I do have some US stock mutual funds, but they have not done nearly as well in the past year as the non-US funds.

and things with "American Century" in its name?

-Hoot

their riches is very short. They may amass a vast fortune off the suffering and misery of others but the money is tainted and the bad karma they have built up should come down on then soon.