Reverse New York Times Trend Investing Works Again
Mr. Chortler, it must be said, did not achieve his renown through his investing acumen. In fact, the heir to the Chortler publishing empire has presided over the downward slide from a once great media icon to the sorry Internet publication you see today.
Nevertheless, there is one thing Mr. C knows: when The New York Times hints something may be a trend, throw your money in the other direction, at least in the short term.
On Wednesday the Grey Lady carried a story about Edward Hugh, an expatriate economics blogger in Spain who had predicted the demise of the euro long before it was fashionable. While the euro might very well cease to be at some point in the (perhaps near) future and while Mr. Hugh gives very detailed reasons why this might be the case – who could have foreseen a problem with numerous European nations working together? – once the story landed in the paper of record, the smart money went the other way with a vengeance on Thursday – pushing the euro significantly higher against the dollar.
