While Retana Capital Group designs and uses strategies for trading currencies (interbank and futures), adding foreign currency to your portfolio can be an effective way to reduce volatility risk from the fluctuating value of the Dollar and hedge against inflation. Some of the world's most successful investors like Marc Faber, publisher of the Gloom Boom & Doom Report, hold foreign currency (in his case, he holds a significant position in Swiss Francs, having stated in 2011 that the Swissie remains a better currency than the U.S. Dollar).
For savvy investors looking to open a foreign currency account, Everbank (recipient of the BauerFinancial 4-star rating) offers high-yield accounts such as the Commodity CD Basket, which is comprised of an even distribution of Australian dollar, Canadian dollar, New Zealand dollar, and South African rand, while their WorldCurrency Access Deposit Account allows you to choose from 20 foreign currencies to hold on deposit.
For those of you with a lower risk tolerance, Everbank has a yield pledge for their CD products (an old favorite low-risk investment vehicle), promising a yield in the top 5% of competitive accounts. They're definitely worth a look.
If you haven't had a chance yet, be sure to like us on Facebook. Wishing you all a profitable July!
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For those of you with a lower risk tolerance, Everbank has a yield pledge for their CD products (an old favorite low-risk investment vehicle), promising a yield in the top 5% of competitive accounts. They're definitely worth a look.
If you haven't had a chance yet, be sure to like us on Facebook. Wishing you all a profitable July!
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