In the News: WSJ

The WSJ profiles portfolio manager Axel Merk for his brave euro call in 2013

"...Axel Merk, who runs the $415 million Merk Investments LLC in Palo Alto, Calif., maintained a bullish position throughout the year, according to fund documents, even when the common currency sunk close to $1.27 in April and May[...] Mr. Merk's 2013 prediction proved accurate. Europe's common currency rose more than 4% against the dollar for the year, the biggest gainer among major currencies for the first time since its inception 14 years ago. Mr. Merk's Absolute Return Currency Fund was up 5.8% for the year.

Mr. Merk says the euro is poised to appreciate further as European banks dump risky overseas assets and convert that money into euros at home. 'In the U.S., we have bank failures all the time, but that doesn't mean the dollar's going down the drain,' he says..."

 

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