A diary of the thought process behind my investment decisions
Pound Getting Pounded
While Vodafone is breaking out to a new 52 week high in London, I am not seeing any of the benefit as the British Pound has been getting beaten mercilessly. Vodafone's geographic revenue streams are not that different from a large US multinational's. They have the Verizon wireless stake, which is in US Dollars, and assets all over Europe and emerging markets. In the long run weakness in the pound should not matter all that much. However, in the short run it is clearly a headwind.