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.

3 comments:

Tsachy Mishal said...

OL Dawg,

Do you see an entry point for JTX?

Anonymous said...

I nailed it yet again. I'd say I'm running 80% success rate!



Anonymous said...
The first week of a new month, the market has been higher. This has proven true for the last 6 months. I would expect it to continue. Any further dips this week should be bought.

February 24, 2010 12:38 AM

Anonymous said...

Dunno, will have to see what it does on this down move.

Earnings come out on 3/11.

HRB had bad earnings and bad forecast when they announced. OR was it just a bad forecast.

Anyways I don't want to be long going into 3/11 that is all I know.