u/Kerguelen_Avon

Hello EU investors

What I see on this and similar subs is that global and US-tracking ETFs are most popular, and endless portfolios are built on them ("XXXX and chill" etc). At the same time Eurozone is IIRC less that 10% of any global index. So the overwhelming majority of EU investor assets are a subject to currency risk of the asset currency vs EUR (or the closely related currencies - zlota, kruna etc)

What I find amusing is that ppl will argue over fraction of a percent TERs, fees and even and Trump policies - but currency risk is not discussed at all. Asking any AI will tell you that sigma of the variation (for the last 20 years) between USD and EUR runs 7.5-10%, so up to 30% gain/loss due to currency exchange rate is a statistical possibility. Considering USD is - still - the global reserve currency, this variation could be much more substantial for the EU investor than almost any other risk.

There are currency hedged ETFs of course - but looks like their volumes are far, far less than unhedged ones, due to the lower returns.

So why is that - fear, greed, or stup ... ignorance?

Thanks.

От това което чета тук за "дългосрочни инвестции" масово се препоръчват ЕТФи (?) които следват глобални индекси (?) деноминирани в долари (???). Това е БГ съб: повечето печелят и харчат в евро, и плащат данъци в БГ.

Без да влизам в детйли колко скрити рискове и разходи има за частен инвеститор в БГ да купува такъв продукт имам само този въпрос - към 1/3 от глобалния индекс е екс-САЩ, и за да влезе в индекса (повечето от) тези акции се превалутират към долар, който пак се превалутира към евро когато продадете.

Защо не купите просто 66% щатски индекс ЕТФ + 33% екс-САЩ (в евро) ако искате глобална експозиция? Де факто е същото, и таксите на екс-САЩ частта би трабвало да са по-ниски. Разбира се има много детайли, но принципно надявам се е ясно ...

Или е просто мързел ...

I found out 90% of all the horology theoretical courses are based on this book, and it's a great book indeed (regardless of its age) - but I have only the French original, which is a pain for me to translate.

Was it ever translated in English and if so - can I find it?

Thank you and merci!

Not really a hot take but have to say it: having a non-directly driven SMALL seconds hand is massive red flag for me. Regardless weather you're Longines or you're Lange. So many compromises were made to have the seconds hand in the center. Now you take a generic caliber like 2824 and put an extra wheel to offset the seconds hand and make it look vintage - that's cheating to me. Either use a proper, old style caliber with small seconds on 4th wheel - or leave the dial with no seconds hand at all. Rant over.

My favorite adventure beater is Seiko Prospex Kinetic GMT (SUN019) which is 10+ years old. The watch was targeted as breakthrough to the US market with its massive (for its time) size and top qualify dial - which is still has brightest lume I've ever seen. 12 years later it's not only bright - it can still keep a glow all they way to the morning. Apparently Seiko splurged but time for the best quality material ...

And I appreciate that very much. For an adventure/outdoor watch it's a big deal - after sunset, in a tent, at night, of course under water.

So yeah, I do care