I’ve had a few interesting discussions with my friends who many of them work in the financial industry. Many of them have commented that there has been tons of money being pulled out from the portfolios and placed into low income but more stable GIC and long term savings. Not to mention alot of them fear for their own job security as well.
We also talked about the reason why the money is not flowing into the money market due to the complexity and risks involved in the forex trading market. The recent spreads have been swinging wildly during the major news events such as Bushes’ proposed and eventual failed $700 billion plan to save the banks. One of my friends also noted that he has gotten a few inquiries about currency hedging.
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