Quotes by Richard Ferri

“The first step is to figure out which asset class you want to invest in, and then figure out the best way get exposure.”

“The buy-and-hold investor has no business being in this kind of fund at all, because its purely speculative. Its not for any of our clients, thats for sure. We get currency diversification, but we get it for free because we own international equities in our portfolios through index funds. These funds are for traders, theyre for speculators. If thats what you want to do - speculate on the value of the dollar - and you think you can beat the system, good luck!”

“For no extra cost, in an equity fund, especially a low-cost index fund, you get currency exposure and diversification. You can get your currency diversification through your equity positions. Thats the way a long-term investor would do it. Do not try to be smart about this.”