A Yen for Yen

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In what, for the moment, must be a terribly-embarrassing example of bad timing, John Mauldin yesterday made a huge hoo-ha about being so bearish on the yen that he converted his mortgage into it. In other words, his view was that the yen would plunge in value and, thus, make it cheaper to pay off later in US dollars.

Well, judging from the dollar’s plunge versus the yen, I’d say Mr. Maudlin has a more meaningful apartment payment at this point. One day does not a trend make, but still…………