My professor of International Economics, Fabio Sdogati, is quite a character: he has a very effective teaching style and I really like to go to his lessons. Last night’s lesson was about exchange rates policies. He was showing a graph to demonstrate how exchange rates follow clear political decisions. His theory is that, at least in the mid-long term, the monetary markets are governed by politics, not by market rules. Answering a question about when to (dis)invest in currency that is about to [de|ap]preciate against another, he gave a small piece of advice:
don’t even try to buy/sell at the peaks. The rule is: buy, sell, regret!
In his roman accent it sounded great. I love him 🙂