Brian Kelly Shares His View On Germany, France, Euro And Precious Metals
Brian Kelly talked on CNBC's Fast Money about new positions that he opened on Friday.
He said that after he heard the European Central Bank's Mario Draghi speak about massive changes that have to be done in Europe, he realized that there won't be enough political support in Germany and France for these changes. He decided to take a short position in iShares MSCI Germany Index Fund ETF (NYSE: EWG) and iShares MSCI France Index ETF (NYSE: EWQ).
He also thinks that Europe won't be able to do a massive QE, and it would be wise to buy euro right now. One way to do that is by purchasing Guggenheim CurrencyShares Euro Trust (NYSE: FXE).
Kelly also bought silver on Friday as a leveraged play on gold. He believes that gold is a good hedge against inflation and geopolitical risks for a long stocks portfolio.
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