RightSide Commentary -Internationals

     dateline: Paris

      Because I am still writing from an internet cafe in Paris (it turned out that the problem of my cable link exceeded whatever Microsoft was responsible for), I am not taking on the matter of dealing with Frida Ghitis's guru article which, for the record, is about Mohammed El-Arian, the former chief investment manager of the Harvard Endowment. I will do so when I can write my own views on a normal QWERTY keyboard and reflect on the debate.

    My old Alma Mater has an endowment fortune dating back to the 17th century, which gives one a longer view that most retail investors can aspire to. Harvard moreover benefits whenever a Rockefeller (David this time) decides he wants to add to the kitty because he cannot figure out what else to do with his money. Would that we all were in the same boat!

In the present macroeconomic environment, I think global investing has to be done with great care and perspicacity because the trend is supportive of U.S. exports and lower U.S. imports, resulting in a more properous U.S. economy, and a poorer showing in Europe and Japan. The impact of the exchange rate adjustments will hurt foreigners more than it will hurt our companies; and the banking crisis is still radiating out across the globe. So just dropping all your money on foreign blue chips will be a way to lose it.

    Global Investing si; mindless Global Investing non.