Dollar Decline ? McKinsey MGI report

In the current scenario, I am always dollar bearish. I strongly belive in fundamental strength of EURO. Even I would be slightly bullish on GBP and CHF against USD. Only one big currency in which I don't have much faith is JPY, even though they come with strong GDP growth rates and raise interest rates, still for some time I would bet on USD against JPY. However, for a long term > 3 years horizon, I would always bet on a short USD strategy. So my personal views are

Till December 2007 end
Pair : Strategy : Target
EURUSD : Long : target 1.3900
GBPUSD : Long : target 2.0150
USDCHF : Short: target 1.2200
USDJPY : Long : target 125.00

3 year targets i.e. December 2009 end
Pair : Strategy : Target

EURUSD : Long : target 1.6000
GBPUSD : Long : target 2.2000
USDCHF : Short: target 1.1500
USDJPY : Short : target 105.00


Coming back to my original point, McKinsey - MGI has released a report which says US dollar would need to depreciate 33% from its level in January 2007 to eliminate the US current account deficit by 2012.
Read the report here and article here

ICICI Bank FPO - Apply

Apply for ICICI Bank FPO - ICBK.BO with 3 years horizon.

I was also one of the many investors who missed the Rs . 500 bus for ICICI Bank FPO.
With reasons like separation of insurance business, being flagship private sector bank of India, huge growth in SME business, massive expansion in international business, FII favorite and sound management, I am applying for this current FPO. Arguments against can be secondary equity market can offer you at cheaper price etc. but frankly I am not able to "catch" such a low entry points. Plus I am recommending apply to people who will have 3 years horizon, hence no point in catching tiny downside of Rs. 30-40.
Read BL view here

FMPs - loosing charm ?

Now FMPs which were "hot cakes" in last 3 months seems to be loosing charm. Read BL article
here

India Equity Buys - Recommendation

1 small-cap stocks look good at current levels
1) Adhunik Metaliks ADME.BO Friday 15 June 2007 close INR 50.60
Buy with < 1 year target price of INR 75.00 (50% upside)

One bit old report by ICICIDirect http://www.icicidirect.com/mailimages/Adhunik_Metaliks__Q4FY07.pdf