Last July an attention seeking hedge fund manager predicted that the AUD would be at US1.70 eighteen months from now. Of course anything is possible, but that prediction is now looking even more stupid than it did a year ago. Here is my post about the AUD from one year ago, which I would suggest is holding up pretty well. I still haven’t found Savvas Savouri, I’m guessing he’s gone underground. But I did find this great quote from Reuters about him.
Trusting in hard numbers rather than the forecasts of company managements is key for Toscafund chief economist Savvas Savouri, as he helps one of the UK’s best-known hedge fund firms recover from a tough credit crisis. A self-confessed “data junkie” who claims a number-crunching computer programme he built in the mid-1990s is now the world’s biggest single user of government data, Savouri feeds his colleagues, and his own fund, with his calculations of how much money companies can really make.
I have a pretty good idea what exactly he is feeding his colleagues, and his own fund, but I’ll leave that for you to judge.