An Alternative to ForEx Trading?
My impression of ForEx trading is that if one doesn't know what one is doing one can be taken out to lunch and eaten as the main course.
I'm not a macro economist, but I'm still concerned about what a weaker USD means to an ordinary investor. I would like some of the diversification benefits of trading in foreign currencies without the need for enormous funds, the high pressure, the time commitment, and the steep learning curve which seems to characterize successful ForEx.
I already invest commodities and metals in an effort to provide for inflation since money does grow in trees and the FED keeps making more :). I also invest in American companies which have a large percentage of their customer base overseas like HNZ and KMB, or in Canada like SE. Some of my foreign companies have their earnings in euros, some in shekels, some in Hong Kong dollars, some in rupees, and some in Japanese yen.
Is investing in ADR's a practical alternative to ForEx trading or am I kidding myself?