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How to Make Money on the Weak Euro

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  • Description

    Accent Asset Management CEO Scott Martin gives his outlook for the markets.

  • Duration 3:01
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This transcript is automatically generated

You very much well the Euro.

-- actually rebounding come with the lights around -- right now from yesterday's 22 month low against the US dollar.

But our next guest thinks the Euro is gonna fall even lower he's gonna -- yeah Martin's CEO of -- that asset management how that money had a falling Europe.

Share I was pretty easy actually that's the great thing about ETFs that are out there are now as the section ETF symbol EU -- that shorts the -- of all -- so.

It's kind of like the inside guests David Hasselhoff trade here you don't go international yet come back to the US and a lot of success and you bet on that dollars -- said we're at what does it go that I was asking that is that what -- thanks -- hours ago.

Well dig -- -- car and listen data may be a golfer NG also may be right because.

Here's the problem -- really sure what what the eurozone and it's very simple.

They're slowing down and they're slowing down a lot faster than other areas of the world and so when you have a slowing economy -- -- exports to help boost that growth.

Well how do you get exports you have to devalue your currency so aside from all the problems that are in the sovereign governments in Europe aside from all of -- Blasting that's going on in the banks on their balance sheets in -- up.

You need to lower your currency to get -- -- our products more attractive to other countries they do that by lowering the price of your currency.

All right I gotta I gotta get a creditor you've been calling but this euros did call purpose for months and months and months saying it was gonna fall also listening to it now -- month low today.

But what about the US markets are there certain sectors and US markets that you big that we should invested in play defense right now.

Yeah.

I defense is definitely having the name of the game and again the US being the best market I think to invest in world wide so.

-- does -- the stuff that's worked in past down markets -- at least in past markets where it's been kind of stagnant so.

Specifically you look at utilities and you look at the consumer Staples sectors because -- no matter what happens in the economy.

People have to buy that stuff -- you have to keep your water running you gotta keep your lights on you gotta write your AC now that summer's here which is probably gonna be -- -- oneself.

XLU was a great way to play a basket of utilities stocks by the way it has a nice dividend.

XLP as a way to play your consumer state -- Staples or Procter & Gamble's you're Johnson johnsons and also has little bit of a dividend on its know.

All right utilities consumer Staples what about the financials -- -- know that you had.

-- -- got back and forth on certain groups within the financial sector hype filled today.

I terrible about them I think this.

If you know I think -- just in bad shape and JPMorgan I was standing -- you know just look at the housing market and tell me how the financials are gonna recover from a really lousy housing market for the rest the year.

I wouldn't touch the financials even with Dennis -- money and -- -- a lot of money out on now -- -- -- -- that we got in Illinois and talk of financials let it.

-- -- that right yeah exactly what they think benefits were pulling all the non -- All of it went about weak dollar and now suddenly the dollars the strongest guy on the beach I love that change effective it was a good stuff you're just like yeah oh yeah.

Well -- you -- okay Scott.

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