Post by Sapphire Capital on Jul 11, 2008 4:36:23 GMT 4
Currency Hedging Programs: A Long-Term Perspective
BRANDES INSTITUTE
Brandes Investment Partners
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April 1, 2007
Brandes Institute Research Paper No. 2007-02
Abstract:
This article addresses currency performance over extended periods of time, and examines the potential implications for investors considering implementation of a currency hedging program. While currency movements have tended to be mean-reverting, there have been extended periods of positive as well as negative impact for investors. By reviewing historical returns, the paper highlights the behavioral considerations that may influence the effectiveness of hedging programs.
papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1147125_code1038980.pdf?abstractid=1147125&mirid=5
BRANDES INSTITUTE
Brandes Investment Partners
--------------------------------------------------------------------------------
April 1, 2007
Brandes Institute Research Paper No. 2007-02
Abstract:
This article addresses currency performance over extended periods of time, and examines the potential implications for investors considering implementation of a currency hedging program. While currency movements have tended to be mean-reverting, there have been extended periods of positive as well as negative impact for investors. By reviewing historical returns, the paper highlights the behavioral considerations that may influence the effectiveness of hedging programs.
papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1147125_code1038980.pdf?abstractid=1147125&mirid=5