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Investing in currencies like rubles and pesos is the latest
The latest hot thing from Wall Street is investing in a basket of flaky currencies. It is a variation on the emerging markets debt theme.

You buy two dozens of dubious currencies like pesos and rubles, and then pray.
Quote article: “JPMorgan Chase’s index tracking 22 emerging market currencies has returned 7.9% a year over the past decade, with a tiny annualized volatility of 6.6%.”

It’s mostly open for institutional investors, but retail products are soon to come.

It’s like Russian roulette
Quote: “It’s like being paid to play Russian roulette. Most of the time you collect the outsize return. Every now and then you take a bullet.”