Originally Posted by
Beagle
I wouldn't hold $US this time as the US has massive external debt now. Honestly its a pretty fluid situation and one needs to adapt their investment strategy as this unfolds.
For what its worth I am now 55% in $NZ cash, and most of the rest of my investments are in defensive stocks like GNE, MEL, ARG, OCA (yes this is defensive as its needs based late stage healthcare), ZEL (consumer staple) and some modest stakes in SML HGH, AIR.
I don't think the market has really cottoned on to the fact that OCA is pretty defensive.