To the Editor:
Investing based on currency fluctuations is a fool’s errand (“The Powerful Greenback,” Cover Story, Oct. 7). Moreover, comparing forward earnings of U.S. stocks, which are heavily weighted toward technology, with European stocks, which are heavily weighted toward financials and industrials, is an apples-to-oranges comparison.
Regardless of the macroeconomic environment, the prudent investor will always invest in companies in strong financial health that have durable competitive advantages at a compelling valuation.