Just One ETF: Bond Markets Doing Their Job Means Buying Opportunity in Euro

Axel Merk submits:

Seeking Alpha's Jason Aycock asks money managers about their single highest-conviction position - what they would own (or short) if they could choose just one security.

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Axel Merk is founder, president and chief investment officer of Merk Investments - a California-based RIA - and author of the book Sustainable Wealth. Through Merk Funds, Merk Investments administers an absolute return currency fund (MABFX), an Asian currency fund (MEAFX) and a hard currency fund (MERKX), as well as institutional shares.

What investment area is the subject of your highest conviction right now?

We focus on the currency markets, and we do that because we can implement the mania of the policymakers in a straightforward fashion, without taking on the corporate risk in particular as you do in the equity markets.

And which currency in particular has your attention?

We tend to focus more on the long-term strategic view. And in that, we

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