IRL-Another To Watch?

Ireland earned the name "Celtic Tiger" due to its rapid growth in the past 20 years. We went "home" {OK only partly home last year because we are only part Irish) last year for our spring vacation. Ireland was once a poor country but it is no more.

Lately though the tiger has been de-fanged and the Irish economy has suffered along with the rest of Europe. Like here their issues tend to have their roots in the housing markets. But the New Ireland Fund {IRL-a closed ended fund, not an ETF} is also bouncing along its low. It is currently trading about 5% above it's lows made in December. The fund is down almost 90% since its highs in the spring of 2007.

Now this is not a recommendation to buy or sell this fund. I do not own it personally or for clients. Also since I do not know the mechanics of how the fund works this may not even be the best way to invest in Ireland. What I am saying is that this could be an indicator of an area of the world that has discounted the majority of its problems and is at this point a fruitful area of research. It is definately something that is flying under the radar-meaning nobody is beating down the doors telling you to go out and invest in Ireland. If you are not a client of ours do your own research before you buy this or any other related Irish security.

Olann an cat cluin bainne leis!---The quiet cat also drinks milk!