Oh yeah, I still hold a bearish put position against FXE. I will sell off if it is in-the-money at expiration. The Euro-folks have not cleaned up their act. No one on the Continent has a clue how to run government finances. Euro-leaders have dissembled for years about whether they will let the PIIGS exit. Investors betting on a European resurgence are really betting on lies.
Those of you who are bored with my steady-state portfolio are free to roam elsewhere. I have said before that I will not invest in a stock market where central bank intervention inflates assets prices and lowers the cost of capital. That is unsustainable. Any investment decision that assumes such conditions are sustainable ignores history. Mean reversion will anger many investors who could have known better.