“Merry Christmas to you and David! And an advanced happy new year!

“2011 was a tough investment year for me so I was fortunate enough to participate to the Singapore Chart Seminar to limit somehow my losses.

“And today, I'm taking advantage of the US Dollar strength and the favorable renewal rate before year-end to take the 1-year subscription.

“One last thing, regarding last week (21 Dec 2011) question / email about Market Vectors Indonesia ETF, unless mistake on my side, your comparison chart was between the JCI (in Rupiah) and the IDX ETF (in USD). So I think the exchange rate should be considered.

“I think the chart library cannot superpose JCI converted into USD and IDX (see attached “JCI in USD”), so I played around it by downloading the stock values from Yahoo Finance into Excel (see attached “Fullermoney-IDX.xlsx”) and the exchange rate USD-IDR seems to explain the difference between JCI (in Rupiah) and IDX (in USD). Please let me know if my understanding is wrong.

“Enjoy the last week of the year,”

Eoin Treacy's view Thank you for your kind words and it was a pleasure to meet at the Singapore seminar earlier this year. Thanks also for the attached Excel generated chart and for raising a number of additional points to my response posted in Comment of the Day on December 21st.

This comparative chart from Bloomberg compares the Jakarta Composite Index with the Market Vectors Indonesia ETF and, the latter's benchmark, the Market Vectors Indonesia Total Return Index in a single currency. The Composite Index has outperformed both the ETF and its benchmark so you are correct.