Graphic: Untimely Investments

Many investors bet on a weak dollar by buying foreign stocks and bonds denominated in other currencies. But how do you play a stronger dollar? Online bank EverBank ( and two fund companies, ProFunds Advisors ( and Rydex Investments (, have come up with some novel approaches. With Everbank's new DollarBull CDs, which require a $10,000 minimum investment, you bet that 1 of 12 currencies will weaken against the dollar. Choose the euro, and the bank will sell euros, buying them back in 3, 6, or 12 months -- whenever the CD expires. If you're right, and the dollar rises, you'll make a profit. If you're wrong, you'll have a loss. There's no interest on these CDs. In fact, you have to pay for the trans-action. That's about 0.5% for the euro, but the fee varies depending on the currency. At ProFunds, the Rising U.S. Dollar ProFund tracks the U.S. Dollar Index and requires a $15,000 investment. Rydex, meanwhile, just launched the Strengthening Dollar Fund, designed to double the return of that index. The minimum is $25,000. Remember, a fund that doubles your gains can double your losses, too.

Cobblestone streets evoke Old World charm. Now your driveway can have the same look thanks to a Studio City (Calif.) company that imports modular sections of cobblestone quarried in the Italian Alps. The modules from Eurocobble ( go for $15.90 per square foot and are less expensive than paving stones, which must be placed one at a time. Minimum order is 1,600 square feet.

What book should you throw into your beach bag? How about The Diary of Ma Yan, the heart-wrenching story of a Chinese peasant girl's struggle to get an education? It's one of the nonfiction books that JPMorgan Private Bank (JPM) is recommending to its clients as they head off on vacation ( The list runs the gamut from Through the Eyes of the Gods: An Aerial Vision of Africa by Robert Haas, to Island at the Center of the World: The Epic Story of Dutch Manhattan by Russell Shorto. One book, Duveen: A Life in Art by Meryle Secrest, profiles the art dealer who served Henry Clay Frick, Henry Huntington, and, you guessed it, J.P. Morgan.

The Good Business Issue
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