10-20-2009, 03:09 PM
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#2
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Franchise Player
Join Date: Jul 2003
Location: Section 218
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Quote:
Originally Posted by Doctordestiny
Can I hold either mutual funds denominated in US dollars or a US dollar savings product in an RRSP? You never used to be able to hold investmens in US currency but that may have changed. Does anyone know?
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Why would you want to?
You will (very very likely) lose 10% just on the exchange by the end of next year?
Even if that is not the case, the USD does not hold the same value to Canadian's (or anyone else) that is used to IMO.
Claeren.
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10-20-2009, 03:10 PM
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#3
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#1 Goaltender
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"Since January 1, 2005, you are allowed for foreign property in RRSPs or RRIFs with no limit. This allows more international diversification opportunities for retirement investments."
http://www.cra-arc.gc.ca/tx/ndvdls/t...cntnt-eng.html
__________________
Quote:
Originally Posted by Biff
If the NHL ever needs an enema, Edmonton is where they'll insert it.
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10-20-2009, 03:15 PM
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#4
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Franchise Player
Join Date: Dec 2006
Location: Calgary, Alberta
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You can do this. Its a currency gamble for sure, but if you are confident that the USD is going to come back and the CAD will drop then I can see why you might want to do this.
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10-20-2009, 05:11 PM
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#5
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Franchise Player
Join Date: Sep 2005
Location: Toronto, Ontario
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Hey Slava (and Claeren), not to hijack the thread, because it's somewhat related, but where do you see the US currency going in the near term and long term. I thought a month ago the CDN dollar would drop but personally now think the CDN dollar will test 1.10 at some point. It's just an uneducated guess based on the recent activity, but with today's drop, I'm thinking of selling 2/3's of my USD which I purchased at 1.07, to sell at about 1.05 (at a loss of about $0.02, to purchase more around Christmas at closer to par). Where do you see it long term and short term?
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10-20-2009, 06:35 PM
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#6
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Franchise Player
Join Date: Dec 2006
Location: Calgary, Alberta
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Quote:
Originally Posted by fleury
Hey Slava (and Claeren), not to hijack the thread, because it's somewhat related, but where do you see the US currency going in the near term and long term. I thought a month ago the CDN dollar would drop but personally now think the CDN dollar will test 1.10 at some point. It's just an uneducated guess based on the recent activity, but with today's drop, I'm thinking of selling 2/3's of my USD which I purchased at 1.07, to sell at about 1.05 (at a loss of about $0.02, to purchase more around Christmas at closer to par). Where do you see it long term and short term?
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I want to say that I have no idea. I don't really consider buying and selling currency equivalent to investing. Its more of a guess as to whether the CAD has reached its pinnacle and will start to lose value. Most "experts" are saying that we'll reach parity which makes some sense. In the long term I would guess that the USD will be back to its former value and the CAD will be closer to $.80 but in the near term its hard to know.
If you want to PM me an email address I will send you an article that I wrote on this (currency and investing), but I would rather not post that.
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The Following 2 Users Say Thank You to Slava For This Useful Post:
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10-20-2009, 10:55 PM
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#7
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Unfrozen Caveman Lawyer
Join Date: Oct 2002
Location: Crowsnest Pass
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Quote:
Originally Posted by Slava
I want to say that I have no idea. I don't really consider buying and selling currency equivalent to investing. Its more of a guess as to whether the CAD has reached its pinnacle and will start to lose value. Most "experts" are saying that we'll reach parity which makes some sense. In the long term I would guess that the USD will be back to its former value and the CAD will be closer to $.80 but in the near term its hard to know.
If you want to PM me an email address I will send you an article that I wrote on this (currency and investing), but I would rather not post that.
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Just buy Slava a tequila shot.
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10-21-2009, 09:24 AM
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#8
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Franchise Player
Join Date: Dec 2006
Location: Calgary, Alberta
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Quote:
Originally Posted by troutman
Just buy Slava a tequila shot.
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I can't wait until the year is up!
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10-21-2009, 11:59 AM
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#9
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First Line Centre
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http://www.actionforex.com/technical...2008022737734/
Conclusion:
The better hedge against the US Dollar depreciation is GOLD. The next best thing is OIL and only then you can choose the EURO for this purpose. We think that the fact that GOLD is more a "financial" asset, less influenced by supply and demand pressures like we have in OIL, is the reason of this phenomenon.
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