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The Role of Currency in an Investment Portfolio

I just spit out my coffee all over my desk. Not because it tasted bad or because it was too hot. I was on the phone with one of my old friends when it happened. You see, he was telling me that he was unloading some property in the US and that he was considering exchanging his money immediately out of the US dollar once he gets it. Ok fine, that wasn’t my choking moment. It was when he said, “I’m thinking of exchanging everything to the Euro because it’s better than the US dollar, and I think the Euro will one day be the reserve currency”. Spit.

Part of any investment strategy is to at least try and get the “big picture” right. Perhaps the Euro which is experiencing a very overcrowded short position will have a nice pop in the short term. However, in a big picture way, and longer term, to become the reserve currency is a long shot and I would not place my money on. Currency can play a big role in the outcome of investment returns and when taken in the context of an investment portfolio, it should be analyzed as a risk to either mitigate or not. First, here is a refresher on the basics of the currency markets:

Here in Canada, the majority of investors use Canadian money to invest abroad. When doing so, our loonie will get converted to the appropriate currency of the country being invested in. But it is always traded with the US dollar before it moves to another currency. This is called the cross trade.

Basically there are three major currencies that trade on the market; the US dollar, the Japanese Yen, and the Euro. Everything else is cross traded against one or two those three. For instance, if a Canadian investor wants to buy the Bolivian Boliviano known as the BOB, their Canadian dollars are first exchanged to US dollars; the cross trade. Though they don’t disclose all of the “crosses” used to eventually get to the BOB, typically, a quote is given and the investor chooses to take it or not. How a regular investor eventually goes from a Loonie to a BOB is all done behind the scenes with the currency traders.

The point is, when an investor converts to another currency, the US dollar always plays a role in the trade. Traditional investors have to determine their outlook for the US dollar as well as other currencies to determine whether it warrants hedging out the risk or not.

As an example of how currency can affect the returns on an investment portfolio I have included this chart which shows various index percentage returns year to date (May 31st 2010) based in the local currency of the respective country, and then, the same index converted to Canadian currency.

Dow Jones Industrial Avg. -2.79% and in Canadian Currency -3.05%
S&P 500 2.30% and in Canadian Currency -2.56%
NASDAQ Composite -.53% and in Canadian Currency -.80%
S&P/TSX Composite -.15% (Canadian currency)
German DAX Index +.43% and in Canadian Currency -13.91%
FTSE MIB Index -15.87% and in Canadian Currency -27.88%
Swiss Market -3.2% and in Canadian Currency -13.49
Hang Seng Index -9.63% and in Canadian Currency -10.32

(source Bloomberg World Equity Indexes Year to Date May 31st 2010 9:33 AM EST)

Based on this data, it would have been wise to use a currency hedge in an investment portfolio. Had an investor used Canadian currency and converted to the Euro in order to invest in the German DAX index and then cashed out and converted back to Canadian dollars, they would have lost money instead of made money (based on the above time frame). Going forward, to hedge or not is based on what one thinks of the global macro picture.

My Big Picture:

Personally, I think the macro picture when it comes to currency is very uncertain and will most likely be very volatile. With sovereign debt in abundance, risk of deflation, risk of another recession, all within the scope of already low interest rates, just makes me think the only tool in the tool box to be used is a global race to currency devaluation. Since I’m not a currency speculator, I prefer to mitigate currency risk in investment portfolios for the time being.

Now, I need another cup of coffee.

Susan Mallin works with MGI Securities as a Toronto-based investment advisor. As an investment advisor at MGI Securities, Susan is able to offer clients a full suite of investment services and investment products. Her process was designed to guide clients through a sea of choices in order to help them make decisions, in a manner that is simple yet effective, throughout the journey of reaching their financial goals. Susan’s investment practice isn’t focused on account size or age. It’s about desire, attitude and willingness to succeed.

Visit my blog, for relevant, understandable investment resources.

Copyright Susan Mallin. All rights reserved. You may reprint this article as long as you leave all of the links active, do not edit the article and give the author credit.

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Investing Tips to Save Your Money

How to save your hard earned money? Do you have an investment plan? Here are some tips to select appropriate investing options to retire wealthy.

Traditionally, there are 3 investment options available. The golden rule is to diversify your portfolio among all the options depending upon your risk appetite, earnings and the time span you let the assets to grow. The diversification balances your portfolio between the risk prone ones to the conservative ones and thus preventing heavy exposure of wealth in a single asset class.

Investment options

1) Equity Shares

It is, basically, the most common asset class where people put their money because it has
high return on investment, but at the same time, involves substantial amount of risk. People buying equity shares of a company are legally part of the company and thus profit to the company is entitled to them. People who are younger and at the beginning of their career, having higher risk appetite can allocate considerable amount in this class. But people who are about to retire in a few years can limit their exposure, as it is highly risky in their part.

2) Bonds, Mutual funds, Savings A/c

Bonds are securities that people can buy from governments, private companies, etc and the issuer of
the bond is obliged to pay the lender. It involves less risk appetite because of its lesser rate of return. Similarly, savings account also is a good option for investment with less risk. Since the return on investment is less, it is savvy to expose only a part of your wealth in this class. But again, it depends upon ones risk appetite and time horizon.

3) Real Estate

Real estate is yet another area which one should have in their portfolio. Real estates are tangible assets
that provides more stability to a portfolio. But it requires long time period to grow your wealth.

One more asset class getting popular these days are commodities. For instance, gold and silver come under this class and it is good to include them in your portfolio as well. Gold is considered to be the safe haven for investors during inflation, because during inflation gold rate will increase as well, preventing your portfolio from falling off the bridge.

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Where Can You Buy Bonds?

Before deciding to add bonds to your portfolio you need to understand them a bit. Different bonds carry varying levels of risks. You need to understand which bonds are considered safer than others and why.

You must look at par value, the coupon rate and the date of maturity when weighing your choices.

A bond’s par value basically tells you what your bond’s value will be on the date of maturity. On the date of maturity, you will get your initial investment back.

You will know the date that this will happen ahead of time. This is referred to as the maturity date. In addition, on this day, you will also get paid the interest that was made on your investment.

Corporate and State and Local Government bonds can be ‘called’ before they reach their maturity, at which time the corporation or issuing Government will return your initial investment, along with the interest that it has earned thus far. Bonds that are offered by the federal government must remain until the expiration date.’

The coupon rate is the interest that you will receive when the bond reaches maturity. This is stated as a percentage. There is other information that you will need to discover what the interest rate will be. So if you had a bond with a par value of $3000, with a coupon rate of 5%, you would receive $150 for each year until the bond matures.

Because bonds are not issued by banks, many people don’t understand how to go about buying one. You basically have two ways to buy one.

You can use a broker or brokerage firm to make the purchase for you or you can go directly to the Government. You can go through a brokerage house or you can go straight to the government. To get the best value for your bond with the least commissions compare rates between brokerage firms.

Buying your bonds from the government is actually quiet easy. If you want to purchase bonds, hold them all in one account and gain access to them easily consider Treasury Direct. This will save you money that you would otherwise have spend in brokerage firm fees.

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Understanding New Cellphone Data Plans (Deal of the Day)

Expect short-term savings but bigger bills in the long term.


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The Basics of Investment Banking

An investment banking company is a business that performs various intermediary functions for a financial set up like underwriting, mediating mergers or acquisitions and even take sup brokerage services for institutions. An investment banker is a person who carries out these processes and works for an investment banking company.

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Choosing From Your Personal Investment Options

Many people today are doing their own investing, usually online through different sites that allow you to buy and sell stocks and other such choices. Of course, being able to choose from all your personal investment options does not necessarily mean that a person understands all those various options! Even those that have been buying stocks and bonds for many years often struggle with new options and with keeping track of their performance.

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When ETFs Cut Costs, Should You Bite? (On the Street)

As ETFs grow, experts say price cuts don’t always signal a good deal.


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Various Types of Investments

Investment means the sacrifice of a certain present value for possible uncertain future value. It is a choice between consumption in the present and consumption in a future time. It refers to the purchase and continued ownership of some form of assets over a period of time with the object of earning continuing income and to secure maximum possible profits from capital value increases. The expected income can be a periodic inflow of money such as rent from a house, dividends from shares or interest from bonds as well as the capital sum of money such as profit from selling shares or capital gain from selling a property.

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Guidance In Forex Trading for Beginners

When you are still in the beginning stage of forex trading, it is a smart thing to equip yourself with basic important guidance in forex. This article will picture out all it needs to get success in the trading. The information provided below is assumed as if you have the least knowledge about forex market.

Forex trading for beginners will involve a long learning process. There are so many things that the beginners have to learn first, such as the terminology, candlestick chart, stochastics chart, analytical analysis, momentum, RSI, average, and so on. You must possess this knowledge so that you have a clear picture about what forex market is and know what to do in the trading.

There are many sources in which you can retrieve such information from, such as from book or internet. Just like a soldier heads off to war with his weapon, you will also head off to the forex market with knowledge and supportive tools such as charts and others as your power.

It is highly suggested that you start the forex trading with the demo account first. When you have spent sometimes to analyze how you are doing in the trading and concluded that it is worth for a real investment, then you can trade in a live account. As you are still in the stage of trying and error, it is always better if you start the trading with some small amount in your account.

There are many currency pairs to trade, but the major currency pairs will be EURO/USD, GBP/USD and USD/JPY. When you have your account activated, then you can soon start the real time trading. One crucial tip of forex trading for beginners is to place stop loss order in every deal you make. It is important because it can help you in minimizing the potential loss that you might have to deal later.

The stop loss order is significantly needed in trading, especially when the market turns out to be against your prediction. The market movement can be slow but can be quick as well. The trend can be falling suddenly when there is any crucial economic news. Therefore, you must prepare yourself for the worst-case scenario and it is by placing the stop loss order at the determined price. Whenever you want to place any deal, you need to check the forex calendar first, so that you are aware of any possible movement later.

When you do not want to be bothered with too many complicated things, you can utilize any automated forex trading software or trading robot to do the whole transaction works. One of the best options that you can try is the maestro robot. It is well tested and proven to be able to generate profit automatically. However, no matter how great the software is, it is always better if you do not merely rely 100% on it.

Before jumping in the field, you need to have the right mindset and behavior, which are patience, hard work and dedication. No one can get success in forex trading market without it. When you possess these mindset and behavior, then you need to equip yourself with forex knowledge that can be retrieved from articles, books, tutorial software and so on.

The rest is now a matter of time and dedication. Good luck for your trading!When you are still in the beginning stage of forex trading, it is a smart thing to equip yourself with basic important guidance in forex. This article will picture out all it needs to get success in the trading. The information provided below is assumed as if you have the least knowledge about forex market.

Forex trading for beginners will involve a long learning process. There are so many things that the beginners have to learn first, such as the terminology, candlestick chart, stochastics chart, analytical analysis, momentum, RSI, average, and so on. You must possess this knowledge so that you have a clear picture about what forex market is and know what to do in the trading.

There are many sources in which you can retrieve such information from, such as from book or internet. Just like a soldier heads off to war with his weapon, you will also head off to the forex market with knowledge and supportive tools such as charts and others as your power.

It is highly suggested that you start the forex trading with the demo account first. When you have spent sometimes to analyze how you are doing in the trading and concluded that it is worth for a real investment, then you can trade in a live account. As you are still in the stage of trying and error, it is always better if you start the trading with some small amount in your account.

There are many currency pairs to trade, but the major currency pairs will be EURO/USD, GBP/USD and USD/JPY. When you have your account activated, then you can soon start the real time trading. One crucial tip of forex trading for beginners is to place stop loss order in every deal you make. It is important because it can help you in minimizing the potential loss that you might have to deal later.

The stop loss order is significantly needed in trading, especially when the market turns out to be against your prediction. The market movement can be slow but can be quick as well. The trend can be falling suddenly when there is any crucial economic news. Therefore, you must prepare yourself for the worst-case scenario and it is by placing the stop loss order at the determined price. Whenever you want to place any deal, you need to check the forex calendar first, so that you are aware of any possible movement later.

When you do not want to be bothered with too many complicated things, you can utilize any automated forex trading software or trading robot to do the whole transaction works. One of the best options that you can try is the maestro robot. It is well tested and proven to be able to generate profit automatically. However, no matter how great the software is, it is always better if you do not merely rely 100% on it.

Before jumping in the field, you need to have the right mindset and behavior, which are patience, hard work and dedication. No one can get success in forex trading market without it. When you possess these mindset and behavior, then you need to equip yourself with forex knowledge that can be retrieved from articles, books, tutorial software and so on. The rest is now a matter of time and dedication. Good luck for your trading!

Best Forex Trading Software – Automatically Generate Your Trading Decisions When You Relax. Learn more about exactly what this product is about here: instantforexprofit.com

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How to Find the Best CD Advice and Ratings

The right advice could get you the best CD interest rates and the highest returns. Find out the best places to get CD advice.

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cXVpY2tpbnZlc3QubmV0L3dwL3dwLWNvbnRlbnQvd29vX3VwbG9hZHMvNC1xLmpwZyI7aTozO3M6NjE6Imh0dHA6Ly9xdWlja2ludmVzdC5uZXQvd3Avd3AtY29udGVudC93b29fdXBsb2Fkcy8zLXFpbG9nby5qcGciO308L2xpPjxsaT48c3Ryb25nPndvb192aWRlb19jYXRlZ29yeTwvc3Ryb25nPiAtIFNlbGVjdCBhIGNhdGVnb3J5OjwvbGk+PC91bD4=