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Monk · 03-08-2003, 07:37 AM

Your investment advisor is out to lunch.

You are asking for an alternative to keeping your money in a US account? Doesn't take a brain surgeon to figure out the alternative.

The Cdn $ has just started its rise (the U.S. $, its fall). This recent move is not just part of ups and downs in the market, this is obviously a larger move. The same investment analysts that told people in 2000 to hold their stocks for the long term are the same people who give advice like you are getting. Meanwhile, they liquidate their positions and leave you holding the bag. That 'buy and hold' line is a piece of crap they feed the public.

How long should somebody keep their money in a U.S. account? 10 years? 20 years? How long willl it take until we see the kind of exchange rates we just had? Ever? Even if somebody decided today that they would hold out for 10 years..... will they still feel the same if the dollar keeps rising and rising? Or would they say fuck it.... and take what they could get?

Just like the stock market... it is easy to sit back now and say you are going to leave your money where it is.... stocks always come back. But when the mass hysteria comes and the stock market looks its bleakest... that there is no chance the market will go up ever again..... those same people will sell their shares... AT THE BOTTOM. Actually, this is what helps MAKE a bottom.... everybody selling their shares and giving up, leaving a ton of cash on the sidelines for when the market can show some strength again.

Whoever made the post about just moving your money over to Cdn. $ on a weekly basis gave the best advice. If you are not a market timer or active trader, just keep plowing it over on a weekly basis and it will have the same effect as dollar cost averaging.

I made a comment in another thread of yours about your investment advisor telling you of 10-25% returns with hardly any risk. My post was meant to be cynical but I think you missed the point.

It seems you are in love with your investment advisor, but if I were you I would can his ass.

03-08-2003, 07:37 AM
Monk Confirmed User Join Date: Jan 2003 Location: Canada Posts: 631	Your investment advisor is out to lunch. You are asking for an alternative to keeping your money in a US account? Doesn't take a brain surgeon to figure out the alternative. The Cdn $ has just started its rise (the U.S. $, its fall). This recent move is not just part of ups and downs in the market, this is obviously a larger move. The same investment analysts that told people in 2000 to hold their stocks for the long term are the same people who give advice like you are getting. Meanwhile, they liquidate their positions and leave you holding the bag. That 'buy and hold' line is a piece of crap they feed the public. How long should somebody keep their money in a U.S. account? 10 years? 20 years? How long willl it take until we see the kind of exchange rates we just had? Ever? Even if somebody decided today that they would hold out for 10 years..... will they still feel the same if the dollar keeps rising and rising? Or would they say fuck it.... and take what they could get? Just like the stock market... it is easy to sit back now and say you are going to leave your money where it is.... stocks always come back. But when the mass hysteria comes and the stock market looks its bleakest... that there is no chance the market will go up ever again..... those same people will sell their shares... AT THE BOTTOM. Actually, this is what helps MAKE a bottom.... everybody selling their shares and giving up, leaving a ton of cash on the sidelines for when the market can show some strength again. Whoever made the post about just moving your money over to Cdn. $ on a weekly basis gave the best advice. If you are not a market timer or active trader, just keep plowing it over on a weekly basis and it will have the same effect as dollar cost averaging. I made a comment in another thread of yours about your investment advisor telling you of 10-25% returns with hardly any risk. My post was meant to be cynical but I think you missed the point. It seems you are in love with your investment advisor, but if I were you I would can his ass.