Canadian webmasters with U.S accounts - GoFuckYourself.com

bogo · 03-07-2003, 02:21 PM

the canadian dollar is going up,as you know,but how long will you wait to transfer u.s funds,to your canadain acct?

with RBC Royal bank,it seems the rate is dropping everyday.
Right now its buying u.s dollars at the rate of 1.4444,whcih was 1.5523 a few mths ago.(big difference)

the big question is,will the canadian dollar go up even more than what it is?or should i wait untill the canadian dollar goes down?

im losing lot of money everyweek,with the stronger canadian dollar...

http://www.rbcroyalbank.com/cgi-bin/travel/fxconvert.pl

Dildozer · 03-07-2003, 02:22 PM

The big diff i believe is that the US dollar is going down

Rich · 03-07-2003, 02:23 PM

Wait? If anything, it's only going to get worse. The USA was high, but it will never be that high again. It was inflated, on a bubble. Traditionally, the rate is even lower than it is right now. Don't expect it to go back up in the next decade, just be happy for the bonus us Canucks were getting the past couple years, it was nice while it lasted.

Rich · 03-07-2003, 02:25 PM

I didn't get any VC capital or anything, but the dot com bubble made me millions by inflating the USD.

p00p · 03-07-2003, 02:27 PM

Quote:

Originally posted by bogo
the canadian dollar is going up,as you know,but how long will you wait to transfer u.s funds,to your canadain acct?

with RBC Royal bank,it seems the rate is dropping everyday.
Right now its buying u.s dollars at the rate of 1.4444,whcih was 1.5523 a few mths ago.(big difference)

the big question is,will the canadian dollar go up even more than what it is?or should i wait untill the canadian dollar goes down?

im losing lot of money everyweek,with the stronger canadian dollar...

http://www.rbcroyalbank.com/cgi-bin/travel/fxconvert.pl

This sucks. We are transferring to our Canadian account as soon as something goes in the U.S. account. I think I read in the paper today that the dollar may get even better.

CDSmith · 03-07-2003, 04:45 PM

I would suggest that if you can afford it, leave your US money in your US account for now, and wait and see what happens. Markets always go up and down..... always. This downtrend of the US dollar isn't going to last forever, so wait...if you can.

If you can't, then again, don't worry about it. I'm not. When I got in this biz and started depositing cheques, the US dollar was worth $1.46 Cdn, so anything above that was "gravy" to me, and we all know the exchange rate went wayyy up over the past few years. I once transfered $2500 bucks over when it was at a whopping $1.62 Cdn. That was...insane.

Like I say, up and down, So if you need to move some US over to your Cdn, move only what you need and leave the rest in your US account.... and wait.

xxxcam · 03-07-2003, 04:50 PM

fuck I just transfered 1.6k to canadians @ 1.44

use to be 1.55 all the time, so I just lost about $200-300

fucking sux, US dollar GO UP !!!!!!!!!!!!!

FlyingIguana · 03-07-2003, 05:29 PM

Quote:

Originally posted by CDSmith
I would suggest that if you can afford it, leave your US money in your US account for now, and wait and see what happens. Markets always go up and down..... always. This downtrend of the US dollar isn't going to last forever, so wait...if you can.

If you can't, then again, don't worry about it. I'm not. When I got in this biz and started depositing cheques, the US dollar was worth $1.46 Cdn, so anything above that was "gravy" to me, and we all know the exchange rate went wayyy up over the past few years. I once transfered $2500 bucks over when it was at a whopping $1.62 Cdn. That was...insane.

Like I say, up and down, So if you need to move some US over to your Cdn, move only what you need and leave the rest in your US account.... and wait.

the fundamentals of the US economy isn't very good in regards to what affects the dollar. US$ is expected to lower relative to the canadian dollar. i wouldn't bother holding US$'s right now.

CDSmith · 03-07-2003, 10:00 PM

Quote:

Originally posted by FlyingIguana
the fundamentals of the US economy isn't very good in regards to what affects the dollar. US$ is expected to lower relative to the canadian dollar. i wouldn't bother holding US$'s right now.

Do what's best for you bro.

But if someone can afford to think in the long-term, they should keep some US funds in their US account and transfer that when the trend reverses..... because at some point it will. It always does.

FlyingIguana · 03-07-2003, 10:10 PM

Quote:

Originally posted by CDSmith
Do what's best for you bro.

But if someone can afford to think in the long-term, they should keep some US funds in their US account and transfer that when the trend reverses..... because at some point it will. It always does.

you don't know what the future will hold. do you think it'll just go back to where it was a year ago? it may not for 5 years. the US$ was overvalued.

CDSmith · 03-07-2003, 10:14 PM

Dood, for fuck sakes, do you have to argue over everything? I've talked to my investment advisor on this, and he assures me that when looking at these kinds of trends people tend to think in the here-and-now rather than the long term.

As I said.... IF YOU CAN AFFORD to keep some funds back, then it's probably a good idea to do so, because things will inevitably change. Things always do, and anyone who has been around long enough to study the markets knows that.

If you want to be a doomsayer that's your business. What part of "do what is best for you" didn't you quite get?

FlyingIguana · 03-07-2003, 10:19 PM

Quote:

Originally posted by CDSmith
Dood, for fuck sakes, do you have to argue over everything? I've talked to my investment advisor on this, and he assures me that when looking at these kinds of trends people tend to think in the here-and-now rather than the long term.

As I said.... IF YOU CAN AFFORD to keep some funds back, then it's probably a good idea to do so, because things will inevitably change. Things always do, and anyone who has been around long enough to study the markets knows that.

If you want to be a doomsayer that's your business. What part of "do what is best for you" didn't you quite get?

the dollar isn't expected to rebound this year and its expected to get worse. why hold your money in US funds just because its dropped down a bit? take the money and put it to a better use than worrying about a couple percent.

HS-Trixxxia · 03-07-2003, 10:26 PM

Exchange it as you need it - if you need it. It kinda works like Dollar Cost Averaging for investments. The different rates you'll get paid on the different amounts you exchange may average out to a better rate on the whole. Also, find out what the rate was for the past week and leave an order with your bank to exchange
your money immediately if it reaches: ex. 1.46 and you'll hold if it's lower than 1.45. The other thing is shop around for the best exchange rate. I exchanged some tonight at 1.4515 at my bank and they seem to always pay about .0115 & .020 higher than the main Chartered Banks.

Once the US decides when and if this war will take off - you may want to keep some USD to invest - after a war or depression is the best time to invest in stocks.

Just my

Trixxxia

CDSmith · 03-07-2003, 10:26 PM

Let me put it another way.

The US dollar has been weakened only over the past few months, and the Cdn dollar has been getting stronger only over the past ONE month or so.

However...

Anyone that has RRSP's knows that those investments have been losing some money for the past YEAR now, over a whole year of steady decline. But did you automatically rush to your bank or investment guy and pull out all your RSP money? (at a massive penalty I might add). Did you? I sure as hell didn't, and I don't know anyone else that did.

Why?

I'll tell you why.... because banks and investment guys will tell you the same thing... that the markets go up and down over the course of months, from one year to the next, and longer. They will tell you exactly what I'm saying... IF you can afford to keep your money where it is, things will eventually improve.

This war has only really been brewing hotly for a couple of months now. If you really think it's going to last for 5 years the by all means pull all your US money and change it over now. Do it, because we all know the sky is falling and it's the end of the good times as we know it, right? Right?

Listen to me, don't listen to me, or find another option..... whatever. It all boils down to doing what's best for you. So go do it already.

CDSmith · 03-07-2003, 10:27 PM

Quote:

Originally posted by Trixxxia
Exchange it as you need it - if you need it. It kinda works like Dollar Cost Averaging for investments. The different rates you'll get paid on the different amounts you exchange may average out to a better rate on the whole. Also, find out what the rate was for the past week and leave an order with your bank to exchange
your money immediately if it reaches: ex. 1.46 and you'll hold if it's lower than 1.45. The other thing is shop around for the best exchange rate. I exchanged some tonight at 1.4515 at my bank and they seem to always pay about .0115 & .020 higher than the main Chartered Banks.

Once the US decides when and if this war will take off - you may want to keep some USD to invest - after a war or depression is the best time to invest in stocks.

Just my

Trixxxia

Exactamundo.

Theo · 03-07-2003, 10:45 PM

working on internet and thinking to invest in stocks doesnt sound very logical to me,unless you have reached your online plans in a level it's pretty much impossible to expand......

Za Ha · 03-07-2003, 10:46 PM

Quote:

Originally posted by Trixxxia
Once the US decides when and if this war will take off - you may want to keep some USD to invest - after a war or depression is the best time to invest in stocks.

Just my

Trixxxia

Thats a bit wrong, DURING is the best time.

FlyingIguana · 03-07-2003, 10:59 PM

Quote:

Originally posted by CDSmith
Let me put it another way.

The US dollar has been weakened only over the past few months, and the Cdn dollar has been getting stronger only over the past ONE month or so.

However...

Anyone that has RRSP's knows that those investments have been losing some money for the past YEAR now, over a whole year of steady decline. But did you automatically rush to your bank or investment guy and pull out all your RSP money? (at a massive penalty I might add). Did you? I sure as hell didn't, and I don't know anyone else that did.

Why?

I'll tell you why.... because banks and investment guys will tell you the same thing... that the markets go up and down over the course of months, from one year to the next, and longer. They will tell you exactly what I'm saying... IF you can afford to keep your money where it is, things will eventually improve.

This war has only really been brewing hotly for a couple of months now. If you really think it's going to last for 5 years the by all means pull all your US money and change it over now. Do it, because we all know the sky is falling and it's the end of the good times as we know it, right? Right?

Listen to me, don't listen to me, or find another option..... whatever. It all boils down to doing what's best for you. So go do it already.

you obviously don't know why the dollar has dropped. i would be shocked if the exchange rate goes back up to 1.5+. i've seen some saying 1.38 by the end of the year. its based on fundamentals and its not looking good in the states. economy is very sluggish.

will the states raise interest rates if the dollar slips more? i highly doubt it. meanwhile there's more rate hikes expected here.

CDSmith · 03-07-2003, 11:04 PM

Quote:

Originally posted by FlyingIguana
you obviously don't know why the dollar has dropped. i would be shocked if the exchange rate goes back up to 1.5+. i've seen some saying 1.38 by the end of the year. its based on fundamentals and its not looking good in the states. economy is very sluggish.

will the states raise interest rates if the dollar slips more? i highly doubt it. meanwhile there's more rate hikes expected here.

*sigh*

CDSmith · 03-07-2003, 11:08 PM

What reason could I possibly have for going into a big long complicated lesson about *why* the dollar has dropped? In the long term it really doesn't matter. What, you're insinuating that the world/US political situation has nothing to do with it? Riiight.

Fuck, am I saying it wrong here? DO WHAT IS BEST FOR YOUUUU.

Holy shit, I know why I'M not out having fun on a Friday night, and now I'm pretty sure I know why YOU aren't either. Dood, this doesn't have to be a prolonged debate here.

CDSmith · 03-07-2003, 11:13 PM

Quote:

Originally posted by Soul_Rebel
working on internet and thinking to invest in stocks doesnt sound very logical to me,unless you have reached your online plans in a level it's pretty much impossible to expand......

Stocks?? Oh yeah, Trixxia's comments. Well, what are you saying?...... I'm not certain. If a webmaster is earning more than enough to live on and wants to start investing I see no harm in it. I don't see what working on the internet has to do with it, income is income.

Again, it's all a matter of opinion, and it's really about each individual doing what is best for themselves.

FlyingIguana · 03-07-2003, 11:14 PM

Quote:

Originally posted by CDSmith
What reason could I possibly have for going into a big long complicated lesson about *why* the dollar has dropped? In the long term it really doesn't matter. What, you're insinuating that the world/US political situation has nothing to do with it? Riiight.

Fuck, am I saying it wrong here? DO WHAT IS BEST FOR YOUUUU.

Holy shit, I know why I'M not out having fun on a Friday night, and now I'm pretty sure I know why YOU aren't either. Dood, this doesn't have to be a prolonged debate here.

well i'm not out having fun because i'm busy until may 31st. then its party time

CDSmith · 03-07-2003, 11:21 PM

Quote:

Originally posted by FlyingIguana
well i'm not out having fun because i'm busy

Sure dood, whatever.

FlyingIguana · 03-07-2003, 11:24 PM

Quote:

Originally posted by CDSmith
Sure dood, whatever.

big exam on may 31st, lvl 2 cfa exam.

Rich · 03-08-2003, 02:25 AM

lol, CDSmith no offense but you need a new financial advisor. The USD has been overvalued for years, it probably won't get to 1.5 again in our lifetime. Keeping money in a USD account hoping the exchange rate will eventually increase a couple percent is about that stupidiest thing you can do with your money. No offense, you're getting bad advice bro.

yys · 03-08-2003, 03:15 AM

Quote:

Originally posted by Rich
lol, CDSmith no offense but you need a new financial advisor. The USD has been overvalued for years, it probably won't get to 1.5 again in our lifetime. Keeping money in a USD account hoping the exchange rate will eventually increase a couple percent is about that stupidiest thing you can do with your money. No offense, you're getting bad advice bro.

CDSmith · 03-08-2003, 06:24 AM

Quote:

Originally posted by Rich
lol, CDSmith no offense but you need a new financial advisor. The USD has been overvalued for years, it probably won't get to 1.5 again in our lifetime. Keeping money in a USD account hoping the exchange rate will eventually increase a couple percent is about that stupidiest thing you can do with your money. No offense, you're getting bad advice bro.

Well, rich, no offense here but if you're not prepared to offer or suggest an alternative, why spout off at all?

Okay I'll ask.... what are YOU doing with your US money?

Again, for those that are mentally deficient... all I said was that IF YOU CAN FUCKING AFFORD IT.... then leave some US money in your US account for a while. It ain't rocket science, and it isn't bad advice at all. If you have some fund that you can sink your US bucks into without taking such a loss then by all means do it, and share it with the class if it's not too much trouble.

Anyone can say it *probably* won't get to such-and-such in our lifetime.... then again once this whole war thing is behind us and the oil situation again changes, who's to really fucking SAY what the hell is going to happen with the US and CDN dollar values? Every mouthpiece in existance has an opinion, so what? No one can intelligently argue that markets (especially including money markets) go up and down constantly. That means that for every "up" there is going to be a "down", and guess what?..... that means every "down" is usually followed by an "up" at some point.

Jimmer · 03-08-2003, 06:58 AM

I spend it when I get it

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.

CDSmith · 03-08-2003, 07:46 AM

Quote:

Originally posted by Jimmer
I spend it when I get it

Yup, that's always an option.

I think a little qualification might be in order here, because I'm sensing from some that my meaning isn't quite getting through. So here goes.... Read it all, think about it, and THEN comment.

Not long ago, and for the longest time, the USD value was floating around the $1.55 to $1.58 mark. This last time it hit $1.54, then $1.53.... I moved 99% of my US money over to my Cdn account. Us long-timers had that luxery to do so, and hopefully many of you did the same or similar.

- If you're the type that only makes a certain amount and need to live paycheque to paycheque, then by all means keep exchanging your money as you get it. I would suggest putting aside some for your future though, as I've mentioned in other threads. We webmasters don't really have a company retirement fund so plan ahead if you're doing this full time.

- But newer guys, and for us long-timers from now on must manage our money a little more carefully. Right now this second the US dollar is selling at $1.46 Cdn....so at my bank anyway the buying amount (for them) is $1.44 or so. That's what I would get today at the bank for my US money.

So, if you're the type that is getting some large cheques, you have a choice here. You can keep on exchanging your money over to Cdn as you get it, or at some point, maybe at $1.42, maybe at $1.40.... IF YOU CAN AFFORD IT.... you might want to consider keeping a few grand in your US account as a buffer until things turn around. I've been doing this anyway for a long time up until recently, but I'm about to start again. Then, keep exchanging the rest of your US money as you want to, but leave that buffer amount alone for now. So what if the US dollar goes below $1.40? As I said before, at some point the Canada & US markets are again going to change, and when the US dollar value rises back to the high-40's or so you'll be ready to exchange your buffer amount for a decent price.

It's a risk, but I don't see the harm in taking it. I strongly feel that the exchange rate will decrease some more, then over time it will go back up to a certain level. If it bottoms out at $1.38 and then a year later it's at $1.47, for every $10,000 US you moved over to your Cdn account you'd earn an extra $900 Cdn or so. Not bad in my book. On the other hand, the downside risk is smaller, because if you earned your US money valued at $1.37 to $1.42, and the exchange rate DOESN'T go up...well we have to agree that it's very likely going to go down only so far. If it goes to $1.36 and you are compelled to exchange it at that point your loss is only a few hundred per $10,000 US.

It's a choice that some that can afford it might want to think about. If it's not something you'd be able to afford to do then don't do it, it's really that simple. Exchange your US money as you wish, shaddaap and be happey about it. And good luck to my fellow Canadians, here's hoping that I am right and the rates recover in a year or so... and here's hoping that these other guys are wrong.

[ edited for typos ]

CDSmith · 03-08-2003, 07:58 AM

Quote:

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

No need to get all stupid here buddy. We're just talking, so shred somewhere else, aight?

I'm a fucking optimist. I like to think things will eventually improve, and I like to be ready to benefit from those eventual improvements. I chose an investment guy that thinks along the same lines as I do, and so far he's done quite well for me. If that's not alright with you, I'm sure I don't have to tell you what you need to do next.

Monk · 03-08-2003, 08:17 AM

Its your money... do whatever you want with it. But when you start spewing that shit on the board as advice, I will speak up.

...and if you call that shredding, you need to get out more. Consider it some friendly advice.

Monk · 03-08-2003, 08:27 AM

Quote:

Originally posted by CDSmith

It's a risk, but I don't see the harm in taking it. I strongly feel that the exchange rate will decrease some more, then over time it will go back up to a certain level. If it bottoms out at $1.38 and then a year later it's at $1.47, for every $10,000 US you moved over to your Cdn account you'd earn an extra $900 Cdn or so.

[ edited for typos ]

Interesting that you think the low end risk is 1.38 - this table might suggest otherwise.

http://blacktusk.commerce.ubc.ca/cgi-bin/fxdata

Monk · 03-08-2003, 08:32 AM

that link didn't work.

Go here http://pacific.commerce.ubc.ca/xr/data.html and enter the US DOllar as the base currency, the Canadian dollar as the Target currency, the frequency as weekly, and the beginning date as Jan.1, 1971 and you can see the results.

Yes... you are definitely an optimist if you think 1.38 is the worst downside.

CDSmith · 03-08-2003, 08:56 AM

Quote:

Originally posted by Monk
Its your money... do whatever you want with it.

I've said as much as this like 5 times on this thread already. You must be one of those with selective reading disorder.

Quote:

But when you start spewing that shit on the board as advice, I will speak up.

Spew away then. Who's stopping you? But there's a difference between having a conversation and useless arguing in a lameass way. "spewing that shit" is a prime example. I've said it a few times already.... if you don't agree with what I'm saying then don't fucking do it.

Quote:

...and if you call that shredding, you need to get out more. Consider it some friendly advice.

You could just as well do the same with my posts here.

It almost feels like you are trying to discourage me from urging webmasters to think about where their money is going, and plan better-paying investments for the long-term. I don't understand people that take opposition to good fucking advice like this.... it strikes me that arguing with me about such points is quite retarded. I don't know some of you nay-sayers, but I'd be quite surprised of so many people here were that short-sighted and narrow in their thought processes.

I guess we'll see what realy happens in 6 months, a year, two years. If I'm wrong then fine, no harm done, at least not where my finances are concerned. But if I'm right then I'll be happy for Canadian webmasters, period.

CDSmith · 03-08-2003, 09:03 AM

Quote:

Originally posted by Monk
that link didn't work.

Go here http://pacific.commerce.ubc.ca/xr/data.html and enter the US DOllar as the base currency, the Canadian dollar as the Target currency, the frequency as weekly, and the beginning date as Jan.1, 1971 and you can see the results.

Yes... you are definitely an optimist if you think 1.38 is the worst downside.

I tend to use the chart listed here:

http://finance.yahoo.com/m3?a=1&s=USD&t=CAD

2 yr chart here: http://finance.yahoo.com/m5?s=USD&t=CAD&a=1&c=2

That chart, over a 10 year period, looks a lot like what I described above.... an typical upswing - downswing pattern. It will be interesting to see what that chart looks like in 6 months, when hopefully the US economy has picked up and the dollar is stronger. Hopefully.

If you have no hope in your life, kill yourselves now.

bogo · 03-08-2003, 09:19 AM

Quote:

Originally posted by CDSmith
Yup, that's always an option.

I moved 99% of my US money over to my Cdn account. Us long-timers had that luxery to do so, and hopefully many of you did the same or similar.
[ edited for typos ]

smart move...i wish i had done the same,but its too late now,so i think ill just have to hold on to u.s. funds,and hope that the canadain dollar goes down, hopefully within the next 6 mths.
if you figured out that the canadian dollar was going to get stronger,then i think i can take your advise,and hold on to u.s funds.

pornjudge · 03-08-2003, 09:33 AM

Quote:

Originally posted by bogo
the canadian dollar is going up,as you know,but how long will you wait to transfer u.s funds,to your canadain acct?

with RBC Royal bank,it seems the rate is dropping everyday.
Right now its buying u.s dollars at the rate of 1.4444,whcih was 1.5523 a few mths ago.(big difference)

the big question is,will the canadian dollar go up even more than what it is?or should i wait untill the canadian dollar goes down?

im losing lot of money everyweek,with the stronger canadian dollar...

http://www.rbcroyalbank.com/cgi-bin/travel/fxconvert.pl

Blame it on Bush

Monk · 03-08-2003, 09:47 AM

"It almost feels like you are trying to discourage me from urging webmasters to think about where their money is going"

Right. It is better to give just your bright-eyed, bushy-tailed view of the markets rather than present both sides... don't want them to think TOO much.

"I don't understand people that take opposition to good fucking advice like this...."

What makes you think it is such good fucking advice? Because some guy told you so?

it strikes me that arguing with me about such points is quite retarded."

Why? You cannot handle opposing views?

"I don't know some of you nay-sayers, but I'd be quite surprised of so many people here were that short-sighted and narrow in their thought processes."

Why do you think I am short-sighted? Because I disagree with you? I gave you a 30 year table and you come back with a 2 year chart and you call me short-sighted? Also, if you look at the 2 year chart you provided, you can see that the previous lows were taken out.
As opposed to what you think.... the market doesn't just bounce around up and down, always reverting to a median point. There are things called trends, like the market bubble in the 1990's and the bust that we are in now. Currency markets are no different.

"I guess we'll see what realy happens in 6 months, a year, two years. If I'm wrong then fine, no harm done, at least not where my finances are concerned. But if I'm right then I'll be happy for Canadian webmasters, period."

If you are wrong... how do you figure there is no harm done to your finances?

Rather than just get indignant that I disagree with you, why don't you tackle some of the stuff I posted and address why you think it doesn't apply to you or your money.

I just don't understand an investment strategy that is based on 'hope'. Save the hope for other things in your life, not when it comes to managing money.

CDSmith · 03-08-2003, 09:52 AM

Unreal.

so telling webmasters to think about planning for the future is wrong.

Monk, you have fucking issues.

I'm not saying my suggestions are for everyone, and no one can say with any certainty what every market will or won't do. That was never my point on my other thread, as I stated many times. It's not my point here either, so get a clue. You're being a bonehead. Why are you a bonehead?..... simple. Because the ONLY reason I've been posting about finances is to try and get people thinking about it rather than just living week to week like most people do.

If that is wrong to you, then the problem lies with you, not me.

Can we just agree to disagree now? I'm as tired of your shit as you are of mine, trust me on that.

Monk · 03-08-2003, 10:00 AM

"so telling webmasters to think about planning for the future is wrong. "

I feel llike I'm talking to a kid here. Where did I say that planning for the future is wrong? What are you talking about? How old are you? I am talking about planning for the future..... just not based on sheer hope, like you do.

"I'm not saying my suggestions are for everyone, and no one can say with any certainty what every market will or won't do."

Aren't you the guy who said "Like I say, up and down, So if you need to move some US over to your Cdn, move only what you need and leave the rest in your US account.... and wait." - Why would you give this advice if you are so unsure.

Bottom line is, unless you play the markets and know what you are doing, the best long term strategy is to dollar cost average your money by moving your money over on a regular basis.

CDSmith · 03-08-2003, 10:14 AM

Quote:

Originally posted by Punk
I feel llike I'm talking to a kid here.

ditto

Monk · 03-08-2003, 10:18 AM

Sorry I hurt your feelings. Buh-bye.

CDSmith · 03-08-2003, 10:23 AM

Quote:

Originally posted by Monk
Where did I say that planning for the future is wrong? What are you talking about? How old are you? I am talking about planning for the future..... just not based on sheer hope, like you do.

You said it loud and clear in your last post. Plainly, you can't understand your own words. How can I expect you to grasp mine?

Quote:

Aren't you the guy who said "Like I say, up and down, So if you need to move some US over to your Cdn, move only what you need and leave the rest in your US account.... and wait." - Why would you give this advice if you are so unsure.

Again you misunderstand. I looked at your "30 year" numbers, and I provided you a link to a chart that covers the past 2 years. BOTH show a basic rise and fall patter. Why is it that you are so sure that the #'s will continue to go down down down? I am quite sure the state of the US dollar has a lot to do with the situation in Iraq, and I am confident that it won't last forever. I am also confident that things will take an upswing for the US dollar eventually, regardless of what the Canadian dollar does. I have little faith in the Canadian dollar's ability to continue to aquire value. Call me cynical.

How can any of that escape you? It boggles.

Quote:

Bottom line is, unless you play the markets and know what you are doing, the best long term strategy is to dollar cost average your money by moving your money over on a regular basis.

For the Nth time here..... by all means do so. Possibly in a year some of us will still be around to compare notes. I've been in the industry since late '98, and I'm in for the long haul.

You?

CDSmith · 03-08-2003, 10:24 AM

Quote:

Originally posted by Monk
Sorry I hurt your feelings. Buh-bye.

You overestimate yourself. Quite the ego.

Monk · 03-08-2003, 10:35 AM

Reality check.

That is the most whining I have seen in a thread for some time. And to boot, you didn't respond to any specifics of anything I said. You just whined that I shouldn't argue over it.

sherie · 03-08-2003, 12:01 PM

So basically I am going to be owing my employer $$ then =( pityful! I get paid at the US exchange rate of 1.57, and at the end of the year I either payback or they owe me, based on the exchange rate throughout the year. This is not looking so good for me BLAH!

On the other hand, I do have a US account and anything that I get, goes in there, shit I will leave that in there for fucking 10 years if I have to. What goes up must come down and what goes down will eventually come up! IMO

I hope that everything is resolved soon, as I do not care to take a loss regarding my income from my job *sigh*

Rich · 03-08-2003, 05:51 PM

lol, CDSmith I thought you were smart before I read this thread. "For those who can afford it", lol.

Want a suggestion? Put any money you don't need into mutual funds, stocks, bonds, whatever. Anything's better than letting it sit in a bank account. Saying that transfering USD to CAD means you're somehow losing money it insane, it makes no sense. The exchange rate is not going to get better, in fact it's projected to get worse and stay that way. If you really have a financial advisor who said keeping money in USD against the odds is a smart move, fire him immediatly.

Rich · 03-08-2003, 05:54 PM

hahahaha, I just read where you said keeping money in USD is "planning for the future", now that's priceless. Unless you have some grasp of finances you really should try to not hand out advice.

bogo · 03-08-2003, 06:15 PM

actually i agrree with cdsmith,im hangimg on to my money...remember,what goes up,must come down...

03-07-2003, 02:21 PM	#1
bogo Confirmed User Industry Role: Join Date: Jun 2002 Posts: 1,982	Canadian webmasters with U.S accounts the canadian dollar is going up,as you know,but how long will you wait to transfer u.s funds,to your canadain acct? with RBC Royal bank,it seems the rate is dropping everyday. Right now its buying u.s dollars at the rate of 1.4444,whcih was 1.5523 a few mths ago.(big difference) the big question is,will the canadian dollar go up even more than what it is?or should i wait untill the canadian dollar goes down? im losing lot of money everyweek,with the stronger canadian dollar... http://www.rbcroyalbank.com/cgi-bin/travel/fxconvert.pl

03-07-2003, 02:22 PM	#2
Dildozer Confirmed User Join Date: Jul 2002 Location: Montreal Posts: 7,519	The big diff i believe is that the US dollar is going down __________________ Spam link here

03-07-2003, 04:45 PM	#6
CDSmith Too lazy to set a custom title Industry Role: Join Date: May 2001 Location: My network is hosted at TECHIEMEDIA.net ...Wait, you meant where am I located at? Oh... okay, I'm in Winnipeg, Canada. Oops. :) Posts: 51,460	I would suggest that if you can afford it, leave your US money in your US account for now, and wait and see what happens. Markets always go up and down..... always. This downtrend of the US dollar isn't going to last forever, so wait...if you can. If you can't, then again, don't worry about it. I'm not. When I got in this biz and started depositing cheques, the US dollar was worth $1.46 Cdn, so anything above that was "gravy" to me, and we all know the exchange rate went wayyy up over the past few years. I once transfered $2500 bucks over when it was at a whopping $1.62 Cdn. That was...insane. Like I say, up and down, So if you need to move some US over to your Cdn, move only what you need and leave the rest in your US account.... and wait. __________________ *Promote Wildmatch, ImLive, Sexier.com, and more!!* ALWAYS THE HIGHEST PAYOUTS: Big Bux/ImLive SIGNUP ON NOW!!! Put some PUSSYCA$H in your pocket. ICQ me at: 31024634

03-07-2003, 10:14 PM	#11
CDSmith Too lazy to set a custom title Industry Role: Join Date: May 2001 Location: My network is hosted at TECHIEMEDIA.net ...Wait, you meant where am I located at? Oh... okay, I'm in Winnipeg, Canada. Oops. :) Posts: 51,460	Dood, for fuck sakes, do you have to argue over everything? I've talked to my investment advisor on this, and he assures me that when looking at these kinds of trends people tend to think in the here-and-now rather than the long term. As I said.... IF YOU CAN AFFORD to keep some funds back, then it's probably a good idea to do so, because things will inevitably change. Things always do, and anyone who has been around long enough to study the markets knows that. If you want to be a doomsayer that's your business. What part of "do what is best for you" didn't you quite get? __________________ *Promote Wildmatch, ImLive, Sexier.com, and more!!* ALWAYS THE HIGHEST PAYOUTS: Big Bux/ImLive SIGNUP ON NOW!!! Put some PUSSYCA$H in your pocket. ICQ me at: 31024634

03-07-2003, 10:26 PM	#14
CDSmith Too lazy to set a custom title Industry Role: Join Date: May 2001 Location: My network is hosted at TECHIEMEDIA.net ...Wait, you meant where am I located at? Oh... okay, I'm in Winnipeg, Canada. Oops. :) Posts: 51,460	Let me put it another way. The US dollar has been weakened only over the past few months, and the Cdn dollar has been getting stronger only over the past ONE month or so. However... Anyone that has RRSP's knows that those investments have been losing some money for the past YEAR now, over a whole year of steady decline. But did you automatically rush to your bank or investment guy and pull out all your RSP money? (at a massive penalty I might add). Did you? I sure as hell didn't, and I don't know anyone else that did. Why? I'll tell you why.... because banks and investment guys will tell you the same thing... that the markets go up and down over the course of months, from one year to the next, and longer. They will tell you exactly what I'm saying... IF you can afford to keep your money where it is, things will eventually improve. This war has only really been brewing hotly for a couple of months now. If you really think it's going to last for 5 years the by all means pull all your US money and change it over now. Do it, because we all know the sky is falling and it's the end of the good times as we know it, right? Right? Listen to me, don't listen to me, or find another option..... whatever. It all boils down to doing what's best for you. So go do it already. __________________ *Promote Wildmatch, ImLive, Sexier.com, and more!!* ALWAYS THE HIGHEST PAYOUTS: Big Bux/ImLive SIGNUP ON NOW!!! Put some PUSSYCA$H in your pocket. ICQ me at: 31024634 Last edited by CDSmith; 03-07-2003 at 10:28 PM..

03-07-2003, 02:23 PM	#3
Rich So Fucking Banned Join Date: Jan 2003 Posts: 11,486	Wait? If anything, it's only going to get worse. The USA was high, but it will never be that high again. It was inflated, on a bubble. Traditionally, the rate is even lower than it is right now. Don't expect it to go back up in the next decade, just be happy for the bonus us Canucks were getting the past couple years, it was nice while it lasted.

03-07-2003, 02:25 PM	#4
Rich So Fucking Banned Join Date: Jan 2003 Posts: 11,486	I didn't get any VC capital or anything, but the dot com bubble made me millions by inflating the USD.

03-07-2003, 04:50 PM	#7
xxxcam Confirmed User Join Date: Feb 2002 Posts: 401	fuck I just transfered 1.6k to canadians @ 1.44 use to be 1.55 all the time, so I just lost about $200-300 fucking sux, US dollar GO UP !!!!!!!!!!!!!

03-07-2003, 10:26 PM	#13
HS-Trixxxia Confirmed User Join Date: Mar 2002 Location: Montreal Canada Posts: 2,946	Exchange it as you need it - if you need it. It kinda works like Dollar Cost Averaging for investments. The different rates you'll get paid on the different amounts you exchange may average out to a better rate on the whole. Also, find out what the rate was for the past week and leave an order with your bank to exchange your money immediately if it reaches: ex. 1.46 and you'll hold if it's lower than 1.45. The other thing is shop around for the best exchange rate. I exchanged some tonight at 1.4515 at my bank and they seem to always pay about .0115 & .020 higher than the main Chartered Banks. Once the US decides when and if this war will take off - you may want to keep some USD to invest - after a war or depression is the best time to invest in stocks. Just my Trixxxia

03-07-2003, 10:45 PM	#16
Theo HAL 9000 Industry Role: Join Date: May 2001 Posts: 34,515	working on internet and thinking to invest in stocks doesnt sound very logical to me,unless you have reached your online plans in a level it's pretty much impossible to expand......

03-07-2003, 11:08 PM	#20
CDSmith Too lazy to set a custom title Industry Role: Join Date: May 2001 Location: My network is hosted at TECHIEMEDIA.net ...Wait, you meant where am I located at? Oh... okay, I'm in Winnipeg, Canada. Oops. :) Posts: 51,460	What reason could I possibly have for going into a big long complicated lesson about why the dollar has dropped? In the long term it really doesn't matter. What, you're insinuating that the world/US political situation has nothing to do with it? Riiight. Fuck, am I saying it wrong here? DO WHAT IS BEST FOR YOUUUU. Holy shit, I know why I'M not out having fun on a Friday night, and now I'm pretty sure I know why YOU aren't either. Dood, this doesn't have to be a prolonged debate here. __________________ *Promote Wildmatch, ImLive, Sexier.com, and more!!* ALWAYS THE HIGHEST PAYOUTS: Big Bux/ImLive SIGNUP ON NOW!!! Put some PUSSYCA$H in your pocket. ICQ me at: 31024634

03-08-2003, 02:25 AM	#25
Rich So Fucking Banned Join Date: Jan 2003 Posts: 11,486	lol, CDSmith no offense but you need a new financial advisor. The USD has been overvalued for years, it probably won't get to 1.5 again in our lifetime. Keeping money in a USD account hoping the exchange rate will eventually increase a couple percent is about that stupidiest thing you can do with your money. No offense, you're getting bad advice bro.

03-08-2003, 06:58 AM	#28
Jimmer Confirmed User Join Date: Mar 2002 Location: Waterloo Ont Posts: 878	I spend it when I get it

03-08-2003, 07:37 AM	#29
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.

03-08-2003, 08:17 AM	#32
Monk Confirmed User Join Date: Jan 2003 Location: Canada Posts: 631	Its your money... do whatever you want with it. But when you start spewing that shit on the board as advice, I will speak up. ...and if you call that shredding, you need to get out more. Consider it some friendly advice.

03-08-2003, 08:32 AM	#34
Monk Confirmed User Join Date: Jan 2003 Location: Canada Posts: 631	that link didn't work. Go here http://pacific.commerce.ubc.ca/xr/data.html and enter the US DOllar as the base currency, the Canadian dollar as the Target currency, the frequency as weekly, and the beginning date as Jan.1, 1971 and you can see the results. Yes... you are definitely an optimist if you think 1.38 is the worst downside.

03-08-2003, 09:47 AM	#39
Monk Confirmed User Join Date: Jan 2003 Location: Canada Posts: 631	"It almost feels like you are trying to discourage me from urging webmasters to think about where their money is going" Right. It is better to give just your bright-eyed, bushy-tailed view of the markets rather than present both sides... don't want them to think TOO much. "I don't understand people that take opposition to good fucking advice like this...." What makes you think it is such good fucking advice? Because some guy told you so? it strikes me that arguing with me about such points is quite retarded." Why? You cannot handle opposing views? "I don't know some of you nay-sayers, but I'd be quite surprised of so many people here were that short-sighted and narrow in their thought processes." Why do you think I am short-sighted? Because I disagree with you? I gave you a 30 year table and you come back with a 2 year chart and you call me short-sighted? Also, if you look at the 2 year chart you provided, you can see that the previous lows were taken out. As opposed to what you think.... the market doesn't just bounce around up and down, always reverting to a median point. There are things called trends, like the market bubble in the 1990's and the bust that we are in now. Currency markets are no different. "I guess we'll see what realy happens in 6 months, a year, two years. If I'm wrong then fine, no harm done, at least not where my finances are concerned. But if I'm right then I'll be happy for Canadian webmasters, period." If you are wrong... how do you figure there is no harm done to your finances? Rather than just get indignant that I disagree with you, why don't you tackle some of the stuff I posted and address why you think it doesn't apply to you or your money. I just don't understand an investment strategy that is based on 'hope'. Save the hope for other things in your life, not when it comes to managing money.

03-08-2003, 09:52 AM	#40
CDSmith Too lazy to set a custom title Industry Role: Join Date: May 2001 Location: My network is hosted at TECHIEMEDIA.net ...Wait, you meant where am I located at? Oh... okay, I'm in Winnipeg, Canada. Oops. :) Posts: 51,460	Unreal. so telling webmasters to think about planning for the future is wrong. Monk, you have fucking issues. I'm not saying my suggestions are for everyone, and no one can say with any certainty what every market will or won't do. That was never my point on my other thread, as I stated many times. It's not my point here either, so get a clue. You're being a bonehead. Why are you a bonehead?..... simple. Because the ONLY reason I've been posting about finances is to try and get people thinking about it rather than just living week to week like most people do. If that is wrong to you, then the problem lies with you, not me. Can we just agree to disagree now? I'm as tired of your shit as you are of mine, trust me on that. __________________ *Promote Wildmatch, ImLive, Sexier.com, and more!!* ALWAYS THE HIGHEST PAYOUTS: Big Bux/ImLive SIGNUP ON NOW!!! Put some PUSSYCA$H in your pocket. ICQ me at: 31024634

03-08-2003, 10:00 AM	#41
Monk Confirmed User Join Date: Jan 2003 Location: Canada Posts: 631	"so telling webmasters to think about planning for the future is wrong. " I feel llike I'm talking to a kid here. Where did I say that planning for the future is wrong? What are you talking about? How old are you? I am talking about planning for the future..... just not based on sheer hope, like you do. "I'm not saying my suggestions are for everyone, and no one can say with any certainty what every market will or won't do." Aren't you the guy who said "Like I say, up and down, So if you need to move some US over to your Cdn, move only what you need and leave the rest in your US account.... and wait." - Why would you give this advice if you are so unsure. Bottom line is, unless you play the markets and know what you are doing, the best long term strategy is to dollar cost average your money by moving your money over on a regular basis.

03-08-2003, 10:18 AM	#43
Monk Confirmed User Join Date: Jan 2003 Location: Canada Posts: 631	Sorry I hurt your feelings. Buh-bye.

03-08-2003, 10:35 AM	#46
Monk Confirmed User Join Date: Jan 2003 Location: Canada Posts: 631	Reality check. That is the most whining I have seen in a thread for some time. And to boot, you didn't respond to any specifics of anything I said. You just whined that I shouldn't argue over it.

03-08-2003, 12:01 PM	#47
sherie Confirmed User Join Date: Feb 2002 Posts: 7,020	So basically I am going to be owing my employer $$ then =( pityful! I get paid at the US exchange rate of 1.57, and at the end of the year I either payback or they owe me, based on the exchange rate throughout the year. This is not looking so good for me BLAH! On the other hand, I do have a US account and anything that I get, goes in there, shit I will leave that in there for fucking 10 years if I have to. What goes up must come down and what goes down will eventually come up! IMO I hope that everything is resolved soon, as I do not care to take a loss regarding my income from my job sigh __________________ AIM sherierocks ICQ 127-296-286 Skype traffichor

03-08-2003, 05:51 PM	#48
Rich So Fucking Banned Join Date: Jan 2003 Posts: 11,486	lol, CDSmith I thought you were smart before I read this thread. "For those who can afford it", lol. Want a suggestion? Put any money you don't need into mutual funds, stocks, bonds, whatever. Anything's better than letting it sit in a bank account. Saying that transfering USD to CAD means you're somehow losing money it insane, it makes no sense. The exchange rate is not going to get better, in fact it's projected to get worse and stay that way. If you really have a financial advisor who said keeping money in USD against the odds is a smart move, fire him immediatly.

03-08-2003, 05:54 PM	#49
Rich So Fucking Banned Join Date: Jan 2003 Posts: 11,486	hahahaha, I just read where you said keeping money in USD is "planning for the future", now that's priceless. Unless you have some grasp of finances you really should try to not hand out advice.

03-08-2003, 06:15 PM	#50
bogo Confirmed User Industry Role: Join Date: Jun 2002 Posts: 1,982	actually i agrree with cdsmith,im hangimg on to my money...remember,what goes up,must come down...