The Canadian buck slipped to 70 cents…2 years you recommended selling it at 72 cents. Should have waited ?
The Canadian buck slipped to 70 cents…2 years you recommended selling it at 72 cents. Should have waited ?
It is our multi-year continuous position that the US dollar is and will stay the world’s RESERVE currency. But the question was 2 years ago: Should I bring back my winnings now. The answer then and is now: It all depends on what actions you want to take, the purpose and what you will do with the money. I.e. :
1. Take a million US at 72 cents – 2 Years = $1,388.000 + collect 6% (GIC) = $83,250 x 2 = $166,500 + $1,388,000 = You have $1,554,000. Or
2. Leave it in US, wait 2 years $1,000,000 at 2.5% = $25,000 x2 = $50,000
Now convert $1,050,000 = 70 cents – $1,499,998.50 Canadian. That is if you were in GICs. One of our clients is still getting 8% on private capital 1st mortgage investments. 65% LTV.