Glad to see all the sledging and flamming has passed re post on the US dollar a few weeks ago. Ok so the US dollar is strong and the risk is a fall, but what makes everyone so confident that it wall against the Aussie?...won't the Aussie fall with it?! I sure wish all the commentators on this list could identify themselves ie back up there statements with some qualifications....are you guy's senior economic forcasters..with one of the big banks, perhaps even one of you is secretly Ian MacFarlaine, or Alan Greenspan! Worse still who is Micheal Carmondy?For one I'll say I have NO economic background..just enjoy plodding along picking an investment here and there...done well recently with Gold, Great Southern and Orica..for once got in before the stampeed...and buy goodness even broke even on Looksmart with a LTBH strategy the other day..now there is a surprise!Love to invest in a "hedge fund" 'cause I can't think where else to stick my money..but I don't understand them...Residential realestate is about to go bust here in Melb..prices are way over the top.., Bonds are no good in a rising interest rate enviroment, Cash is useless at 3.99%, everyone says Stocks are overvalued partic in US...Gold has had a run..doesn't leave much else...anybody got any real bright ideas...investing sure is difficult in the current enviroment..Cheers AB
Glad to see all the sledging and flamming has passed re post on the US dollar a few weeks ago. Ok so the US dollar is strong and the risk is a fall, but what makes everyone so confident that it wall against the Aussie?...won't the Aussie fall with it?!ABWhy should it ?? If the Oz economy was totally dependant on the US then the dollar may fall with the US one - but the fact that only part of its economy is dependant on the US means that the Oz dollar will only be partially affected. You only have to look at the US and Oz stockmarkets to get an idea of how this works. The US is going through a massive retracement and yet the Oz market has only suffered partially through the US fall. Historically the Oz dollar has floated around the 60 cent US mark - it is only in recent times when the US economy was so buoyant that it rose against the Oz - as it did against most currencies. If the US dollar falls - and my reading of the situation says that it will - then it will probably fall to its previous benchmark against other currencies - all other things being equal of course. I sure wish all the commentators on this list could identify themselves ie back up there statements with some qualifications....are you guy's senior economic forcasters..with one of the big banks, perhaps even one of you is secretly Ian MacFarlaine, or Alan Greenspan! Worse still who is Micheal Carmondy?Not sure what you are driving at here - what use are qualifications ?? Your own judgement of the situation is probably as good as anyone elses in this volatile market. For every guru who says one thing you can find two who say another.My investing style is much like your own - I try to pick up a buck here and a buck there. Welcome to the Board.RegardsHarmy
Historically the Oz dollar has floated around the 60 cent US mark - it is only in recent times when the US economy was so buoyant that it rose against the Oz Hi HarmyI remember going to the US and changing some money in 1983. 1AUD = 1.05USD if I remember rightly at that time. The Oz dollar has lost over half its value against the US buck in less than twenty years. Its been flopping around a bit during that time but the long term trend has been down,down down. Not to say it won't go up somewhat again but if you look at the graph you would maybe bet the other way.Just my .02 worth (hope its not worth that someday!!!)Cheersdeadly
>Cash is useless at 3.99%BTW, http://www.ingdirect.com.au is offering 4.5%, no fees, no minimum balance, daily intrest on the full balance paid monthly.The only catch is all it lets you do is transfer between it and your main account on the internet and set up a direct debit facility.
Hi PCKY, Actually I am giving serious serious thought to going ith ING in the near future.. it's doing better than my current cma. I really liked the fact that the only place they can put your money is in your regular bank accounts. With the amount of Internet fraud around these days, perhaps thats a bit of added security. (I really dont have a lot of confidende in the so-called security of On-Line banking) The only thing that worries me is that that when you put your money into ING is to make the deposit out to ING. That really bothers me, as when you make out a cheque to another person or institution then technically speaking it's their money. They apparently do this to avoid the business of all the proof of identification ect that you have to go through at the bank But I just can't bring myself to do it as yet. Pays better than anyone else around at the moment though. Best regards.. FC.
Hi FC.The only time I made out a payment to ING was for the opening balance for which they didn't specify a minimum amount. I nominated $100. The authorization form for this was seperate from the other one authorizing direct debits from your main bank account.Since then I have always deposited to my CBA trading account and then transfered to ING. This incurrs some transaction fees but for reasonable amounts of cash the higher interest rate makes up for it.This is especially true in my case because my CBA CDIA trading account does not pay any interest if your balance is under $5000. The good news is CBA is now offering 15 free electronic withdrawals per month, with no monthly fee, so this setup should become essentially free.Furthermore, the ING Savings account seems to be a 'regular' bank account complete with a BSB and account number which other entities can elctronically pay into. I think they get around the identification problem by linking only to an existing Australian bank account, and not allowing you to withdraw to anywhere else.
Hello PCKY,... Thank you very much indeed--- You have just saved me some money, (quite a lot of money actually) I am with Comsec, and someone said that if I deposit $5000 into an account with them I get trades for $15, so 15 transfers free a month sounds good. Also I feel more comfortable signing over a minumim amt to open the account and just transfer the balance over as I want--- and transfer from ING to pay for the shares..easy! Now why couldn't I work that out for myself (I now ask myself) well I never said I was smart! Next week I do some reorganising of bank accounts, not before time either. Thanks again pcky, And welcome to the board also!
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |