NationStates Jolt Archive

I'm thinking about converting $1400 Canadian dollars into American dollars, because at today's rate, if the CAD->USD rate drops below .70 again, I'd make an easy $300 bucks on the conversion back. But, I'm only 17 and a newbie at any kind of investing. I also freely admit that most of the people on here are wiser than I, so, those of you who have any knowedge on the subject, any help?

I'm thinking about converting $1400 Canadian dollars into American dollars, because at today's rate, if the CAD->USD rate drops below .70 again, I'd make an easy $300 bucks on the conversion back. But, I'm only 17 and a newbie at any kind of investing. I also freely admit that most of the people on here are wiser than I, so, those of you who have any knowedge on the subject, any help?

Buy an Xbox 360, a whole shitload of beer, and try to beat Call of duty 2.

Ahahaha, no.

I'm thinking about converting $1400 Canadian dollars into American dollars, because at today's rate, if the CAD->USD rate drops below .70 again, I'd make an easy $300 bucks on the conversion back. But, I'm only 17 and a newbie at any kind of investing. I also freely admit that most of the people on here are wiser than I, so, those of you who have any knowedge on the subject, any help?
Nah, you'll never make money because of inflation and the fact that money is never exchanged at par rates/without a fee. You'd be better off investing in a CD or some stocks.

Buy an Xbox 360, a whole shitload of beer, and try to beat Call of duty 2.
But what if I don't drink American beer? or were you not saying that pretty much anything I buy contributes to the American Dollar? because if that IS what you were saying, the point is to eventually convert BACK, and the resale value on Xboxes isn't great.

Ahahaha, no.
To be honest, I don't avoid doing things without a reason for the same reason I don't buy things I see in advertisements.

No. If you only have $1400 dollars, you shouldn't be playing the currency markets. Doubly so because fees will wipe out or diminsh gains.

Shove it in a mutual fund or something.

To be honest, I don't avoid doing things without a reason for the same reason I don't buy things I see in advertisements.
Fine, go ahead and do it, I don't really care. You asked a question, I answered. Being a smartass isn't a good way to get me to elaborate.

You could put your money in a mutual fund based on energy stocks.

Considering that we're going to probably be in a war in Iran in the next year or so, and oil prices will go sky high, you'll make as much as Exxon did in the past year.

Try getting a 45 percent return on your money or better, as I did this past year.

No. If you only have $1400 dollars, you shouldn't be playing the currency markets. Doubly so because fees will wipe out or diminsh gains.

Shove it in a mutual fund or something.
That's the best advice you'll get! Make sure the mutual fund hedges their bets considerably, and plan on keeping it in there for quite a while. If you're looking for fast money, your more likely than not to lose it all.

You could put your money in a mutual fund based on energy stocks.

Considering that we're going to probably be in a war in Iran in the next year or so, and oil prices will go sky high, you'll make as much as Exxon did in the past year.

Try getting a 45 percent return on your money or better, as I did this past year.
45%? What fund are YOU investing in? TG me! ( I have a few tips for you if your willing to share ;) )

Fine, go ahead and do it, I don't really care. You asked a question, I answered. Being a smartass isn't a good way to get me to elaborate.
But you didn't give a reason why I shouldn't. Would you accept that at face value if you were asking for advice? how do you know the person knows what he's talking about?

You could put your money in a mutual fund based on energy stocks.

Considering that we're going to probably be in a war in Iran in the next year or so, and oil prices will go sky high, you'll make as much as Exxon did in the past year.

Try getting a 45 percent return on your money or better, as I did this past year.
War profiteering?

Hehe...I don't think NS is the best place to come for financial advice :p

45%? What fund are YOU investing in? TG me! ( I have a few tips for you if your willing to share ;) )

It was a energy fund (I'll have to get the paperwork out again). John Hancock offers about 40 different mutual funds you can get into for your 401K, rated from conservative to aggressive.

I picked the most aggressive fund for half my money, and it's paid off handsomely. When Exxon makes money, I make money.

It was a energy fund (I'll have to get the paperwork out again). John Hancock offers about 40 different mutual funds you can get into for your 401K, rated from conservative to aggressive.

I picked the most aggressive fund for half my money, and it's paid off handsomely. When Exxon makes money, I make money.
I like how people call you a war profiteer. Does it bother you when they bitch about it as they walk past your first class seat on their way to coach? :p

By the way, if you're into individual stocks, THIS (http://finance.yahoo.com/q?d=t&s=PNR) one warrants some interest, in my opinion!

I'm thinking about converting $1400 Canadian dollars into American dollars, because at today's rate, if the CAD->USD rate drops below .70 again, I'd make an easy $300 bucks on the conversion back. But, I'm only 17 and a newbie at any kind of investing. I also freely admit that most of the people on here are wiser than I, so, those of you who have any knowedge on the subject, any help?


:)

Ya, play small for now, learn the ropes. After you've built your wad up a little, buy some real estate.

Wel, gotta go now, and no internet access at home, so I'll come back to this thread tomorrow. I haven't abandoned it.

But what if I don't drink American beer? or were you not saying that pretty much anything I buy contributes to the American Dollar? because if that IS what you were saying, the point is to eventually convert BACK, and the resale value on Xboxes isn't great.
I think he was saying to spend your money instead of investing it.


Also, you people have to fix your damn dollar, usually my grandparents give me $50 USD for my birthday and it's worth $75 CDN, now it's worth around $50.

War profiteering?

Got a problem with it?

I think he was saying to spend your money instead of investing it.


Also, you people have to fix your damn dollar, usually my grandparents give me $50 USD for my birthday and it's worth $75 CDN, now it's worth around $50.

How about we put the softwood lumber tariff back then? That should strengthen the USD v. CD.

War profiteering?
Nope - profiting off of the spike in gas prices after Katrina.

I like how people call you a war profiteer. Does it bother you when they bitch about it as they walk past your first class seat on their way to coach? :p

By the way, if you're into individual stocks, THIS (http://finance.yahoo.com/q?d=t&s=PNR) one warrants some interest, in my opinion!

I'm on my way to London on Wednesday night. Flying first class on British Airways. Staying in a five-star hotel in the middle of London.

If you hear that people are going to make a lot of money, why not put your money in with them? Then when you pay at the pump, you get your damn money back and then some.

If the system was truly unfair, no one would have access to such investment except the very, very rich. But one of the truths of the US is that a huge portion of the middle class now owns most of the stock in the US.

It's called "owning the means of production," for those socialists who think that capitalism is so unfair.

People in the US can, even with a small amount of money, begin to own part of that.

Give it to me. That's the best investment you could make.

I
By the way, if you're into individual stocks, THIS (http://finance.yahoo.com/q?d=t&s=PNR) one warrants some interest, in my opinion!

I had some great plays in the tech sector, especially AMD and Broadcom. They've been amazing; I bought AMD at $20 back in August and it's above $40 now...however, it's probably unwise to open a position until it pulls back for now.

Nope - profiting off of the spike in gas prices after Katrina.

God, XOM and SUN have been incredible over the past few days...not even including the run-up over the past few years; today SUN was up $4.75 and XOM was up $1.82. Plus, with the valuations so low on XOM it's possible it could hit $70 or $80.

Imagine Buying in Late 02 (http://finance.yahoo.com/q/bc?s=SUN&t=my)

The money trade only works with gargantuan sums of money

The money trade only works with gargantuan sums of money

George Soros...nothing more needs to be said.