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UK leaving EU, buying opportunities ?
06-24-2016, 05:56 AM
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#1
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Thinks s/he gets paid by the post
Join Date: Oct 2002
Location: Chattanooga
Posts: 3,878
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UK leaving EU, buying opportunities ?
Might be time to loosen the old purse strings and look for some deals.
__________________
Earning money is an action, saving money is a behavior, growing money takes a well diversified portfolio and the discipline to ignore market swings.
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06-24-2016, 06:19 AM
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#2
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Recycles dryer sheets
Join Date: May 2015
Posts: 114
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Definitely time to buy.
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06-24-2016, 06:31 AM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2007
Posts: 9,953
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I know a few board members, including myself have some trips to England coming up is anyone considering getting some British pounds, it was bouncing around in the 1.30 area for a time last night.
I go in November and am wondering if I should just get some pounds from my bank.
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06-24-2016, 06:36 AM
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#4
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Thinks s/he gets paid by the post
Join Date: Feb 2014
Location: Williston, FL
Posts: 3,925
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Quote:
Originally Posted by ivinsfan
I know a few board members, including myself have some trips to England coming up is anyone considering getting some British pounds, it was bouncing around in the 1.30 area for a time last night.
I go in November and am wondering if I should just get some pounds from my bank.
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Once you have the pounds, do you just put them in a mattress and hope they go up in value? Is there a transaction fee? How much is the percentage to get in and out of physical currency? It seems like you would have to buy a LOT to make up for the transaction fee(s).
Or is it better to just buy foreign currency on the stock exchanges? Or a British ETF? Or just a S&P ETF?
__________________
FIRE no later than 7/5/2016 at 56 (done), securing '16 401K match (done), getting '15 401K match (done), LTI Bonus (done), Perf bonus (done), maxing out 401K (done), picking up 1,000 hours to get another year of pension (done), July 1st benefits (vacation day, healthcare) (done), July 4th holiday. 0 days left. (done) OFFICIALLY RETIRED 7/5/2016!!
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06-24-2016, 06:48 AM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2007
Posts: 9,953
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Quote:
Originally Posted by Senator
Once you have the pounds, do you just put them in a mattress and hope they go up in value? Is there a transaction fee? How much is the percentage to get in and out of physical currency? It seems like you would have to buy a LOT to make up for the transaction fee(s).
Or is it better to just buy foreign currency on the stock exchanges? Or a British ETF? Or just a S&P ETF?
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These pounds would be spent in England...it would only be enough for personal vacation use. I usually just ATM it but was thinking around getting them from my bank.
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06-24-2016, 06:59 AM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,010
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Quote:
Originally Posted by ivinsfan
These pounds would be spent in England...it would only be enough for personal vacation use. I usually just ATM it but was thinking around getting them from my bank.
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It will cost you an additional 5 to 6%.
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Retired since summer 1999.
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06-24-2016, 07:03 AM
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#7
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Thinks s/he gets paid by the post
Join Date: Jan 2013
Posts: 3,405
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Never mind the currency, what about equities?
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06-24-2016, 07:05 AM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2007
Posts: 9,953
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Quote:
Originally Posted by audreyh1
It will cost you an additional 5 to 6%.
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I know, I wonder if it would be worth it, the pound was at a 32 year low last night. At 1.30 it would cost me around 1.37...that seems pretty reasonable and also eliminates some hassle such as ATM foul-ups, chip and pin mistakes and such.
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06-24-2016, 07:06 AM
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#9
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,010
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Quote:
Originally Posted by Another Reader
Never mind the currency, what about equities?
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Might be a good dip. Not sure it will be as good of a dip as we got at the beginning of the year though.
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Retired since summer 1999.
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06-24-2016, 08:57 AM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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We don't even know for sure whether the UK *will* leave the EU. This was a non-binding advisory vote, though it does put some pressure on Parliament. The uncertainty may produce more buying opportunities than the actual event itself would.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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06-24-2016, 09:12 AM
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#11
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Thinks s/he gets paid by the post
Join Date: May 2014
Location: Utrecht
Posts: 2,650
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Quote:
Originally Posted by audreyh1
Might be a good dip. Not sure it will be as good of a dip as we got at the beginning of the year though.
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Financial services and housing in the UK is getting a good clobbering.
Double digit drops there, up to 30% in GBP.
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06-24-2016, 09:29 AM
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#12
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Thinks s/he gets paid by the post
Join Date: Jun 2010
Posts: 2,301
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Quote:
Originally Posted by Totoro
Financial services and housing in the UK is getting a good clobbering.
Double digit drops there, up to 30% in GBP.
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I recall watching the Rob Arnott video a few weeks ago and him mentioning that UK PE values were very low with astounding expected returns (~8%). I guess the market did price some of the risk in and now it showed up.
http://www.early-retirement.org/foru...ogy-82209.html
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06-24-2016, 09:45 AM
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#13
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Thinks s/he gets paid by the post
Join Date: Jun 2014
Posts: 1,069
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Yesterday : Boy, I'm a genious for being so heavily allocated to foreign (about 45%)
This morning : Boy, I really shouldn't be so heavily invested in foreign, what am I thinking
The last hour : Oh look, there is a bit of spare cash in one of my accounts, lets buy some more foreign (VSS).
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06-24-2016, 09:47 AM
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#14
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2013
Location: Les Bois
Posts: 5,761
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Think I'll spend my cash on a UK golf trip
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You can't be a retirement plan actuary without a retirement plan, otherwise you lose all credibility...
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06-24-2016, 10:42 AM
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#15
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Recycles dryer sheets
Join Date: Jun 2014
Posts: 440
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I bought some VSS and VEA. Nothing life changing. Not super worried or excited. I think this is more hooplah than substance at this point. Of course... could be start of a bigger change which I also can't control so...
I guess onward
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06-24-2016, 10:49 AM
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#16
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Thinks s/he gets paid by the post
Join Date: Jul 2002
Posts: 1,581
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Put a few buy orders in this morn, with limits. But the sale/corrections wasn't as deep as the press noise would lead one to believe. Doubt if any will be executed today. Revisit next week
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06-24-2016, 10:57 AM
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#17
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Thinks s/he gets paid by the post
Join Date: Oct 2011
Location: Philadelphia
Posts: 1,372
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I think its a very good time to buy overseas securities if you can stomach a rocky road. European indexes got pounded in absolute terms and the dollar strengthened so your purchasing power went up. (Of course, existing holding also got spanked extra hard as well.)
I think it will be bumpy but these things are usually overdone in the near term. Of course, the next time Greece, Spain or someone else wobbles there will be completely hyperventilating that the EU/Euro is about implode.
Still, I intend to go shopping.
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Luck is when Preparation meets Opportunity.
FIRE'd 1/1/24
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06-24-2016, 11:25 AM
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#18
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,266
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I just put in an order to clean out my MM account and buy international... unfortunately not a lot of $$$$ as I rebalanced recently but I know a sale when I see one.
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If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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06-24-2016, 11:27 AM
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#19
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Posts: 12,598
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Never mind pounds; what about euros? Everything EU must be taking a hit, or about to.
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If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success – to be able to spend your life in your own way.’ Christopher Morley.
Even a blind clock finds an acorn twice a day.
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06-24-2016, 11:39 AM
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#20
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Thinks s/he gets paid by the post
Join Date: Aug 2007
Posts: 2,857
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Quote:
Originally Posted by dallas27
Yesterday : Boy, I'm a genious for being so heavily allocated to foreign (about 45%)
This morning : Boy, I really shouldn't be so heavily invested in foreign, what am I thinking
The last hour : Oh look, there is a bit of spare cash in one of my accounts, lets buy some more foreign (VSS).
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+1
I have an even split between US and International equities. I haven't done poorly, but I would have done much better if I held less international. But I know the minute I change my allocation, the US would start lagging. So I guess it's time to buy some more International.
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