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Best US Credit Card for Canadians

Many Canadians shop south of the border either online or physically. With all your transactions, there is an exchange rate applied whether you pay with a Canadian credit cards or cash. Banks will rob you if you exchange your money at their counter – be warned. I have found that VISA has a decent exchange rate but nothing beats a good Forex. When the Canadian dollar was at par with the greenback, you probably did not worry much but as the US dollar gains momentum against our Loonie, you can start to feel it. You start to include the exchange rate in your cost and compare more. With a US credit card, you can ignore the rate when you purchase and establish a different strategy where you have control. You can keep US cash around and purchase it when you feel the rate is good or you can make your lump sum payment after using your favorite foreign exchange institution. US Credit Card Options Below are 4 US Credit Cards options. From my research, that’s pretty much all your options ...
Warren Buffett

10 of The Best From The Buffett Table

Investing legend Warren Buffett is one of the greatest value investors of all time, but he is also a brilliant FX trader. Here are 10 FX nuggets from the Buffett table. 1. Buffett quote: “Risk comes from not knowing what you’re doing.” Some investors jump into FX trading looking for a quick profit. For the novice, currency trading carries increased risk due to the lack of a regulated exchange and the need to predict near-term currency movement driven by national policy. The real risk, however, is leaping without learning the ropes first. 2. Buffett quote: “When you combine ignorance and leverage, you get some pretty interesting results.” FX traders use leverage as a tool of the trade, but in ignorant hands it’s like handing a loaded gun to a toddler. Traders can trade $100,000 on a deposit of $1,000. This is heady stuff for people from the investing world and even seasoned traders who let the lure of margin get the best of their judgment. 3. Buffett habit: discipline Buffett, ...
Net Worth

Norbert Gambit with DLR

I recently executed my second Norbert Gambit trade and I am more than please with the results. I was not very impressed with my first attempt through ScotiaITrade and you can read all about it in my first Norbert Gambit review. Through RBC Direct Investing, I decided to try the Nortber Gambit again after reading about using the DLR ETF. I was able to get 1.0321 on my US dollars and the spot rate was 1.03. Obviously the rate changes all the time but that’s pretty amazing for the cost of 2 transactions. Norbert Gambit Transaction Steps As I mentioned last year, I moved away from ScotiaItrade to RBC Direct Investing and I am more than pleased with this change as I was able to execute a smooth Nortbert Gambit. Related: RBC Direct Investing Review Step 1 – Purchase DLR.U on the TSX Once I had my US currencies deposited, I initiated my transaction of DLR.U. Note that it trades on the TSX and is in US dollars unlike other stocks that are dual traded between the NYSE and TSX. A wise ...
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