where to find info about investment for Canadians?

[Blane]

From overseas...

Is there a discussion forum or website (besides the globe and mail) that is informative? I'm just trying to answer a few specific questions for myself but google is totally stumping me.

Anyone here with good knowledge in this area?

[Ol'Hickster]

I find Investments a triky topic to find becuase articals writen are either biast or spu rof the moment I would suggest acctually taking time to talk to a good banker on the internation market( perhaps friend or people you know or even schedualling a appointment) but myself I try to read the recent news and try to find trends in the media

[bradm]

Do you do (any of) your banking at a Canadian bank? Seeing if you can talk to one of the bank's personal reps might work. (I don't know of any message boards for Canadian investing.)

Aloha,

Brad

[Blane]

thanks. yeah I have a bank that I deal with in canada, however I find banks tend to have a "tunnel vision" toward the services and products that they offer. So the question, "is it possible to do X with my money", is immediately interpreted as "how can I do X (or Y, or Z, as alternatives) with my money HERE". I've also looked online with my bank and can't find the info I'm looking for.

Guess I'm not going to have much luck. I'll have to wait a few weeks and try to find someone in Montreal. It's a shame because I like to go to talk to people like this having some background info already in my mind.

[AD]

Sounds like a question for a more academic or government type. Do you know anyone who deals with finance in those roles?

[Ol'Hickster]

Okay here what I have to think on that and this is what im keeping a eye on, What do americans want liek crazy and what do we take for granite??? Il tell you the Canadian Pharmasuitical( or how ever you spell it) company, Canada has some of the highest standards around, so you know all of our pharma' products are good and trust full so if or when the Candaian Pharmasuiticals go public and international trade someone invested in my mind whould make a killing even with CDN dollar at par!

[AD]

So the answer is to invest in pharmasuiticals.

[Blane]

Sadly I basically know people who spend money and people who owe money, and maybe a couple of people who save some money, and that's the extent of my finance-savvy network. (note: study in education faculties your whole adult life and you'll never meet someone with cash in the bank).

Basically I'm wondering if a Canadian can put money directly into a US investment on their own, or if they're limited to going through the Canadian institutions (which operate in canadian dollars). I"ve got a bit of money I don't need to use right just now, and I was thinking, hey this dollar parity thing isn't likely to last (at least in my mind), why not get some US cash and drop it into something secure there for the short term, then pull it out when the US dollar is stronger (or the CAD weaker) and I need the money? However, such ideas are never quite as simple as they seem. Something tells me the taxman would have a thing or two to say about my hair-brained idea, so that's what I'm trying to understand.

[Ol'Hickster]

I think it is a sweel Idea but as for the for the parity of the dolar just wait to see casue the majority of people who see it, they see the candaian dollar growing, butI personally see it as the US dollar falling, perhaps a small resession in the nest 5 years?

[AD]

I don't know any, but there are plenty of independent financial advisers and tax planners out there that would love to help (for a percentage, no doubt).

[Ol'Hickster]

There are always advisors, that will ehp thast for sure it is a good idea, But just becareful thats all

[bradm]

I think there are Canadian banks which offer accounts in US$ (e.g., to be used by snowbirds or people who do a lot of living in the USA). Most Canadian investment institutions also offer mutual funds that deal in US securities (stocks of bonds).

As to the taxman, check at

http://www.cra-arc.gc.ca/menu-e.html

and, in particular, you might want to look at the 2006 guide on capital gains'; there are also rules on foreign interest and dividends.

In my opinion, while it might be worthwhile to get some US$ now to be used in the USA in the near future, I wouldn't make using the US$ vs. the Canadian $ as a part of my investment strategy. If you have a good investment base (including debt minimization, housing, emergency fund, retirement savings, other investments, etc.), great, play with a small amount of it, but focus on the basics first.

The standard intro guide to Canadian personal finance is The Wealthy Barber; I bought a copy years ago (when I started working full-time), and it's a great, easily readable intro to finance.

Aloha,

Brad

Edited October 2, 2007 by Guest

[Ol'Hickster]

Dont get me wrong I will be getting my bit of US DLR in the Bank just because of the almost parity BUT I do thin the Us will fall more so if at not a litte bit so I wont be "All In" for my bets

[Blane]

thanks for all the links there brad.

Indeed this isn't what I'm planning on sinking my life savings into or anything, just some money that i wanted to set aside medium-term (like 2 years) but I'll probably need after that. I was just looking at some of these "high yield" type US dollar accounts (a la ING-direct) and maybe that's the easiest way to deal with it. You can get almost 5% return wiht them, so if the US dollar gets much stronger over the course of 2 years (which I'm hedging it will once they get fuckwad out of office), then tack that change onto the rate of return. If it gets a bit weaker, it'll probably be offset by the interest accrued, and basically I'll have just set money aside with nothing gained. If the USD crashes, then I was an idiot and shoulda just bought a sofa or something.

Ah well... just some late night contemplation.

Thanks folks!