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27190537 No.27190537 [Reply] [Original]

Is the loonie conversion too much for Canadians to buy american stocks like GME or american index funds like VOO/VTI?

>> No.27190907

>conversion
You can get almost feeless spot conversion these days. Unless you're talking about hedging, currency conversion should make no difference in your investment decision making.

>> No.27191321

>>27190907
Are you a leafbro? don't most places charge 2.5% for conversion fees when buying US stock or US index funds?

what index fund would you recommend to a canadian?

>> No.27192488

>>27190907
also, what app do you use?

>> No.27192526

>>27191321
I use questrade, there was a 2% conversion fee, I basically just converted a bunch of CAD to usd at once to invest in various US stocks. It's worth it unless you pick shitty stocks

>> No.27192777

depends what and where you're holding it
there's stuff regarding american dividends getting taxed in a tfsa but not in a rrsp
current state of canadian dollar is pretty low, you're best off buying foreign assets when demand for commodities means that cad is higher

>> No.27193209
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27193209

Get out of Canadian dollar denominated assets

https://youtu.be/7o8JfFbvfD8?t=1681

>> No.27193837

>>27190537
If you are buying index funds it's probably better, but if you spot pick it's definitely worth changing to USD imo. TSX stocks are relatively poor performers

>> No.27194162
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27194162

The cuck Trudeau pretty much emptied our gold reserves. Our dollar is barely backed by anything.

>> No.27194507

>>27190537
look up Norbert's Gambit

any dual listed stock you can buy in CAD, call broker and ask to journal shares to USD. Takes 3 days but no FX fee.
No FX fee.

You can use DLR/DLR.U (Horizons US Dollar Currency ETF) if you don't want to worry about stock exposure during the journaling time.

I usually use a dual-listed bank or telco or shopify if looks cheap and hope if goes up during this time.

Also, you can participate in BB gamble entirely on CAD side.

>> No.27194609

>>27194507
or Newmont Gold, seems cheap right now

TSX: NGT
NYSE: NEM

>> No.27194672

>>27194162
> Our dollar is barely backed by anything
Close, it's backed by nothing.

>> No.27194916
File: 37 KB, 788x519, xaw.png [View same] [iqdb] [saucenao] [google]
27194916

>>27193209
you can buy XAW in CAD to hedge this

>> No.27195108

CAD dropped 20% in 2/3 weeks during the 2007/08 black swan, so yea whoever pointed that bit about hedging is right. don't use CAD to back a margin account if you're expecting downside, DXY almost always moons during a crisis

>> No.27195114

>>27193209
how do I get out of canadian dollar denominated assets?

>> No.27195394

>>27192526
what if you don't want to pick individual stocks and want to invest in index funds? what should you do then?

>> No.27195398

>>27194916
Interesting idea, I'm not going to pretend to understand the global bond market so I won't be buying it but looks useful.

>> No.27195559

>>27193837
>If you are buying index funds it's probably better,
whats better? Canadian index funds are better than american index funds?

>> No.27195589

i just buy XEQT, or you can do the XAW, VCN and if you want some ZAG

>> No.27195757
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27195757

>>27195394
If you are just going to hold only ETFs, there's no reason for you to convert to USD except for RRSP so you can skip witholding tax. Just stick to ishares.

Ex, you can buy TSE:XSP to track S&P500 index in CAD.

> https://topforeignstocks.com/etf-lists/the-complete-list-of-ishares-etfs-trading-on-the-toronto-stock-exchange/

>> No.27196165

So, after I get my gains from GME and AMC, I am thinking of setting aside a portion for silver. But I will do it after I convert it straight to USD. I may have a small portfolio, but I think the time to cash in before the crash is now.

>> No.27197496

>>27195559
No just buy a US index fund traded on the TSX like vfv. The only reason to buy the corresponding index fund in the US market is because you think CAD will weaken in the future