Tuesday, May 27, 2008

Quick Update: Foreign Investment is Available after All

Posted by TraderMark at 6:04 PM TweetThis
Good news for any of the non US citizens; it looks like you will be able to participate after all (now that I chased them all away with my incorrect information the past 9 months)

After filling out an application like anyone else you will need to form out a US tax form

IRS W-8

And then your investment will come via wire or if you have access to this, you can use a US Dollar check

Everything else should be the same as a US citizen from there.

I'll update our frequently asked questions to reflect this.

Posted by TraderMark at 6:04 PM Comments (7) | Edit This Post | Create A New Post

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7 comments:

piazzi said...

so,

now that Canadians can give ypu money (an why not, by the time you fund is up US doallr awould be 10 to 1 Canadian, just kidding, just kiddindg)

how do we pledge?

May 27, 2008 7:23 PM  
TraderMark said...

Actually it is any country, not just Canada but yes their loonie kicks the US peso's behind nowadays.

Same as anyone else, you can add a comment to the bottom of this entry

http://tinyurl.com/3oshgx

or just drop me an email with amount and country

May 27, 2008 7:32 PM  
Richard said...

After what you have been writing about the financial situation of the USA, do you think any of your foreign readers are in a hurry to invest in a US dollar fund? What is the chance of outperforming a Euro savings account?

May 27, 2008 7:56 PM  
piazzi said...

do you think a steady stream of small investments in KOL and TAN will be a successful investment?

May 27, 2008 8:26 PM  
piazzi said...

richard, I think if US bucky tanks, that would make US businesses cheap to own for foreigners, a good money manager can take advantage of the situation,

May 27, 2008 8:28 PM  
Risk Manager Jeff said...

Richard,

Mark's positions are levered to global growth. While it's denominated in US currency, alot of the business is done outside. So yes, most of these positions are in fact, weak dollar plays. They just get translated back into US dollars.

Mark, I think for the pleasure of your continued research, I'll start with the free cash I have lying around. 15K CAD, but I'm sure I can do better in the future. (I'll give you anotehr update later on, as needed) We have alot of similar positions, and alot of times, I think my own account is a leveraged version of yours. So what I am diversifying against, is my own occational stupidity and irrational behaviour.

I would like to be able to hold some in my RRSP (canadian retirement version of the 401k) Would that be able to work?

May 27, 2008 11:54 PM  
TraderMark said...

richard,

First I am what is considered an outlier position; my negativity is not shared by most, as you can see by the constant adoration and calls for recovery every time the economy or market dips even slightly. So I could be 100% wrong. That would be bullish for the dollar.

Second if I am correct, then you have to ask can the US go into recession and the rest of the world skate by? Somehow I doubt it. I already think most of W Europe is slowing severely, with Spain and UK and Ireland also in housing bubbles and UK in particular a small version of US - indebted consumer, finance based economy, etc. So one could say the US is much farther along and on RELATIVE strength the pound could fall a lot versus the US since its held up so well.

Third as Euro holds up it will act as a natural drag to export economy of the euro zone - already Airbus raised massive fuss over this versus advantages Boeing has from US peso and the G7 was very concerned about such things as well. They WANT their currency to weaken since it is so strong versus the US.

Next a weak US dollar would allow foreign investors to come in and snap US companies up - I called for this to happen in 2008 as one of my predictions; so far it has not but still think it will and into 2009.

So there are a lot of scenarios I suppose, but yes on a PURE currency standard it has been hard for foreign investors to make money in US since their currencies are always appreciating versus dollar - so they can gain 10% on their investment but give back 6% due to currency. While I think the US is in long secular decline on the dollar, what I think matters little; what the markets thing is what matters.

piazzi,
If you don't know the individual companies I think both those ETFs are actually quite good, and the right sectors for the long haul. However, a steady stream of small investments in Rising Tide Growth is of course the best action ;)

Jeff, I have no idea about the Canadian retirement situation. It depends on how you guys are structured up there. If you have an umbrella in which you can stuff things into, than maybe. If however you expect to be able to register on the application for Canadian retirement there is no such thing. A typical account form will look like this.

http://tinyurl.com/4e6hey

Obviously it is not catered to any country or retirement plan in another country. So you'd have to figure that out on your end - i.e. within my retirement umbrella can I stuff a US mutual fund inside it.

May 28, 2008 9:35 AM  

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