gibmike
Member of DD Central
What is a cynic? A man who knows the price of everything and the value of nothing.
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Post by gibmike on Jul 9, 2016 11:25:26 GMT
OK this is my dilemma and given that this chat is "General" I thought I would try here and every financial advisor I have talked to has splinters in their behinds.
I have $XXX in USD stocks at the moment, across a wide spread of industires which have all grown on average 8% in the time I have had them. The USD at time of purchase was around $1.45 which of course has dropped to $1.29 so I have made what I consider to be a good return at the moment.
My gut instinct is to sell all my USD stocks once the rate hits or gets close to $1.25 (if it does).
Any thoughts (non professional advice always welcome).
Mike
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bigfoot12
Member of DD Central
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Post by bigfoot12 on Jul 9, 2016 15:23:32 GMT
You have to decide what you will do with the money instead. I sold some USD denominated investments last week which were a bit speculative and switched them into FTSE250. I will probably do some more of that over the next few months.
Why would you want to sell all with a 21% profit, but none with 18% profit? You have to decide why you bought those shares in the first place. I'd be looking at them now and deciding which I had changed my mind about and selling those now, and holding on to the others for longer.
You don't mention if you live in the UK, or the size of these investments, but you might want to consider capital gains tax.
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Post by Deleted on Jul 9, 2016 16:11:36 GMT
Right now I'm holding onto my US assets, not because I think the sterling fall has petered out but because 1) in the last few years no one got rich betting against the USA growing its economy 2) Chinese currency just dropped and is not a happy place to hold at the moment 3) Italian bank debt is about to tank what remains of the Italian economy doing what it can to drop the Euro just in time for my annual wine buying tour of Euro land.  4) Draghi has demonstrated a consistent incompetence year on year only matched by Junker.  5) Brexit noise is going to be part of life for the next 4 years, so you need to hedge any sterling investment in something more sensible Like bigfoot capital gains is a more serious reason for sale, but not in July (for a Brit). |
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agent69
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Post by agent69 on Jul 9, 2016 16:57:12 GMT
4) Draghi has demonstrated a consistent incompetence year on year only matched by Junker. Your initials wouldn't be NF by any chance?
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bigfoot12
Member of DD Central
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Post by bigfoot12 on Jul 9, 2016 21:22:49 GMT
After further thought: do you think that you have more US exposure than you want/need or are comfortable with? Myself I saw myself as neutral before the vote, and now that the market has moved I see that I have more in non GBP than I would like (because these investments have gone up) so I have and will continue to sell a little of these and rebalance. I think of these investments as a ten year view, but I do change my mind more often than that.
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gibmike
Member of DD Central
What is a cynic? A man who knows the price of everything and the value of nothing.
Posts: 255
Likes: 159
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Post by gibmike on Jul 12, 2016 20:50:39 GMT
Thanks for all the comments, I understand where you are coming from and I do agree that investments are long term which is the way I view things.
My portfolio at the moment is up nearly 150% of what I expected it to increase by over this year and next. As a result, I was thinking of drawing some of the profit down and waiting for the dust to settle.
I am speaking to my investment manager tomorrow morning, let me see what he suggests.
Disclaimer: I am a northerner and prone to take profits when I see them ;-).
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Post by alangcreech on Jul 22, 2016 6:03:55 GMT
this thread contains very useful information.
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gibmike
Member of DD Central
What is a cynic? A man who knows the price of everything and the value of nothing.
Posts: 255
Likes: 159
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Post by gibmike on Jul 25, 2016 16:18:13 GMT
To summise, I have decided to sit and wait.
Thanks for all the advice.
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