#1
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1/3rd of my net worth is in yuan. wtf do i do?
ok, i'm not a baller like a lot of you, my net worth is only 200k. catch is that 70k of that is in chinese yuan.
now after scanning a little bit on this forum it seems like that is not really a horrible problem to have, some people want to get their hands on these. but is this a little bit too much exposure? should i just leave it to sit for a couple years? i need some advice. i'm not totally worried about it but not all that thrilled. |
#2
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Re: 1/3rd of my net worth is in yuan. wtf do i do?
I wish I had as much money as you. [img]/images/graemlins/mad.gif[/img]
Ask yourself, "at what point would I be comfortable." And that is your answer. I can't say that it is a bad thing to have that money as yuan, but you also need to be comfortable with it. |
#3
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Re: 1/3rd of my net worth is in yuan. wtf do i do?
OK well I would be comfortable if I thought that I don't have too much of one thing.
But on the other hand, long-term the yuan's kinda can't miss isn't it? They can't keep it at this level forever, can they? So ya I guess I DO want to hold some and I guess then the question would be what % would be prudent, maybe I can hedge easily with my IB acct (but I really don't know how, that sounds cool though and I've seen people talking about this) |
#4
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Re: 1/3rd of my net worth is in yuan. wtf do i do?
Read the threads on the dollar and other related things. I'm relatively new to the whole thing and am trying to teach myself everything. I'm an Economics major, but I really don't know too much real world stuff. I can usually guess, but that only gets me so far.
I'm not one to give financial advice, but I try to help. I try to give my opinions and see what others say. I never made any money with poker so I'm basically working on something else. Poker just wasn't my thing. |
#5
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Re: 1/3rd of my net worth is in yuan. wtf do i do?
[ QUOTE ]
1/3rd of my net worth is in yuan. wtf do i do? [/ QUOTE ] Probably a dance? |
#6
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Re: 1/3rd of my net worth is in yuan. wtf do i do?
[ QUOTE ]
1/3rd of my net worth is in yuan [/ QUOTE ] 1. Where did you acquire 70K worth of Yuan? (assuming you're not Chinese/live in China...) 2. Why did you acquire 70K worth of Yuan? 3. What were your objectives for this purchase? 4. What are your criteria for selling the Yuan? Also, things like age, timeframe, core portfolio etc, and other FSA crap need to be addressed, but I'm more interested in the 4 questions above. |
#7
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Re: 1/3rd of my net worth is in yuan. wtf do i do?
Sell it to me
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#8
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Re: 1/3rd of my net worth is in yuan. wtf do i do?
what do you mean fsa?
i got them from idi the nigerian and a dude that looks like one of the bad guys from temple of doom age is 26, timeframe is long long time im seriously in no rush, core portfolio is mostly us stocks. wait no totally us stocks. maybe some foreign fund stuff in my 401k i forget. after reading up some more i really think i might just leave it in yuan and check up on it in 4 or 5 years. it doesn't seem like at the moment that it's that huge of a risk to the downside (famous last words i know.) |
#9
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Re: 1/3rd of my net worth is in yuan. wtf do i do?
The Yuan is currently under-valued. About 99% of us can agree on that. The problem is, there is no guarantee that China will (or ever will) increase the value of the Yuan. You are completely at the mercy of the Chinese government here.
We can pretty much all agree that the yuan is going to go up in value. But how much, and how fast the Chinese government allows it appreciate is up in the air. If it traded freely on the markets today, it would be a great buy at current prices. Unfortunately, there is no guarantee that it will go up faster than other investment opportunites that are out there. |
#10
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Re: 1/3rd of my net worth is in yuan. wtf do i do?
[ QUOTE ]
i got them from idi the nigerian and a dude that looks like one of the bad guys from temple of doom [/ QUOTE ] You mean the bloke in your avatar? |
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