The Doppler Value Model Portfolio purchased a 3-month Hong Kong dollar CD from Everbank on Thursday, May 15th. According to http://www.exchange-rates.org, the exchange rate was $7.9950HKD/USD. So the $10,000 USD investment was $79,950.00 HKD. The currency conversion fee was 1%, or $100 USD. The interest rate is 1% for the current term.
To conform with the terms of a CD, the CD will roll over every 3 months unless I specify otherwise. Also, any interested earned will be reinvested in the new CD. If I decide to liquidate rather than roll over the CD, I will announce that on this blog at least a week in advance. The fee for converting the CD back into US dollars or into another currency will again be 1%. Interest will be earned in Hong Kong dollars and will be credited upon maturity. As is the case with the regular cash balance, interest will accrue daily.
The current CD will mature on Friday, August 15th, 2008. Assuming that I continue rolling over the CD, the subsequent maturity dates will be:
Friday, November 14th, 2008
Friday, February 13th, 2009
Friday, May 15th, 2009
Friday, August 14th, 2009
Friday, November 13th, 2009 (Yes, that’s Friday the 13th. I hope to get away from Jason on that day, but the only way I can do that is to have an out-of-body experience. Well, I’ll just have to deal with Jason myself.)
The $10,000 USD used to purchase the Hong Kong Dollar CD and the $100 USD currency conversion fee bring down the cash balance from $71,736.58 USD to $61,636.58 USD. The Doppler Value Model Portfolio now consists of:
$61,636.58 USD cash
$79,950.00 HKD Everbank CD
2 shares of Berkshire Hathaway Class B
222 shares of DFJ
103 shares of FXY
May 19, 2008 at 9:00 pm |
Nice writing. You are on my RSS reader now so I can read more from you down the road.
Allen Taylor
June 21, 2008 at 5:19 pm |
Somehow i missed the point. Probably lost in translation
Anyway … nice blog to visit.
cheers, Hardscrabble!!!!
August 8, 2008 at 12:40 pm |
Wow, you played that perfectly!
Since May 19th. DFJ down, FXY down, HKD down… let me know what you’re doing next so I can short!
Your investment methods are interesting, but far too naive and complex to actually work. Go get Tharp’s book and read it. Go get O’Neils book and read it. Better yet, keep your money in CD’s till you understand both of those books.