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Hollywoodaction
Joined: 02 Jul 2004
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 Posted: Mon Oct 09, 2006 10:12 pm Post subject: |
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| Wangja wrote: |
| BJWD wrote: |
Just wait a few days/weeks and then look at the graphs. There will be a decline but the question is how much and for how long.
And if it wasn't a nuke, than expect the markets to return to normal a few days after confirmation of this. |
You fancy shorting the KRW? |
Apparently so. By the way, Kospi and Kosdaq are on the upswing, not that I was about to jump out the window. Stocks had already been losing a bit of value in the last couple of weeks. I think the test is actually going to be good for my portfolio because bargain hunters are going to drive up the prices back up to what they were last month. |
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Juregen
Joined: 30 May 2006
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| Posted: Mon Oct 09, 2006 10:28 pm Post subject: |
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| Milwaukiedave wrote: |
Emptying your account and buying dollars is a real mistake. The only thing your going to do by doing that is drive the exchange rate up.
Stupid, stupid, stupid |
shhhhhtt
don't tell
sell your dollars by the won, give it a week or 4 and you got a 10 percent profit
ofcourse this is all under the assumption that the North is up to it's usual tricks. |
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thepeel
Joined: 08 Aug 2004
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| Posted: Mon Oct 09, 2006 10:39 pm Post subject: |
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You think the won is going to increase in value by 10%? As I understand it, the won lost 1.4% yesterday, of which most was gained back. This is FXtraders manipulating the situation. Over the medium-run, I certainly don't see a 10% gain in the won. At the very best it will stay stable. At the very worst it will become unhinged.
If you value stability in your savings, you will sell today. The calm after the first storm and before the next. If you don't sell the best outcome is no change and the worst is a steep decline in your net-worth (or am I missing something). Why be smug about your financial security?
And why oh why would you keep anything more than what you need month-to-month in a nation who has the potential to slap capital controls with xenophobic fever. You ever wonder why you can't send more than 10g home w/o some fun and games? But the Koreans can send tens upon tens to their kids and families abroad? Your money should not be in Korea if you are a foreigner. If you are holding currency and not investments a "basket of currencies" is your best bet. Spread the risk. |
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Wangja
Joined: 17 May 2004
Location: Seoul, Yongsan
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| Posted: Mon Oct 09, 2006 10:48 pm Post subject: |
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| BJWD wrote: |
| ..... Your money should not be in Korea if you are a foreigner. If you are holding currency and not investments a "basket of currencies" is your best bet. Spread the risk. |
I don't often agree with you BJWD but that's sound practical advice.
Keep it up!  |
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thepeel
Joined: 08 Aug 2004
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| Posted: Mon Oct 09, 2006 10:52 pm Post subject: |
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Thanks.
Actually, I'm just ripping off the words of my prof. I've just started a MSc in Economics (monetary policy is my research focus and a career in investments my goal via the CFA designation. Tho I may suck as a cultural commentator at least I'll be good at my job!) |
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Gardimus
Joined: 23 Feb 2006
Location: Formerly Ontario, Canada
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| Posted: Mon Oct 09, 2006 11:40 pm Post subject: |
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| This is so annoying. I have 4 weeks left in my contract. Hopefully some real news will occur that will take the focus off the non-issue of North Korea testing bombs everybody knew they had already. |
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jaganath69
Joined: 17 Jul 2003
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| Posted: Tue Oct 10, 2006 1:09 am Post subject: |
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Turned my meager savings into greenbacks today, just incase.  |
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semphoon
Joined: 18 Nov 2005
Location: Where Nowon is
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| Posted: Tue Oct 10, 2006 6:21 am Post subject: |
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I transferred all my money last Friday and I am flying out of here tomorrow at 8 pm....before the whole sh*thouse goes up in flames.
Only joking, ill be back here in January.
Anyone know how much of a depreciation there has been in the Won compared to the Dollar since Friday? |
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huffdaddy
Joined: 25 Nov 2005
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| Posted: Tue Oct 10, 2006 7:03 am Post subject: |
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| semphoon wrote: |
Anyone know how much of a depreciation there has been in the Won compared to the Dollar since Friday? |
A bit over 1%. It was around 948/USD. Now it's around 960/USD. Not a big deal. |
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Richard Krainium
Joined: 12 Jan 2006
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| Posted: Tue Oct 10, 2006 7:07 am Post subject: |
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| huffdaddy wrote: |
| semphoon wrote: |
Anyone know how much of a depreciation there has been in the Won compared to the Dollar since Friday? |
A bit over 1%. It was around 948/USD. Now it's around 960/USD. Not a big deal. |
Correct!
There's been lot's of bigger fluctuations for whatever reason. |
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thepeel
Joined: 08 Aug 2004
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| Posted: Tue Oct 10, 2006 7:09 am Post subject: |
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| huffdaddy wrote: |
| semphoon wrote: |
Anyone know how much of a depreciation there has been in the Won compared to the Dollar since Friday? |
A bit over 1%. It was around 948/USD. Now it's around 960/USD. Not a big deal. |
It is not a big deal if you have a few thou in the bank. For the worlds 12th largest economy, it is a very big deal. That 1% can cause quite a bit of problems. 1% of a trillion dollar economy is a crapload of money.
I think the markets are on 'wait and see' footing. The suspicion that it may not have been a nuke has likely helped the situation. |
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huffdaddy
Joined: 25 Nov 2005
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| Posted: Tue Oct 10, 2006 3:20 pm Post subject: |
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| BJWD wrote: |
| huffdaddy wrote: |
| semphoon wrote: |
Anyone know how much of a depreciation there has been in the Won compared to the Dollar since Friday? |
A bit over 1%. It was around 948/USD. Now it's around 960/USD. Not a big deal. |
It is not a big deal if you have a few thou in the bank. For the worlds 12th largest economy, it is a very big deal. That 1% can cause quite a bit of problems. 1% of a trillion dollar economy is a crapload of money. |
Oh please. A 1% move is nothing to get worked up about. Especially considering that the won is still pretty close to its post-meltdown high (using USD/Won). Not to mention the fact that a weaker won benefits Korean exporters. |
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Thunndarr
Joined: 30 Sep 2003
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| Posted: Tue Oct 10, 2006 4:35 pm Post subject: |
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| huffdaddy wrote: |
| BJWD wrote: |
| huffdaddy wrote: |
| semphoon wrote: |
Anyone know how much of a depreciation there has been in the Won compared to the Dollar since Friday? |
A bit over 1%. It was around 948/USD. Now it's around 960/USD. Not a big deal. |
It is not a big deal if you have a few thou in the bank. For the worlds 12th largest economy, it is a very big deal. That 1% can cause quite a bit of problems. 1% of a trillion dollar economy is a crapload of money. |
Oh please. A 1% move is nothing to get worked up about. Especially considering that the won is still pretty close to its post-meltdown high (using USD/Won). Not to mention the fact that a weaker won benefits Korean exporters. |
Can't forget about the forthcoming (hopefully) easing of the controls on the yuan, which should strengthen the won as well. |
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Hollywoodaction
Joined: 02 Jul 2004
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| Posted: Tue Oct 10, 2006 6:23 pm Post subject: |
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| huffdaddy wrote: |
| BJWD wrote: |
| huffdaddy wrote: |
| semphoon wrote: |
Anyone know how much of a depreciation there has been in the Won compared to the Dollar since Friday? |
A bit over 1%. It was around 948/USD. Now it's around 960/USD. Not a big deal. |
It is not a big deal if you have a few thou in the bank. For the worlds 12th largest economy, it is a very big deal. That 1% can cause quite a bit of problems. 1% of a trillion dollar economy is a crapload of money. |
Oh please. A 1% move is nothing to get worked up about. Especially considering that the won is still pretty close to its post-meltdown high (using USD/Won). Not to mention the fact that a weaker won benefits Korean exporters. |
Bingo!
Kosdaq is climbing, slowly but surely. |
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jinju
Joined: 22 Jan 2006
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| Posted: Tue Oct 10, 2006 6:29 pm Post subject: |
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| BJWD wrote: |
| huffdaddy wrote: |
| semphoon wrote: |
Anyone know how much of a depreciation there has been in the Won compared to the Dollar since Friday? |
A bit over 1%. It was around 948/USD. Now it's around 960/USD. Not a big deal. |
It is not a big deal if you have a few thou in the bank. For the worlds 12th largest economy, it is a very big deal. That 1% can cause quite a bit of problems. 1% of a trillion dollar economy is a crapload of money.
I think the markets are on 'wait and see' footing. The suspicion that it may not have been a nuke has likely helped the situation. |
Holy shit man, you are an idiot. Isnt there a thread about hockey or something intellectually less challenging for you to get involved in? You seem out of your depth here. |
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