Currency?
Join Date: Nov 2007
Location: hk
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Pollution food exchange rate cowboy status grog sore throat stress divorce medication
Im glad I went to virgin blue years ago now they want to make me a 777 captain .
ps I have made a fortune on property down here as well as the market.
Cheers boys and cone head
Im glad I went to virgin blue years ago now they want to make me a 777 captain .
ps I have made a fortune on property down here as well as the market.
Cheers boys and cone head
Last edited by 5bars; 2nd Mar 2008 at 21:42.
Join Date: Sep 2004
Location: Singapore
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Yeah yeah yeah.
Another Virgin Blue driver talking up his financial position.
Nothing you can do about it pal. Professionally, working for Virgin Blue, is akin to sleeping with your sister.
Another Virgin Blue driver talking up his financial position.
Nothing you can do about it pal. Professionally, working for Virgin Blue, is akin to sleeping with your sister.
Join Date: Sep 2004
Location: Singapore
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Sounds like you have made the wrong decision staying around.My advice get out now while you can,woops one problem HK dollar worth nothing stay boy,enjoy,
For example, my Australian property assets are achieving interest rates just over 3%. The unwashed masses in OZ are struggling with 8%. The cashflow differential for me is equivalent to a VB FO wage.
What tax are you paying on share gains?
One year in Hong Kong is about the same as working three to five years in Virgin Blue- depending on your financial savvy. And you slept with your sister, professionally speaking, for the priveledge.
Join Date: Oct 2006
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And then
You forgot to mention the currency risk with your 3% mortgage. If the Peg were to be removed and the HKD revalued up 10 or 20% that would set you back a bit. Or if the AUD suddenly collapses 10-20% that would sting...it fell 10% in about a week late last year - my bank was busy doing margin calls on its mortgage clients.
And it wasn't so long ago when the HIBOR was in excess of 10%. Enjoy the low interest rate now but don't try to sell it as a risk free venture. Those that have done Yen or CHF carry trades vs the Aussie could get badly stung if exchange rates go anywhere near back to historical levels. You dont think that can happen? The AUD has gone from 82 to 56c in 2 years and from 48c - 80c in 2 years. Better hope you get back in to the AUD, and those 9% interest rates, at the right time or you will be sitting on a large capital loss.
And whilst you are paying only 3% your VB buddie is effectively paying 4% if he is in the top tax bracket thanks to negative gearing on his investment property, with no currency risk. So really there isn't that much difference between them and us except we have this huge currency risk that has lowered an average CX FOs salary to below that earned by VB FOs. And for that he gets nearly half of every month off where the air is clean and there are labour laws.
When it comes to your gambling on exchange rates and interest differentials, I would ask 404 for advice - he used to play with this stuff for a living.
And it wasn't so long ago when the HIBOR was in excess of 10%. Enjoy the low interest rate now but don't try to sell it as a risk free venture. Those that have done Yen or CHF carry trades vs the Aussie could get badly stung if exchange rates go anywhere near back to historical levels. You dont think that can happen? The AUD has gone from 82 to 56c in 2 years and from 48c - 80c in 2 years. Better hope you get back in to the AUD, and those 9% interest rates, at the right time or you will be sitting on a large capital loss.
And whilst you are paying only 3% your VB buddie is effectively paying 4% if he is in the top tax bracket thanks to negative gearing on his investment property, with no currency risk. So really there isn't that much difference between them and us except we have this huge currency risk that has lowered an average CX FOs salary to below that earned by VB FOs. And for that he gets nearly half of every month off where the air is clean and there are labour laws.
When it comes to your gambling on exchange rates and interest differentials, I would ask 404 for advice - he used to play with this stuff for a living.
