EURO

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Cruc
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EURO

Postby Cruc » Fri Nov 11, 2016 11:12 am

Well the Pound has increased against the Euro by 4 cents overnight. Must be a Trump thing. :mrgreen: :mrgreen: :lol: :lol:
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Cruc

filippos
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Re: EURO

Postby filippos » Fri Nov 11, 2016 11:51 am

Well, the dollar "plunged" when the result came out and if reports are to be believed the EU went into panic mode, fearing that Trump will favour trade talks with the UK rather than the EU. That might go some way to explaining why the Euro/Dollar rate didn't change as much as the Dollar/GBP. i.e. when the dollar went down the markets reckoned that the UK economy would perform better than the EU's added to the political uncertainty.

Odious character he may be but Trump must have something to have risen from being a crofter's grandson to billionaire. If he's "sailed close to the wind" or even crossed the line of legality I don't know. If he has I wouldn't condone it but he's been smart enough to get away with it.

ScotinCrete
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Re: EURO

Postby ScotinCrete » Fri Nov 11, 2016 7:06 pm

The something might have been the million or so loan from his father and the many more millions from his fathers estate?
You are right though that being odious is not necessarily a negative in top business 'leaders' [in my experience] and I would guess this is no different in politics.
They usually at least try and hide it though :?

Kilkis
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Re: EURO

Postby Kilkis » Fri Nov 11, 2016 7:25 pm

Exactly how much of a billionaire he is is open to debate. I think that most of his financial assets have been bought with debt. He always quotes what his assets are worth but never mentions his liabilities. When I was doing management training a long long time ago we were taught that the most really successful businessmen have very high and approximately equal levels of ego and empathy. While his ego is astronomical I don't see much evidence of empathy? More double glazing salesman on steroids?

Warwick

SatCure
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Re: EURO

Postby SatCure » Sun Nov 13, 2016 12:21 am

Herr Drumpf has been smart enough to take advantage of the tax and bankruptcy laws. Nothing legally wrong with that. He's a shrewd businessman. He's won a few and lost a few. He's done fairly well by buying old inner-city properties, renovating and letting the apartments

He's by no means the richest man in America but he's done better than most. Whether that qualifies him to be POTUS remains to be seen. We can only speculate. If he keeps his main promise (I doubt that he'll keep the rest) he'll concentrate his efforts inside America and stop interfering with the rest of the world. That would be one better than Hillary, who promised war with Russia.

mouche
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Re: EURO

Postby mouche » Sun Nov 13, 2016 10:56 am

Financial assets bought with debt in a bull/rising market is certainly a good and quick way to become rich. Commonly referred to as gearing effect, but then again, what do I know since I'm not reading the "correct" papers according to the self proclaimed forum guru?

No doubt he has done reasonable well, but contrary to what some people seem to think he did not exactly start his career with two empty hands but by collecting rent money from tenants being driven around town by a chauffeur driven limousine!

mouche
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Re: EURO

Postby mouche » Sun Nov 13, 2016 10:57 am

SatCure wrote:That would be one better than Hillary, who promised war with Russia.


Link?

And by the way; not even a president can declare war on his own!

Kilkis
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Re: EURO

Postby Kilkis » Sun Nov 13, 2016 5:02 pm

Yes, gearing is a wonderful thing as long as you pick a winning bet. You can win 10, 100 or 1,000 times what you would have won without gearing depending how much you leverage. Of course, when the bet loses you lose 10,100 or 1,000 times more than you can afford to pay.

My comment didn't really relate to gearing as such. If Trump owns hotels worth $2 billion outright then he is a billionaire? If he borrowed $2 billion to finance their purchase and still owes it then he isn't exactly a billionaire any more? My comment related to the fact that he judges his worth by the assets he owns but never mentions his liabilities. Perhaps he doesn't have any? Given that he has resorted to Chapter 11 bankruptcy for companies he owns 6 times and on each occasion his creditors had to settle for a fraction of the debt they were owed I am certain I wouldn't want to loan him any money.

Warwick

mouche
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Re: EURO

Postby mouche » Sun Nov 13, 2016 7:25 pm

Kilkis wrote: My comment related to the fact that he judges his worth by the assets he owns but never mentions his liabilities.


Does he?

If you buy a house in the USA for say 100.000 dollar and borrow (mortgage in a bank) say 90.000 dollar your net worth is 10.000 dollar. Lets assume the market heads south so the house is only worth 50.000 dollar how much have you then lost? Your answer is 50.000 dollar (=) and my answer is 10.000. And who's right?

Kilkis
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Re: EURO

Postby Kilkis » Sun Nov 13, 2016 8:57 pm

I didn't say anything about what he has lost, I asked the question what is he worth. Using your house example, at the point you ask the question I have an asset worth $50,000, i.e. the house, and a liability of $90,000, i.e. the mortgage. Therefore my net worth at that point in time is -$40,000. My gross worth is $50,000. What is Trump publishing? His gross worth, i.e. ignoring liabilities, or his net worth, taking account of his liabilities. The suspicion is that he is only ever publishing his gross worth, i.e. ignoring liabilities.

To return to your example, I am faced with a choice. I could walk away from the house and default on my liability. If I did that I would have lost $10,000, i.e. my original equity in the property, and have a net worth of zero. I would have stiffed the bank and they would have lost $40,000 on that particular asset. I suspect the bank wouldn't simply accept that outcome and would probably pursue me through the courts for their loss. In that case the court might well grant them a lien on a percentage of my future earnings. Since they would probably be allowed to accumulate interest on the debt at some court approved rate I could finish up paying off that debt for the rest of my life.

Warwick

SatCure
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Re: EURO

Postby SatCure » Sun Nov 13, 2016 11:55 pm

mouche wrote:
SatCure wrote:That would be one better than Hillary, who promised war with Russia.


Link?

And by the way; not even a president can declare war on his own!


I wrote "promised" not "declared". Maybe "advocated" would be a better term. But, however you look at it, it's a matter of her attitude. She wants to interfere in other countries, militarily. That's not good for world peace, which is a favourite wish of Americans.

Here's a couple of links to get you started:-
http://www.redstate.com/streiff/2015/10 ... ar-russia/
https://www.youtube.com/watch?v=k4aIIpCDsLU


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