FOREIGN EXCHANGE PURCHASE
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FOREIGN EXCHANGE PURCHASE A member has proposed buying 7-Eleven which is only available for purchase on the Japanese stock exchange. Fidelity has some mechanism for buy on foreign exchanges. Questions - any BIVIO implications? Any US Tax considerations? Thx............Jay Jay - It looks like 7-11 has an ADR under the symbol SVNDY. My understanding is purchasing it would not create problems in Bivio because it's traded like a regular stock on the US Stock Exchanges. I am not an expert so I will be interested to hear the experts answer to your question.
Andy On Sat, Aug 10, 2013 at 10:20 PM, Jay Sternin <via95135@yahoo.com> wrote: A member has proposed buying 7-Eleven which is only Andy, thx - I've checked it out and passed it on to the interested partner. One member has said the fees on the tokyo exchange are exorbitant and you need to buy 1000shares. The ADR you mentioned is only on the Pink Sheets and our bylaws don't permit that. Dear Jay, That sounds like a good decision. You'd have a hard time keeping the value of an investment denominated in a foreign currency up to date which will affect all of your club accounting. The value of your investment would also be subject to ups an downs, not only because of the success of the business, but also because of the change in value of the currency it was tracked in. There also may be special tax issues you'd need to handle. If you don't have the expertise to find out and understand what those are before you make the investment, that's probably another red flag that its not something you should be getting into. Figuring them out for you is not a service we are able to provide. As Andy mentioned, ADR's are not as problematic if your club wants to invest in those. However, even they can bring along extra club accounting headaches as noted in this recent Club Cafe thread: https://www.bivio.com/club_cafe/mail-thread?p=131308900003#b_msg_131308900003 Laurie Frederiksen
Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio Follow Us on Google+ Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe On Sun, Aug 11, 2013 at 9:14 PM, Jay Sternin <via95135@yahoo.com> wrote: Andy, thx - I've checked it out and passed it on to the |
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