Since the federal government isn’t going to stop printing money anytime soon I’m fairly certain that the US dollar is going to keep falling. One way to offset the falling dollar is to invest in companies in foreign countries. That way you don’t only well from the companies doing well, but you get the currency exchange bonus. If you pick companies that buy a lot from the US then you’ll see another bonus there since they will be saving money on the purchases. I know many people don’t feel very comfortable purchasing in the far off lands of China and Europe. Let’s not forget the Canadian stocks of the great white north though. You could still visit these companies on a weekend trip, a passport (or specialty license), and some heckling from the border patrol.
The Canadian Stock Exchange
The biggest Canadian stock exchange is the Toronto stock exchange or TSX. The hours of this exchange are roughly the same as the NYSE (9:30AM to 4:00PM EST) with some different holidays:
- New Year’s Day – January 1, 2010
- Family Day – February 15, 2010
- Good Friday – April 2, 2010
- Victoria Day – May 24, 2010
- Canada Day – July 1, 2010
- Civic Day – August 2, 2010
- Labour Day – September 6, 2010
- Thanksgiving Day – October 11, 2010
- Christmas Day – December 27, 2010 (in lieu of December 25)
- Boxing Day – December 28, 2010 (in lieu of December 26)
U.S. Holidays*
- Martin Luther King, Jr. Day – January 18, 2010
- Memorial Day – May 31, 2010
- Independence Day – July 5, 2010 (in lieu of July 4)
- Thanksgiving – November 25, 2010
The Canadian economy is strongly based in exports of commodities and they have some famous large banks. My Canadian stock picks will definitely fall in these two industries. One Canadian oil stock I particularly like is Canadian Oil Sands Trust. I believe the US will look to purchasing oil from non Middle East sources. While drilling in the US is ideal, we’ll look to our local neighbors first, and Canada has no political inflammatory implications with it. The oil sands have been known about for a long time it just wasn’t worth going after until oil prices shot up over the last few years.
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