Do you think the Dong is really a good investment?
First of all, in my opinion, I don't think so. Do you really think after over 33 years since the fall of Saigon the Dong has appreciated much? What makes anyone think that is going to change any time soon? If you are close to retirement age, betting on Vietnam's currency is not a good choice since you may be dead before seeing a return.
Secondly, we forget that Vietnam is a communist country. Investing in it's currency is like investing in it's government, after all, the central bank is controlled by them. I'm not here to discuss politics, however, one must be socially responsible when investing. I may be biased since I'm a Vietnamese refugee, but it's like having someone you love die from lung cancer, yet you go out and buy stocks in a cigarette company.
Your best bet in Vietnam is investing in it's infrastructure and public stocks. The growth in those mediums has far outpaced the currency tenfold. If you research carefully you can find little known Vietnamese stocks traded on the U.S. exchanges.
redskies
The other solutions to stop
That's hyperinflation at work. It's not a pretty sight. Post-WWI Germany is the classic example. At one point, prices were doubling twice a day, people were getting paid twice a day and would hand their pay to their wife or kids so they could buy food before prices went up again. The German government ended up printing 100 Billion Mark notes. That only ended when they issued 'new' Marks, replacing the old ones (but, of course, still paid reparations in the old currency). The other solutions to stop or prevent it is to freeze prices or convert to a stable foreign currency (usually US Dollars). In any case, your investment ends up as a novelty item (I've got a 100M Mark note I bought for 1 Mark).
yes a good investment to start and save for your kids
Quote:
Originally Posted by
redskies
First of all, in my opinion, I don't think so. Do you really think after over 33 years since the fall of Saigon the Dong has appreciated much? What makes anyone think that is going to change any time soon? If you are close to retirement age, betting on Vietnam's currency is not a good choice since you may be dead before seeing a return.
Secondly, we forget that Vietnam is a communist country. Investing in it's currency is like investing in it's government, after all, the central bank is controlled by them. I'm not here to discuss politics, however, one must be socially responsible when investing. I may be biased since I'm a Vietnamese refugee, but it's like having someone you love die from lung cancer, yet you go out and buy stocks in a cigarette company.
Your best bet in Vietnam is investing in it's infrastructure and public stocks. The growth in those mediums has far outpaced the currency tenfold. If you research carefully you can find little known Vietnamese stocks traded on the U.S. exchanges.
redskies
I personally have some dong and feel it my be more valuable when vincent my son gets out of college.. or possible when he become a man at age 30 .. i know i bought some last year when i purchase my son nike kleats for baseball as he is a firstbaseman and the (nikes were made right there in vietnam) so that night i had talked to my brother who is currently living siapan in the pacific he said the cannon cameras was being made the also many computers ..so if your like me teaching your kids today these things now he will make good choices in the future with some viable investment smarts...... i feel it will have good returns but not for a long time out... better to have some incase were wrong its just that simple for the price heck anyone can afford some dong put it away for a rainy day.....................................musclesjw