Increasing the size of the dating pool
Well after putting it off for a while, I have officially applied for a global trading account from my broker. I plan in easing into buying stocks on foreign exchanges, starting with Canada and the Toronto exchange first (I already have a potential candidate...more on that later). I figure that there will be a much smaller learning curve for investing with our northern neighbors than there would be say in investing directly in a non-English speaking country. From there I may branch out to other English-speaking countries, such as the UK and and Australia.
I just need to make sure that's can get adequate news and information on any foreign stocks that I choose to buy. Yahoo! Finance Canada seems like a good starting place for the Canadian stocks. I started playing around with it yesterday.
Does anyone out there have any good sources for information on foreign companies. I figure that Google Alerts would work fairly well too.
As I said, I am not going to jump into this with two feet, but rather very slowly. There's still plenty of U.S. listed stocks that I'm interested in. I just figured why not expand the universe of stocks that I can potentially invest in. I liken it to dating. There no reason to date only women for your town. Dating ones from several other towns doubles or triples to pool of potential mates ;).
I know that some of two foreign stocks that I have considered buying trade OTC here in the States, but I'd rather buy them on their home exchanges when possible.
I just mailed in the application today. We'll see how long it takes. I have to wonder why one even has to mail in anything in today's digital age. I would think that there should be some way to just apply on-line. I already have six accounts with this broker already.
I'll post an update when things are ready to go.