peso in trouble

[Don Gringo]

Some time ago I said if we tested 2K and did not close below it we were going to move higher. Well that is what we are doing. Not sure if this is the big one or not but would not be surprised if it were the run to an eventual 4k. No I am not crazy! jaja

Live rates at 2009.06.25 13:32:54 UTC
1.00 USD = 2,206.00 COP
United States Dollars Colombia Pesos
1 USD = 2,206.00 COP 1 COP = 0.000453310 USD

[Don Gringo]

I agree kat everyone is in trouble these days. China is printing money Europe is printing money England is printing money. Well everyone but Colombia is printing money as a way out of the problem. This is why the peso has been so strong. If they can stay out of this crises that would be great!

[Don Gringo]

This housing market is so difficult to understand here for me anyway and that is from a lot of years speculating in the US market. So I really don't know but my belief is that when things zoom up 400% and more in price in just a few years that has got to be a bubble. Even though the increase in security has brought a wave of investors I have no idea how much of that is emotion and how much of it is real money. What happens if Uribe is no longer President? Who is next? I just think that the prices that exist today have priced in a perfect future and so to me I am waiting for something to happen to test the perfection. To see where the bottom might be.

It may never come but I never made any money in realestate by chasing prices. Only by buying undervalued properties in an upward moving market. I can not say this market is upward moving. I would say it is not going up and really not going down but apartments are staying on the market longer than before and more homes are on the market than before. Taking a lesson from Florida where they overbuilt to the moon and now prices are a fraction of what they were. So I am waiting and I think by waiting I will be able to buy a very nice apartment very cheap in the next 4 years.

Of course it is only speculating, no one knows the future.

[Don Gringo]

kat my advice to you though is to do what I am doing. Invest in some sort of business venture in Colombia. Take the profits that you get in pesos and save them or reinvest them in Colombia. Taking forign currency and exchanging it for pesos can be a very sickening thing to do. I am not doing it anymore, I hate doing it. I remember when I was doing it at 2900 and to do it now at 1950 just really messes with your head.

You could make an investment here and in a few years pay for the apartment with your investment if you are very careful. One thing that is true about business here if you have a good plan, have a good business model that fits in Colombia and discipline yourself to it you can make a lot of money here. In Colombia if you have money it is EASY to make money if you use your head. Having operated businesses now here and the states it is sooo much easier here to make money. You just have to watch out for the landmines that exist here. I have been studing the Colombian market for a long time now and think that helped to know what works and what does not. I can only say that this sacrificed time has paid off BIG time. It is not like the US or Europe markets. But money can be made here. Probably easier here now than in the US or Britain if your in the right thing.

[Rubito]

So, umm, what was that sound I hear the other day mmmmmm?

Would that possibly be the sound of 2000 CAVING IN LIKE A MOTHERFUCKING WATERMELON?

8)

I still say within a year or two we will see 1500.

[Don Gringo]

mmmmmmmm Live rates at 2009.08.10 15:29:54 UTC
1.00 USD = 2,022.50 COP
United States Dollars Colombia Pesos
1 USD = 2,022.50 COP 1 COP = 0.000494439 USD


JAJA

This is not good for me 1500 is good for me on one side but I doubt we see that. We could not get below 1900 and really could not make any gains below 2k so what that measn is that buyers are exhausted. Look for a run to 2300. Shit.

[Don Gringo]

Live rates at 2009.08.11 16:33:54 UTC
1.00 USD = 2,051.00 COP
United States Dollars Colombia Pesos
1 USD = 2,051.00 COP 1 COP = 0.000487567 USD
it is cookin up a little storm here looks like. No one around to buy the peso so it is sell time. Sucks for imports