Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: isopatch who wrote (32052)	8/23/2003 7:33:19 PM
From: jimsioi	Read Replies (1) of 36161

Iso, again, on the CanRoys Did some calculations on distributions and exchange rate slippage regarding the CanRoys I own based on your admonishment. I find your point overstates the amount I'd be losing over the longer term in the exchange conversion at least through the brokerage I use. At an absolute max I see potential loss of a percent off the annual percentage rate..max...that's 16% vs. 17% return. Given the fact that the two issues I prefer render returns many percentage more than the US counterparts and because the Canadian distributions rise in dollar terms, which one might anticipate as commodity currencies appreciate relative to others, I'll stick with what I have. The currency risk or opportunity is a much larger consideration that the slippage issue. Interestingly, I don't recall you're being concerned about this exchange conversion issue when you were long certain CanRoys and were ballyhooing returns / distributions then. Canadian Dollar put in an outside day reversal on Friday though remaining in a flag consolidation formation. treasurestatefutures.com

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