Ideas for holding USD?

[DimPrawn]

Got a wedge of sterlings. Now, just to reduce risk, some is in gold (BullionVault) and some is in other investments, but I've still got a good part of it in GBP.

To reduce risk if sterling collapses, I'd like to hold some in USD.

Now, I could buy US equities or bonds, but I fear these are overpriced and ready for a correction.

I could open a Cater Allen USD bank account here, but switching to and from USD will hit me with 2% loss in exchange rate difference and no interest. I might do this based on sterling probably losing another 20% against USD in 2010.

Any other suggestion for holding something in USD that is not likely to lose value and might even go up if the dollar rallies against the pound?

TIA

[AtW]

Now, just to reduce risk

Give all your money to charity and this would reduce your risks to zero.

Failing that try to find some sensible forum to ask for financial advice.

Or even better - consider spending small part of your immense wedge on proper financial advice, this - in the end - should also reduce your risks to zero.

[badger7579]

Got a wedge of sterlings. Now, just to reduce risk, some is in gold (BullionVault) and some is in other investments, but I've still got a good part of it in GBP.

To reduce risk if sterling collapses, I'd like to hold some in USD.

Now, I could buy US equities or bonds, but I fear these are overpriced and ready for a correction.

I could open a Cater Allen USD bank account here, but switching to and from USD will hit me with 2% loss in exchange rate difference and no interest. I might do this based on sterling probably losing another 20% against USD in 2010.

Any other suggestion for holding something in USD that is not likely to lose value and might even go up if the dollar rallies against the pound?

TIA

How do you sleep at night worrying about where to put all your cash????

[Lockhouse]

Buy property in the US. Very undervalued at the moment. Their market will bounce back whereas ours will not.

[DimPrawn]

Give all your money to charity and this would reduce your risks to zero.

Failing that try to find some sensible forum to ask for financial advice.

Or even better - consider spending small part of your immense wedge on proper financial advice, this - in the end - should also reduce your risks to zero.

Thanks for your ever useful advice.

Proper financial advisers don't have a clue, they were ones telling everyone to get an endowment and to buy dot com stocks.

I do a lot of work for charidee, but don't like to talk about it.

[AtW]

I do a lot of work for charidee, but don't like to talk about it.

Judging by the size of your wedge (of money) your charity starts at home.

[DimPrawn]

How do you sleep at night worrying about where to put all your cash????

It's something I'm learning to live with.

[DiscoStu]

I'm going to Vegas in April, I'll invest it in some casino chips for you if you like

[chef]

<sound of alarm bells ringing>

"DP it's time to wake up and goto work, those bins aren't gonna empty themselves"

[DimPrawn]

Buy property in the US. Very undervalued at the moment. Their market will bounce back whereas ours will not.

Have been looking at property for holiday rental in Florida, good value at the moment (a giant Mc Mansion for about £500K), but it's not a very liquid market and dealing with a rental thousands of miles away is a pain, as I know from owning a villa in Cyprus.

Still, it's a good suggestion but a bit impractical.