Pound v Euro

Degenerate

missile wrote: »

The value of the pound v euro has fallen since the introduction of the euro.

Indeed it has, but that was never the point at issue. You said:

missile wrote: »

When I first bought, it was 1.68 euros to the £. Pound has weakened steadily since then and until recently that trend seemed likely to continue. It seemed sensible to leave some of the money in euroland rather than converting it all to £.

I said:

Degenerate wrote: »

Recently? You evidently haven't been watching very closely. The pound bottomed out at €1.02 in January 2009. Since then it has bumped around mostly in a range between €1.12 and €1.24, there is no way you could describe it as weakening steadily.

Which is verifibly true. So basically, you were wrong.

missile wrote: »

It is down from 1.49 when YOUR data starts in 2004.
Seems I know a little more than you :rotfl:

Er, no. You started off by displaying your own lack of knowledge. Since your mistake was pointed out, you have been trying to cover it by changing the terms of discussion from "until recently" to "over the past 10 years". Seems you don't know when to quit embarassing yourself.

missile

It certainly is a very relevant issue.
I said

I have no idea what I should do?

because I do not know what will happen in euroland, do you?

When I first bought, it was 1.68 euros to the £. Pound has weakened steadily since then and until recently that trend seemed likely to continue.

Can you find ANY 4 year time frame where the £ has not fallen in value v the euro?

I do know that the slump in 2009 and the current 3 1/2 year high is not related to PPP. Have you got any more reliable stats you want to quote?

I am always willing to learn. I don't claim to be a financial guru and it certainly seems you are not.

Degenerate

missile wrote: »

Can you find ANY 4 year time frame where the £ has not fallen in value v the euro?

Yep. Yahoo finance goes back further than Google, enabling me to point out that the pound appreciated from around €1.38 on May 20, 2003 to around €1.48 on May 20 2007:

http://finance.yahoo.com/echarts?s=GBPEUR%3DX+Interactive#symbol=;range=20030520,20070521;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;

Choosing 4 years as the time frame was a quite obvious and pathetic ploy because you were proved wrong about the last 3, but even when trying to set the terms to suit yourself, you still can't get it right.

missile

Good for you. Most will agree the exception proves the rule. Which takes me back to my original post should one follow the herd and sell euros now?

I consider sterling is curently overvalued. This is not supported by ecconomic strength. It has nothing to do with PPP It is primarily a reflection of continuing uncertainty surrounding the euro. If and when euroland finds a way forward the £ will surely recommence it's inexorable decline. http://www.ft.com/cms/s/0/559f525c-99b2-11e1-aa6d-00144feabdc0.html#axzz1uU4IaExT

I find it best to follow a long term investment strategy.

When I first bought, it was 1.68 euros to the £. Pound has weakened steadily since then and until recently that trend seemed likely to continue.

At this point my "investment" in euros is showing a very healthy return. I certainly got that right :T

Degenerate

missile wrote: »

Good for you. Most will agree the exception proves the rule.

There's nothing exceptional about it, the trend since the euro was introduced shows several periods where the GBP steadily appreciated, contrary to your claims of a continuing steady decline.

missile wrote: »

I consider sterling is curently overvalued. This is not supported by ecconomic strength. It has nothing to do with PPP It is primarily a reflection of continuing uncertainty surrounding the euro.

So what you're saying is that when comparing GBP to EUR, economic problems in the UK should be taken into consideration, but economic problems in the Euro-zone should be disregarded? Yet another demonstration of how you like to be selective with the evidence to support your pre-formed conclusions.

missile wrote: »

If and when euroland finds a way forward the £ will surely recommence it's inexorable decline. http://www.ft.com/cms/s/0/559f525c-99b2-11e1-aa6d-00144feabdc0.html#axzz1uU4IaExT

That article doesn't support your assertion, it merely advises caution.

missile wrote: »

I find it best to follow a long term investment strategy. At this point my "investment" in euros is showing a very healthy return. I certainly got that right :T

Frankly, with the ignorance you have displayed here I find your claim to have bought into Euros at €1.68, almost the all-time high, to lack credibility. If you did, it was a complete fluke by someone with no understanding of what they were doing. And you certainly haven't got it right over the past 3 years. You failed to realise your gains at the appropriate moment in 2009, and since then have seen your potential gains decline by over 20%.

CLAPTON

Degenerate wrote: »

Why are you looking at such a short-term trend? Surely it's more useful to go back to the English Civil war, or the signing of the Magna Carta.

well amazingly there was little devaluation in those day because of cause we were on the gold standard
and apart from adding a but of lead to the gold there was little scope for devaluation

missile

Degenerate wrote: »

Frankly, with the ignorance you have displayed here I find your claim to have bought into Euros at €1.68, almost the all-time high, to lack credibility. If you did, it was a complete fluke by someone with no understanding of what they were doing. And you certainly haven't got it right over the past 3 years. You failed to realise your gains at the appropriate moment in 2009, and since then have seen your potential gains decline by over 20%.

It was not an all time high when I first bought euros, but why let the facts get in the way? :rotfl: I hope you feel better for flaming me, pqrdef, sims01 and trolling my thread :A

Degenerate

missile wrote: »

It was not an all time high when I first bought euros, but why let the facts get in the way?

It seems you can't even read:

Degenerate wrote: »

Frankly, with the ignorance you have displayed here I find your claim to have bought into Euros at €1.68, almost the all-time high, to lack credibility.

Generali

Prolly better to buy proper assets than hold cash. If you hold an asset that produces something than you have some genuine value.

Money (or money substitutes such as gold and silver) only have value in exchange.

missile

Generali wrote: »

Prolly better to buy proper assets than hold cash. If you hold an asset that produces something than you have some genuine value.

Money (or money substitutes such as gold and silver) only have value in exchange.

I think we were quite fortunate to sell our property in spain when we did. I do not feel inclined to buy another anytime soon.