A former latin american exile writes about life..

Ok so I gave up a comfy boring life to go live in South America. Lots have suggested that I write about my experiences, so here it finally is.

Saturday, October 25, 2008

I bought back into the market

I won't say what stocks, what prices, mum's the word. I treated my newly-minted investment account like a trip to Vegas and put a similar spending limit on it.

I have to train myself not to watch it every day - which would be easy if one of the stocks wasn't in merger talks. But nonetheless, I'm in for the near-to-long term.

It's like the great depression all over again - the press says "buy 'em while they're so low!"

The crash has not been like Argentina 2002. One bank I use got bought out by a bigger one - but no major changes yet. I'm already moving assets away. The only fallout is that I used that bank to pay my monthly Sky Mexico bill. I'd let my balance drop below the $USD equivalent of the MX peso debt I have with Sky. It just happened - I wanted my balance at that bank to be pretty damn LOW.

(BACKGROUND: I use Sky as Spanish-on-demand lessons on my TV. Sky legally cannot sell into the USA but it's a don't ask-don't tell situation because they want the US revenue. However, if I use a random debit card to pay Sky and then do a transaction in Phoenix a few minutes/hours later - both get flagged as fraud. It takes a half hour on the phone - at minimum - to straighten it all out! So last night - as my Sky bill was due - I called another CREDIT card provider and said - look, you're going to get a charge for a card-not-present transaction for 1,000 MX pesos but you might also see card-present transactions here in Phoenix tonight. They asked me more than ten questions to verify I was who I said I was - smooth sailing. The Mexican payment via Visa went thru and so did three other local transactions made an hour later.)

I'm setting up with yet a 3rd bank and make sure they know that one card-not-present transaction in MX pesos per month is "kosher."

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