For sure, but are there any redeeming qualities to the country?? I'm familiar with the history and the politics, the violence and the poverty. But is there anyone out there who can add a first hand experience? I guess I'm looking at this from a contrarian standpoint. Given a country that is so messed up, you would think it would offer tremendous opportunities. I've read that Montreal has quite a large Haitian community. Anyone have something to add?
Visited the place once. The biggest piece of shit in the Western hemisphere. I have yet to see this kind of poverty in any other country on this side of the globe. STAY AWAY
In reply to all that were asking about the PH: I was born and raised here of Chinese decent. So to the Fils, I'm a bit of a foreigner as well. There's some resentment towards the Chinese controlling about 90% of the economy here. I moved to the states when I was 20 and lived there for 10 years. So basically, all my adult working life. I grew up in a middle to upper class neighborhood where we have the typical stuff the American middle class family has: A nice house (2 floors, 5 bedrooms), 3 cars, my dad owns a restaurant, blah blah. The contrast really is the convenience of living in a 1st world country such as the US which is too much to list even if you grew up in an affluent neighborhood. I've always called PI my home but obviously, the US is my home too. I still own stuff - car, furniture, servers, etc stored in my brother's house in Chicago. One of the main reason I came back was so I could try trading full time while keeping cost of living to a minimum and see if it helps (it does). I also loved being in touch with good old friends and doing things I enjoyed growing up. It's kinda hard now 'cause I'm torn between two homes and friends. Mak: How are the women? They're great. Although, women of all races and nationality are great but they all have their own quirks Safety has never been an issue for me. For instance, I'd be more scared going into southside of Chicago than driving in the slums in Manila. Yes, you can have someone killed for about $500 I'm sure but you can also have that done in the US as well. Now, however, theft can be an issue such as leaving your stuff unattended for a brief period, leaving your car unlocked, etc. I do have American friends here who are living the life and they love it here. Like someone said, there's always a trade off living in a 3rd world country but there are great benefits too. If you have saved up enough or can make over $50k a year trading, you'd be one happy guy/girl. Cost of living is so cheap and you can live like a king here never having to do laundry, clean, cook, or anything. I'm going back to Chicago cause I do need the convenience of a 1st world country. But down the road, I'd like to spend half my time here and half my time there if I can. That way, I get to have best of both worlds. Lastly, I'm planning to live in Shanghai next year if I decide to move my Chicago trip back a few more months. Conclusion: What you see on TV usually magnifies a hundred folds the problems in 3rd world countries. It isn't as bad as CNN or BBC will make you think.
Panama has beautiful weather. It still has a reasonable cost of living. Wonderful food. Terrific restaurants from all over the world. Top banking nation. Easy access to North America and South America. Easy access to either ocean via the canal if you want to take a cruise. This isn't a reason for me as I'm married, but, as I've said, I've lived in 20 different countries, and Panama is at the top of the list for drop dead gorgeous women. Go to the Miss Universe web site and click on Miss Panama for any year. Petty crime and police corruption would be a concern, but bottom line, once you are married and have a family, the normal routines of family life keep you away from 99% of the things in life that might get you into trouble. That would apply in any country.
If you are in Panama City I think you will see it is far from third world. If you go out in the countryside then sure it is pretty 3rd world, but you cannot say that about the city. Great food, all the comforts of US (internet, cable, banking, cars, services, US Dollar, etcc..). Bank of America, Citibank, HSBC, Merrill Lynch and many U.S. and foreign entities do business there. Avenida Balboa along the water reminds me a lot of Miami. It has poverty issues sure, but nothing worse than what I have seen in New Orleans burbs or other parts of the U.S., definitely not like Haiti. It may not be the first choice of some but the capital of Panama is not 3rd world. Either you have never been or had a bad experience which is a shame.
Yes, I agree, you can probably have someone killed even in Switzerland as well. The point that I was trying to make, and I didn't elaborate was that as a young IT professional coming from a second generation Mid West US middle class background, not only would I have no idea how to find someone to kill another person, the thought would not even cross my mind. Now, granted, my friend was a player, i.e. juggling well-to-do PI women, so perhaps one of the women was "connected" shall we say, but then again, he would have clearly stated it. I still feel that for the most part, coming from most of Middle America, the average young business professional would have no idea how to higher a professional killer, nor the inclination. So, yes, you are right, you could have the same thing in the US. I just assumed that a world traveler is coming from a reasonably similar background, i.e. roughly middle class. After all, how many gang bangers or mafia guys have you met who are teaching English overseas, or trading or working for the US State Dept? Those are the types of folks who wouldn't bat an eye regarding killing someone over some stupid romantic or business dispute.
This is not a plug for Interactive Brokers but this is what I know so here are the options they offer: 1. You can use IB from wherever you live and have access to the internet 2. You can denominate your account currency in either USD or any other one (e.g. EUR or CHF) 3. If your account is USD and you purchase USD stocks there is obviously no currency exchange required. If you purchase e.g. EUR stocks, the IB system "borrows" (goes short) the respective amount of EUR and goes long the stock in EUR, creating a EUR neutral position. However, this is of course not dynamically hedged should your stock appreciate/depreciate over time. 4. If your account is in EUR/CHF etc. the opposite applies! In this case, if you purchase USD stocks the IB system will go short USD the instant you buy the stock and you will still be net neutral to the USD. You just want to look at your account every once in a while since appreciation/depreciation of your assets might make adjusting necessary. 5. Make sure you realize that shorting currencies can incur interest swap costs, depending on the interest rates of that respective currency. If your account is CHF (2%) and you short USD (5.25%) then you have to pay the difference on an annual basis, prorated daily overnight. It's not much on a daily basis but it can eat away a bit of your annual performance. It's like an insurance policy that costs money.