Help brokerage account

[limerickman]

I have never set up a brokerage account and need some advice. I am considering using peter schiff's Euro pacific bank because it really safe. But I want to invest in 2 specific funds

1) in Tocqueville Gold (TGLDX) (gold miners) and
2) in PowerShares DB 3x Inverse Japanese Govt Bond Futures ETN (leverage short JGB's)

How do I tell if a broker has access to this funds? Am FYI I live in Singapore.

Thanks for the help

 

[Zippyjuan]

Why not contact EuroPac? Peter's account fees do run above average for people in the US. He charges a 4.5% sales fee on mutual funds for one. But here is a link to his website: http://www.europac.net/

 

[Cowlesy]

peter schiff's Euro pacific bank

Peter doesn't have a bank (insured depository institution). Why do you think a bank he doesn't have is safe?

 

[Zippyjuan]

It would be as safe or unsafe as any other broker. Can you buy shares directly (cheaper and just as safe)?

 

[Cowlesy]

It would be as safe or unsafe as any other broker. Can you buy shares directly (cheaper and just as safe)?

Please tell me you aren't positing that all brokers are equal when it comes to safety of customer accounts.

 

[Zippyjuan]

Only that they are not insured accounts like a bank account as you pointed out. Yes- there are good brokers and bad ones. They have no guaranteed safey.

 

[limerickman]

Only that they are not insured accounts like a bank account as you pointed out. Yes- there are good brokers and bad ones. They have no guaranteed safey.

I want to use his service because I trust him. Its easier to open a broker account with euro pacific bank than his other company because I'm not a US citizen. Can someone answer the questions about the funds I mentioned?

 

[matt0611]

Peter Schiff does have a bank (Euro Pacific Bank) but its not open to US citizens for regulatory reasons. Its not a fractional reserve bank (its 100% reserve).

But if you want to invest in stocks, bonds, etc I don't think you want to use his bank, you'd want to use Euro Pacific Capital instead.
http://www.europac.net/

If you want to know if a broker has those specific funds you'll just have to call them and ask them most of the time.

If you've never had a brokerage account I'd recommend you probably not get into funds that are leveraged in such a specific asset (like JDBs).

Maybe take a look at the Merk Hard Currency Fund? It's called MERKX and it invests in some gold/silver, harder currencies (aussie dollar, swdish krona, singapore dollar etc) and also has 9% short on Japanese bonds. More info here: http://www.merkfunds.com/fund/mhcf/

The guy who runs that family of funds is friends with Peter and they share a lot of the same economic and political views.

My brokerage account I use for my IRA (Fidelity) has both the Tocqueville Gold (TGLDX) fund and the Merk Hard Currency Fund and they have very low fees.

I'm not a professional, these are just my opinions.

 

[Zippyjuan]

I want to use his service because I trust him. Its easier to open a broker account with euro pacific bank than his other company because I'm not a US citizen. Can someone answer the questions about the funds I mentioned?

Try this. http://europacbank.com/our-products/brokerage/

Contact: http://europacbank.com/contact/

111 Euro House
Financial Services Centre
Stoney Ground
Kingstown, VC0100
St. Vincent and the Grenadines

Tel: +1(784) 453-2086
Fax: +1(784) 453-2085
Email: [email protected]

FAQ http://europacbank.com/faq/

$50 to open an account. Minimum commission on stocks $25 Singapore. ($15 US but EuroPac bank is not open to US citizens).

I see it is an "offshore banking business".

 

[Jordan]

Can I talk you out of that trade in JGBD? Daily leveredd funds/notes are designed to go to zero.

 

[limerickman]

Can I talk you out of that trade in JGBD? Daily leveredd funds/notes are designed to go to zero.

You can indeed. I'm pretty new to stocks. Its my first time opening a brokerage account. I have studied Japan and listened to allot of Kyle Bass's talks. He has me convinced. I was planning on trading the coming bond bust in JGB's and was going to put 50% in inverse JGB fund and 50% on 3x leverage inverse JGB fund. Only about 2-3% of my portfolio. But I'm open to advise from people here, ye certainly know your stuff.

 

[limerickman]

Also guys, is anyone here shortings JGB's? If so what way do you do it?

Is the JGB standard inverse fund ok?

 

[oyarde]

Send me a pm in a couple days, I will hook you up with one of my guys.

 

[Zippyjuan]

Also guys, is anyone here shortings JGB's? If so what way do you do it?

Is the JGB standard inverse fund ok?

No experience but based on this article, could be risky (shorting anything contains risk).
http://www.ft.com/intl/cms/s/0/36905444-a1b6-11e2-ad0c-00144feabdc0.html#axzz2RDKWDLdN

Yo-yo has nothing on JGBs

By Jamie Chisholm

Trading in JGB futures suspended after prices fall sharply
A yo-yo has nothing on the Japanese bond market – or JGBs as the country’s sovereign debt is known.

At the start of the week deals were halted when JGB futures jumped. On Wednesday, when futures prices fell sharply – and underlying yields soared – there was another brief halt to trading.

It seems investors are having a torrid time working out what the Bank of Japan’s aggressive stimulus plan means for JGBs.

On April 5, the day after the BoJ revealed its new policy, 10-year yields fell to a record low of 32 basis points only to double from that level by the end of the session. They are now 60bp.

Investors are caught between knowing the BoJ is backstopping the market but wary of committing to such meagre yields, especially when there is better on offer elsewhere – US equivalent duration bonds yield 1.77 per cent, for example.

All the kerfuffle has left the Japanese bond market a much more risky investment.

The historical price volatility of JGBs maturing in more than 10 years was the least volatile globally in 2011, notes Bloomberg. On a 10-day view, JGBs are now second most twitchy, behind only Greece.

Chart from same link: