Thread: Do you think the Dong is really a good investment?

First of all, in my opinion, I don't think so. Do you really think after over 33 years since the fall of Saigon the Dong has appreciated much? What makes anyone think that is going to change any time soon? If you are close to retirement age, betting on Vietnam's currency is not a good choice since you may be dead before seeing a return.

Secondly, we forget that Vietnam is a communist country. Investing in it's currency is like investing in it's government, after all, the central bank is controlled by them. I'm not here to discuss politics, however, one must be socially responsible when investing. I may be biased since I'm a Vietnamese refugee, but it's like having someone you love die from lung cancer, yet you go out and buy stocks in a cigarette company.

Your best bet in Vietnam is investing in it's infrastructure and public stocks. The growth in those mediums has far outpaced the currency tenfold. If you research carefully you can find little known Vietnamese stocks traded on the U.S. exchanges.

redskies

The dealers think its a good investment just like the dinar thats going nowhere.

its cheap. its worth the investment if youre willing to wait long term. i have had relatives die of lung cancer and yes i would invest in cig cos. money is money-there is no morality attached to it. all countries have their own atrocities they need to own up to. i still invest in this country-even for all of the political misdeeds we are guilty of.

So you are willing to kill your mother, father or sibling if some offered you a million dollars right? After all, money is money...

Well, I can tell you were the Dong and Dinar is going... no where. It will probably be a repeat of Mexico's own revaluation of the peso back in 1993. At the time, 2,894 Mexican pesos was about $1USD. The revaluation took place and 1000 pesos became N$1 nuevo or "new" peso. So 2,840 pesos was now N$2.84 nuevo pesos. In 1996, nuevo was dropped from the name and reverted back to peso.

Today's current exchange rate is $1USD = 10.8575 MXN Peso

In 1990, if you bought 2,894,000 Pesos for $1000USD, today after the revaluation, you would have 2,894 "new" pesos / 10.8575 = $266USD.

And this is with a country that is much more stable than Iraq or Vietnam with lots of oil. After about 15 years, you would have lost over 2/3s of your money.

If all you did was stick that $1000 in the bank for 3% a year, after 15years it's a 50% return.

no fool, i would not kill my parents for $$. i do however own ins policies for them when they do die. money has no morals-what you do to earn it does. owning dong does not support communism.

I see we now come to calling names, how mature. Listen to what you, yourself are saying.

"money has no morals-//what you do to earn it does//. owning dong does not support communism."

A country's currency, is basically is its stock in the country. When more people buy it, it drives the demand up which in turn drives the value up. A stronger currency strengthens the coffers. In this case, the communist government has more bang for it's buck to spend on building it's military and keeping democracy squashed. And that is what you are doing to earn your lousy buck.

I suppose you missed what I simply stated in my initial message. I could care less if you bought the Vietnamese currency or supported communism or not. I merely stated an opinion that while trading in its currency has a side effect of aiding the communist regime, I felt that you could make more money and quicker money by investing in the country's businesses/stocks or infrastructure. That too helps aid the government since a majority of the businesses are state owned, however, at a lesser extent. Investing in the businesses and infrastructure, helps move the country out of the dark ages and closer to democracy. Unless you don't care if we have another North Korea to deal with.

I guess you may be too naive to understand. No need to respond.

Is any investment a good investment?...No...
not until it pays off. We'll see how this one turns out. I wonder how much dong the refuge owns.

That's hyperinflation at work. It's not a pretty sight. Post-WWI Germany is the classic example. At one point, prices were doubling twice a day, people were getting paid twice a day and would hand their pay to their wife or kids so they could buy food before prices went up again. The German government ended up printing 100 Billion Mark notes. That only ended when they issued 'new' Marks, replacing the old ones (but, of course, still paid reparations in the old currency). The other solutions to stop or prevent it is to freeze prices or convert to a stable foreign currency (usually US Dollars). In any case, your investment ends up as a novelty item (I've got a 100M Mark note I bought for 1 Mark).

Hi Amanda, I don't think you are going to get any opinions about the Dinar here because you are posting in the Dong thread. There are several threads about the Dinar that you can read and post in. Welcome to RolClub.

Originally Posted by redskies

First of all, in my opinion, I don't think so. Do you really think after over 33 years since the fall of Saigon the Dong has appreciated much? What makes anyone think that is going to change any time soon? If you are close to retirement age, betting on Vietnam's currency is not a good choice since you may be dead before seeing a return.

Secondly, we forget that Vietnam is a communist country. Investing in it's currency is like investing in it's government, after all, the central bank is controlled by them. I'm not here to discuss politics, however, one must be socially responsible when investing. I may be biased since I'm a Vietnamese refugee, but it's like having someone you love die from lung cancer, yet you go out and buy stocks in a cigarette company.

Your best bet in Vietnam is investing in it's infrastructure and public stocks. The growth in those mediums has far outpaced the currency tenfold. If you research carefully you can find little known Vietnamese stocks traded on the U.S. exchanges.

redskies

I personally have some dong and feel it my be more valuable when vincent my son gets out of college.. or possible when he become a man at age 30 .. i know i bought some last year when i purchase my son nike kleats for baseball as he is a firstbaseman and the (nikes were made right there in vietnam) so that night i had talked to my brother who is currently living siapan in the pacific he said the cannon cameras was being made the also many computers ..so if your like me teaching your kids today these things now he will make good choices in the future with some viable investment smarts...... i feel it will have good returns but not for a long time out... better to have some incase were wrong its just that simple for the price heck anyone can afford some dong put it away for a rainy day.....................................musclesjw