vania-janet/multiturn-rag-retrieval-data huggingface dataset:
Milliondollarjourney.com has a couple of articles on this topic. How Investing Taxes Work part 1 and part 2. The following is a summary of that article. Capital gains and dividends are taxed at a preferred rate, while interest tax is taxed at your regular rate. Interest is taxed at your marginal rate, but capital gains are taxed at only 50% of your marginal rate. That means that it makes sense to place the interest bearing account inside the RRSP but keep stocks outside. Additionally, you can claim your losses on your capital appreciating stocks against your gains if they are outside of your RRSP. Hopefully, your stocks will never go down but that's not very realistic. Dividends from Canadian companies are eligible for a dividend tax credit, but not dividends from foreign companies. [I actually understood that dividends from U.S. companies are treated as a special case] It's not clear to me from reading the article how much of this applies to mutual funds. The summary is as follows:
Thank you for the links on VBA and R.  I took several years of C++ programming in high school, so hopefully the concepts are similar.  Initially I really wanted to get in to the investment side, but there aren't very many entry level investment related analyst positions that get posted in the Seattle area.  If I only applied to the few investment related positions, I don't know if I would ever get a job, so I branched out to corporate finance as well out of necessity.
International equity are considered shares of companies, which are headquartered outside the United States, for instance Research in Motion (Canada), BMW (Germany), UBS (Switzerland). Some investors argue that adding international equities to a portfolio can reduce its risk due to regional diversification.
These interest rates are very low. One of the reasons that I prefer E*Trade is because on their on-line savings account the interest rates are several times higher than on ScotTrade margin accounts (currently it's 0.7% on E*Trade, on any amount, IIRC). The transfers between the accounts on E*Trade are immediate, and they allow using the money for investing immediately even for transfers from outside source. If you can wait a couple of days for the money to arrive before your investment (unless ScotTrade, like E*Trade, allow investing external transfers immediately), you can look at AMEX, ING Direct or Capitol One on-line savings accounts for even higher rates. Oh, and needless to mention, on-line savings accounts are FDIC insured, I'm not sure if the uninvested deposits on Scottrade are.
How would I go about doing this? Are there any tax laws I should be worried about? Just report it as a regular sale of asset on your form 8949 (or form 4797 if used for trade/business/rental). It will flow to your Schedule D for capital gains tax. Use form 1116 to calculate the foreign tax credit for the taxes on the gains you'd pay in India (if any).
You are faced with a dilemma. If you use a 529 plan to fund your education, the short timeline of a few years will limit your returns that are tax free. Most people who use a 529 plan either purchase years of tuition via lump sum, when the child is young; or they put aside money on a regular basis that will grow tax deferred/tax free. Some states do give a tax break when the contribution is made by a state taxpayer into a plan run by the state. The long term plans generally use a risk profile that starts off heavily weighted in stock when the child is young, and becomes more fixed income as the child reaches their high school years. The idea is to protect the fund from big losses when there is no time to recover. If you choose the plan with the least risk the issue is that the amount of gains that are being protected from federal tax is small. If you pick a more aggressive plan the risk is that the losses could be larger than the state tax savings. Look at some of the other tax breaks for tuition to see if you qualify Credits An education credit helps with the cost of higher education by reducing the amount of tax owed on your tax return. If the credit reduces your tax to less than zero, you may get a refund. There are two education credits available: the American Opportunity Tax Credit and the Lifetime Learning Credit. Who Can Claim an Education Credit? There are additional rules for each credit, but you must meet all three of the following for either credit: If you’re eligible to claim the lifetime learning credit and are also eligible to claim the American opportunity credit for the same student in the same year, you can choose to claim either credit, but not both. You can't claim the AOTC if you were a nonresident alien for any part of the tax year unless you elect to be treated as a resident alien for federal tax purposes. For more information about AOTC and foreign students, visit American Opportunity Tax Credit - Information for Foreign Students. Deductions Tuition and Fees Deduction You may be able to deduct qualified education expenses paid during the year for yourself, your spouse or your dependent. You cannot claim this deduction if your filing status is married filing separately or if another person can claim an exemption for you as a dependent on his or her tax return.
It depends on how much diversification you think you need and what your mutual fund options are. For instance, picking an index fund already provides a fair amount of diversification, especially if you select a Total Market type of index (readily available from Fidelity and Vanguard, and many other fund families). Are you looking to balance domestic vs. international investments? You may want to add an international index fund to the mix. Feel that a particular sector has tremendous potential? Add a sector fund. This investment mix is up to you (or your investment advisor). However, depending on your Roth IRA mutual fund choices, some of these funds may have minimum investment requirement - $3k to open a fund's account, for instance. In that case, you'd have no choice but to put your entire investment into one fund, and wait for subsequent years where you'd be able to invest in other funds after providing additional contributions and/or reallocation any growth from your initial investment. One thing to look at is whether you have an option of putting some of your contributions into a money market account within the Roth IRA - you can then reallocate funds from that account into another fund after you can meet the minimum investment requirement. However, in my opinion, if you start out by investing in a solid, low-cost index fund from a reputable mutual fund company, you've already picked up most of the diversification you need - a single fund is enough.
"@sdg's answer is spot-on with the advice to avoid repeated conversions, but I'd like to provide some specifics on the fees involved: Each time you round-trip Canadian dollars (CAD) through a U.S.-dollar (USD) priced security at TD Waterhouse and leave your proceeds in CAD, you're paying a total foreign exchange fee – implied in their rate  spread – of about 3%, give or take. That's ~3% per buy & sell combination, or ~1.5% on each end. You can imagine if you trade back & forth frequently, you can quickly lose a lot of money.  Do it back and forth ten times in a year and you're out ~30% on the fees alone! The TD U.S. Money Market Fund (TDB166) that TD Waterhouse is referring to has no direct commission to buy or sell, but it does have a Management Expense Ratio (MER) of 0.20% per year – basically a fee which is deducted from the fund's returns (which, today, are also close to zero.)  Practically speaking, that's a very slim fee to hold some USD in your Canadian dollar TFSA. While 0.20% is cheap, a point to keep in mind is if you maintain a significant USD balance, you are maintaining currency risk:  You can lose money in CAD terms if the CAD appreciates vs. USD. Additional references: Canadian Capitalist describes TD Waterhouse and the use of TDB166 and ""wash trades"" at How to ""Wash"" Your Trade?  He's referring to RRSPs, but the same applies to TFSAs, which came out after the post was written. Canadian Couch Potato has two relevant articles: Are US-listed ETFs Really Cheaper? and Lowering Your Currency Exchange Fees."
"The other option apart from the above which I feel is quite good is ""Travel Card"" [also called Forex Card] issued in USD. These cards are like prepaid debit cards. They are available from almost quite a few Indian Banks like HDFC / ICICI / UTI. The limit for students is around 100 K USD per year.  http://www.hdfcbank.com/personal/cards/prepaid_cards/forexplus_card/pre_forex_elg.htm The card can be reloaded by any amount [i think the minimum is USD 100] by visiting the Branch or certain Forex agents. There loading fee is INR 75. The Fx is typical Card Rate prevailing on the day. In US this card can be used as a credit card for almost everything [I have used this without any hassel]. Avoid using the card for blocking anything [at Hotel for room booking, or initial block at car rentals]. Although its mentioned that there is a withdrawl fees, i was never charged anything for withdrawls. The card comes with an internet based login to monitor account balance and transactions. Any unused funds can be withdrawn in India. The payment will be make in INR."
Well I just had my interview about 2 weeks ago and some of these questions DID come up.  So these are a start, but also you should just pay attention carefully to your finance course literature.  Things like price/yield relations of bonds. How does maturity affect their price sensitivity? What does dividend issuance do to the value of an equity's stock?  As to your next summer internship... I find it a little weird that you'd be involved in VC.  No offense, but those people usually have many years of background in an industry before they start giving seed money to prospective companies.  Maybe some specifics on what you'd actually be doing for a VC firm could help me help you.
OP:  - I graduated with a Finance Degree from USC with a focus on financial analysis and valuation  - Failed to get accept into one of the major investment banks with a 3.7 (turned out for the best). I thought my world was fucking over.   My career trajectory in the last 4 years has been:  Commercial Insurance (1.5 years, 40hrs/week)&gt; Consulting (1.5 years, 80hrs/week) &gt; Technology firm (current, ~40hrs/week).  At this point, I have parlayed by financial modeling experience into a strategy and corporate planning role.  My income has gone from 50K to 85K in those 4 years.   Takeaway: Don't worry so much about being at a target school. Connections/internships (which you can get despite your school of choice) will determine where you end up. Join any relevant investing / finance clubs. Develop a network and learn to leverage that network's network (I didn't learn the true value of this until after I graduated). Furthermore, there are a VARIETY of small, boutique firms where you could get an internship/first-job that would be  great springboard into a larger firm. Sometimes your circumstance dictates a small start with a rapid increase. Do not get so hung up on your school and focus more on the opportunities your school opens up for you, and take advantage of those.
These costs would be experienced by the portfolio manager, and passed on to you, as the investor. For the EU couch potato Remember the criteria, especially part 2, and the intent as described by the Couch Potato name, implying extremely passive investing. You want to choose two funds offered by very stable, reputable fund management companies. You will be re-balancing every six months or a year, only. That is four transactions per year, maximum. You don't need a lot of interaction with anyone, but you DO need to have the means to quickly exit both sides of the trade, should you decide, for any reason, that you need the money or that the strategy isn't right for you. I would not choose an ETF from iShares just because it is easy to do online transactions. For many investors, that is important! Here, you don't need that convenience. Instead, you need stability and an index fund with a good reputation. You should try to choose an EU based fund manager, or one in your home country, as you'll be more likely to know who is good and who isn't. Don't use Vanguard's FTSE ETF or the equivalent, as there will probably be currency and foreign tax concerns, and possibly forex risk. The couch potato strategy requires an emphasis on low fees with high quality funds and brokers (if not buying directly from the fund). As for type of fund, it would be best to choose a fund that is invested in mostly or only EU or EEU (European Economic Union) stocks, and the same for bonds. That will help minimize your transaction costs and tax liability, while allowing for the sort of broad diversity that helps buy and hold index fund investors."
I found a possible data source. It offers fundamentals i.e. the accounting ratios you listed (P/E, dividend yield, price/book) for international stock indexes. International equity indices based on EAFE definitions are  maintained by Professor French of French-Fama fame, at Dartmouth's Tuck Business School website. Specifics of methodology, and countries covered is available here. MSCI is the data source. Historical time interval for most countries is from 1975 onward. (Singapore was one of the countries included). Obtaining historical ratios for international stock indices is not easily found for free. Your question didn't specify free though. If that is not a constraint, you may wish to check the MSCI Barra international stock indices also.
Data mining + uber connections can land you in with a hedge fund. I would focus on being as social as possible, joining business clubs / connected fraternities and enrolling in CFA 1 to maximize your chances. A solid connection will get you further faster than anything else.   I'm going to say that the graduate classes you take won't be as relevant at the Msc at the end of your name.
"As Dheer has already told you in his answer, your plan is perfectly legal, and there are no US tax issues other than making sure that you report all the interest that you earn in all your NRE accounts (not just this one) as well as all your NRO accounts, stock and mutual fund dividends and capital gains, rental income, etc to the IRS and pay appropriate taxes. (You do get a credit from the IRS for taxes paid to India on NRO account income etc) You also may also need to report the existence of accounts if the balance exceeds $10K at any time etc. But, in addition to the foreign exchange conversion risk that Dheer has pointed out to you, have you given any thought to what is going to happen with that credit card? That 0% interest balance of $5K does not mean an interest-free loan 0f $5K for a year (with $150 service charge on that transaction). Instead, consider the following. If you use the card for any purchases, then after the first month, your purchases will be charged interest from the day that you make them till the day they are paid off: there is no 25-day grace period. The only way to avoid this is to pay off the full balance ($5K 0% interest loan PLUS $150 service charge as well as any other service charges, annual fees etc PLUS all purchases PLUS any interest) shown on the first monthly statement that you receive after taking that loan. If you choose this option, then, in effect, have taken a $5K loan for only about 55 days and have paid 3% interest (sorry, I meant to write) service fee for the privilege. If you don't use the card for any purchases at all, then the first monthly statement will show a statement balance of $5130 and (most likely) a minimum required payment of $200. By law, the minimum required payment is all interest charged for that month($0) PLUS all service fees charged during that month ($150) PLUS 1% of the rest ($50). Well, actually the law says something like ""a sufficient fraction of the balance to ensure that a person making the required minimum payment each month can pay off the debt in a reasonable time"" and most credit card companies choose 1% as the sufficient fraction and 108 months as a reasonable time.
(If you do have some expertise in more exotic investments, then maybe you could go this route, but I think most people -- including me -- don't.) On the other hand, you can find mutual funds or ETFs that invest in large economic sectors that are high-risk, but because the investment is diversified within that sector, you need only compare the risk of the sectors. For instance, emerging markets are usually considered one of the highest-risk sectors. But if you restrict your choice to low-cost emerging-market index funds, they are unlikely to differ drastically in risk (at any rate, far less than individual companies). This eliminates the problem mentioned above: when you choose to invest in Emerging Markets Index Fund A, you don't need to worry as much about whether Emerging Markets Index Fund B might have been less risky; most of the risk is in the choice to invest in the emerging markets sector in the first place, and differences between comparable funds in that sector are small by comparison. You could do the same with other targeted sectors that can produce high returns; for instance, there are mutual funds and ETFs that invest specifically in technology stocks. So you could begin by exploring the mutual funds and ETFs available via your existing investment bank, or poke around on Morningstar. Fees will still matter no matter what sector you're in, so pay attention to those. But you can probably find a way to take an aggressive risk position without getting bogged down in the details of individual companies. Also, this will be less work than trying something more exotic, so you're less likely to make a costly mistake due to not understanding the complexities of what you're investing in."
"The portfolio described in that post has a blend of small slices of Vanguard sector funds, such as Vanguard Pacific Stock Index (VPACX). And the theory is that rebalancing across them will give you a good risk-return tradeoff. (Caveat: I haven't read the book, only the post you link to.) Similar ETFs are available from Vanguard, iShares, and State Street. If you want to replicate the GFP exactly, pick from them. (If you have questions about how to match specific funds in Australia, just ask another question.) So I think you could match it fairly exactly if you wanted to. However, I think trying to exactly replicate the Gone Fishin Portfolio in Australia would not be a good move for most people, for a few reasons: Brokerage and management fees are generally higher in Australia (smaller market), so dividing your investment across ten different securities, and rebalancing, is going to be somewhat more expensive. If you have a ""middle-class-sized"" portfolio of somewhere in the tens of thousands to low millions of dollars, you're cutting it into fairly small slices to manually allocate 5% to various sectors. To keep brokerage costs low you probably want to buy each ETF only once every one-two years or so. You also need to keep track of the tax consequences of each of them. If you are earning and spending Australian dollars, and looking at the portfolio in Australian dollars, a lot of those assets are going to move together as the Australian dollar moves, regardless of changes in the underlying assets. So there is effectively less diversification than you would have in the US. The post doesn't mention the GFP's approach to tax. I expect they do consider it, but it's not going to be directly applicable to Australia. If you are more interested in implementing the general approach of GFP rather than the specific details, what I would recommend is: The Vanguard and superannuation diversified funds have a very similar internal split to the GFP with a mix of local, first-world and emerging market shares, bonds, and property trusts. This is pretty much fire-and-forget: contribute every month and they will take care of rebalancing, spreading across asset classes, and tax calculations.
The value of a foreign stock is subject to fluctuations in the foreign currency value; this is not the case for domestic stocks.
Most prop firms these days want someone with a degree in math/statistics/engineering/physics/comp sci, i.e. someone who can think quantitatively and knows how to program.  If your still in college you might want to consider switching to one of those majors rather than finance.  You might want to look at some job postings from major prop firms just to see what they are looking for.  Many firms have college recruiting programs so check those out as well.  I also [wrote a post earlier](http://www.reddit.com/r/finance/comments/tqrij/seeking_advice_on_professional_currency_trading/c4oxp4u) about prop trading but that was directed more at someone who is already a profitable trader.  I forgot to add two links when I wrote that post: http://traderfeed.blogspot.com/2007/07/steps-toward-joining-proprietary.html  http://traderfeed.blogspot.com/2006/11/how-can-i-join-trading-firm.html  If I remember any other links I will make another post.
If it became a choice of reading books versus finding internships in the industry I would choose the latter.   If it is supplemental material to the internship I think that the ones you have listed are fine. Reading a book about an ever changing industry really isn't going to get you ahead. Experience is. That being said topics related to liquidity, repo transactions, and risk management to be key if you are entering the financial industry.  For prop trading there aren't going to be too many people writing about a how to manual on the industry because then they have more competition with their experience. IMO That is why you need to work with these people and acquire the knowledge firsthand.  Trading is not something you can read about you need to do it. Especially when you are competing with people who have done it their whole lives.
"Disclaimer: I am neither a lawyer nor a tax-expert This page on the HMRC site lists several pages that appear to be relevant, starting with CG78401 - Foreign currency: delayed remittances and on to CG78408 - Foreign currency: example which seems pertinent to your case [paraphrased]: A property bought in 1983 is sold for a [taxable] gain in one tax-year (1986/87) but the proceeds cannot be released/remitted to the UK until later (1991/92), by which time currency fluctuations have created a second [taxable] gain. The size of the first gain (selling the property) is determined by the exchange rate in effect at the time of the sale but because of local restrictions, this can be deferred.  The size of the second gain (currency movement) is determined by the change in exchange-rate between the time of the sale and the time of conversion. In your case, the first ""gain"" was actually a loss, so I believe you should be able to use this to offset any tax due second gain.  This page states that losses can be claimed up to four years after the end of the tax-year in which they were incurred, so you are probably still OK. (The example makes application under TCGA92/S279 to defer the gain made on the original sale [because of the inability to transfer funds], but as I understand it, this is primarily to avoid a tax liability in that year.  Since you made a loss on the sale, there wouldn't have been a tax liability, so there would be no need to defer it)."