Posted by: Captain Haddock December 21, 2006
Bumper Yield on Wall Street (for some)
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Thanks, Hukka Nepali. I realize every day is not Sunday and I pray I have the wisdom and perhaps luck to cash out at the right time :) Kalebhut - Indian laws donot allow direct online trading by people outside India as far as I know. There is some sort of a work around if you open what is called an NRE/NRO account and trade offline through a broker in India. I have not done it myself but you might want to check out some of the brokerage site like ICCCIBank and ShareKhan for more information. But if you are in India, then you can use the online services of these firms - a buddy of mine in India has been doing it for a while now and seemed quite satisfied with the service. Also, stock of the handful of Indian companies listed on NASDAQ and other exchanges can be traded using your regular US brokerage account. (Duh!:)) And if you are not averse to mutual funds, there are quite a few US funds out there whose portfolios covers stocks in India. As for buying stock in India as a Nepali, I was told the law is vague on that. I am not a lawyer, but as per the 1950 treaty, you can buy property in India and many Nepalese have sought sancturay under this provision to invest in India. If there are any doubts cast on this in the future, I figured those currently invested would just sell and get out. Duke1 - Not aware of forex scene in India. Seasons greetings to you all and best wishes for the new year! :)
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