US Funds
It is very difficult to decide how to calculate my net worth with my US holdings (poker account and Paypal). Technically, it changes every day with the exchange rate. Of course it is impractical to change it every day so I will update periodically based on the current rate. So far I have been treating Canadian and US cash at par, but the Canadian dollar has been slipping this past year and is now only worth 77 cents US. Until further notice, my US holdings will be estimated at a rate of 1 US dollar=1.3 Canadian Dollars. Now that I have my visa bill, I can see the exact amount the $600 US was in Canadian dollars. It looks like I overshot a little bit since I have some cash currently tied up in watches. I can’t think of anything to do here, but represent my cash account as a negative number. When I finally withdrawl from my poker account, or if I sell some watches, this will be offset.
August 9th, 2009 at 3:50 pm
Arrived on your blog by accident! However it makes a fascinating read. Not that I know much about Poker but gambling interests me. Wonder how you are doing recently?
Suzie