The Foreign Account Tax Compliance Act (FATCA) is a U.S. law that took effect in 2010. It requires foreign financial institutions (like Swiss banks) to report U.S. connected people (e.g. passport holders and green card holders, even if they are residing outside the U.S.) to the U.S. Department of Treasury.
Today's guest is a very longtime friend of WHVP. Jeff Opdyke is an author at International Living and I'm very excited for today's conversation because we will not only touch upon Jeff's position as an author, but we will also talk about his passion, Bitcoin, cryptocurrencies, and the blockchain. He's extremely knowledgeable in this area and I can't wait to hear everything that he has to share about those topics.
After a tumultuous 2020 election season, President Biden has officially taken office. If you are a high-earner, here are 6 challenges that could arise during a Biden administration.
We see the rally at the stock markets continuing on. Despite the warnings of many economists and experienced investors, markets continue to rise further. Big tech companies that seem to lure people away from reasonable evaluation models lead the rally, just as we saw in 2000. To make matters worse, we see many young and inexperienced retail traders being swiped up in the frenzy, leading to events like the spike in companies like GameStop, AMC, and Blackberry. On top of that, we see ridiculous volatility in penny stocks and cryptocurrencies by people on the hunt for quick money. It looks like everybody is meant to be rich.
During the last week of January, investors on social media platform Reddit appeared to have created a short sale opportunity with GameStop, AMC and other shorted stocks. Now, it appears that something similar may be happening to silver - an effect many on Twitter are referring to as the #SilverSqueeze. If the “get rich quick” appeal of last week’s GameStop stock showdown has you wondering if you should be invested in another trending topic like silver, we’ve gathered some food for thought below.
GameStop made headlines this week as users on the social media platform Reddit invested heavily in the shorted stock. If you're considering making changes to your portfolio as a result, here's a reminder on diversification.
Jamie Vrijhof-Droese, Managing Partner WHVP Ltd, was a speaker at Bosco Online Workshop “Key strategies of Investments and Wealth Management” on January 14, 2021.
First of all, we wish you and your loved ones a very Happy New Year and would like to take the opportunity to express our gratitude for having such a loyal readership! If you feel that your family and friends could profit from our Swiss perspective as well, please feel free to share our newsletter. Also, if you feel that there are certain areas we should work on to provide even more value to you, please let us know!
As the coronavirus cases rise again in most countries, it has a stronger impact on our everyday life again. However, in comparison to the first wave, there is more hope that in the next months the virus will be under control. The news of promising intermediate results of a vaccine published last Monday was a huge relief. In addition, the chances for more positive news regarding vaccination tests are high. However, despite all the optimism there are challenges ahead of us that relativize the euphoria.
In this episode, David Warren – Co-Founder and Chairman of the Board of Bridgeford Trust Company and President/CEO of Bridgeford – sits down with guest, Jamie Vrijhof-Droese – Managing Partner at WHVP – for a discussion on WHVP’s origins, focus, and services as well as their work with U.S. citizens. David and Jamie go on to discuss the COVID crisis and its impact on their investment approach.
Can offshore investing protect your assets from stock market ups and downs? Jamie Vrijhof-Droese of WHVP explains benefits of offshore investing, what is involved, and how to get started.
While hope emerged during the last couple of months that things are getting better and life returns to normalcy, the current situation shows us that this is most likely not going to happen any time soon. It is very difficult to find good news these days and to anticipate these expectations about the future.
We continue to see a lot of uncertainty around the world. Last Tuesday Russia announced that they have a vaccination to treat coronavirus. However, many countries scrutinize the effectiveness and safety of the vaccination. The main criticism is the fact that the testing period started less than two months ago. We expect that it will take at least until the beginning of next year until a reliable vaccine is available for worldwide distribution. Consequently, international travel restrictions will continue to be in place for a while. Furthermore, we expect that during the months ahead, the volatility of the stock markets will stay high. Depending on the outcome of the Presidential election, this volatility could stay for quite some time into 2021.
COVID-19 was a shock and brought the world to a halt. Newspapers are still focused on the 8.1 million people infected by the virus. However, there are also about 4.5 million people that have recovered. Thinking about the remaining 3.1 million who still are infected, data shows that the symptoms are mild in over 90% of the cases.
European countries are taking steps to reopen the economy and social life. However, at the same time there are still new cases reported in China. CNN’s “Fear & Greed Index” clearly reflects the concerns of a second wave. The historic data from the Spanish flu is enhancing concerns and skeptical thinking. Back then, the second wave was much worse than the first. A second lockdown does not seem to be the solution, since people are already complaining in different regions of the world with some even organizing protest demonstrations. As of now, it is not clear as and when we will go back to a new normalcy.
First and foremost we hope that you and your loved ones are healthy and safe. We currently find ourselves in unprecedented and historic times. In addition to being stressed by the plummet of the stock market, we are all going through personal struggles and the fear of the unknown related to COVID-19. We are worried about the health of our family and friends and have to adapt to working from home while often simultaneously home school our kids. Every aspect of our lives has been turned upside down. We are feeling with you and wish you good health and optimism during these uncertain times!
The current focus is the coronavirus. This virus makes people think back to 2003 when SARS struck China and had a notable impact on the world’s economy. Making things worse since then, China is more inter-twined in the current global value chain and has grown from the world’s sixth-largest economy to the second biggest today.
Switzerland has long been the world’s top offshore financial center. And for good reason. Its sophistication and professionalism are legendary. Plus, it has a distinct history, tradition, and culture that sincerely values privacy, neutrality, and independence.
What a year… We remember well where we found ourselves a year ago and yes, we have to admit that we did not expect markets to have taken off the way they did… It was an eventful year. There were the trade wars, the riots in France, and Brexit. However, no geopolitical hot spot has been able to slow down enthusiasm in the markets.
By using an asset manager outside your own country, you gain a practical degree of financial privacy and asset protection. Since lawyers size up targets for lawsuits by looking for their money, someone considering suing you may decide to find a target with more visible wealth. In addition, a portfolio manager outside your domestic jurisdiction is likely to target different investments than a domestic manager would, leading to a greater investment diversification, and thus greater resiliency in your overall portfolio.