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Additional clarification on US dividends:
_ at a Swiss broker it is 2×15% (Swiss and American tax)
_ at IB it is only 15% since obviously the Swiss withholding tax is not collected. On the other hand, we are taxed when declaring…Hi,
For FR (or other foreign country outside the USA):
– seeking reimbursement is indeed very complex, slow and does not bring much in
– it is therefore better as you have done via the flat-rate imputation which avoids double taxation
– the amount is not reimbursed but is deducted from the tax payable (as for the Swiss withholding tax)For the USA: the withholding tax must be split into two parts of 15% each in the declaration. 15% for the US tax authorities and 15% of additional withholding. The latter is recoverable and is deducted from the tax to be paid.
For UK: yes indeed but you will obviously be taxed on income, which ultimately does not change much. And then it would be a shame to close the door to other titles with potential for tax reasons which ultimately carry very little weight in the balance.
A +
Hi,
Not sure about 100% but in my opinion they are still taxed at source for foreign tax.
And as you say, not great in terms of volume.
I've never been very keen on these replications.Hi,
Thank you for your comment.
Here are my answers:
– Relying on a real return of 7% seems a bit ambitious to me. Especially since the more securities you have to part with to finance your annuity, the less return you will have. Personally, I calculate with a maximum of 5% per year (real).
Be careful not to confuse dividend yield and portfolio profitability. Profitability does not change, even when you sell securities (nor does the dividend yield in percent). The real profitability of 7% is that of the stock market on average over the long term. It is also the one I have had on my investments since 2010. Since the introduction of the determining PF (from 2020), I expect an increase in this annual profitability, to reach 16%. For the moment, it is lower, given the market conditions, but the PF is not performing so badly. I will soon be doing a review of the first half of the year, which is very rich in lessons!
To this day I have not found the person who can do this (be hyper versatile, diplomatic, know economics and accounting, have the entrepreneurial flair etc.). And I will add that for a sole shareholder like me, I would never really be "without worries".
Yes, you are right and it is a real problem. I know several entrepreneurs in the same situation as you.
– Broker: Historically, my stock PF is with Tradedirect from BCV. I find it a little behind compared to swissquote or others. But given my strategy, that's enough for me. And it's still a cantonal bank behind it... Personally, I avoid brokers abroad (freezing of assets in the event of a serious diplomatic problem, bankruptcy, etc.). Is anyone else with Tradedirect? The tax statement fees seem exaggerated to me (around 500 francs for 40-50 positions)
I am an old defector from BCV and e-sider (ancestor of tradedirect). I left in particular because of the fees. For buy & hold it can indeed work. And yes, 500 bucks for a tax statement is theft. Even Postfinance is cheaper (100 bucks).
– French stocks: I have some nice French dividend stocks (total, sanofi, danone, bouygue etc). But after my calculations, the French withholding tax of 30% is purely lost. Right? These positions are worth 5000-8000 EUR each.
Lost, not quite. Either you apply for reimbursement from the French State, but it is a complicated, slow procedure and you only get a small amount, or, much simpler, you ask for a flat-rate deduction on half of the amount, via your annual tax (the other half is already withheld by the Swiss tax authorities). It is much simpler and it prevents you from being taxed twice. The two amounts withheld at source (Swiss and French part) are then deducted from what you owe on your annual tax.
Courage to those who will have to get up tomorrow morning (including me)
I will be united, I also stand up for my kids 😉
Hello and welcome,
Here are some links that may provide answers:
Thank you Yakari for this valuable information. It confirms what I thought intuitively, without going into as much detail as you did. It's nice of you to share your conclusions, in any case, and it reinforces my choice. I'll have to see if there are other avenues to explore.
Hi,
Apparently it's a newly listed company with negative momentum and losses.
So it's a pure gamble on the future. I'm not saying you can't make money with it, but you can also lose a lot, and that's more of a lottery than an investment.
At least at this stage.
A++
Hi
Indeed, there are several red flags:
– high market level as rarely in the past (cf. PE Schiller Ratio And Buffet Ratio)
– threat of inflation (already very present in the USA), of rising rates and unemployment (recently rising in the USA) => risk of stagflation.
However, it is always difficult to make sound predictions. The market can still rise for a long time before falling, or it can collapse tomorrow.
The simplest in context, and as always, is:
- of diversify, not only the actions, but Above all asset classes
– to buy at a good price, and to sell off speculative stocks, which are almost all stocks, except in Japan.
– to adopt a capital protection strategy, by limiting losses.
A+
Jerome
There are two payment options at IB, either to a foreign IBAN or to a Swiss IBAN.
It is possible that from ZAC you use the Swiss IBAN. Obviously, from Swissquote you use the foreign IBAN.
Hi,
I don't have a Swissquote account, so it's difficult for me to answer you.
Can you tell us a bit more? When does the blocking happen? Do you receive an error message? To which IB account do you transfer the funds (Swiss or foreign IBAN)? Is the problem only when transferring dollars or also in CHF?
Thanks for sharing. I am always wary of bankers' opinions, for the simple reason that they have obvious conflicts of interest, depending on the investments they are involved in. So, when it comes to an opinion about their own bank, I am even more wary!
That being said, I find the elements you cite surprisingly quite neutral. They explain at least part of the negative pressure on the share price. I still think, however, that the momentum is not optimal and that it is better to let this negative spiral settle down before considering entering it.
Hello French-speaking,
I noticed that four institutional investors, including Vontobel, sold 350,000 shares in the first half of the year. One institutional investor even sold his entire position (Fundlogic).
I would stay on standby. Sure, the yield is good, but the momentum is not very good. The price is likely to continue to fall for some time. It is never good to try to compete with the crazy people who always have inside information on us, the retail investors.
I don't see anything formally worrying in terms of fundamentals based on the previous financial year. The debt is certainly a little high for a financial company, but the bank is generating a fair amount of liquidity to deal with it.
So we'll have to watch what happens in the coming months. Either the departure of institutional investors means nothing and the stock can be bought at a good price and with a good yield. Or something really is happening, and we're dealing with a Yield Trap, which unfortunately sometimes happens, particularly with banking stocks.
if our banking expert dividinde is around, gladly for his opinion
Small update on cornertrader, after a month of use.
The customer service is top notch. The various people I have spoken to are always very friendly and very solution-oriented for their customers. They have been able to respond to my specific requests each time, while always being very responsive.
I was able to open accounts in various currencies, which allows me to avoid the rather prohibitive exchange fees. The total transaction costs are significantly reduced. We certainly cannot compete with IB or DG, but it remains competitive, especially compared to what is available on the Swiss market.
I placed my first two orders in this way, on small, illiquid companies, and I didn't encounter any particular problems. Of course, you can't find all the micro-caps there (unlike IB), especially Japanese ones, but the choice is still pretty good. In any case, I found some companies there that I couldn't find at DG.
The interface, as already pointed out, is really great. It is both simple and complete. There is a transaction cost simulation option that I find great and very transparent for users. No hidden fees!
On the slightly negative side, it's a shame that you can't change currencies between currency accounts directly via the platform. You have to contact your advisor. It's a bit amateurish. It's tedious and you waste a bit of time. If you're in a hurry to place an order on a stock for which you don't have cash in your currency, you can still buy it by going into the red on that currency. Then, you have to contact your advisor so that he can make the change. Fortunately, he does it quite quickly, during the day. But it's still a bit cumbersome as an approach.
In the same vein, to withdraw your money, you also have to contact your advisor. It's a bit annoying when you're living off your capital, which is soon to be my case. But it's manageable.
In short, after the first bad surprises, I am generally quite happy with corner. This broker does not lack much, at least compared to its Swiss competitors. If we could change currencies and withdraw our money directly online that would be great. This will certainly be a proposed development in the future, because it should not be very complicated to set up and it would free their advisors from unnecessary tasks.
@Brother: thanks for the tip 😉
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