Berkshire Hathaway Inc. on TSX

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Would you recommend taking a position on Berkshire Hathaway inc. on the TSE vs. the NYSE? Does the hedging of the TSE listed stock make it a poor choice?
Thanks.

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Asked on May 11, 2025 1:53 pm
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What is the stock symbol for the Canadian version of BRK/

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Posted by Anonymous
Answered on May 12, 2025 10:12 am
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This is all a matter of personal preference. The only difference here is the hedging.

I personally take all of my positions in USD. Because my time horizon is long, I don't really fuss too much about hedging as currency fluctuations tend to even out over time. So in the end you end up just paying the 0.6%~ annual hedging fee with the CDRs to get the exact same result currency wise.

Where hedging starts to factor in is when your time horizon is short and you can't afford big swings in currency to impact your investments. This is likely as you are closer to retirement. Another added element is if you are in retirement and predominantly use the CAD. In this case, it may make sense to keep it in CAD so you can utilize the money if needed to fund retirement and expenses.

Overall, it is a question I cannot answer directly because it all depends on the individual. CDRs have their use cases, the bulk of them being for those who are a bit closer to retirement. For those with 20-30 years left in their investing career, it ends up being a lot of fees paid for not much purpose.

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Posted by Dan Kent
Answered on May 12, 2025 6:47 am