Old Dec 9, 06, 11:27 am
  #61  
Teacher49
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Join Date: Jan 2004
Location: San Francisco
Programs: AA 3mm Plat
Posts: 10,070
All my time in Europe - 2 - 4 months per year - is for business. I learned the hard way to insist on my fees being stabilized by being paid in US dollars. Each of my project lasts four years.

When the Australian dollar plummeted in the late 90's, I gave some ground to those who were paying the fees. It did prevent a renewal, though, as they could not afford to pay in US dollars and I could not afford to work for what they could pay.

In Europe, I work in partnerships. So my line item fees are paid at the moment in cheap US dollars leaving more CHF and Euros for a later split as profits. Good for me both all ways: stable base income, better profits when the dollar slides.

The part of my stays there most like that of a tourist have to do with my own retail purchases and daily expenses. For that I have created a small pool of funds there so that some local currency stays as local currency.

Penny ante hedge funds, I suppose you could say.

Net: a falling dollar is good for me.
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