Wednesday October 13, 2010RM Strategic Marketing Tips: Volume 10
Fall has officially arrived in New York. It’s one of the best seasons in our great city. Business is now picking up from the summer slow season.
With the recent downturn in the economy and the push to go green, I have been thinking about the advantages of eNewsletters over traditional printed materials. First of all, they are good for the environment. No trees are harmed in making eNewsletters. Second, they are relatively inexpensive to produce.
Our web and eNewsletter designer, Andrew Boardman reminds us, “because everyone has an email address, eNewsletters are here to stay and are rapidly surpassing paper newsletters. By using pixels and bits instead of ink and trees, eNewsletters create less waste and require less energy to distribute. Think green by sending green.”
My Tip for you: The holiday season is a good time to experiment with an eNews. Why waste money on paper while doing a disservice to our planet.
Best,
Robin Murray
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Rich White’s Tip
Currency Diversification for Cash
When clients are worried about stock returns and bond yields are low (like now), cash can pile up in their brokerage accounts. If you believe in diversification, why not suggest the possibility of diversifying brokerage account cash among currencies?
Here’s an example: About a year and a half ago, I decided to move part of the cash in my brokerage account from U.S. dollars into Canadian dollars. I did this by buying shares of the ETF Rydex CurrencyShares Canadian Dollar Trust (FXC). Performance of these shares mirrors any appreciation (depreciation) in the Canadian dollar vs. the U.S. dollar.
The idea is to diversify cash so it isn’t so vulnerable to weakness in the U.S. dollar, especially in times (like now) when the Fed seems intent on depreciating the dollar with another round of quantitative easing.
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