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John Shrall

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John Shrall last won the day on August 31

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    Ajijic 18 years
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    Photography, computers, tennis

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  1. Intercam offers 28 day promissory notes just like Multiva and probably others. They are interest bearing investments that can be rolled over and probably have a rate near CETES, but they are not CETES. Over the last month CETES paid between 9.89% and 10.2%. Check out your most recent 28 day Intercam rate. It is still better than anything offered in the US right now so whatever the rate it's still a good investment.
  2. Banks don't deal in CETES. NAFIN which is part of Hacienda is the only issuer of these instruments. Banks deal in promissory notes or CEDES which are the equivalent of Certificates of Deposit in the US. CETES are closer to US T-Bills issued by the government.
  3. A CETE is an investment like a CD with a fixed maturity period and interest rate, so no you cannot add to one already on the clock. The rate will go up and down depending on the market. A new auction takes place every Tuesday for all terms. You can transfer money in monthly so long as the total does not exceed $15,000 but you have to manually select the term and which date you want to make the investment. There is an option for reinvestment, but I haven't reached a maturity date so no idea how that works. If a CETE pays out the money is deposited into a BONDDIA account and added to current balance. After a CETE matures the principal plus interest less ISR is deposited into the BONDDIA account. You can also transfer more in and make a single investment for the total amount. Bottom line is that it's pretty manual as far as I can tell.
  4. The forecast is a 50 basis point increase in the next meeting 12/15. The last 4 increases were 75bp each. CETES have been steadily increasing but the rate of change is slowing. The 1 year CETE is only offered every 2 weeks now. The last rate was 10.87%. I was hoping the MXN/USD rate would return to 20:1+ but it's been steadily sliding toward 19 for a while.
  5. To check it out I opened an account online a couple of months ago. You need a CURP, RFC# and a bank from which money is transferred back and forth for investments and liquidations. CETE auctions generally occur every Tuesday. To make an investment you have to select a specific auction day and the amount you wish to invest. This is where things get a little convoluted. While their website says you can invest up to $10 million pesos, in reality you are allowed to transfer $15,000 pesos in a calendar month. If you want to invest more, you have to physically go to a Banco de Bienestar branch with the usual boatload of documents. While branches in Jocotepec and Chapala have been built, they seem to be abandoned at the moment so fulfilling this requirement requires a call to Mexico City to make an appointment at the single branch in Guadalajara. AMLO promises thousands of these "welfare banks" will be open by year end. My first CETE matures in a couple of weeks, so I'll find out how the payout and ISR works as well as reinvestment. Everything on the site as well as communication with support people is in Spanish
  6. This is an example of a filtration system with a UV light. One tank filters water using zeolite, the other is a water softener using salt from the tub on the right. Both backwash on a timer. There is also a carbon filter with an 8PM UV light. This setup is quite old but another I installed 8 years ago cost over $18,000 pesos just for parts. There are many options available, but I've seen this sort of setup a lot.
  7. A new option was added in IOS 16 purportedly to allow faster phone backup uploads to iCloud using LTE or 5G. The problem is that the new option defaults to the ON position meaning your phone might decide to initiate a backup when you're not connected to wifi. Yesterday I got a text from Telcel saying my cell data was all used up and that of course I could purchase more. My data was reset about a week ago at the end of the billing period so this option drained a month's worth in one week. If you upgrade (iPhone 8 and up only), check this option before you get surprised.
  8. Even if you hire a facilitator all they can do is to bring you to the door. They are not allowed in the building, only the one getting the license. With the new appointment system the line is minimal. With a computer and credit card you can make the appoint and payment online. Just bring the receipts, your old license and of course a CFE bill and you're ready to go. The wait for the new laminated license is longer than the wait to get in the building but not all that long.
  9. In any billing period you produce more electricity than you use, CFE places that amount as a credit into that bucket. If you produce more the next period then you are still charged the minimum with the excess put into bucket number 2 (of 6: 12 months). If you use more electricity in the following period, CFE subtracts the excess from bucket 1 which may or may not leave you a balance and if you use more than bucket 1 has it takes from bucket 2. If at the end of 1 year you still have credits from bucket 1, CFE takes them. No thank you provided. Buckets 2-5 move down and the current credit takes the most recent position. CFE will take previous month's credits so long as they exist. If you don't use them you lose them. I have a house in Guayabitos which overproduces solar and so even with running 7 tons of A/C in the summer and a huge pool heat pump in the winter I lose credits but pay only the minimum. Kind of a win-win but it still hurts paying CFE with excess electricity.
  10. I have accounts at both Multiva and BBVA. Each serves a different purpose with Multiva being the bank for investments and inbound wire transfers where BBVA is the commercial bank for ATM withdrawals, credit cards, interbank transfers and bill payer. Multiva requires a lot of paprwork meaning trips to the office. It’s generally for new fixed income investments. They are also lacking any sort of improvement to their online portal (which never changes) and their phone app (only updated for IOS changes). Many online functions are restricted to banking business hours. You can’t even view an investment account online during the weekend. BBVA has been regularly updating the PC portal making informtion easier to access. The app is also regularly updated now supporting Apple Face ID. Multiva’s login for example does not allow you to see what you typed for user name and password leading to many fat finger login errors. Very annoying. Each institution serves a purpose but BBVA is closer to a US bank like Capital One. I have only been to the BBVA branch to get cash, never having the need to talk to anyone. Not so much for Multiva.
  11. The only way to invest directly into CETES is through Cetesdirecto.com. Unfortunately, their rules are more convoluted than any 3 government agencies combined. While it is possible only after the fact do you find out that you are limited to $15,000 per month unless you bring a mound of paperwork to a Bienestar (Welfare) bank. AMLO says there are going to be 2,000 or more completed by year end but at this time there is only 1 in Guadalajara. You have to make an appointment to bring your papers. There are branches in Chapala and Jocotepec that have been started but the word is they are somewhat abandoned. If you are able to make the appointment and your papers are approved you can invest up to $10 million pesos in some undefined time period. For now after spending a lot of time asking questions, I've made a couple of investments. Time will tell if it's worthwhile. Multiva offers promissory notes and CEDES that are close to CETE rates but you need to invest $1 million pesos to get the highest rate.
  12. Yesterday's 1 year CETE auction crossed the 10% mark. The benchmark rate is expected to climb to 9% at the end of the month, another 50 basis point increase.
  13. Ajijic Weather - Home One point along the lake so your results may vary.
  14. We've made the trip to Texas over 20 times in the last couple of decades using all 4 possible routes. The prettiest and slowest was through the barrancas north of GDL heading toward Fresnillo. I think the AGS route is shorter and faster than SLP through Matehuala and less stressful except for that relatively short stretch around Saltillo. Everyone has their favorite route to get to Laredo. This just happens to be mine.
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