Search found 560 matches

by Clock Watcher
26 Nov 2010 23:48
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Frustrated by the U.S. dollar
Replies: 67
Views: 2707

Re: Frustrated by the U.S. dollar

MaxFax wrote:It has been the reality for the last few years that the US dollar gains when securities are tanking and vice versa. This means things will always be working against you.
My experience was the exact opposite, I thought I was pretty smart when I bought in April 2009, only to see a significant portion of those profits offset by the currency loss. Also, the S&P500 is near a 2 year high, whereas the greenback is near a 2 year low. Currency trends, once in motion, tends to last for decades.
by Clock Watcher
26 Nov 2010 12:23
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Frustrated by the U.S. dollar
Replies: 67
Views: 2707

Re: Frustrated by the U.S. dollar

The value of your original purchase is hedged. So if you sold it later for the same price you would have no gain or loss from FX. But the investment will change in price in the interim and for the final sale. That change in value is not hedged. When you realize the (say) profit on sale, and repatriate the $$ of profit, you receive the then-current FX rate. Your return in Loonies will not be the same as the American owning the same investment. Start cash $1000 Loonies FX at start 0.95 Buy US security costing $950 US on margin in US account. Investment sold later for $1,235 giving the American a 30% profit = $285 US You repatriate profit only because the rest pays off debt. FX at end = 0.85 means the US dollar has gained 11.7 % (95/85 -1). T...
by Clock Watcher
26 Nov 2010 04:09
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Frustrated by the U.S. dollar
Replies: 67
Views: 2707

Re: Frustrated by the U.S. dollar

Suppose that my IB account has $100K in Canadian cash, and nothing else. For simplicity, assume that the dollar is at parity. If I now buy $100K in U.S. stocks on margin, and keep the Canadian cash as is, have I created a full currency hedge?
by Clock Watcher
22 Nov 2010 20:15
Forum: Community Centre
Topic: Alternatives to Cable & Satellite TV (Apple TV / FTA / etc)
Replies: 116
Views: 2813

Re: Alternatives to Cable & Satellite TV (Apple TV / FTA / e

You are so fortunate. In Edmonton, we have no OTA HD channels.
by Clock Watcher
21 Nov 2010 14:14
Forum: Under the Mattress: Protecting Your Money
Topic: Deposit, GIC and MMF rates: ING, Ally, PC, etc (2010)
Replies: 398
Views: 31312

Re: Deposit, GIC and MMF rates: ING, Ally, PC, etc (2010)

Pickles wrote:
Clock Watcher wrote: It appears that with Ally, any GIC that is 12 months or longer has no penalty of any kind when redeemed, including accured interest. Their 5yr GIC is 3.3%, 1yr is 1.75%, so why would anyone buy the 1yr one? Just buy the 5yr, redeem it after 1yr and still get 3.3%.

If this is really the case, I am redeeming all of my TFSAs, and moving them to Ally in January.
Not the case. No penalty (ie: set fee), true; full interest on early redemption: only for 12 month GIC. Read early redemption sections carefully and click on links to find adjusted interest.
Thanks, the early redemption rate is 1.5%. This is all I am getting with my HISA at ING, so I will probably redeem and transfer.

Thanks Jeremy for your idea.
by Clock Watcher
21 Nov 2010 13:59
Forum: Under the Mattress: Protecting Your Money
Topic: Deposit, GIC and MMF rates: ING, Ally, PC, etc (2010)
Replies: 398
Views: 31312

Re: Deposit, GIC and MMF rates: ING, Ally, PC, etc (2010)

jeremy wrote:
Clock Watcher wrote: Depending on how one uses an emergency account, another option could be a redeemable GIC from Ally. You get the upside of a higher rate if you don't need the money, and a 1.5% rate if you take the money out early.
Thanks Jeremy for pointing this out. It appears that with Ally, any GIC that is 12 months or longer has no penalty of any kind when redeemed, including accured interest. Their 5yr GIC is 3.3%, 1yr is 1.75%, so why would anyone buy the 1yr one? Just buy the 5yr, redeem it after 1yr and still get 3.3%.

If this is really the case, I am redeeming all of my TFSAs, and moving them to Ally in January.
by Clock Watcher
21 Nov 2010 13:42
Forum: Community Centre
Topic: Bell Hell
Replies: 375
Views: 11166

Re: Bell Hell

Serenity wrote:To prevent future billing or poor service issues, the following rules are advisable:

Rule 1. Don't sign contracts.

Rule 2. Hang up on telemarketers.

Rule 3. Use alternatives for services (eg. Teksavvy) wherever possible.

Rule 4. Check your bills for errors/omissions and question the company responsible.

Bell, Rogers and the rest are just taking advantage of the average consumers gullibility and laziness.
Excellent advise. I would add to this list "never allow them to auto-withdrawal payments from your bank account". The funny thing is I find that I have to be extra cautious only with Canadian telecom companies. All other companies I deal with, I find fair and honest.
by Clock Watcher
20 Nov 2010 19:55
Forum: Under the Mattress: Protecting Your Money
Topic: Deposit, GIC and MMF rates: ING, Ally, PC, etc (2010)
Replies: 398
Views: 31312

Re: Deposit, GIC and MMF rates: ING, Ally, PC, etc (2010)

Thank you Jeremy for pointing this out. Their HISA 2.1%, and TFSA HSIA of 3% makes them the highest that I know of. BTW, I can only find their service fee schedule for savings accounts. Does this mean there are no fees of any kind on their GICs? You're welcome. I probably should have mentioned their savings account and TFSA in my previous post, as they also have decent rates. I don't know of any fees related to GICs other than the early redemption fee mentioned in their FAQ . What other types of fees are you expecting to find? For the HISA, inactivity fees. This is important because some people just put money into a TFSA-HISA and never touch it again unless there is an emergency. It has been over 20 years since I last purchased a GIC, so I...
by Clock Watcher
19 Nov 2010 09:39
Forum: Under the Mattress: Protecting Your Money
Topic: Deposit, GIC and MMF rates: ING, Ally, PC, etc (2010)
Replies: 398
Views: 31312

Re: Deposit, GIC and MMF rates: ING, Ally, PC, etc (2010)

jeremy wrote:Peoples Trust offers some (relatively) good GIC rates (especially for a CDIC-insured institution) to their existing customers:

1 year 2.200
2 year 2.600
3 year 3.000
4 year 3.100
5 year 3.450

You can see the current rates at https://thebestrate.peoplestrust.com. The user name is peoples and the password is trust. There's no online banking, but they have a web form that you can use to open accounts.
Thank you Jeremy for pointing this out. Their HISA 2.1%, and TFSA HSIA of 3% makes them the highest that I know of.

BTW, I can only find their service fee schedule for savings accounts. Does this mean there are no fees of any kind on their GICs?
by Clock Watcher
17 Nov 2010 21:54
Forum: Community Centre
Topic: Bell Hell
Replies: 375
Views: 11166

Re: Bell Hell

Norbert Schlenker wrote:But quite honestly, WTF?!?! It makes me wonder if they post random charges against bills without plausible explanation all the time.
I am convinced that they do. I used to get all these small ($0.50) charges for features I never used, so I had them disabled all the special features on my line. The same thing happens to my mother, one of these days I will call in and have everything disabled for her as well. I think most people either don't notice or don't bother to call. All the errors are always in their favor, not once was it the other way. It has gotten to the point where I don't trust any of the telecommunications companies, and I won't let them do auto withdrawals from my bank account.
by Clock Watcher
11 Nov 2010 15:11
Forum: Under the Mattress: Protecting Your Money
Topic: TFSA Account Offerings & Questions
Replies: 945
Views: 137559

Re: TFSA Account Offerings & Questions

they have a $20 fee after 2 years of inactivity So if you buy a 3+ year GIC and that's all you have in your TFSA they're going to charge you $20/year? :shock: No, you have a too narrow view of what activity means: Products Terms & Conditions Your Savings Account will be considered inactive if you neither complete a transaction nor request an account statement for 2 years. If your Savings Account becomes inactive, we may require that you contact us and present acceptable proof of your identity and address to reactivate it. If your Savings Account remains inactive, we will send you a notice after 2 and 5 years of inactivity and, after 10 years of inactivity, the amountin your Savings Account will be transferred to the Bank of Canada and ...
by Clock Watcher
11 Nov 2010 01:38
Forum: Under the Mattress: Protecting Your Money
Topic: TFSA Account Offerings & Questions
Replies: 945
Views: 137559

Re: Canadian Tire fee

Pickles wrote:
Clock Watcher wrote:Canadian Tire charges $50 to transfer a TFSA to another institution. Is there a fee if I simply transfer money from the CT TFSA to the CT high-interest savings account?
That's not a transfer, that's a withdrawal.
Thanks. I notice they have a $20 fee after 2 years of inactivity. I think most people just leave their TFSA accounts untouched after opening it (unless they make another contribution), so that fee will likely apply.
by Clock Watcher
11 Nov 2010 00:29
Forum: Community Centre
Topic: Alternatives to Cable & Satellite TV (Apple TV / FTA / etc)
Replies: 116
Views: 2813

Re: Alternatives to Cable & Satellite TV (Apple TV / FTA / e

c emptor wrote:
Isn't this the way private enterprise works?
If you don't like our system Dennis there are a few countries where you might be happier. :twisted:
Looks like cutting the cable (satellite) TV cord is more than just a Canadian phenomena. 500K subscribers lost in the U.S. in the last quarter, accelerating the trend that started earlier this year. http://gigaom.com/video/big-cable-is-bl ... t-quarter/
by Clock Watcher
10 Nov 2010 12:39
Forum: Financial News, Policy and Economics
Topic: Quantitative easing - a new black swan?
Replies: 77
Views: 5749

Re: Quantitative easing - a new black swan?

Shakespeare wrote:
A German reader suggests that Reuters improperly translated the German adjective "ratlos" which literally, that means "helpless", "at a loss what to do", "baffled", "perplexed", as opposed to "clueless".
How can the Fed solve the deficit if the politicians won't - either than by devaluing?
But then they are turning America's problems into the world's problems.
by Clock Watcher
10 Nov 2010 05:06
Forum: Under the Mattress: Protecting Your Money
Topic: TFSA Account Offerings & Questions
Replies: 945
Views: 137559

Canadian Tire fee

Canadian Tire charges $50 to transfer a TFSA to another institution. Is there a fee if I simply transfer money from the CT TFSA to the CT high-interest savings account?
by Clock Watcher
06 Nov 2010 21:24
Forum: Community Centre
Topic: Gmail Vs Yahoo Mail Vs Hotmail
Replies: 237
Views: 6825

Re: Gmail Vs Yahoo Mail Vs Hotmail

Bylo Selhi wrote:My utility bills are also on the utility' companies' server. Do you think I trust Bhell more than Google?
Good point. I trust Google about an order of magnitude more than I trust Bhell :lol:
by Clock Watcher
06 Nov 2010 19:05
Forum: Community Centre
Topic: Gmail Vs Yahoo Mail Vs Hotmail
Replies: 237
Views: 6825

Re: Gmail Vs Yahoo Mail Vs Hotmail

Thanks Bylo. As for privacy, are you comfortable with your utility bills (for example) being on their servers? For myself, I still get some utility bills hardcopy, but I shred those. I started doing that ever since some companies started asking for utility bills to verify identity/address (for example, with interactivebrokers so they can mail quarterly statements to my mother whose account I manage).
by Clock Watcher
06 Nov 2010 17:48
Forum: Financial Planning and Building Portfolios
Topic: How are you preparing for another financial disaster?
Replies: 139
Views: 6665

Re: How are you preparing for another financial disaster?

Happyboy wrote:First, I've moved about half of my XIU holding to more dividend producing sectors. Should the market move sideways over the next while, I will increase my income.
Have you back-tested this? If I remember correctly, the DJ Utilities Average did not fare much better than the overall market 2 years ago.
by Clock Watcher
06 Nov 2010 17:43
Forum: Financial Planning and Building Portfolios
Topic: STOP LOSS TO LIMIT DOWNSIDE
Replies: 23
Views: 1731

Re: STOP LOSS TO LIMIT DOWNSIDE

I believe that our investment approach is a reflection of ourselves. I will always sell a stock that has fallen below my "threshold", which is in line of with my overall cautious approach to everything in life. For example, I decided to stay with the government at a time when many of my peers went to the private sector and made a killing (and are still).
by Clock Watcher
06 Nov 2010 17:29
Forum: Community Centre
Topic: Gmail Vs Yahoo Mail Vs Hotmail
Replies: 237
Views: 6825

Re: Gmail Vs Yahoo Mail Vs Hotmail

I have decided to get a mail account that is independent of my ISP, so when I switch, I don't have to give all my friends a new address. OTOH I want to store the messages on my computer instead of in a cloud. I assume I can do this with gmail, but how well does it work? It seems to me that part of the business model is to keep the messages on their servers so they can do data mining for advertising purposes.
by Clock Watcher
02 Nov 2010 12:58
Forum: Retirement, Pensions and Peace of Mind
Topic: PSAC severance change
Replies: 14
Views: 2050

Re: PSAC severance change

Your wife should consider whether to accept this tentative offer. Last year I rejected a job offer in the private sector. The salary was significantly higher, as would have been the job satisfaction, plus they had stock option for their employees. The 2 main reasons for my decision was the credit quality backing the superannuation plan (lender of last resort), which is important when the time span is in the decades. Plus the overall retirement benefits. 10 years ago, staff were leaving the government for the private sector in droves, and they hated their pensions (imaginative schemes were dreamt up for getting out of them). In fact, government employees were look upon almost with pity. Cycles come and go, but once you bargain away your reti...
by Clock Watcher
31 Oct 2010 13:13
Forum: Community Centre
Topic: Alternatives to Cable & Satellite TV (Apple TV / FTA / etc)
Replies: 116
Views: 2813

Re: Alternatives to Cable & Satellite TV (Apple TV / FTA / e

Before you guys get too infatuated with the idea of watching TV by streaming video over the Internet, whether from Netflix or iTunes or even YouTube, be aware that the incumbent cable and DSL carriers are doing their best to thwart you if you try and rape you if you do. Both Robbers and Bhell have recently drastically reduced the amount of bandwidth that they include in monthly plans and increased the amount they charge if you exceed those low thresholds. Now the latest shoe to drop is the CRTC decision mentioned in this post .] Shaw also, but they are being more low-key about it, even though it is potentially much more expensive at $2/GB: http://www.dslreports.com/shownews/Shaw-Confirms-Plans-To-Charge-Per-Gig-Overages-111131 I think all ...
by Clock Watcher
30 Oct 2010 12:29
Forum: Financial News, Policy and Economics
Topic: Quantitative easing - a new black swan?
Replies: 77
Views: 5749

Re: Quantitative easing - a new black swan?

$seeker wrote:What is the stated goal of QE?
Having lowered interest rates to levels where they can no longer find buyers for their treasuries, they are now buying their own (ie. printing money).
by Clock Watcher
30 Oct 2010 01:59
Forum: Financial News, Policy and Economics
Topic: Quantitative easing - a new black swan?
Replies: 77
Views: 5749

Re: Quantitative easing - a new black swan?

IMO the immediate effect of QE is deflation. For example, why take the risk of holding T-bills when there is almost no cost difference between that and holding cash? Therefore, the effect of QE is to remove money from productive enterprise and into bank reserves.

Predicting Fed action is not difficult, just ask the simple question "will it benefit Goldman Sachs?". QE2 will benefit GS because they get to keep the spread. It has nothing to do with stimulating the economy, even though that is the official line.