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by ghariton
10 Dec 2017 14:21
Forum: Taxing Situations
Topic: Amazon.ca competitor falsified returns to shut me down. Reorganizing business.
Replies: 1
Views: 110

Re: Amazon.ca competitor falsified returns to shut me down. Reorganizing business.

I am not qualified to answer most of your post, and anyway this is the wrong forum for complaints about business relationships. The one bit of information I can supply is that an individual can have any number of private corporations, each with its own business number. So yes, you can have multiple ...
by ghariton
09 Dec 2017 17:23
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Are we too old, crusty and conservative
Replies: 14
Views: 381

Re: Are we too old, crusty and conservative

I'm thinking about adding a line in my IPS no individual stocks in registered accounts :? :lol: ... except, presumably, when executing Norbert's gambit. It may be that people here are conservative and crusty, or it may be that we have learned some lessons -- for most of us, the hard way. I still ha...
by ghariton
03 Dec 2017 14:09
Forum: Financial News, Policy and Economics
Topic: NAFTA is dead. So now what?
Replies: 22
Views: 1095

Re: NAFTA is dead. So now what?

So if NAFTA dies, as seems more and more likely, and Canada has torpedoed TPP Junior, by essentially walking out of the talks, what's left? China is a large economy, and better access to that market might go some way to mitigating the pain from the loss of NAFTA. So it's a good thing that Prime Mini...
by ghariton
30 Nov 2017 13:13
Forum: Financial Planning and Building Portfolios
Topic: Do bonds in RRSP/TFSA still make sense?
Replies: 36
Views: 1776

Re: Do bonds in RRSP/TFSA still make sense?

... Unfortunately given the negative return on bond funds lately ... For those who like market timing, the initial post written on September 28 was an excellent contrarian indicator. In October 2017, Vanguard's Canadian Aggregate Bond Index ETF (VAB) had a 1.65% return in a single month! It's weird...
by ghariton
26 Nov 2017 18:52
Forum: Retirement, Pensions and Peace of Mind
Topic: TFSA contribution 2017
Replies: 30
Views: 1857

Re: TFSA contribution 2017

Then there was at one time in the 90's independent firm Altamira. What a roller-coaster that was. I made piles of money (for the time), then proceeded to lose almost all of it. But was I discouraged? Not me. I piled into TD funds, especially their Science and Technology fund. I made piles of money,...
by ghariton
22 Nov 2017 21:39
Forum: Financial News, Policy and Economics
Topic: cryptocurrencies and mining
Replies: 26
Views: 1097

Re: cryptocurrencies and mining

And, if memory serves, weren't you a chief economist at BMO? Not that you should understand finance or money supply or anything like that. :roll: Bell Canada. I worked mainly in microeconomics, so currencies were a nuisance to be worked around, not something to be understood. The short description ...
by ghariton
20 Nov 2017 18:21
Forum: Financial News, Policy and Economics
Topic: Clippings 2017
Replies: 302
Views: 17792

Re: Clippings 2017

Reminds me of the mark-to-market debate of a few years ago. Should financial institutions be obliged to show their fixed income holdings at current market value, or should they be allowed to show them at book value (or face value)? "Progressive" thought wanted compulsory mark-to-market. This is what...
by ghariton
19 Nov 2017 21:56
Forum: Financial News, Policy and Economics
Topic: Clippings 2017
Replies: 302
Views: 17792

Re: Clippings 2017

I agree that retail investors can get a bad deal from a bond desk, especially if the bond is a corporate issue with little liquidity. But for government securities and a long expected holding period to maturity (over ten years), the markup isn't that bad. As well, I get to pick a duration that is co...
by ghariton
19 Nov 2017 14:08
Forum: Financial News, Policy and Economics
Topic: Clippings 2017
Replies: 302
Views: 17792

Re: Clippings 2017

Park Thank you for all the good clippings. As regards index funds for bonds, I must say that I don't see them as nearly as advantageous as index funds for equities. I think that I can get a better handle on riskiness for bonds than for equities. Basically, I see three risks with a bond: (1) Default ...
by ghariton
10 Nov 2017 22:33
Forum: Financial News, Policy and Economics
Topic: NAFTA is dead. So now what?
Replies: 22
Views: 1095

Re: NAFTA is dead. So now what?

Good news. It seems that there is agreement to negotiate a new TPP after all. In a major breakthrough, trade ministers from 11 Pacific Rim countries said they reached a deal Saturday to proceed with the free-trade Trans-Pacific Partnership deal that was in doubt after President Donald Trump abandone...
by ghariton
10 Nov 2017 18:55
Forum: Financial News, Policy and Economics
Topic: NAFTA is dead. So now what?
Replies: 22
Views: 1095

Re: NAFTA is dead. So now what?

One of the ways touted as mitigating the effects of an end to NAFTA has been new trade deals with other countries. A possibility is to renew efforts to implement the TPP, a treaty from which the U.S. has withdrawn, but to which there are still eleven signatories, including Canada. Of course, Canada ...
by ghariton
07 Nov 2017 13:35
Forum: Retirement, Pensions and Peace of Mind
Topic: Annuity
Replies: 18
Views: 885

Re: Annuity

yes you can buy them directly from insurance companies. Has anyone actually done this and if so, what insurance companies. Also, do you know if the price was discounted compared to what they offer if bought through an agent. I believe the agent has about a 2% cost to the annuity so I am wondering i...
by ghariton
05 Nov 2017 20:48
Forum: Financial Planning and Building Portfolios
Topic: Strip bonds or Bond ETF
Replies: 16
Views: 555

Re: Strip bonds or Bond ETF

I think that people worry way too much about bonds when their portfolio contains stocks. I share your opinion... as long as the bonds are rated A or better. In fact, the extra return for taking on credit risk is just not worth it to me, and I hold only government bonds. After all, I hold them to re...
by ghariton
02 Nov 2017 17:12
Forum: Financial News, Policy and Economics
Topic: Clippings 2017
Replies: 302
Views: 17792

Re: Clippings 2017

DenisD wrote:
02 Nov 2017 14:50
Maybe he means something like the average of the last 90 years?
Maybe so.

But I don't think that would be any more meaningful.

Unless he thinks that the economy of the 1920s and 1930s is a good guide to today's economy.

George
by ghariton
02 Nov 2017 14:32
Forum: Financial News, Policy and Economics
Topic: Clippings 2017
Replies: 302
Views: 17792

Re: Clippings 2017

Interview with Barry Ritholz on evidence based investing, apparently the latest big thing. (Because most investors have been investing without any evidence, based on hunches, or raw emotion, or whatever. Just a little condescending?) Here's a quote from Mr. Ritholz: I'm not going to argue by most m...
by ghariton
21 Oct 2017 22:30
Forum: Financial News, Policy and Economics
Topic: Interest rates
Replies: 6
Views: 356

Re: Interest rates

Generally speaking, price is what the seller is asking for. There may or may not be any buyers at that price, hence there may or may not be a transaction. Of course, the buyer is free to make public a price at which he is willing to buy. But that is much rarer. Although it does happen regularly in f...
by ghariton
21 Oct 2017 13:39
Forum: Financial News, Policy and Economics
Topic: Interest rates
Replies: 6
Views: 356

Re: Interest rates

Simplifying greatly, rising interest rates have two offsetting impacts on equity prices. First, conceptually at least, the price of a share is the present value of all future cash flows that the investor can expect to receive -- dividends, buybacks, and liquidation in the unfortunate event that this...
by ghariton
20 Oct 2017 13:45
Forum: Financial News, Policy and Economics
Topic: NAFTA Renegotiation
Replies: 63
Views: 3378

Re: NAFTA Renegotiation

:thumbsup: Indeed. Too freaking lazy to develop east and west market opportuinities. In fairness, the U.S. and Mexico were the only attractive markets to which our exporters had reasonably free access. When the U.K. joined the EU in 1972, that put an end to a very attractive potential market. But t...
by ghariton
20 Oct 2017 13:06
Forum: Financial News, Policy and Economics
Topic: NAFTA is dead. So now what?
Replies: 22
Views: 1095

Re: NAFTA is dead. So now what?

nobody really knows, so I'm going to continue to still to my plan and asset allocation as stated in my investment policy statement (IPS). :thumbsup: :thumbsup: :thumbsup: Anyway, even if I wanted to make changes (which I don't), I fail to see what those changes should be? Reduce my holdings of U.S....
by ghariton
06 Oct 2017 12:51
Forum: Financial Planning and Building Portfolios
Topic: Investing styles
Replies: 228
Views: 18935

Re: Investing styles

The traditional reason for buying the market was the lower cost of index funds. Perhaps. In my case, the reason for buying the market is diversification. I believe that is the point AltaRed is making as well. I believe that the stock market is essentially a random walk with upward drift. Some style...
by ghariton
05 Oct 2017 23:11
Forum: Financial Planning and Building Portfolios
Topic: Investing styles
Replies: 228
Views: 18935

Re: Investing styles

last few years What do the last few years tell us about anything? Not much, if you're trying to forecast financial markets. But if you look at longer historic periods, you start introducing data from periods that are increasingly different. So even long historic periods don't help very much in fore...
by ghariton
05 Oct 2017 21:56
Forum: Financial Planning and Building Portfolios
Topic: Investing styles
Replies: 228
Views: 18935

Re: Investing styles

Perhaps it should have been titled What Worked on Wall Street ... Yup. I saw an article recently (can't remember exactly where) that claimed that a style that enjoyed a period of great success often underperforms afterwards, because a whole bunch of people pile in and drive the price up to the poin...
by ghariton
05 Oct 2017 17:26
Forum: Financial Planning and Building Portfolios
Topic: Investing styles
Replies: 228
Views: 18935

Re: Investing styles

Why not? After all, he back-tested it and all. 'He' is a 'she' and she even talked to C. Asness about the CAT factor: I decided to get another opinion. For this, I conferred with Cliff Asness, founder of AQR Capital Management and a pioneer of factor investing. “Everything you can sort on can be a ...
by ghariton
05 Oct 2017 13:55
Forum: Financial Planning and Building Portfolios
Topic: Investing styles
Replies: 228
Views: 18935

Re: Investing styles

The number of investment styles is proliferating. And most of the new ones are referred to as "smart beta". I particularly liked this one , I’d just entered in an index built from companies with “cat” in their names -- yes, the furry felines -- hit a button and watched it back-test to an 849,751 per...
by ghariton
01 Oct 2017 21:35
Forum: Taxing Situations
Topic: Investment income in a CCPC
Replies: 877
Views: 73717

Re: Investment income in a CCPC

Anybody else will be looking at Individual Pensions Plans after the Morneau's fiscal reform? Catch the IPP wave https://retirehappy.ca/catch-the-ipp-wave/ IPP vs RRSP https://www.integris-mgt.com/publish/TaxLetter - IPP vs RRSP.pdf I looked onto IPPs some ten years ago, when there were three option...