Search found 1760 matches

by DanH
19 Jan 2018 12:31
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Tangerine mutual funds 1% bribe
Replies: 7
Views: 526

Re: Tangerine mutual funds 1% bribe

If I had posted yesterday I'd have written how insulted I am for not having received the offer. I've been a client for > 20 years. I guess it took longer for the horse and carriage to deliver to Windsor because they arrived today (both for me + my wife). We won't be taking advantage of it but I want...
by DanH
17 Jan 2018 15:37
Forum: Financial Planning and Building Portfolios
Topic: $450K to invest for six months -- what would you do?
Replies: 29
Views: 775

Re: $450K to invest for six months -- what would you do?

I'd expect that in most years you'll see mostly fully taxable income. Until February 2016, CSD used an equity forward to re-characterize income. So pay no attention to distribution characteristics pre-2016. But I'd urge anyone tempted by CSD to really dig into it. It holds ~16% in term loans. Not li...
by DanH
17 Jan 2018 15:16
Forum: Financial Planning and Building Portfolios
Topic: How Did You Do in 2017?
Replies: 111
Views: 3938

Re: How Did You Do in 2017?

You could always insert a preferred ETF as a component of your benchmark to include the asset class. Or just chalk it up to a value-added active decision on your part!
by DanH
16 Jan 2018 13:59
Forum: Financial Planning and Building Portfolios
Topic: $450K to invest for six months -- what would you do?
Replies: 29
Views: 775

Re: $450K to invest for six months -- what would you do?

I would just game the CDIC coverage on a HISA and get somewhere like 2.30% and be happy with it. The only problem with this is one of timing/liquidity. While CDIC coverage effectively covers the credit risk of going with a smaller bank with more aggressive pricing (i.e. higher interest rates); thin...
by DanH
16 Jan 2018 13:55
Forum: Financial Planning and Building Portfolios
Topic: $450K to invest for six months -- what would you do?
Replies: 29
Views: 775

Re: $450K to invest for six months -- what would you do?

How many $K on the downside does it take to move the OP's needle?? To give a quick, clear answer: Suffering a $50K loss would not wreck us. I'd really rather not blow $50K -- but I suppose if the potential reward were compelling enough we would consider it. The key, I think, is finding a decent ris...
by DanH
13 Nov 2017 20:25
Forum: Financial News, Policy and Economics
Topic: How can Cash Flow be less than Earnings
Replies: 5
Views: 440

Re: How can Cash Flow be less than Earnings

The classic case study when I was in university was W.T. Grant Company. It's an extreme but interesting case study in earnings quality and the importance of careful cash flow analysis.

Added: Here is a presentation on the same topic.
by DanH
13 Nov 2017 20:10
Forum: Financial Planning and Building Portfolios
Topic: Robo-advisors
Replies: 55
Views: 6177

Re: Robo-advisors

True that most robo-advisor clients are unlikely to be affected by U.S. estate taxes based on either the new or old thresholds. But the bigger issue (in applicability, not necessarily magnitude) is how to invest for clients who are considered U.S. persons (and in turn have a U.S. tax reporting oblig...
by DanH
11 Nov 2017 09:07
Forum: Financial News, Policy and Economics
Topic: T plus two business days Starts Sept 5 2017
Replies: 28
Views: 1382

Re: T plus two business days Starts Sept 5 2017

I was also quite annoyed with the week-long hold on amounts I deposited into my bank account. At first they allowed access to the first $1,000 right away. Then I called to complain and they expanded that to $1,500. Then, without further urging from me they started giving me immediate access to all f...
by DanH
06 Nov 2017 20:56
Forum: Financial Planning and Building Portfolios
Topic: Strip bonds or Bond ETF
Replies: 16
Views: 642

Re: Strip bonds or Bond ETF

The thing is that the most likely time for the counterparty to fail its obligations is the exact time when one wants his bond holdings to fulfill their promises, during a bad crisis*. Let's not even think about what could happen to the "high-quality" collateral. Maybe this collateral is short-term ...
by DanH
06 Nov 2017 20:12
Forum: Financial Planning and Building Portfolios
Topic: Strip bonds or Bond ETF
Replies: 16
Views: 642

Re: Strip bonds or Bond ETF

Is there a Corporate Class fund which indexes the whole Canadian bond market no active management? No. HBB is as close as you're going to get. It's not a corporate class but it's just as good or better in terms of tax efficiency. If the Feds crack down on swaps of this nature (as they did with equi...
by DanH
06 Nov 2017 16:51
Forum: Financial Planning and Building Portfolios
Topic: Strip bonds or Bond ETF
Replies: 16
Views: 642

Re: Strip bonds or Bond ETF

why don't you use HBB instead of VAB? Counterparty risk? Synthetic ETFs defeat the whole idea of diversification. I'm not touching any such ETF with a ten-foot pole. (I'm allergic to derivatives; I won't touch currency-hedged ETFs either, because of their use of derivatives for hedging currency). I...
by DanH
21 Jul 2017 11:02
Forum: Financial Planning and Building Portfolios
Topic: Robo-advisors
Replies: 55
Views: 6177

Re: Robo-advisors

I've been following a periodic series of posts on Jon Chevreau's blog by an advisor who took $5k and invested it with an unidentified robo-advisor (whose name shall remain Wealth Simple ;) I'm only 99.9% of that). I have been surprised by the number of changes in holdings he has experienced. This is...
by DanH
19 Jul 2017 15:40
Forum: Financial Planning and Building Portfolios
Topic: Outstanding Financial Pornography
Replies: 636
Views: 110378

Re: Outstanding Financial Pornography

I'm with you on the indexes that are built specifically for product launches. We're quite some way from ETF numbers exceeding mutual funds. We have maybe 600 ETFs. Unique Canadian mutual funds might be in the 1,400 range. But at this pace of growth, we will get there in the next few years.
by DanH
19 Jul 2017 09:47
Forum: Financial Planning and Building Portfolios
Topic: Outstanding Financial Pornography
Replies: 636
Views: 110378

Re: Outstanding Financial Pornography

I don't think that qualifies as financial porn. IIRC, at least a few studies (I'm sure they are easy to find online) found that family controlled public company shares have meaningful outperformance vs. the broader market. No different than launching a value index or a momentum index or a low vol in...
by DanH
27 Jun 2017 21:12
Forum: Financial Planning and Building Portfolios
Topic: Dual Citizen (US/CAD) - Investing
Replies: 7
Views: 345

Re: Dual Citizen (US/CAD) - Investing

I believe U.S. citizens investing in PFICs inside of a RRSP is safe from an IRS tax liability/reporting perspective. But you should double check that with someone more qualified than me.
by DanH
27 Jun 2017 16:14
Forum: Financial Planning and Building Portfolios
Topic: Dual Citizen (US/CAD) - Investing
Replies: 7
Views: 345

Re: Dual Citizen (US/CAD) - Investing

It's always a good idea to get advice from a tax expert versed in cross border taxation. Generally, it's likely a good idea for dual citizens (or any U.S. citizen) to avoid investing in investment funds that are domiciled or resident in Canada (i.e. mutual funds, exchange traded funds, pooled funds,...
by DanH
21 Jun 2017 17:16
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Home Capital Group (Symbol-HCG)
Replies: 265
Views: 15848

Re: Home Capital Group (Symbol-HCG)

You [randomwalker] are positing a 50% haircut on the value of Home's non-insured residential mortgage book, which is not the same thing as a 50% decline in housing prices. Bingo. Definitely a risk since Home seems to be heavily exposed to the 905 area code but not the equivalent of the loan book be...
by DanH
21 Jun 2017 10:08
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Home Capital Group (Symbol-HCG)
Replies: 265
Views: 15848

Re: Home Capital Group (Symbol-HCG)

There has been virtually no news that suggests their mortgage portfolio is significantly impaired. Their problems relate to a lack of confidence of depositors. 50% haicut? That's quite a stretch. . Any way to spin this as a "bail out"? It's not 'news' per se but if the stream of Twitter posts from ...
by DanH
20 Jun 2017 22:56
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Home Capital Group (Symbol-HCG)
Replies: 265
Views: 15848

Re: Home Capital Group (Symbol-HCG)

But this deal does not involve residential mortgages. It appears to be all commercial mortgages - which is more in line with KingSett's focus. KingSett has taken advantage of various forms of motivated selling in the past - e.g., KingSett/AIMCo close ING Summit deal ; KingSett/AIMCo buy half of Scot...
by DanH
20 Jun 2017 14:27
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Home Capital Group (Symbol-HCG)
Replies: 265
Views: 15848

Re: Home Capital Group (Symbol-HCG)

KingSett is indeed a very savvy institutional real estate investor. They can be aggressive at times - when warranted - but they don't mess around with low quality or distressed loan assets. If they've purchased assets I would assume the quality is very good. But a very fair concern re: what's left.
by DanH
13 Jun 2017 17:58
Forum: Financial Planning and Building Portfolios
Topic: Taxable Account Planning - US Expat
Replies: 24
Views: 1294

Re: Taxable Account Planning - US Expat

Oops...didn't even notice the date. Thanks for pointing that out. But I still want to know how a family of three is living on $3k monthly when rent along has to eat up most of that.
by DanH
13 Jun 2017 14:27
Forum: Financial Planning and Building Portfolios
Topic: Taxable Account Planning - US Expat
Replies: 24
Views: 1294

Re: Taxable Account Planning - US Expat

Hi there, First time poster here. I have some investing/overall planning questions that I hope I can get some advice with here. I appreciate any and all input. Background Information -Age: 30 -US Citizen working and living in Vancouver BC, Canada. I have a 2 year old son and my wife is also a US Ci...
by DanH
08 Jun 2017 11:43
Forum: Financial Planning and Building Portfolios
Topic: Fee Based advisor Expectations
Replies: 31
Views: 1064

Re: Fee Based advisor Expectations

Norm and I (and possibly Dan) have argued for years that the best approach for the uninterested is not a couch potato portfolio but a low cost balanced fund. (I say this having tried to educate my sister in portfolio allocation principles.) Definitely Dan! ;) It's been at least ten years since I wa...
by DanH
07 Jun 2017 16:45
Forum: Financial Planning and Building Portfolios
Topic: Fee Based advisor Expectations
Replies: 31
Views: 1064

Re: Fee Based advisor Expectations

Yes, directed at you AltaRed. I don't want to hijack this thread but I have very mixed feelings about the MoneySense list because it's based on a model of advisors/firms paying a significant fee to be reviewed and to be on this list. We were asked and we respectfully declined. So it's a good start a...