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by zinfit
27 Nov 2014 08:19
Forum: Under the Mattress: Protecting Your Money
Topic: Taxis and Uber
Replies: 62
Views: 5393

Re: Taxis and Uber

fundy48 wrote:
big easy wrote:It was reported that a taxi license in Vancouver is worth $1 million dollars. Not sure if that's true but reminds me of the dairy industry where the quota to own dairy cows sells for six figures per cow ($100-200k if memory serves).
Off Topic- but: That dairy figure is seriously inflated. More accurate figure would be $20 - $25 K per cow.
Probably right. It doesn't make sense to own a milk cow without the quota. I know a dairy farmer who has paid 3 million for the quota for 100 cows. A taxi wouldn't cost much more then a regular vehicle. It would be fairly useless without the taxi license.
by zinfit
27 Nov 2014 08:14
Forum: Under the Mattress: Protecting Your Money
Topic: Taxis and Uber
Replies: 62
Views: 5393

Re: Taxis and Uber

big easy wrote:It was reported that a taxi license in Vancouver is worth $1 million dollars. Not sure if that's true but reminds me of the dairy industry where the quota to own dairy cows sells for six figures per cow ($100-200k if memory serves).

In truth, Uber is more than just an app putting drivers and drives together - they set rates, collect payment, pay and enlist drivers. I wonder how drivers deal with insurance? Don't you need special insurance for such a commercial enterprise? I bet Uber isn't bothered about that.
Uber has a blanket insurance policy covering it's drivers. I believe it's 5 million per driver.
by zinfit
26 Nov 2014 19:05
Forum: Under the Mattress: Protecting Your Money
Topic: Snowbirds and Cell Phones
Replies: 63
Views: 11481

Re: Snowbirds and Cell Phones

Springbok wrote:We still have our home Bell landline, so just started to look at alternatives. We have Skype and Paygo cell phones, so presumably we would go to some type of VOIP. I am sure this is covered elsewhere on FWF and on web and I will do research there.

Did look at Fongo review, but although it looks interesting, review didn't instill confidence. I recall now that I once tried it when it was Dell Voice. Seemed they had a rocky start.
I bought an unlocked google android phone for $479 and I buy a pretty solid monthly plan for $30 per month from T -Mobile. Will have to find a provider in Canada come spring. Anyone have a suggestion? Virgin
by zinfit
26 Nov 2014 18:23
Forum: Under the Mattress: Protecting Your Money
Topic: Taxis and Uber
Replies: 62
Views: 5393

Re: Taxis and Uber

The price is high because demand outstrips supply presumably because NYC controls the number of new plates issued. "An auction was held in 2006 where 308 new medallions were sold." That's a drop in the bucket of "13347 regular medallions." I'd be surprised if the investment companies that own the medallions and who sell them to one another object to their high prices. But they probably do object to the characterization that they're the ones who are "screwing" the "hacks."... Again the people who are making out like bandits aren't the ones sitting in swivel chairs at city hall. I suspect you are probably right. Although it seems strange to me that the city would artificially regulate supply beneath de...
by zinfit
24 Nov 2014 10:12
Forum: Taxing Situations
Topic: Cost of investing newsletters and research sites.
Replies: 6
Views: 691

Cost of investing newsletters and research sites.

I spent money on Globeinvestor and specialized research reports on preferred shares. I have not been deducting these items. Can they deducted if one has income,dividends and/or capital gains from a taxable account?
by zinfit
23 Nov 2014 01:12
Forum: Financial Planning and Building Portfolios
Topic: What % in equities.
Replies: 66
Views: 4397

Re: What % in equities.

Hi Ig17, That's what makes the whole investing thing interesting, its a little bit like religion once you have some sunk cost in it, you think everyone else should understand how/why you think the way you and it it is very hard to change because you defend your ideas till the end. There are a lot of different ways to invest maybe they are all not wrong but maybe some are more right than others . If you have any emotional attachment to the idea it becomes more embedded in your psychic it is harder to get new /different idea's in. As it has been said before some of the ideas have to go to the grave before we find some new ways to think and to replace the old ways. The more closed minded we become as we age the less likely we are to accept th...
by zinfit
21 Nov 2014 18:17
Forum: Financial Planning and Building Portfolios
Topic: What % in equities.
Replies: 66
Views: 4397

Re: What % in equities.

I have tried to figure out people like Chuong. He owns 4 stocks and follows Buffet style of buy and hold but brags that made 90k by flipping his rather small portfolio of 1.2 million. He needs quite a few hundred billion before he is in the Buffet category. Buffet/munger might refer to his holdings as chump change or even worse a cigar but.
by zinfit
20 Nov 2014 17:45
Forum: Financial Planning and Building Portfolios
Topic: What % in equities.
Replies: 66
Views: 4397

Re: What % in equities.

You have provided no arguments supporting the belittling of "conventional volatility management (diversification, re-balancing and asset-allocation)" and its supposed correlation with a "fragile retirement". Because I recognize that it would be pointless. It's like an inoculation. The arguments are out there. Those without the same confirmation bias will willfully ignore or discount it. I am not without sympathy. I understand how difficult it is to go against one's confirmation bias. Are we talking about gambling? If so, then yes, all success is based on luck. No. I was referring to all success. Gambling is the most common example associated with luck because it is the most blatant, transparent and easy-to-digest sympto...
by zinfit
20 Nov 2014 13:30
Forum: Financial News, Policy and Economics
Topic: Charities - overhead vs programs
Replies: 190
Views: 33911

Re: Charities - overhead vs programs

I have done a lot of research on this. I will make sure when I am gone that any donations [at my funeral]be directed to the Canada Food Grains Bank. I am extremely reluctant to donate to the Canadian Cancer Society and a few other well known causes. It seems that the leading edge research is being done by universities and the pharma industry. Not sure what need the CCS is responding to . It does have a lot of provincial organizations and high priced administration. Perhaps somebody from that group could straighten me out.
by zinfit
20 Nov 2014 13:12
Forum: Financial Planning and Building Portfolios
Topic: What % in equities.
Replies: 66
Views: 4397

Re: What % in equities.

You have provided no arguments supporting the belittling of "conventional volatility management (diversification, re-balancing and asset-allocation)" and its supposed correlation with a "fragile retirement". Because I recognize that it would be pointless. It's like an inoculation. The arguments are out there. Those without the same confirmation bias will willfully ignore or discount it. I am not without sympathy. I understand how difficult it is to go against one's confirmation bias. Are we talking about gambling? If so, then yes, all success is based on luck. No. I was referring to all success. Gambling is the most common example associated with luck because it is the most blatant, transparent and easy-to-digest sympto...
by zinfit
18 Nov 2014 14:11
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: What did you buy? What might you buy? (2014)
Replies: 480
Views: 59745

Re: What did you buy? What might you buy? (2014)

I always keep a couple of large cap US stocks in my taxable account. I use these to finance my annual 5 month stay in the USA. My two choices this year are UTX [united technology] and Unilever. UN is a bit more complicated from a tax standpoint however it such a strong ,stable consumer staple. Both have dividends just below 4%.. UTX is a leader with big brands like Otis, Carriere, Pratt & Whitney. If the USA economy has strong growth in 2015 this company should do very well.
by zinfit
17 Nov 2014 13:47
Forum: Financial Planning and Building Portfolios
Topic: What % in equities.
Replies: 66
Views: 4397

What % in equities.

Just curious what people are doing. I am 69 and have about 37% in equities. I haven't figured how one should classify preferred shares. If I count them as equities then I am around 42%.
by zinfit
17 Nov 2014 13:10
Forum: Under the Mattress: Protecting Your Money
Topic: Discount Brokerage - Time to Switch?
Replies: 31
Views: 4152

Re: Discount Brokerage - Time to Switch?

So we have unlimited insurance with DGCM in Manitoba (those MB CUs seem to have the best rates too), and other insurance entities in other provinces (ON is DICO, only 100k insurance). Well I guess this is the key question and there may be good threads on this already (haven't really looked yet) Yes there are several threads about this as well as finiki pages. The gist is that CUs offer deposit insurance that's backed by a provincially supervised fund. The provinces have no legal obligation to cover depositors should the insurance funds be depleted. While MB might consider covering their own residents I can't see them covering residents of other provinces. CDIC is considered more secure in that Ottawa can step in and print money, increase i...
by zinfit
15 Nov 2014 19:03
Forum: Financial Planning and Building Portfolios
Topic: Investing styles
Replies: 241
Views: 32764

Re: Investing styles

Pricey consultants have convinced many pension funds to pile into private equity, real estate and hedge funds, which don’t necessarily promise higher returns or long-term investing. : Public pensions are in a heap of trouble; according to recent figures (courtesy of Standard & Poor’s) their assets are 29% less than needed to pay future obligations to retired teachers, firefighters, and the like. And while ordinary investors have seen their returns from the U.S. stock market soar since 2009, pension funds have largely missed the rally. That’s because, following the advice of pricey consultants, such funds have piled into so-called “alternatives.” These include hedge funds, private equity and real estate. <snip> The whole idea of “altern...
by zinfit
15 Nov 2014 14:14
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: What did you buy? What might you buy? (2014)
Replies: 480
Views: 59745

Re: What did you buy? What might you buy? (2014)

newguy wrote:
Descartes wrote:I was also looking to move more cash from my BMOIL HISA into NIF.UN as I wait for something interesting
So, did ya?

I want to buy. I can't afford the tax at a 20% yield, but TFSA room is too valuable for gambling. I guess RRSP and shares the gains and losses with all you guys. I'll read stuff this wknd and decide. 3:59, times running out!

newguy
I am more conservative with my TFSA account. I like steady eddies that pay dividends . If i can get a 5% capital gain and a 4% dividend I am happy. North West company, Informative Services, Corby's are those type of companies.
by zinfit
11 Nov 2014 20:33
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: What did you buy? What might you buy? (2014)
Replies: 480
Views: 59745

Re: What did you buy? What might you buy? (2014)

I bought Information Services. It was given a 20 year monopoly to manage the SK land titles registry, personal property registry and corporate registry. It is trading at 3.5 P/E , a 4.2% dividend, no debt and a ROE of 100%. Seems like a good addition to my TFSA. The province has got excellent population growth trends which should mean steady growth in all three of the above areas. I at one time owned Teranet TF.UN in Ontario who had/have a similar monopoly. Thought it would be a good investment. Then in 2008, it was taken out by OMERS (Ontario Municipal Employee Retirement System). Can't recall exactly, but don't think it worked out too well for unit holders like myself. I believe Teranet are also in Manitoba. THey were structured as trust...
by zinfit
11 Nov 2014 17:25
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: What did you buy? What might you buy? (2014)
Replies: 480
Views: 59745

Re: What did you buy? What might you buy? (2014)

I bought Information Services. It was given a 20 year monopoly to manage the SK land titles registry, personal property registry and corporate registry. It is trading at 3.5 P/E , a 4.2% dividend, no debt and a ROE of 100%. Seems like a good addition to my TFSA. The province has got excellent population growth trends which should mean steady growth in all three of the above areas.
by zinfit
11 Nov 2014 08:55
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: price to book ratio
Replies: 27
Views: 1702

Re: price to book ratio

If one checks I am pretty sure that Buffet says that Sees Candy was his best purchase. Not because of its overall return[as it is a small company]. It was because he learned the importance of pricing power, the value of a strong brand and sustained high ROE. Munger had a powerful impact on Buffet's thinking . It certainly moved him away from a straight value investor[ fewer cigar butts and bankrupt textile companies]. I figure Buffet got himself a giant cigar butt with IBM.
by zinfit
10 Nov 2014 20:19
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: price to book ratio
Replies: 27
Views: 1702

Re: price to book ratio

All these are very good points for and against the use of P/B. No one metric is a catch-all of course. However, I think one would be hard pressed to find any Munger/Buffett 'inspired' investor not to use P/B. Since my ability to evaluate a business is poor, I only focus on business were tangible book is very easy to determine. I ignore commodity business and businesses that require large capital expenditures or have 50-year old assets on their books. I also ignore businesses that require technological progress and innovation. Like technology. Since my lack of ability cuts out 99.999% of businesses, it makes things easier. This is why most of my equity exposure is tied up in 2 stocks. Winners are clearer. For me. From my perspective metrics...
by zinfit
10 Nov 2014 12:04
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: price to book ratio
Replies: 27
Views: 1702

Re: price to book ratio

The Babson's (Roger, David and Thomas) were doing much the same thing, just after World War II, long before Buffett and Munger arrived on the scene. Some examples in their growth portfolio: Abbott Laboratories Celanese Corporation Corning Glass Works Dow Chemical Eastman Kodak Gulf Oil International Business Machines Minnesota Mining & Manufacturing Standard Oil (New Jersey) Union Carbide The Babson fund managed to maneuver around the Go Go era of the 1960's but got hit really hard with the rest of the nifty fifty stocks during the 1970's. It pays to avoid major mistakes in an investing lifetime, but easier said than done. As most long timers have experienced, investing is more than just picking stocks with low price ratios. The Brande...
by zinfit
10 Nov 2014 11:48
Forum: Under the Mattress: Protecting Your Money
Topic: travel insurance madness
Replies: 150
Views: 21927

Re: travel insurance madness

I went through theWestern Financial Group. I liked the wording of the policy and the application. The cost is excellent . I liked a provision were the deductible is increased to$10,000 in the event that you made an innocent mistake in answering their questionaire. For my spouse and myself the premium is a $1000.00 less then Manulife. The policy is with the Dejardine Group. I had a look at that company and the cost was no doubt lower. In our case $321 vs $390 at vRBC for similar two month coverage. But they also offered a discount if a deductible was included. As you said, there was a deductible of $10,000 if you answered incorrectly. I looked at CAA (Southern Ontario)- they didn't have a deductible discount and cost was $400. But in event ...
by zinfit
10 Nov 2014 10:56
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: price to book ratio
Replies: 27
Views: 1702

Re: price to book ratio

Munger got Buffet to move outside of pure Graham value investing. He got Buffet to think about things like a moat, a sustainable strong business and a high return on equity and invested capital. If you find an exceptional company with very strong growth metrics you can pay a bit more them. Both are strong on holding on to their stocks. Munger was never a Graham style investor. Berkshire[the original textile company] might be one of Buffet's last pure value investment. It turned into a value trap. Brands can become a problem as well. IBM used to be a powerful brand. It's hard to see were this company is going today. Coke Cola was a powerful brand. I get the feeling that the focus on healthy living will undermind that moat over time. Buffet/M...
by zinfit
09 Nov 2014 21:59
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: price to book ratio
Replies: 27
Views: 1702

Re: price to book ratio

Apple's best asset is it's brand. It's very hard to place a book value on that. A solid brand can give a stock a competitive advantage. The combination of Buffet/Munger was the combining of value investing with the benefits of growth investing. I figure their main compenents are value investing metrics, a moat or competitive advantage and solid sustainable ROE. Companies like CAT,Deere, Apple, Coke, United Technology ,Microsoft, Kraft,Heinz have excellent brands which gives them strong moat protection.I am not a big fan of P/B based on tangible book value.
by zinfit
09 Nov 2014 17:18
Forum: Under the Mattress: Protecting Your Money
Topic: travel insurance madness
Replies: 150
Views: 21927

Re: travel insurance madness

The insurer was Manulife so their actual practice seems to be sillier than their stated practice. So just beware the minefield! They wanted to exclude HBP for the whole trip (6 months). While researching this, I came across a site called Bestquote Insurance agency. This is the link. They came up with widely different quotations for same trip. Some companies, I had never heard of. For example April International underwritten by Royal Sun Alliance. But getting back to Manulife, one quotation was from them. Cost was about same as we were quoted by RBC Ins., but they offered a discount for various deductibles. Choosing say , a $1000 deductible reduced a 2-month premium from $395 to $312. RBC used to have that option on their site, but it is no...
by zinfit
05 Nov 2014 16:19
Forum: Community Centre
Topic: Newspaper on-line fees
Replies: 323
Views: 7939

Re: Newspaper on-line fees

Bylo Selhi wrote:<OT>
The Star has recently started auto-playing videos that are embedded in regular news stories. I find this awfully annoying. I can imagine this would be more than just annoying in an office environment even if the employees are going to The Star for legitimate reasons.

My question: Is there some setting in Chrome or an extension that stops this, i.e. that prevents auto-play by default?
</OT>
I am getting some blocking style ads at Globeinvester .It is very annoying. I have to find creative ways to get around them.