Search found 2497 matches

by George$
22 May 2014 08:42
Forum: Financial Planning and Building Portfolios
Topic: New Doc's Canadian ETF Portfolio Advice
Replies: 41
Views: 7575

Re: New Doc's Canadian ETF Portfolio Advice

... I'm 34, a recently graduated doctor who has been investing with MD Management this entire time. The fees are ok, but I think a DIY passive investment strategy can do better, so finally I'm doing to take the dive into ETFs. My investment horizon is around 20-25 years. This is invested in a corporation (so, not an RRSP). To keep it lazy/simple, I plan on making one contribution yearly or around $400k rebalancing at that time. Please provide any advice or comments on the following strategy: My asset allocation is (1) Canadian Bonds 30%, (2) Canadian Equity 23%, (3) US Equity 23%, (4) International Equity 23%. I'm looking at trading only 4 ETFs. ... My apologies Ed - as I may be late in reading your post - and giving comments and advice. I...
by George$
19 May 2014 10:44
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: value analysis - rent vs purchase
Replies: 70
Views: 9187

Re: value analysis - rent vs purchase

An interesting article on this topic in the Telegraph (17 May 2014) House prices: countries with the cheapest and most expensive property markets - and a bit from it - House prices in Britain are around 30pc too high, according to a study published by the Organisation for Economic Co-operation & Development. The figures, included in a wider report on economic prospects, offer a signal as to where buyers might be able to find a property bargain – and the nations where they may be overpaying. Commonwealth countries, in particular, were found to have the most wildly overvalued property markets among the OECD countries . They include New Zealand, Australia and Canada ; prices continued to power ahead in all three last year. - my emphasis fo...
by George$
18 May 2014 14:37
Forum: Financial News, Policy and Economics
Topic: Buffett Buffet
Replies: 806
Views: 247097

Re: Buffett Buffet

Bylo Selhi wrote: ...
However people like Buffett (and Bogle) have done more for investors and humanity in general than the vast majority of the Wall Street mafia, many of whom are all too ready to hurl stones at them.
+1 !!!!!!!!!!
by George$
14 May 2014 10:09
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Vanguard Canada to offer 5 more low-cost ETF
Replies: 35
Views: 6633

Re: Vanguard Canada to offer 5 more low-cost ETF

Thank you LadyGreek and IdOp. More reading for me :( and :D Share three other thoughts. Not sure how accurate this is - but a big difference between Vanguard and the other ETF providers. Vanguard will reduce its MERs once it is covering the costs - whereas other ETF providers need a profit in the long run (Vanguard does not). Thus I am skeptical in the long run about Blackrocks recent reduction of its ETF mers. In today's Globe and Mail it included the quarter magazine "Your Guide to ETF Investing" - current is Spring 2014. Atul Tiware always contributes - he is the managing director of Vanguard Investments Canada Inc. Finally - while the Vanguard costs (mers) are rock bottom - in particular compared to Canadian mutual funds - my ...
by George$
13 May 2014 19:13
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Vanguard Canada to offer 5 more low-cost ETF
Replies: 35
Views: 6633

Re: Vanguard Canada to offer 5 more low-cost ETF

Thank you larry81.

In looking at the Summary documents - I see that all five of the new ETFs note that they have "DRIP eligibility'. Two questions - is the DRIP generally available at all brokers? - and does the DRIP also apply to the other 16 Vanguard ETFs?
by George$
05 May 2014 19:52
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: IEX - and market - and Katsuyana
Replies: 56
Views: 5474

Re: IEX - and market - and Katsuyana

Buffett, Gates and Munger criticize high-frequency trading
It does the rest of civilization no good at all, say Berkshire Hathaway's Charlie Munger, discussing the impact of high-frequency trading on the markets. Bill Gates, Microsoft founder, and Warren Buffett, Berkshire Hathaway chairman & CEO, share their thoughts.
by George$
05 May 2014 10:30
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Discount Brokerage Promotions
Replies: 38
Views: 14095

Re: Broker Promotions

AltaRed wrote: ... For the vast majority, it is the cash that matters.

But as I see it - $500 cash on a $500,000 asset is 0.1% gain .
Question - how long does the $500,000 have to be there?
If only a week or so - then $500 is a good gain. But if a year or more - before you can get the $500,000 back - then the % gain is trivial. Or so it seems. :?
by George$
05 May 2014 05:21
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Discount Brokerage Promotions
Replies: 38
Views: 14095

Re: Broker Promotions

IdOp wrote:I hope this is a new one, just saw it on the boobtoob,

Scotia iTrade offer

Code: Select all

$ 15,000 - $ 99,999 	100 Free Trades OR $ 50 Cash
$100,000 - $499,999 	250 Free Trades OR $250 Cash
$500,000+ 	          500 Free Trades OR $500 Cash
Roughly 10 beeps (for Cash). More details at the link.
This looks like "too good to be true" - are there hooks to it?

I ask because banks are there to make money for themselves - how will the above do that?
by George$
05 May 2014 05:13
Forum: Financial Planning and Building Portfolios
Topic: Bill Bernstein - Free E-Book (for Millenials)
Replies: 28
Views: 13200

Re: Bill Bernstein - Free E-Book (for Millenials)

Free download from Amazon.com for May 4 and May 5. See: Subject: If You Can [free Bill Bernstein booklet for millennials] Hi all: In conjunction with some media attention, I've made my booklet for millennials free for May 4 and 5 (Amazon lets me do this for 5 days every 3 months; otherwise, honest, they make me charge the Kindle minimum of $0.99.): http://www.amazon.com/If-You-Can-Millennials-Slowly-ebook/dp/B00JCC5JKI/ref=sr_1_1?ie=UTF8&qid=1397580064&sr=8-1&keywords=if+you+can+bernstein And, as always, it's available in various free formats (tho not direct-to-Kindle from Amazon) here: http://efficientfrontier.com/ef/0adhoc/2books.htm Best, Bill Again thanks to L-G and Bill Bernstein - for this help - and the related The recen...
by George$
03 May 2014 09:53
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: What costs to expect when buying a cottage?
Replies: 35
Views: 11874

Re: What costs to expect when buying a cottage?

We never had a cottage. For the past 50 years we (or I) went on canoe trips - mostly quite long and farther and farther north.

Great solitude, waterside camping, different scenery every night - and every year - and very low annual cost.

No resale problem, no taxes - again etc and etc.

:)
by George$
03 May 2014 09:42
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Chou Funds
Replies: 46
Views: 10924

Re: Chou Funds

Norm writes (G&M this morning) -
Following in the footsteps of Warren Buffett, he intends to give his fortune to charity after growing it a bit more.
At a recent meeting I was asking Francis for his advice on how and to whom one might give away investment earnings (with my much smaller amount - I have a similar problem). We seemed to agree that it was easier to make investment money - than it was to give it away in a similar meaningful and valued way as you aged. As I read - Warren Buffett had the same problem - until he and Bill Gates found each other.

:?
by George$
03 May 2014 06:51
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Chou Funds
Replies: 46
Views: 10924

Re: Chou Funds

More from Norm. :wink: Hedge-fund managers are known to charge investors a fixed annual fee and then layer a big performance fee on top. Mr. Chou has effectively been doing the opposite. He has charged a fee ceiling that is itself less than the average for active equity funds in Canada, and he has lowered it when he thought he hadn’t earned the money. Remarkable. Yes, Francis is exceptional in this regard. I believe that in the past, after a year that he did not think he did well in one fund - he wanted to refund their fees. He did but this was not easy. Nobody had ever done this before - and the oversights made it difficult. Why? Dunno - but I can imagine that some in the financial business did not think this was a desirable example. Yes,...
by George$
02 May 2014 13:23
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Torstar (TS.B)
Replies: 31
Views: 1875

Re: Torstar (TS.B)

Torstar jumped up by about 18% (so far) today

Why? What is going on? Anyone?

G$
by George$
02 May 2014 08:12
Forum: Financial News, Policy and Economics
Topic: Grantham's Prediction
Replies: 39
Views: 7678

Re: Grantham's Prediction

GMO First Quarter 2014 letter Conclusion and Summary The bull market may come to an end any time, indeed as I write it may already have happened. It could be derailed by disappointing global growth, profits sagging as deficits are cut, a Russian miscalculation, or, perhaps most dangerous and likely, an extreme Chinese slowdown. But I believe it probably (i.e., over 50%) will not end for at least a year or two and probably not before it reaches a level in excess of 2,250 on the S&P 500. Prudent long-term value investors will of course treat all of the above as attempted entertainment (although I believe all statistically accurate) and be prepared once again to prove their discipline and man-hoods (people-hoods) by taking it on the chin....
by George$
29 Apr 2014 15:13
Forum: Financial Planning and Building Portfolios
Topic: Passive Investor-early retirement possible?
Replies: 7
Views: 1392

Re: Passive Investor-early retirement possible?

Saw this recently - very good and simple - Passive Investing: the Evidence A remarkable 54 minute film featuring some of the world's top economists and academics ( with 25+ individuals) and demonstrating: - - how the claims of active fund managers to be able to beat the market are largely a myth - how costs are the biggest drag on performance - and why active costs more - how passive investing offers the best experience for the vast majority of investors - the benefits of a diversified portfolio in guaranteeing consistent returns - why passive investing is better for your health - why active investing has held sway for so many years.... - ... but why things may be changing - and why passive is the rational, mathematically proven route to in...
by George$
29 Apr 2014 09:38
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: IEX - and market - and Katsuyana
Replies: 56
Views: 5474

Re: IEX - and market - and Katsuyana

... So the real key was these new special orders. Higher speed was merely an adjunct. Front-running is not the main issue. The main issue is what should be done about these special orders. Should some of them be prohibited in their present form? Or should they be modified to be more user-friendly for other classes of investors? Finally ISTM that the real problem is a growing opacity. Dark pools detract from the price discovery process. Hidden orders have purely tactical value and may not add much to the proper functioning of markets. And paying traders for directing order flow to certain exchanges (to build liquidity in that exchange) can give unfortunate incentives. I'm sure there were people in all the big banks who understood all this. ...
by George$
28 Apr 2014 20:48
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: IEX - and market - and Katsuyana
Replies: 56
Views: 5474

Re: IEX - and market - and Katsuyana

I really dunno Bylo.

But
In Lewis' book (Flash Boys) - it repeats several times - that before Katsuyana came along - that while the Wall St market traders and dealers suspected there was something going on - they did not really know the specifics of what was causing it. They seemed to just not dig into it - and it took technical individuals to analyze the issues. I could see that at Vanguard they never looked at computer speeds, signal travel times, etc to be aware of such front running.

If all you think about is more trades, more liquidity, less spreads etc - it is to the HDT good.

But my guess is that this issue of pro and con of HST will be discussed more in the future. :?
by George$
28 Apr 2014 16:37
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: IEX - and market - and Katsuyana
Replies: 56
Views: 5474

Re: IEX - and market - and Katsuyana

Bylo Selhi wrote: ...
He concludes that on balance it's better to have HFT than not. ...

I don't understand. Surely not rigged HFT - with front runners. I can understand that fair HFT would help Vanguard - and all traders.

Is there any chance that Bogle and Vanguard don't understand the nature of trading and its microsecond time issues? :?
by George$
27 Apr 2014 09:04
Forum: Financial Planning and Building Portfolios
Topic: What should I do with my money at the moment?
Replies: 37
Views: 2153

Re: What should I do with my money at the moment?

v6g wrote: ....
So, what should we do with our cash? Has the stock market really got much room for growth? Is the gold/silver idea totally nuts? ...

Dunno for you.
I don't think anyone really knows the future.
Our circumstance - retired with enough saved.
With about one third of our assets sitting in cash - earning about zero - but ready for the next market crash (like 2008-09) to buy stock when most want to sell and dump in fear.
:wink:
by George$
26 Apr 2014 11:15
Forum: Taxing Situations
Topic: Studio Tax questions
Replies: 34
Views: 6758

Re: Studio Tax questions

I am using Studio Tax for the first time and have a question. How do I list all the sources of my interest income? The T5 section allows me to list each amount separately, and when I look at Schedule 4, the total of all the amounts I included appears. However, there is insufficient room to list each source and amount on that schedule. There is a statement (From information slips) beside the total. Is that sufficient? I am just finishing the 2013 taxes for my spouse and myself. I also like using Studio Tax - this is our 3rd year with Studio Tax - and we send them a payment as our thanks. A welcome aspect. The following may help you and others - if you have our complexity (and aging mind :oops: ). Together we receive about fifteen "T&qu...
by George$
24 Apr 2014 08:57
Forum: Under the Mattress: Protecting Your Money
Topic: Which Charity Is The least Worthy Of A Donation
Replies: 108
Views: 19261

Re: Which Charity Is The least Worthy Of A Donation

Hi:

I'm thinking about charity donations for 2014 - thus trying to again avoid the highly paid fundraising industry for "charity".

Last evening Linda and I went to an event in support of the Stephen Lewis Foundation - to help grandmothers in Africa to deal with AIDS etc.

Does anyone here know about their overhead - or have further information or suggestions?
by George$
20 Apr 2014 17:13
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: IEX - and market - and Katsuyana
Replies: 56
Views: 5474

Re: IEX - and market - and Katsuyana

Many, many others are. Unfortunately it is very difficult to know beforehand who is who. For that reason, we need institutions that guard against greed in everyone. They will not affect the non-greedy, but perhaps will help control the greedy. Said in other words, we should put our faith in institutions, not individuals. Both agree and disagree. I agree that in new contacts one cannot tell who is who. My own experience at a university bears this out. But I don't see how institutions fix that. My experience also bears that out. Don't you think that it really is the senior staff of an institution that set the morals and practices? At a higher level there needs to be commitment on the part of users and regulators and politicians. Agreed. At a...
by George$
20 Apr 2014 14:01
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: IEX - and market - and Katsuyana
Replies: 56
Views: 5474

Re: IEX - and market - and Katsuyana

... I agree with the first half of each point Brooks makes -- the ineffectiveness of sermons and of government regulations -- but I disagree with the second half of each point. ... George - I have been re-reading your words above - but either don't understand your point or else maybe disagree. Hope you can help. I don't follow why you disagree with the second half of each point. You write - "Greed will always be with us " - perhaps but the degree of greed will vary from individual to individual. Some may be total and others hardly any. In finance I don't think that Jack Bogle or Warren Buffett are driven or motivated by greed. I think both of them are driven but not by greed. Yes we need good "institutions" - but surely...
by George$
20 Apr 2014 08:43
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: IEX - and market - and Katsuyana
Replies: 56
Views: 5474

Re: IEX - and market - and Katsuyana

David Brooks in NY Times writes a column on "Curiosity's Moral Power" - about Michael Lewis's book "Flash Boys" I agree totally with Brooks - he writes - It’s nominally a book about finance, but it’s really a morality tale. The core question Lewis forces us to ask is: Why did some people do the right thing while most of their peers did not? and One lesson of this tale is that capitalism doesn’t really work when it relies on the profit motive alone. If everybody is just chasing material self-interest, the invisible hand won’t lead to well-functioning markets. It will just lead to arrangements in which market insiders take advantage of everybody else. Capitalism requires the full range of motivation, including the intrinsi...
by George$
19 Apr 2014 13:40
Forum: Financial Planning and Building Portfolios
Topic: Investing styles
Replies: 241
Views: 32736

Re: Investing styles

Apologies if this was already posted - and wasn't sure which thread to post this on - but here it is - "What has Worked in Investing" - from Tweedy, Browne It starts with .. Dear Investor: What Has Worked in Investing is an attempt to share with you our knowledge of historically successful investment characteristics and approaches. Included in this booklet are descriptions of over 50 studies, approximately half of which relate to non-U.S. stocks. Our choice of studies has not been selective; we merely included most of the major studies we have seen through the years. Interestingly, geography had no influence on the basic conclusion that stocks possessing the characteristics described in this booklet provided the best returns over ...