She announced today that she is leaving BNN as of today.Any idea where she might go. I think she is one of the best Business commentators and interviewers in NA including all the yellers on CNBC.
With a Brexit possibility and the rise of Trumpism in the US, there seems to be in many Western countries a growing sense of anger combined with anti-free-trade sentiment as jobs are exported to cheaper countries and there is a sense of economic stagnation in the middle class, combined with resentment towards poorer countries (and their workers) an towards the very rich. It seems to me that the protectionism and nationalism that results has some...
For those of you with regular (not e-series) TD mutual funds, likely through bank branches, you may be interested in this class action suit.
It should be automatic that where D class is available, branch based advisors should be obligated to offer D class exclusively.
From a DIYer perspective, some (a few?) of us have made representations in the past to CSC/OSC about the lack of Class F (no trailer) mutual funds from most providers at...
What do people think is fair compensation for their time and effort to correct problems forced upon us by ........... banks.(don't know adjective)
For example - a totally unnecessary trip to a branch for something that could easily be handled over the phone. Wife didn't pass her credit check so to get this fixed she had to take time off work and make a second trip to the branch two days later (only appointment available) all because of a wrong...
Finance Minister Charles Sousa will table a pre-election budget on March 28 that puts Ontario back into the red.
“We are choosing to put our strengthened fiscal position to work, to address our priorities, your priorities — and, as a result, we will be running a deficit, starting next year,” Sousa told an Economic Club of Canada luncheon Wednesday.
The treasurer said the shortfall would be “less than 1 per cent of GDP,”...
Two people, living alone as singles, would be individually poorer because they wouldn't share expenses. Why do we subsidize them when they become a couple by lowering their taxes, when they're already richer due to shared expenses?
A worthwhile weekend read (actually anytime read) with lots of points to ponder. Check out Making a Difference - HumbleDollar by Jonathan Clements. TRYING TO BEAT THE MARKET isn’t just a risky endeavor that will almost certainly end in failure. It’s also unnecessary and, arguably, an astonishing waste of money and time.
I m not sure I agree that it will almost certainly end in failure , but the concept that is is unnecessary and waste of money...
No significant tax changes, beyond tinkering with CCPCs as already announced. In particular, no increase in the capital gains inclusion rate. For me, the rest is just a series of footnotes.
Still some commentators are not best pleased. Here is Andrew Coyne :
Budgets used to be written by the Finance department. This one appears to have been written out of Status of Women Canada (the budget proposes to make it a full department, but on the...
The correlation between stocks and bonds tends to move with nominal growth, the sum of real growth and inflation...
Besides growth and inflation...stock-bond correlations have had a positive correlation with the real-federal funds rate (effective federal funds rate minus the consumer price index)
When stock-bond correlations are presumed to be negative, portfolio construction favors traditional Treasury bonds—particularly long-dated...
Does this US election change your investment policy.
I gave some thought on the outcome of the US election on my portfolio. I can't see making a change, still running about 60% Bonds/GIC's/Cash to equities. Broad ETF exposure to world indexes with a large tilt to US value. Canadian exposure through FIE in TFSA and select stocks composing of NB, BNS, CAR, and AAR in RRSP's and TFSA's.
Not changing anything, not concerned about the markets as I...
I found this article interesting, although I have no background in economics. I think the economists on the forum may find it interesting as will perhaps some of those with a science background like myself.
I couldn't really find an excerpt to pull out that would do the whole justice.
Consider the case of Sweden which, hit a Japan-like CAPE high of 79 in early 2000. At the same time, the U.S. was also at its all-time high, but seemingly a relative bargain at just 47. Since then through 2017, U.S. shares have indeed outperformed Swedish shares, but it would have taken the patience of saint to wait so long; despite the huge premium, MSCI Sweden outperformed the MSCI USA index by more than 240 basis points annually over the ten...
Two days before Christmas, when most politicians and their staffers had long left their offices for the holiday break, the finance department released — without fanfare or wide notice — a surprising update on long-term economic and fiscal projections.
The report warns that lower than expected growth combined with higher program spending “would be sufficient to put at risk the fiscal sustainability...
I am interested in why an individual would stick to a buy and hold portfolio, when on the balance of things we are most likely in for a reduction in stock prices than a constant rise in the stock market. The fundamentals just don't add up for substantial price increases. I know this reeks of market timing, however, even Buffet once removed himself from the market when pricing just didn't make sense.
Hi,
I read that fractional reserve banking increases money supply in the economy. Suppose reserve ratio of a bank is 10% and I deposit $100 into the bank. The bank can then set aside $10 and lend remaining $90 to person A. Now person A has to repay $90 + some interest. Where is the money for person A going to come from? Assuming there was just $100 bill in the economy. How is person A going to repay his loan? Where does this extra money gets...
Hi,
I recently read that the total amount of money in the world does not remain constant. Federal Reserve/Reserve Bank in each country prints currency as and when required. How do they decide when to print currency or remove currency from circulation? Thanks!
Maybe I'm not understanding the definitions, or I'm simplifying too much.... but how can Cash Flow be less than Earnings.
I thought Cash Flow was roughly Earnings plus depreciation. So for example I'm seeing that JNJ in 2016 had Earnings Per Share of $6.04 and Cash Flow Per Share of $5.93 So does that mean JNJ had negative depreciation? What does that mean? Something like a brand name has become more valuable? I guess I'm used to depreciation...
Hi, I realize equity markets hate higher interest rates. I'm curious what real impact they have on the markets?
I have read that companies need to borrow at lower rates to create jobs and expand blah blah blah.. Yet that to me seems to be pretty much a charade since majority of the money that makes up the markets is from huge companies like Apple and Google, Microsoft. Berkshire Hathaway Amazon.com. Facebook. These companies have 100s of...
Second round of talks took place the last three days. Since the outcome of the renegotiation (if any) could affect us all as investors, I thought it might be useful to keep track of proposals and counterproposals.
Here's a Canadian proposal that caught my eye:
Canadian negotiators are demanding the United States roll back so-called right to work laws – accused of gutting unions in some U.S. states by starving them of money – as part of the...
Hi,
I have read that the Federal Reserve buys securities in open market to increase the money supply. But what happens to those securities? Does the Fed destroy it? Who eventually pays for those securities? e.g. The Fed buys a bond of $1 billion in open market. Now with the bond in hand one would expect to get the principal back with some interest when the bond matures. Who pays the principal with interest? I have searched a lot on the net...
Hi,
Is it necessary to pay interest on the bond that the Fed holds? Suppose, in order to increase the money supply the Fed buys a bond of $1 billion in the open market. Now the bond is back to US government (The Federal Reserve). The US government (US Treasury) itself created the bond in first place. Hence I think it is not necessary to pay the interest/principal on that bond. Is this assumption correct?
Article in The G&M today here about the naming of Janice Kakakusa as the first chairperson of the board for the Canada Infrastructure Bank.
According to the government website the Bank will invest $35 billion from the federal government into infrastructure projects. Specifically:
Invest in infrastructure projects that have revenue-generating potential and are in the public interest;
Attract private sector and institutional investors to...
Morningstar has expanded its Mind the Gap study from the United States and Europe to its first ever global look at investor returns across markets and asset classes. Although the five-year investor returns gap ranged widely from negative 1.40% to 0.53% for the year ended 2016, some common themes emerged. Investment vehicles that required systematic investment produced better...
Investopedia gives the definition of GDP as the final value of goods and services produced over a given period of time. It can also be the total amount of goods and services consumed. But for e.g. a jeans is produced and it is sitting on the shelf of the store. If no one buys that jeans then it will be counted as a good produced but it will not be counted in goods consumed. Thus the value in final value of goods produced will be different than...
I've been reading about how regulators are thinking of introducing a rule that says brokers will have to act in the best interests of their clients, instead of merely choosing suitable investments.
For those of you interested in macroeconomics, do you think that introducing a fiduciary rule actually maximizes social welfare? I was having a conversation with a friend who majored in economics and he said that he thinks that allowing brokers to...
As a result of an inheritance from a relative in Great Britain my 90 year old mother has received a substantial cheque in British Pounds. What is the most efficient way of converting this into Canadian $. She lives in a small Ontario town and has access to TD and CIBC and perhaps the Royal Bank.
David Swensen may be to university endowments what Warren Buffett is to Berkshire. Thus this thread. It is prompted by Taggart's link to Yale's 2006 Endowment Report in another thread. Some good stuff there. It's an excellent read.
If you put David Swensen Yale in google you get 15,900 hits.
Here is what the Wikepedia selection says (with my emphasis): David Swensen
From Wikipedia, the free encyclopedia
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David...
The annual spring Ontario Sunshine List of public sector workers earning $100,000 a year (or more) was released today.
CBC article
Actual list
A cause for biting knuckles and cursing for some private sector people, I personally find puerile interest in comparing my salary with some of my former professors and the principals at my kids' schools...
I keep reading about the rise of ETFs and the pull away from retail mutual funds over the past two years, and suggestions that this demonstrates an increasing appetite on the part of individual investors for passive products versus actively-managed mutual funds.
But is there any actual evidence of a move away from active management to passive management?
If I looked at retail investors and the retail MF market share in, say, 1990, 2000 and...
The latest census report shows how much the G7 depends on immigration nowadays. You may have read in other news that not everyone is in favour of immigration. I have some things that concern me about the future.
Perhaps I'm neurotic, and worry too much. If population declines we get in the situation of Japan with deflation and a powerless central bank with extravagant fiscal policy....
In January with no green grass or fun distractions, reading and learning about the yield curve is further up the fun list than it usually is. I was doing some reading on inverted yield curves, recessions, blah blah and this thing is pretty handy fun chart. Thought it might be of use to others. Ain't the internet grand........
I strongly believe unless the War on Terror , escalates the stock market will continue to rise in 2017. I do not see corporate profits falling and the dollar falling to much in 2017.
What do you think about the video below? I like the 3rd reason but besides that I think my economic view is correct, as it was in 2016.
I also, do not think Trump will change the foreign policy to much which would cause some...
International Trade Minister Chrystia Freeland has announced $50 million in new funding for small businesses looking to export their goods.
Under the CanExport program, the federal government will reimburse up to 50 per cent of any spending between $10,000 and $100,000 by companies seeking to expand their overseas trade.
Businesses with fewer than 250 employees and annual revenue between $200,000 and $50 million will be...
Just food for thought. Are we reaching a point of maximum optimism? I notice almost every BNN guest/expert is bullish, many even recommending avoiding fixed income altogether. The US markets are at record highs and TSX is close to the record. To date, most of our predictions in the predictions contest (including my own) are bullish or at worse relatively flat. Of course, as with maximum pessimism no one knows the exact point of maximum optimism...
Just wondering how to go abouts finding out if we are owed back fees from BMO IL settlement.
Have any of you been in contact with them if so what would be the best place to start!
Thks
See Below...
Then there were four.
Four banks have now disclosed to the Ontario Securities Commission that they were overcharging their wealth management clients.
BMO is the latest to self-report that they were double charging their clients (following in TD,...
In a seemingly well-kept secret, India is taking a big one-time stance on hoards of black cash:
As of midnight tonight, current 500 Rs and 1000 Rs are no longer legal tender, with a few exceptions that are getting 72 hours to accept them. These two notes, the largest available, work out to US$7.5 and US$15 respectively. One's only option is to exchange them at a bank for new 500 Rs and 1000 Rs notes before the end of the year.
In yesterday's globe Jeremy Grantham was generally bearish on US stocks . A key point of his rationale was FX...namely that they report in USD and have been given a big lift by the falling US dollar versus other world currencies. Next year however -no free ride as the dollar remains fairly static at its new lower level or it bounces back somewhat.
Having worked in corporations, what he is describing is true and simple.
So a 31 year old guy living with his parents in Hounslow (West London) is accused of causing 1000 point fall in the Dow Jones in 2010. The US extradited him last month. From the link:-
US authorities say he manipulated the market by spoofing over a five-year period, contributing to market instability that led to a brief 1,000-point fall on the Dow Jones index in New York.
I was reading this article, but am having trouble understanding why this is labeled as a 'crack down'. My understanding is that pension/senior benefits are to reward those Canadian who has made contribution to the Canadian economy in the past. Where do these retirees spend these benefits, should be up to them to decide. I am interpreting this article as forcing people to stay and spend in Canada if they wish to receive full pension/senior's...
He seems to be very sure of himself. I don't know anything about how to evaluate a short.
Short-Seller Marc Cohodes Takes Aim at Five Canadian Companies
While Cohodes only manages his family's account at this time, he was praised as the highest-profile short-seller on Wall Street by the New York Times back in 2001. He's also one of the most rambunctious, having famously sparred with companies like Lehman Brothers, Overstock.com, Krispy...
Not sure how many forum members are getting the new Canada Child Benefit cheques...we started getting our cheques. Not sure if this a big deal or not.
New Canada Child Benefit cheques will boost 2016 job growth, says TD economist
Canada’s labour market will strengthen in the second half of 2016 as the first round of Ottawa’s new Canada Child Benefit cheques boosts consumer spending and improves the pace of hiring among service sector...
Canada Pension Plan: Liberals Reach Agreement With Provinces On Reform
Another article:
CPP to sting in near term, help in long term
Under the proposal, contributions to the CPP by employees and employers would gradually increase over seven years starting in 2019. Once the changes are fully implemented in 2025 , Canadians would pay between $9 and $42 more into the plan every two weeks .
The CPP changes would eventually provide future...
Just pointing out that RESP contribution limits and the matching CESG grant contributions, have been decreasing in real dollar value ever since the program was started. I think they should be indexed just like TFSA contribution limits are...
Are we letting the government get away with eroding this benefit through inflation? I think we are.
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