Depression coming?

21pro

Crotch Sniffer
Oct 22, 2003
7,830
1
0
Caledon East
I know I'm feeling a pinch. My portfolio is down 12% in the last 30 days!
 

Jumbo99

New member
Nov 24, 2005
310
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I had some bank mutuals come due in the summer. the 3 year return on these at the time was not much better than the GIC rate would have been and we had been exposed to much higher risk. Much to the bank advisors displeasure we pulled out of the market funds and invested all into a GIC. I look like a financial wizard now. my wife and I have felt for a long time that things were getting all fucked up in the economy. We have good incomes and are good savers but were unable to save money as quick as the real estate prices were inflating. This didn't make any sense. LOOK OUT FOR RISING INTEREST RATES. I have money and no debt and even though the bank rates may be low watch out. In these times I will want a great deal of security on a loan or a much higher rate of interest to assume risk. I have money most do not. REMEMBER THE GOLDEN RULE. they that have the gold make the rules. I remember throwing a party when my mortgage was renewed at 10% a number of years ago. This was a great savings for me. People with a high mortgage at a 4% to 5% rate will be looking at a 20 to 25% rise in their payments if interest rises by 1%. These have been historic low interest rates and have only been so due to policies of the central banks. In tight money situations people like myself are going to be demanding a much higher return on my money that I have had for some time. My advice is to dump debt as quick as possible. In 6 months today may look like it was still the best of times.
 

big dogie

Active member
Jun 15, 2003
1,227
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36
in a van down by the river
WhOiSyOuRdAdDy? said:
Funny thing... about 4 months ago, I moved a large RRSP from one bank to another... I told them I just wanted to put it in GIC's for the next 5-6 months and the "advisor" thought I was crazy .

It seems that bank "advisors" are not acting in the best interest of the customers when it comes to investing... they must get a commission when it goes into mutual funds.

two words 'trailer fees'

b d
 

Aardvark154

New member
Jan 19, 2006
53,761
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Lisa of Toronto said:
depression or recession....everybody will have more time to fuck
Perchance so, but whether we will have the disposable income to afford SPs is another question entirely.
 

chiller_boy

New member
Apr 1, 2005
919
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nottyboi said:
Where do you live? If you support Harpers points of view on this, read between the lines, his economic policy will be focused on resource extraction and NOT manufacturing, i.e it is a western agenda that we have already seen so much of.
Harper and the conservatives are in danger of becoming a 'bloc alberta' on economic issues.

We need a bloc ontario.
 

rafterman

A sadder and a wiser man
Feb 15, 2004
3,506
101
63
TSX 300 off 600 points again today, if the bailout package in the U.S. doesn't pass watch out above!
 

jonai1

New member
Mar 14, 2004
171
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who cares...bring it on...its all a part of the biz cycle...the more it drops the more i buy...kinda like warren buffet...but with a lot less zeroes...lol
 

JohnLarue

Well-known member
Jan 19, 2005
18,677
4,180
113
WhOiSyOuRdAdDy? said:
Funny thing... about 4 months ago, I moved a large RRSP from one bank to another... I told them I just wanted to put it in GIC's for the next 5-6 months and the "advisor" thought I was crazy .

It seems that bank "advisors" are not acting in the best interest of the customers when it comes to investing... they must get a commission when it goes into mutual funds.
The trailer fees from the mutual funds are what most of these so-called experts make the majority of there revenue from.
Most of these guys are really salesmen first, investment experts (cough) second. There are some good ones, but they are in the minority

Ask them about the fees associated with mutual funds.
The first thing out of their mouth is "we do not charge commissions"
That does not answer the question
Every year (quarter??) a Management Expense Ratio is deducted from your MF assets. The majority of this MER goes to pay the advisor who sold the mutual fund & he is paid every year you hold the fund. In the long run, way more expensive than the one time buy and then sell commissions on a stock or ETF

Its the biggest racket wall street ever invented
 

train

New member
Jul 29, 2002
6,992
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Above 7
Compromised said:
Harper throwing money at the auto sector is not going to help us. Harper has shown a distain for conservative fiscal policy and has spent like a drunken sailor on shore leave.
I agree about not throwing money at the auto-sector. The $80 million to Ford was a waste. As far as spending money like a drunken sailor your little man Dion's election promises, excluding the carbon tax in's and out's , outstrip every other party's promises by about 2 or 3 to 1. Perhaps you should keep up to date with what he wants to spend if elected.

Dion's green shift is a delightful idea that is simply being presented at the wrong time to get any traction. Neither is talking about how much of our economy is based on the US, neither is offering a solution to the approaching storm.
And you have the nerve to question other people's critical reasoning skills :D It's Harper's job at the moment to try to calm the waters, panic just exacerbates the problem. The first step in a slolution is keeping or restoring confidence. Right now Congress is fucking that up.

Criticising individual politicians for their failure to have either a vision or to present a compelling economic blueprint is not the same as suggesting that there is no place for government regulation.
There were a huge number of regulations brought in in both the US and Canada after Enron. There were very extensive and expensive for all concerned. They have obviously had a wonderful impact haven't they ?

I didn't say there was no place for Government regulations you idiot I questioned how you could be so disdain of politicians on one hand and yet wish to increase their control on the other. Not a difficult for most to comprehend - although you seem to be having trouble with it.
 

emvee

Member
Nov 8, 2004
458
0
16
Pu'u Ola'i Beach
JohnLarue said:
The trailer fees from the mutual funds are what most of these so-called experts make the majority of there revenue from.
Most of these guys are really salesmen first, investment experts (cough) second. There are some good ones, but they are in the minority

Ask them about the fees associated with mutual funds.
The first thing out of their mouth is "we do not charge commissions"
That does not answer the question
Every year (quarter??) a Management Expense Ratio is deducted from your MF assets. The majority of this MER goes to pay the advisor who sold the mutual fund & he is paid every year you hold the fund. In the long run, way more expensive than the one time buy and then sell commissions on a stock or ETF

Its the biggest racket wall street ever invented
You are so right JohnLarue. At one point Mutual Funds were the way to get diversification for small investors. With the number of ETFs out there now, they are non longer needed for this purpose.

I think they only exist today because they've been around for a while and people are familiar with them and that less sophisticated small investors think of ETFs appearing like stocks as far as risk profiles are concerned.
 
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