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RBC Hikes Rates on Secured Lines of Credit
As TD Bank, Scotia Bank, BMO and CIBC increased the interest rate on existing secured and unsecured lines of credit , Royal Bank remained the lone holdout. No longer. Effective January 5, 2010, RBC is increasing the interest rate on existing credit lines by 1%. The bank is sending out letters ...
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Why Gold could be a Bubble
Recent returns from conventional asset classes such as stocks and bonds have been, to put it mildly, disappointing. But, there is one asset class that has posted red-hot returns: gold. Since 2000, the price of gold has more than doubled in Canadian dollar terms but the price trend has been ...
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This and That: 100x ETFs, TFSAs and more…
It is funny and incredible at the same time. Jon Chevreau reported on the Wealthy Boomer Blog that as a joke an author faked a news release announcing the launch of the first 100x leveraged ETFs — the Kelly Daily NASDAQ 100 Bull 100x ETF (Ticker: SOAR) and the Kelly Daily NASDAQ 100 ...
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What are these home owners thinking?
We are just recovering from a punishing recession in which millions of jobs were lost and portfolios decimated by a market downturn. Across the border, home owners are defaulting on their mortgages in record numbers because they loaded up on mortgage debt at teaser rates and were unable to make ...
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New PowerShares Mutual Funds
Unlike Mackenzie, which opted for a strategy of attacking the enemy , Invesco Trimark is adopting a strategy that can only be described as “if you can’t beat them, join them”. As Jon Chevreau reported yesterday, Invesco Trimark has launched mutual funds that hold US-listed ...
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Derek Foster Attempts a Comeback
I was a big fan of the Getting Going column that Jonathan Clements used to write The Wall Street Journal . Mr. Clements does not write for the Journal anymore but he has a book out called The Little Book of Main Street Money: 21 Simple Truths that Help Real People Make Real Money . The book ...
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Book Review: Understanding Wall Street
Book Review: Understanding Wall Street
canadiancapitalist.com — I was surprised to learn that this book by Jeffrey Little and Lucien Rhodes was first published over 30 years ago, is now in its fifth edition and has sold over one million copies. I say surprised because I hadn’t even heard of the book in ... (more) Book Review: Understanding Wall Street
TD Canada Trust offers up to $250 cash
TD Canada Trust, which used to attract new customers by offering iPods , is now offering hard, cold cash of up to $250 to customers opening a new bank account . The promotion was initially limited to a few locations but TD Bank has now extended it to all its branches. There are three tiers ...
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The Sad Story of Nortel LTD Beneficiaries
Among the many injustices surrounding Nortel’s bankruptcy — and there are many — the one that is the most heart-wrenching is the uncertainty faced by former employees who are currently disabled and are receiving benefits from the company’s long-term disability (LTD) ...
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Financial Security: It’s Simpler Than You Think
[Note: Today's post is an excerpt from a recent new book titled " You Can't Eat Your Furniture: A Simple Plan For a Well-Fed Retirement ". The author, Robert Chown, is an investment advisor with one of Canada's leading investment firms. In the first chapter, part of which is excerpted ...
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This and That: Who killed Nortel and more …
Ten years back Nortel looked invincible. Today, it is in bankruptcy protection and its business units are being sold off piece by piece. The Ottawa Citizen’s James Bagnall is writing an eight-part series on the fall of an once-proud telecommunications giant . There is a widespread ...
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2009 Globe and Mail Discount Broker Rankings
canadiancapitalist.com — For the fourth year running, Qtrade finished first in the Globe and Mail’s ranking of online discount brokers . Credential Direct , BMO InvestorLine , Scotia iTrade and RBC Direct Investin g round out the top five. TD Waterhouse missed a spot ... (more) 2009 Globe and Mail Discount Broker Rankings
Returns of the Top 10 Canadian Equity Funds (by assets) of 2004
Note: Today’s post takes a look at the the performance of the top 10 Canadian mutual funds (by assets) of 2004 over the next five years. The results simply confirm yesterday’s conclusions about the performance of top 10 global equity funds over the next five years, so feel free to ...
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Mackenzie hits back at ETFs, Part 2
It turns out Mackenzie Financial has been “fighting back” against index funds for years. Check out this column titled “ Exploding fund myths ” in the Financial Post dated August 10, 2004. It features two tables listing the top-10 funds in the Global Equity and Canadian ...
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Mackenzie hits back at ETFs, Part 1
Mackenzie Financial’s marketing brochure “ I thought I wanted an ETF ” purports to clear up some of the assertions surrounding Exchange-Traded Funds but instead turns out to be an easily-ridiculed piece of propaganda. The brochure clarifies the following assertions about ETFs: ...
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This and That: Spendthrift celebrities and more…
Add one more star player to the long list of athletes who earned millions but ended up broke. The Boston Globe reported the sad story of Antoine Walker, a Celtics star, who squandered an estimated $110 million in earnings but is now facing fraud charges for writing bad cheques . Larry ...
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Cost of a Future University Degree: $92,369
canadiancapitalist.com — Parents could be forgiven for going into sticker shock after reading press reports on the release of a TD Economics Report titled The Future Cost of a University Degree . Media reports gave prominent coverage to the headline numbers: an average cost ... (more) Cost of a Future University Degree: $92,369
Reader Tip: Use Prepaid Credit Cards for Online Purchases
[ NB: Thanks to reader Dave for today's tip. If you have any story ideas, comments or tips, feel free to contact me . ] Prepaid Credit cards are not as big here as in the US but a few are available — Royal Bank, for instance, offers a prepaid Visa card . I don’t think these cards ...
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More Exchange-Traded Funds from BMO
BMO has added nine new ETFs to its existing line-up bringing the total count to 13. Two of the new ETFs — BMO Emerging Markets Equity (ZEM) and BMO International Equity Hedged to CAD (ZDM) — were already in the works, according to an initial prospectus filed with regulators (See ...
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One More Reason to Avoid Labour-Sponsored Funds
canadiancapitalist.com — Labour-Sponsored Investment Funds (LSIFs) have sky-high MERs and past returns have been outstandingly poor (See Labour Funds are best avoided and Dumping the Labour-Sponsored Investment Fund ). Now, add one more strike to this list of negatives: ... (more) One More Reason to Avoid Labour-Sponsored Funds