Investorial

After featuring an “investment novel” about suspect venture fund blackholes that I found on Canadian Business Online, I went back to the site a few more times and found some pleasant changes. I used to be a subscriber of the magazine until I got fed up with its many pages of advertising editorials. Advertising editorials were pages of information designed to look like articles but were at least ethical enough to state that it’s actually an advertisement discreetly.

I realized that Canadian Business Online wore its new look just recently. I browsed through its roster list of columnists, pondering if I could ever write at the level of these professional journalists. (Hey, a blogger can dream right?).

I noticed something instantly. Out of the dizzying credentials of CFAs, accounting principals, and financial journalists, a very plain-looking staff writer Calvin Leung stood out. Yes, he’s Asian, but what caught my attention was his by-line compared to the other accomplished financial journalists.

Prior to joining the magazine, in 2005, [Calvin] worked in sales at Proctor & Gamble, in marketing at Unilever and in advertising as a freelance copywriter.

I’m not trying to take away anything from Calvin. In fact, with my contrarian thinking, I was actually excited to read (more…)

I’ve been participating in a comment thread with Canadian Capitalist about alternative investments. I mentioned an aversion towards ETFs because to what I understand, ETF’s are sort of like derivatives? Though I was hard pressed to find such a definition online.

Investopedia defines Exchange Traded Funds (ETFs) as:

A security that tracks an index, a commodity or a basket of assets like an index fund, but trades like a stock on an exchange, thus experiencing price changes throughout the day as it is bought and sold.

Because it trades like a stock whose price fluctuates daily, an ETF does not have its net asset value (NAV) calculated every day like a mutual fund does.

Great, now we know what the public knows. Here’s what I don’t know. My question is “What’s the asset backing the ETF’s?” Are there underlying stock? And how can there be such frequent trading and movement of money in and out without triggering (more…)

This truly sucks for Canadian traders! I’ve been lamenting the fall of Ameritrade Canada as the nation’s lowest cost discount brokerage (without using a tiered/incentive system). Ameritrade Canada offered US equity trades at US$10.99 per trade. There simply aren’t any discount brokerage that can come close this offer without being a high mileage frequent trader.

TD Waterhouse Canada bought out Ameritrade Canada on January 24, 2006 to strengthen their brokerage business. They are currently in the final stages of preparing to convert Ameritrade Canada accounts to TD Waterhouse accounts. The transition is expected to be complete on June 3, 2006.

That’s right! If you’re wondering whether TD will keep the same fee schedule, not a chance! The new fees will apply to new accounts effective June 3, 2006. The current Ameritrade Canada fees will remain in effect until close of business on June 2, 2006. If you are currently an Ameritrade Canada account holder, do remember that (more…)

When something sounds too good to be true, it usually is! I’m not simply referring to my fib on April Fool’s Day, but I’d like to open a discussion about investors that are drawn to “The Titanic” of investments like moths to a flame.

The Titanic, thought to be the fastest ship afloat of her time and widely regaled as almost unsinkable. Yet, the infamous British liner sank on the night of April 14, 1912, after crashing into an iceberg in the North Atlantic Sea. The Titanic sounded too good to be true on her maiden voyage. But can you imagine the excitement of those passengers as they became the first to board this ship?

The Portus Titanic
Let’s bring this back to the world of investments. What about those first investors of a hedge fund called Portus? With no discernable track record, these investors gleamed with dollar bills in their eyes, smiling at the promise of sweet returns in both up and down markets, happily gave millions to a scheming co-founder who fled to Israel.

Another Titanic Scheme
I recently found another example of a investment scheme gone bad. Hidden in the pages of Canadian Business online lies an investigative report about (more…)

Of all that days that I receive an offer from CBS Marketwatch to buy Investorial, it had to be April 1st! I’m so happy! I can’t disclose the details of the deal as yet but suffice to say I’ll be selling out my soul from here onwards.

Why is CBS Marketwatch buying me? Because I made 2 glorious reviews of one of their star columnists Herb Greenberg here and here. Simple ain’t it?

Sorry Canadian Capitalist and Investing Intelligently! I’d say I’ll watch out for an opportunity to get you a deal as well, but I don’t want to. LOL

By the way, hope you are having a wonderful April Fool’s Day!