News   GLOBAL  |  Apr 02, 2020
 8.4K     0 
News   GLOBAL  |  Apr 01, 2020
 39K     0 
News   GLOBAL  |  Apr 01, 2020
 4.7K     0 

Status
Not open for further replies.
EGLX and BNXA are a couple stocks I'm holding on to for further growth:


ah a Banxa bro. Been in since the twos and am very happy with the performance. Some of these bitcoin-y stocks are like money printers. Scary volatility but fun nonetheless.
 
ah a Banxa bro. Been in since the twos and am very happy with the performance. Some of these bitcoin-y stocks are like money printers. Scary volatility but fun nonetheless.

I have more faith in Banxa than Hive. Based on some reports, people are forecasting it be around $15 later on in the year. With crypto not going away anytime soon, it could very well be possible. But it'll be one helluva volatile ride getting there. ;)

Banxa are expected to present at a couple of virtual conferences this and next week. It could help boost its presence and drive up more awareness and volumes.

On a separate note, EGLX continues to be on fire in the past several days including today.
 
Telus just made existing shareholders who are playing the long game, hold on even longer. At least there's the dividend. 😭😅

 
Toronto-based Investment Manager Bridging Finance Inc. collapsed on Friday evening. The OSC has frozen their funds and put PricewaterhouseCoppers in charge of the business.
They had about $2billion in assets in their funds, which were mostly in the private debt class. They specialised in short to mid-term loans to emerging businesses and those who couldn't get regular bank rates because of credit rating issues; the idea being to lend money to these businesses that had proven future receivables on the books, but still needed interim cash to fund day-to-day operating expenses for a few months until they got it, hence the name "bridging finance".

It turns out the whole thing may have been a sham run by the owners, who are husband and wife. It sounds like the investors money was just going all over the place, including tens of millions into their personal bank accounts. These funds were sold to retail investors through third party brokers and there were apparently whispers of bad things going on as early as a year ago, when both Scotia and RBC allegedly blacklisted the company and banned their advisors from selling or recommending their products. TD apparently did not follow, and continued to allow their financial advisors to sell the funds. Also coming out is a long list of, shall we say, interesting characters directly or indirectly involved in this business. One is the famous Gary Ng, who apparently purchased part of his stake in this firm using money lent to him by the firms' own funds themselves without disclosure to the fund investors that's where their money went; an extraordinary breach of conflict of interest rules if true.


This is a really big black eye for the industry. $2B AUM doesn't put them anywhere near a top-10 or even top-50 list of investment managers, but it's a big amount to swallow as being run as a fraudulent business. At least the OSC managed to get in before the whole well had dried up. This is certain to roil the Canadian markets on Monday, though the firm invested only in the debt markets, not the equity markets.

I feel bad for the regular investors who put something of their retirement savings here, and may now both lose some money and have whatever is left frozen for months if not more than a year while the investigation is done. Also the regular worker bees at this company (receptionists, operations and trade processing, IT staff, etc.) who probably had zero idea what was going on up in the executive offices and have now all lost their jobs with absolutely zero warning.
 
Last edited:
The Globe and Mail has an update and a name familiar to all here popped up...

Documents filed in court depict a complex web of loans and payments between Bridging funds, clients, owners and executives that will take time to work through while the money manager is under the control of PwC.

The transactions include the $19.5-million payment from Mr. McCoshen, as well as Bridging’s decision to assign to Mr. McCoshen a large loan it made to troubled construction company Bondfield Construction at cost and for no payment.

Further in the local construction industry, one of the part-owners of this investment firm appears to be Jenny Coco, an owner and the CEO of Coco Paving.

This firm's entire situation stinks to high heaven.
 
Last edited:

I’ll say it again: We’re in a massive market bubble — and when it pops a lot of investors will get wiped out​

 

I’ll say it again: We’re in a massive market bubble — and when it pops a lot of investors will get wiped out​

Interesting article - but demand will go up as long as there are enough investors. There will need to be a major shock before it will come down.
 
Interesting article - but demand will go up as long as there are enough investors. There will need to be a major shock before it will come down.
That’s the rationale of buying non-dividend paying stocks. One has to hope that there’s always someone willing to pay more than you did, and repeat.
 
As someone who is relatively new to the stock market, I'm looking at Wealth Simple or Questrade to get my feet wet and play with a small amount of money.

Does anyone have any experience with either program? What do you like or dislike?
 
As someone who is relatively new to the stock market, I'm looking at Wealth Simple or Questrade to get my feet wet and play with a small amount of money.

Does anyone have any experience with either program? What do you like or dislike?
Questrade all the way, forget about Wealth Simple , too many delays , too basic , i get why some people many like Wealth Simple and the whole buying parts of shares with no commission , but long term its not worth it

I use Questrade , TD and IB and have +15 years experience with trading and investing for myself , and had friends who used wealth simple before

Questrade is something you can start as a beginner and continue until you retire , with so many options , and different accounts types and better tech support , better platform , and its organized better , but they do have a min. of $1000 to open an account , also its commission free for ETF buying ( you just pay the network fees which is like a $0.01 most of the time for me when I reinvest dividends monthly)
 
Last edited:
also to any other beginners out there , beware of fake investing Gurus like Rich Dad Poor Dad ---> Robert Kiyosaki , who calls for a crash every year , finally someone called him out on it on twitter with proof
IMG_20210926_234158.jpg
 
also to any other beginners out there , beware of fake investing Gurus like Rich Dad Poor Dad ---> Robert Kiyosaki , who calls for a crash every year , finally someone called him out on it on twitter with proof
View attachment 355295

While I'm not for taking gurus too seriously; I am also for thoughtful, cautious investing, particularly for novice investors.

I have to say, the S&P has trading multiple (price to earnings ratio) of 36.8 overall.

I do happen to think that's utterly insane.

Its more than 80% above historic norms.

None of that means there will be a crash this year, or next.............

But it certainly seems like a compelling case for caution.
 
While I'm not for taking gurus too seriously; I am also for thoughtful, cautious investing, particularly for novice investors.

I have to say, the S&P has trading multiple (price to earnings ratio) of 36.8 overall.

I do happen to think that's utterly insane.

Its more than 80% above historic norms.

None of that means there will be a crash this year, or next.............

But it certainly seems like a compelling case for caution.
the key to S&P 500 and historic PE ratios is to factor in current low interest rates , investors are willing to pay more for S&P 500 due to historic low interest rates as compared to past higher interest rates

that and the fact we have a nice yield curve in US bonds, once the yield curve inverts (meaning short term rates higher then long term rates i will be cautious, as an inverted yield curve has predicted every recession , even the covid sell off
2019 yield curve inversion
 
Didn't he say that Rich Dad Poor Dad was fiction?
it doesn't matter if his book is fiction or not , the fact is these guru's are misleading newbie investors with very poor advice , they often use dooms day type scenarios to sell books newletters, fear etc... I've seen it all over the years

here is my list fake guru's a.k.a broken clocks, Peter Schiff, Mike Maloney , Gerald Celente , Jim Rodgers , Marc Faber, etc...

now as far as great books you can pickup some great wisdom from any book by or about : Warren Buffett , Charlie Munger , Peter Lynch , Philip Fisher

Benjamjn Graham "The Intelligent Investor: The Definitive Book on Value Investing",

"Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications" by John J. Murphy

Market Wizards
by Jack D. Schwager

The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness by Morgan Housel

all these books can be found at your local Library for free
 
Last edited:
Status
Not open for further replies.

Back
Top