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Thread: Stock market thread.

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    Default Re: Stock market thread.

    Quote Originally Posted by eyemissgilmour View Post
    I agree there's some truth to this, but the word "Saving" is in RRSP too, and yet people seem to understand you can have an RRSP trading account for investing.
    Good point

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    Default Re: Stock market thread.

    Quote Originally Posted by forumname View Post
    The biggest part of the problem is that some idiot decided to call it a tax free SAVINGS account, instead of a tax free INVESTING account. Sounds like a savings account, so people assume that's what it is. Only makes sense.
    This was not just "some idiot". This was lobbied for hard by the big banks. I don't know the numbers but I would say the vast majority of TFSAs are currently sitting in savings accounts with the individual's bank instead of in an actual investment account. The difference between the knowledge of the TFSA and the knowledge of RRSPs is that RRSPs have been around since 1957 while TFSAs have only been here since 2009. There are still lots of people that don't even know TFSAs exist or why they should be used.

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    Quote Originally Posted by eyemissgilmour View Post
    Your TFSA should get your extra money first, even before your RRSP.
    RRSPs are often over used but this statement is not necessarily true. Every individual's situation is different. This is why there are financial planners out there to help you make these types of decisions. There is a large difference between a financial planner and an investor advisor and a good financial planner is definitely worth their fee.

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    Default Re: Stock market thread.

    So no traders in here?

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    Default Re: Stock market thread.

    If you need an income tax offset or some form of negative income to reduce your current tax then RRSP. If you got extra money that you want to hide and don't need the current tax offset but like avoid taxable growth on your investment, then TFSA. Both have their uses.

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    Quote Originally Posted by Mr. Guru View Post
    So no traders in here?
    I dabble a little bit, not as much now as most of my money is stuck.
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    Default Re: Stock market thread.

    What is the riskiest/most volatile stock or investment that I can choose? Like boom or bust type investment.

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    Default Re: Stock market thread.

    Quote Originally Posted by eyemissgilmour View Post
    Otherwise, unless a person believes tax rates will go down in the future, the TFSA should get funded first.
    More specifically, high interest debt paid off first, then TFSA, then RRSP.
    Agreed.

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    Default Re: Stock market thread.

    Quote Originally Posted by StuntMan12 View Post
    What is the riskiest/most volatile stock or investment that I can choose? Like boom or bust type investment.
    Bet it all on the Leafs

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    Default Re: Stock market thread.

    Quote Originally Posted by blayze View Post
    Bet it all on the Leafs
    Oh hey now I said a risky investment not a give a way.

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    Default Re: Stock market thread.

    I'd give BlackBerry a shot In hopes of a Samsung buyout. Pretty cheap right now.

    I actually have some money in Micron $MU with a potential $22 target. Bought high 14's.

    I think $ICON is a CEO play. Paying close attention to that everyday. If i played that I'd look for a gap fill with a tight risk at 6ish

    I have a few hundred dollars in CLDN too. Potential buy out and gap fill.

    Id look to short etf's like UVXY and VXX as the market continues to fade

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    I would invest in BlackBerry as a dark horse to comeback. I almost started investing in Walmart Canada but didn't bother, not long after that their stock took a hit. I think it was about 80 something dollars a share then it went into the 60's I believe? Brutal.

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    Default Re: Stock market thread.

    Quote Originally Posted by chuckcouples View Post
    RRSPs are often over used but this statement is not necessarily true. Every individual's situation is different. This is why there are financial planners out there to help you make these types of decisions. There is a large difference between a financial planner and an investor advisor and a good financial planner is definitely worth their fee.
    You can still know all you need to know about investing and finances from reading a few books and doing research. Planners may be useful for lots of people but lots of people wouldn't need the if they just expended a small amount of effort. There shouldn't be as many advisors as there are out there

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    Default Re: Stock market thread.

    Quote Originally Posted by Big Ev View Post
    You can still know all you need to know about investing and finances from reading a few books and doing research. Planners may be useful for lots of people but lots of people wouldn't need the if they just expended a small amount of effort. There shouldn't be as many advisors as there are out there
    You're half right. There are a lot of dumb advisors out there, but there are a lot of incredibly intelligent ones who do more than just sell you funds. Ones who are experts at tax and estate planning, who do all their own research and pick all their own stocks. Most people don't have the time necessary to really understand a company, let alone 30+ to build a well diversified portfolio, plus added time to monitor each company every day and know the price drivers in the company.

    Saying you can read a few books and do it properly is like saying you can read a few books and then build your own house. Sure you could put something together, but it won't be air tight.

    Also worth noting is the business of financial advisors is survival of the fittest. After your first year, the company stops paying you salary and you're all on commission, so if you don't have clients (which you won't if you're an idiot) you'll be done with it after another year or two.

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    Default Re: Stock market thread.

    Quote Originally Posted by petegreg21 View Post
    You're half right. There are a lot of dumb advisors out there, but there are a lot of incredibly intelligent ones who do more than just sell you funds. Ones who are experts at tax and estate planning, who do all their own research and pick all their own stocks. Most people don't have the time necessary to really understand a company, let alone 30+ to build a well diversified portfolio, plus added time to monitor each company every day and know the price drivers in the company.

    Saying you can read a few books and do it properly is like saying you can read a few books and then build your own house. Sure you could put something together, but it won't be air tight.
    You're also half right.

    For low income people, reading a few books is going to be more advantageous that hiring an advisor, even if they make a few mistakes in going it alone. If I ever won the lottery or if I ever hit 7 figures I fully plan on getting some help in managing it, but at the lower levels the fee of an advisor can slice through any advantage they provide.

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    Default Re: Stock market thread.

    Quote Originally Posted by forumname View Post
    You're also half right.

    For low income people, reading a few books is going to be more advantageous that hiring an advisor, even if they make a few mistakes in going it alone. If I ever won the lottery or if I ever hit 7 figures I fully plan on getting some help in managing it, but at the lower levels the fee of an advisor can slice through any advantage they provide.
    In theory, if someone with low income wanted to invest, the advisor could easily DSC the fee. Then if you hold for 5+ years you won't be paying a fee to the mutual fund.

    Advisors get paid two ways - their own fees (which they can waive) and trailers on funds paid by the mutual fund company. If you're an advisor and want to do the right thing (EDIT: for a low income investor), there's your fix.

    Also I'd caution, "a few mistakes" when you're low income can put you in a grave amount of danger. My uncle thought he knew was he was doing and lost his kids college funds after reading a few books.

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