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moneysense.ca, 21/11/08
This and That: Another week, another drop
- John Heinzl wrote about dividend growth investing in The Globe and Mail. After a brutal week, all the dividend payers are even cheaper now.
- Larry Swedroe cautions investors against making the elementary mistakes that resulted in the demise of Lehman Brothers.
- Rob Carrick on the signs that you are headed for Splitsville with your investment advisor.
- Larry MacDonald likes small caps for the eventual recovery (which could be a long way off).
- Dividend Growth Investor tracked the changes in the Berkshire Hathaway portfolio in the third quarter of 2008.
- Michael James explained how a “mere” 2% MER hurts investor returns over the long run.
- Million Dollar Journey offers some interview tips that have served him well in the past.
- Preet explained the drawbacks of investing with a rear-view mirror with an example.
- The Dividend Guy on the three things that get investors into trouble.
- Take a break explained how to determine the adjusted cost base for your investments.
Have a great weekend everyone!
moneysense.ca, 21/11/08
In regards to that article about Lehman Brothers, I read that one of the head guys once said something like “never make a bet that, if lost, wouldn’t allow you to live to see another day.” Oops.
I got my first personal taste of the financial weirdness we’re in when TD rejected my recent order to purchase some more eFunds (the US currency neutral index) for my RRSP because the purchase didn’t match my “investor profile.” This despite the fact that I’ve been purchasing these same exact funds for four or five years now. I guess they view the US index as a particularly risky investment now
Thanks for the link. Try not to think about plunging stock prices over the weekend
Thanks for the link, and on my birthday no less.
Have a good weekend, hopefully the markets will regain some sanity by Monday.
Thanks for the link CC. Of course some people claim that Buffett has “lost his touch”, but given the size of his enterprise as well as previous “losses” from Buffett during the 1973-74 bear market I am inclined to still have faith in him..
Jon: I read somewhere that among other things Lehman was involved in real estate flipping. And AIG didn’t protect their downside when writing out all that CDS either.
brad: It’s happened to me before. They have some rule about adhering to the stupid investor profile they ask you to fill out. A phone call should settle matters.
Michael: I suppose I should hope that stock prices will be lower, so I can buy more. It’s hard to think that way but it would be right course of action.
DGI: I read that column too. I’m pretty sure Buffett is the one going to have the last laugh.
I think the chorus of voices denigrating Buffett could be the sign of a bottom in the US market. It’s eerily similar to the .com high flyers calling Buffett’s investment thesis antiquated at the height of the tech bubble.
Thanks for the mention CC. My portfolio took a major hit this week! Time to close my eyes and just wait for it to be over.
Hang in there FT! I wish I had even more cash to keep buying at these levels. Stocks are incredibly cheap and sooner or later the market will stop being a voting machine and do its job as a weighing machine. It’s very hard on our current net worth but this is a huge opportunity to buy at depressed prices. I know I’m being selfish but I wish the market would stay at these levels for a long time…
Thanks for the link CC – have a great weekend!
The talking heads on TV are saying that the majority of the people selling in this market are the people that HAVE to sell… Such as hedge funds trying to cover their margin calls and what not… The same talking heads are saying that many of these hedge funds are getting wiped out right now. Once this bleeding has stopped, that will be when the stock market hits bottom and long term investors will start to get back into the market.
For me personally, I’m not sure if I believe any of that nonsense. On a macro-economic level, I just look at the economic numbers and there’s no light at the end of the tunnel yet. Some say that by the time you see the light at the end of the tunnel, it’s too late to get back into the stock market. Others say that you shouldn’t try to catch a falling knife.
The absolutely wonderful thing about the markets is that there are many more opinions about investing than there are investors. And I really wouldn’t want it any other way! Go capitalism!