Canadian Personal Finance Blog

Archive for January 22nd, 2008

For those of you not listening to CBC Radio One that is the highlight of my analysis about the current Stock Market fun. The host Kevin Sylvester was very kind to me and led me through the questions very calmly, and it was a lot of fun. What did you miss me comment? Here are some other highlights (other than trite Marvel Comics quotations):

• Now is not the time to panic. If you have an investing plan, stick to it. If your plan says, SELL at a certain price, sell at that price, if not, don’t worry, unless you invested in International Buggy Whips, then be worried.
• My actual name was used, which some folks may not know.
• The retiree who talked before me espoused a very conservative investing strategy, and I reinforced her statements.
• I did the whole thing from my Mechanic’s lunch room, as my car was in the shop for repairs.
• I invest for the long term and any short term money I have, I do not have in stocks, because I need the money right away, and cannot deal with Stock Volatility. My investments are for retirement and thus have long term goals.
• I didn’t mention I bought more banks yesterday, and today they have rebounded nicely, however at the time I didn’t know that was going to happen.
• Thanks to Radio One having a delay across the country, I was able to listen to myself. I didn’t sound too crazy.
• It is your money, you must make the decision and live with the consequences.

Market Crisis Over?

Not on your life is my opinion. My guess would be things may stabilize a fair amount, but at the end of it as long as the Alleged Experts keep saying a recession is coming, this kind of silliness is going to continue. Strap in for a wild ride folks.

Interest Rates Down another 1/4 Point

The Bank of Canada cut their overnight rate by a further 1/4 point today in response to all the hysteria out there, which makes debtors like me happier. Why? I have no bloody idea, but evidently it is needed and I will not complain that my mortgage interest costs have dropped again. No this is NOT a signal to go out and SPEND more, this is giving you an opportunity to pay your DEBT down faster, take advantage of it!
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