Financial Apocalypse and It’s Effect on Mutual Funds
Meltdown and Mutual Funds
According to IFIC (Investment Funds Institute of Canada) Canadians cashed in a lot of Mutual Funds in November. The selling seems to be slowing, but there are less assets in Mutual Funds this year compared to last year at this time (but then again that could be due to the fact that the assets aren’t worth nearly as much as they were last year either).
“We remain cautiously optimistic” said Pat Dunwoody, Vice President of Member Services and Communications with IFIC. “Asset declines slowed last month as did net redemptions. Hopefully, the actions taken this month by governments worldwide, coupled with the transition to a new government and new economic team in the United States will continue to calm markets and instill confidence by all market participants.” She said.
Isn’t that what the Captain of the Titanic said just before he asked the band to play? Maybe not, or maybe investors have become tired of the large MER fees most mutual funds charge? Not likely either.
Advent Financial Calendar Box Day 17
You open this box and it is another scroll, but on this is a list:
- Fix baseboards in basement
- Fix hole in ceiling
- Put gate in back fence
- Repaint bedroom
- Replace windows
- …..
It’s a list of projects around the house that need to be done, well that is another part of Financial Planning for next year, that is for sure. If the project is a large cash outlay (say like Windows), then you had better budget the money correctly, or you won’t get that project even started, let alone finished.
For those interested, yes that is a partial list of the things I need to get done around the “Big Cajun Crab Shack”.
I Cannot Write
I learned yesterday after writing a Public Service exam that I cannot write. For my regular readers I can hear you already commenting, “We knew THAT all along!“, but no I am not commenting on content, but I am commenting on the physical act of write with paper or pen. I wrote about 15 pages of answers using pencils and paper and now my wrist is sore and I have no feeling in my index finger. I never did physically write well, and was “over the moon” when the world moved away from the written word (i.e. on paper), and went to typing as it’s method of transliteration, but given what a physical wreck I am after one 3 hour exam, maybe I should rethink ever going back to University!
The exam was challenging but fun in a weird way as well. We shall see whether the content of my scrawlings was correct or not.
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December 16th, 2008 at 3:11 PM
I’m starting to think “cautiously optimistic”, when translated for us common people, means “run for the hills!”
nancy (aka money coach)’s last blog post..Why businesses need liberal arts majors as much as they need MBAs
December 16th, 2008 at 3:20 PM
Absolutely! Sit back and let the blades do the work for you (they say that to the chickens just before they put them into the abertoire)