Canadians are Investing More

in Nortel, Stats Canada

More Canadians are Investing

That is a good thing, I guess. Hopefully these people are not simply throwing their money around “Willy Nilly” and simply buying Mutual Funds or the like, my hope is they are reading blogs and doing research on where to put their money to get the type of investing experience that they need.

In 2006, the number of people reporting investment income was up 5.4% from 2005, while the income was up 16.3%. This gain in investment income in 2006 was more than double the 7.9% growth rate observed in 2005. (In comparisons involving dollar amounts, all figures for previous years have been adjusted for inflation, as measured by the Consumer Price Index.)

Last year was a relatively Bull Market, so this is not very surprising, but still good to read as well.

Investment income
20062005 to 200620062005 to 20062006
Taxfilers reporting investment incomeInvestment incomeTaxfilers reporting investment income
number% change$ thousands% change%
Newfoundland and Labrador78,4908.6176,04119.920
Prince Edward Island30,3506.797,58010.930
Nova Scotia189,2604.8936,0889.928
New Brunswick138,6005.5434,18013.825
British Columbia1,205,1106.66,642,85821.240
Northwest Territories5,3003.528,24879.420
Note:Due to rounding, components may not add up to totals.

Nortel in the Black?

Former High Tech darling Nortel announced relatively good numbers showing a profit in Q3, and relatively “solid” .

The Company reported net earnings in the third quarter of 2007 of $27 million, or $0.05 per common share on a diluted basis, compared to net loss of $63 million, or $0.14 per common share on a diluted basis, in the third quarter of 2006 and a net loss of $37 million, or $0.07 per common share on a diluted basis, in the second quarter of 2007.

Am I saying maybe it’s time to invest in the former High Tech Powerhouse? No, that is your call, and you better have a strong stomach because previous history suggests this could easily be a “blip”.

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