The last 10 days or so have been quite volatile on the markets with wild drops, sudden spurts up and indecision and confusion on whether this is a “correction”, a “collapse” or a “great time to buy”. To quote a well-known media maven I’m an Indexer I don’t Care What the Index Did Today, although I did buy in the middle of all of this, because I had money to put in my son’s RDSP (but that is very long-term savings, so again, who cares). There is agreement that China’s economic cogitations seems to have been a catalyst for all this market tom-foolery, but we will only know for sure in a few months when we look back on things.
Is this a good time to buy into the market? Will oil stocks rebound? How will a minority government affect our economy? To quote Kent Brockman, ” Professor, without knowing precisely what the danger is, would you say it’s time for our viewers to crack each other’s heads open and feast on the goo inside”. Do you have any Gorgonzola (see video at bottom for explanation)? This and many other questions I can answer simply, “I have no bloody idea!”.
Seems like my Twitter feed might make it to 2500 actual followers (I haven’t paid for any followers, nor have I used skullduggery to inflate those numbers either).
Back to school is here again, with schools opening next week, and in some corners schools have already opened. I can tell it is back to school time, as there is Haloween candy in the stores as well.
My Writings for Week Ending August 28th
The summer is slowly coming to a close and an entertaining fall lies ahead (with plenty of election shenanigans and tom-foolery) :
- More inflation numbers seem to be ignored on the campaign front, with Gas Dampening the CPI for July. Oil at $40 a barrel is a doubled-edged sword that is cutting the Canadian economy to pieces.
- I went back to my archives for a follow-up on my problems with loyalty cards getting hacked with Auto Loading Your Loyalty Card is a Bad Idea, and it really is a very bad idea.
- A real oldie but goody for me is to remember that In Banking All is Negotiable, and I will be going in to spread happiness at my local TD branch following my own advice.
Tweet of the week
I did a Tweets of the week already
Plenty of Good Cheese Stories from this Week
Do you have enough money that you are trying to plan how to pass your riches onto your children? Would you like to adopt me? How about my kids? Well the Blunt Bean Counter’s summer hiatus continues on with an older post about how to pass your money on to your family (while you are alive) and he explains this in, A Family Vacation- A Memory Worth Not Dying For . If you do go on vacation and you find a cheese shop remember to ask for some Venezuelan beaver cheese (if in stock).
Many folks have passed on this message thanks to the undulations of the stock market, but Mark from 2nd Career Search passes it on as well with Don’t Panic, and that is quite true. If you think you are invested in the right areas, then relax, this kind of stuff happens. If you are heavily leveraged in Camembert futures, you might want to rethink your investing concepts. How do the experts navigate these troubled waters during stock market tumult? Mark from My Own Advisor gives his ideas with How I manage my DIY Portfolio. He has a smoother perspective on things, much like the smooth taste of double gloucester. If you are going to invest, what investment house you use can be quite important and Frugal Trader helps out with a BMO Investorline Review, which seems quite popular, almost as popular as Cheddar, but not necessarily around these parts. The Canadian Couch Potato, which might be served with emmental, wondered Is a Pullback Really a Buying Opportunity ?
Barry from Money We Have wants to help us save (in these troubled investing times) with 7 Common Money Mistakes to Avoid When Trying to Save, very helpful things to avoid. It is kind of like when you want to lose weight you assume you should starve yourself, when in fact if you simply snacked on some Ilchester and had a healthy diet, you might be better off. Sorry about the bazuki music.
A while ago Michael James answered a question from a reader with Reader Question: Market Participation Rate, where he answers a question about market-linked guaranteed investment products. As usual the advertised “results” may not be exactly as portrayed, in stark contrast to advertisements about white Stilton which cannot capture its wonderful taste. This all seems rather cheesy doesn’t it?
Do You Have Any Red Leicester ?
Other than the Late Parrot sketch, this is one of my favorite sketches from the Monty Python troop :
2015 Random Thoughts
- January 2nd Random Thoughts on 2014, Welcome to MMXV and #BestOf
- January 9th Frigid Temps, Plunging Oil, Paris and #BestThisWeek
- January 16th Canadian Economy on the Edge, Frigid Temps and #BestThisWeek
- January 23rd Looser Money, Plummeting Loons and #BestThisWeek
- January 30th CLBs, Weak Loons, Tax Time, Superb Owls and #BestThisWeek
- February 6th Superb Decisions, Gas Going Up, Rugby and #BestThisWeek
- February 13th RRSPs, Valentines, 50 Shades of Debt and #BestOfThisWeek
- February 20th Lent Begins, Freezing Temps, Apples and RRSP and #BestOfThisWeek
- February 27th RRSPs, Saint David, Right Arm and #BestOfThisWeek
- March 6th Illness, K-Cups, Interest Rates and #BestOfThisWeek
- March 13th March Madness, Taxes, Friday the 13th and #BestOfThisWeek
- March 20th Spring has Sprung, Ten Years, The Madness and #BestOfThisWeek
- March 27th Death of EPost, More Madness, and #BestMoneyStories
- April 10th Senators, Retiring Rich and #BestMoneyStories
- April 17th Playoffs, Tax Time, Beer tax and #BestMoneyStories
- April 24th RRIF Allowances, Bursary Changes, Budgets and #BestMoneyStories
- May 1st Tax Extensions, Golf Season, Bank Fees, May Day and #BestMoneyStories
- May 8th Alberta Valium, Motherâ€™s Day, Che Guevara, Pay Day Loans and #BestMoneyStories
- May 15th Starbucks, Monty Burns and #BestMoneyStories
- May 22nd Coach Money, CPP Up 18 pct, Losing $15B and #BestMoneyStories
- May 29th Easy Money, Better Cell Deals, Dirty Football and #BestMoneyStories
- June 5th Starbucks, Hacked Government Folk and #BestMoneyStories
- June 12th Voldemort for PM, HSBC Cuts 50K, Hockey Talk and #BestMoneyStories
- June 19th Aeroplan Student Loans, Dadâ€™s Day, Kill CSBs and #BestMoneyStories
- June 26th Summer is Here, Canada Day, Christmas and #BestMoneyStories
- July 3rd 2 Day Work Weeks, 4th of July, Greece, and #BestMoneyStories
- July 10th Glitches, Greece, Recessions and #BestMoneyStories
- July 17th Loosest Money, Weddings, Greece and #BestMoneyStories
- July 24th, Family Allowance, Diving Dollar, Access Sharing and #BestMoneyStories
- July 31st, Elections, Heat, Cheap Oil, and #BestMoneyStories
- August 7th, Cheap Gold, Cheap Oil, Weak Dollar, Election Week 1 and #BestMoneyStories
- August 14th, RDSPs, Thrifty NFLers , Election Ho Hum and #BestMoneyStories
- August 21st, Rhinos Return, No Good Debt, Election Banter and #BestMoneyStories
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