Comments on: passwords http://blog.cfrq.net/chk/archives/2006/02/16/passwords/ yet another warped perspective Thu, 04 Dec 2008 17:23:48 +0000 http://wordpress.org/?v=2.6.5 By: Jeff K http://blog.cfrq.net/chk/archives/2006/02/16/passwords/#comment-5420 Jeff K Fri, 17 Feb 2006 21:23:56 +0000 http://blog.cfrq.net/chk/archives/2006/02/16/passwords/#comment-5420 If you do trade foreign ADRs or stocks on the NYSE inside an RRSP, since the rules don't allow you to have a US$ SDRRSP, you can direct the proceeds of a sale straight into a US$ money market fund and bypass the forex spread. The best is to trade in-trust-for a child in a US-denominated account, then the tax is lower, but I imagine most folks' liquid capital is in RRSPs. RESP rules are even worse -- I hate 'em. I laugh everytime I see that Scotia Bank ad during the Olympics where some dumbass can't figure out more than one mutual fund. ..then I cry when I hear how many people lost money 2001->2003 in mutual funds, bailed, and lost out on the 2003->2006 escalator-ride when they went back up. Scary stuff. Disclaimer: I know nothing and give no advice. What was one Toronto paper's marketing slogan... hm, "They don't read us for the financial pages." If you do trade foreign ADRs or stocks on the NYSE inside an RRSP, since the rules don’t allow you to have a US$ SDRRSP, you can direct the proceeds of a sale straight into a US$ money market fund and bypass the forex spread.

The best is to trade in-trust-for a child in a US-denominated account, then the tax is lower, but I imagine most folks’ liquid capital is in RRSPs. RESP rules are even worse — I hate ‘em.

I laugh everytime I see that Scotia Bank ad during the Olympics where some dumbass can’t figure out more than one mutual fund. ..then I cry when I hear how many people lost money 2001->2003 in mutual funds, bailed, and lost out on the 2003->2006 escalator-ride when they went back up. Scary stuff.

Disclaimer: I know nothing and give no advice. What was one Toronto paper’s marketing slogan… hm, “They don’t read us for the financial pages.”

]]> By: Jeff K http://blog.cfrq.net/chk/archives/2006/02/16/passwords/#comment-5419 Jeff K Fri, 17 Feb 2006 15:51:38 +0000 http://blog.cfrq.net/chk/archives/2006/02/16/passwords/#comment-5419 Er, that was "curvaceous". Er, that was “curvaceous”.

]]> By: Jeff K http://blog.cfrq.net/chk/archives/2006/02/16/passwords/#comment-5418 Jeff K Fri, 17 Feb 2006 14:24:35 +0000 http://blog.cfrq.net/chk/archives/2006/02/16/passwords/#comment-5418 Yeah, the false sense of security is that you don't need to watch your RRSP. I trade in it almost every day. I locked in $10k of gains on Valentines in fact. I also unloaded Petro Canada for a 2x gain. I think I'll be busy for at least 2 weeks moving stuff around for this year's contributions. Most Canadians don't realize the foreign contribution limit is gone and even more don't care, even though their resource mutuals / stocks are sky-high and the dollar is sky high and it's time to get out there and pillage the foreign markets. Aye matey! I made a few hundred in just a couple of a days on a couple of Taiwanese ADRs this week (still holding), and I'm getting excited about raping the Japanese market in a little while, down 6% or so after a rapid rise from the depths in the last 2 months. The Japanese finiancial sector is not good, and for example, Toyota is already sky high, but there's got to be some curvascious stock just waiting for me. Disclaimers: It's probably better to earn capital gains outside an RRSP, I'm no adviser, I just think trading is better than sex, and since its all in an RRSP, I can't even pay for, um... things I might want, with the money. Yeah, the false sense of security is that you don’t need to watch your RRSP. I trade in it almost every day. I locked in $10k of gains on Valentines in fact. I also unloaded Petro Canada for a 2x gain. I think I’ll be busy for at least 2 weeks moving stuff around for this year’s contributions.

Most Canadians don’t realize the foreign contribution limit is gone and even more don’t care, even though their resource mutuals / stocks are sky-high and the dollar is sky high and it’s time to get out there and pillage the foreign markets. Aye matey! I made a few hundred in just a couple of a days on a couple of Taiwanese ADRs this week (still holding), and I’m getting excited about raping the Japanese market in a little while, down 6% or so after a rapid rise from the depths in the last 2 months. The Japanese finiancial sector is not good, and for example, Toyota is already sky high, but there’s got to be some curvascious stock just waiting for me.

Disclaimers: It’s probably better to earn capital gains outside an RRSP, I’m no adviser, I just think trading is better than sex, and since its all in an RRSP, I can’t even pay for, um… things I might want, with the money.

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