Written by The Dividend Guy on November 1, 2006
Income trust investors suffered more than $20-billion in paper losses on their portfolios as some of Canada’s best-known companies — from telecom giants BCE and Telus to Yellow Pages, CI Financial, Canadian Oil Sands and Aeroplan — were battered by the rush selling following Mr. Flaherty’s surprise announcement that trusts will be taxed.
I think what this tells us is how vulnerable investors are to changes in government policy. I think to other examples such as the NEP in the early 80’s when the federal government’s policy changes on oil and gas destroyed that industry. Be careful out there - diversify, diversify, diversify.
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Vertigo Theme by Brian Gardner
Modified by David Zemens
What made me laugh was the talking heads dramatizing on “money evaporating.”
Money moves, it doesn’t evaporate.
It moves from one person to another,
from one investment vehicle to another.
Personally, I picked up a few trusts today.
Already made about 15% on the rebound
(markets always overreact in the short term).
I enjoy reading your articles and insights, hang in there and your picks will come through.
[…] The Dividend Guy argues that the latest blow up once again shows the importance of diversification. […]
Yeah I lost a lot of gains that I had seen in the past few month. I picked up a ton of energy trusts when natural gas prices tanked. I was up 20% in a month and now i’m back down to zero!
[…] Canadian Income Trusts Tax Melt-down Let’s face it, most investing decisions are made as easily as throwing a dice. I’vebeen told that I have a pretty hot temper, so I make it a point not to jump into things when it comes to investment decisions. This explains why I haven’t covered the recent Canadian Income Trusts melt-down like some of my peers have. There’s been some excellent discussions brewing. Almost a week has past, so here’s my perspective. […]