tag:blogger.com,1999:blog-21160339932251979712024-03-19T04:50:16.211-04:00financial tacticsagora for all matters financialUnknownnoreply@blogger.comBlogger86125tag:blogger.com,1999:blog-2116033993225197971.post-32786602836153032232010-04-29T00:49:00.019-04:002010-09-30T23:21:18.075-04:00Annus mirabilis<div class="separator" style="clear: both; text-align: center;"><a href="http://financialtactics.blogspot.com/" title="financial tactics - agora for all matters financial" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 2em;" target="_blank"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjcFDjN0UEtSoYOfxGqxttmbja12XDN6FoYxoUCeZA6jIewnpHDKLbjbx4yfMX0W5rUWloy8ZVOPzAckp9KoSRehbmrIe95aOQsltwzPPVGx2w_s1CvT42AXU1lH0YrgIQbO3ZTXc8-d_4w/s320/ft.png" /></a></div><i>Birthdays are merely symbolic of how another<br />
year has gone by and how little we've grown.</i><br />
— Jerry Seinfeld<br />
<br />
We started precisely <a href="http://financialtactics.blogspot.com/2009/04/what-another-money-blog_29.html" target="_blank">one year ago</a>, with double the postforce and ten times the financial expertise, with an initial grand plan and a statement of direction. Our accomplishments have been properly <a href="http://financialtactics.blogspot.com/2010/04/wrong-blog.html" target="_blank">enumerated</a> already. There is only one principle which we followed dependably: "We fully embrace capitalism on a good day in the markets, but tend to lean somewhat towards the other side on correction days." On chequebook-balancing days as well.<br />
<br />
A one-year old is not too smart, but quite moody, irascible, and not yet potty trained. For the party, we decided a few <a href="http://en.wikipedia.org/wiki/Anagram" target="_blank">anagrams</a> will do. Tried this <a href="http://financialtactics.blogspot.com/search/label/anagram" target="_blank">once or twice</a> before and it calmed him down.<br />
<br />
To start with, a few semiprofound caveats: the <b>stock markets</b> are a treacherous <b>trek to smacks</b>. <b>Exchange-traded funds</b> in general translate into one <b>sexed, hand-crafted gun</b>, though we weren't necessarily thinking of the <a href="http://financialtactics.blogspot.com/2009/09/tears-gas.html" target="_blank" title="(which itself anagrams to the pretty disturbing 'evil-eyed grave rat'...)">leveraged variety</a>. <b>Dividend stocks</b> anagram to <b>odd dick invests</b>. Not an endorsement...<br />
<br />
A couple of things we were already aware of: <b>mutual fund MER</b> anagrams to <b>fraudulent mum</b>, while <b>resource action</b> (another way to be <a href="http://www.loriborgman.com/Archives/2009/07-July/A%20lay%20off%20by%20any%20other%20name.html" target="_blank">shown the door</a>) anagrams to mild, <b>cute coronaries</b>. There is no other kind. Note that if we use the plural, as in a bit more massive layoffs, it gets cuter: <b>resource actions</b> anagram to <b>coarse neurotics</b>, which explains what my wise friend kindly calls the <a href="http://www.endicottalliance.org/jobcutsreports.php" target="_blank">Losers' Forum</a> — a necessary gathering place for a bit of venting and commiserating, frequented by those who are a bit on their way out. Generally speaking, reader discretion is advised here. We like peeking in such odd places, and recall a posting or two which made us chuckle. Someone determined he was due a higher severance, but was charitable: "The four weeks they stole from me will go to helping a needy executive." A comment to an article elsewhere but referenced in this forum, about a US kick-back scandal, suggests: "We should change the oath our elected officials take when entering office to the Miranda rights. It will save time in the long run."<br />
<br />
Finally, we believe that there definitely must be some hidden truth in this anagramation method: a <b>balanced portfolio</b> is indeed <b>cool and profitable</b>, while <b>ft, posting for one year</b> is revealed as <b>a stooping effrontery</b>.<br />
<br />
<i>They say of me, and so they should,<br />
It's doubtful if I come to good.<br />
I see acquaintances and friends<br />
Accumulating dividends,<br />
And making enviable names<br />
In science, art, and parlor games.<br />
But I, despite expert advice,<br />
Keep doing things I think are nice,<br />
And though to good I never come -<br />
Inseparable my nose and thumb!</i><br />
— <a href="http://en.wikipedia.org/wiki/Dorothy_Parker" target="_blank">Dorothy Parker</a> (who also published "Death<br />
and Taxes", 1931), <i>Neither Bloody Nor Bowed</i><p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com6tag:blogger.com,1999:blog-2116033993225197971.post-79238668770917231152010-04-28T00:21:00.005-04:002010-04-29T00:48:46.244-04:00Tears from a star<p>In <a href="http://en.wikipedia.org/wiki/Czeslaw_Milosz" target="_blank">Czesław Miłosz</a>'s <i>Milosz's ABC's</i> (transl. Madeline G. Levine) one of his musings starts like this:</p><blockquote><i><b>ECONOMY.</b> I don't understand a thing about it.</i><br />
</blockquote>You would expect that from a poet (some will swear economists don't understand a thing about it either). However, that doesn't mean he can ignore it (as economists are not all able to ignore poetry either — <i><b>POETRY.</b></i> I don't know a formal model about it.):<br />
<blockquote><i>I exaggerate my ignorance of economy, because earlier in my life I came to know it from an entirely nontheoretical side, as an insufficiency of money. Already as a twenty-year-old, I had discovered its ominous power, like the power of Fate, disposing of people's destinies despite their wishes and desires. The great American crisis of 1929 drove Polish immigrant laborers out of the mines and factories of France and into the streets, and I moved among crowds of them during my first visit there. In Germany, by depriving millions of people of work, the crisis prepared them to vote for Hitler.</i><br />
</blockquote>His conclusion regarding the frail us and the fallible science-art of economics:<br />
<blockquote><i>How fragile is the social organism; how easily its activity can be disrupted, I discovered in America, where at least since the sudden collapse of the market in 1929 people live as they do in California in relation to an earthquake: it could happen at any moment. There is no certainty that plans and intentions for the next year won't be suddenly thwarted. So it's no wonder that the science (or art?) of economics, which is based for the most part on attempts at foreseeing catastrophes, is highly valued, and that one can receive a <a href="http://nobelprize.org/nobel_prizes/economics/" target="_blank">Nobel Prize</a> for it.</i><br />
</blockquote><i><b>TOMORROW.</b></i> I'm not certain of one thing about it.<br />
<br />
Except, perhaps, that thing about an insufficiency of money.<p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com0tag:blogger.com,1999:blog-2116033993225197971.post-86512967856288498412010-04-26T14:18:00.014-04:002010-05-01T14:27:46.919-04:00WebBroken<p>Ashleigh Brilliant:<br />
<br />
<i>Inform all the troops that communications have completely broken down.</i><br />
<br />
%^#$ing brilliant:<br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhcO_s8OJcqlfmRaYOZTA_1bXyM9RKht0LDD-IxqCKW0-_c1OqqIp_UROo6tlzoCW8R0kpk0Y9-mN3lf0wWIOsciHITJP0QW-snfssjD1F42mpE2e76HD6XrfeWxw2-rB-3B__d_1zUZ8zg/s1600/WebBrokerUnavailable-April-2010.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;" target="_blank" title="Excreta happen."><img border="0" height="363" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhcO_s8OJcqlfmRaYOZTA_1bXyM9RKht0LDD-IxqCKW0-_c1OqqIp_UROo6tlzoCW8R0kpk0Y9-mN3lf0wWIOsciHITJP0QW-snfssjD1F42mpE2e76HD6XrfeWxw2-rB-3B__d_1zUZ8zg/s640/WebBrokerUnavailable-April-2010.jpg" width="640" /></a></div></p><p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com0tag:blogger.com,1999:blog-2116033993225197971.post-69488157079035855982010-04-24T03:17:00.031-04:002010-04-28T09:18:48.278-04:00Many happy returns<p>First of all, if the weekend finds you at a point of <i>no return</i>, do not despair. You still have until midnight Friday, April 30 to correct this.</p>Second. We did our taxes <a href="http://financialtactics.blogspot.com/2010/03/thrill-is-back.html" target="_blank">early</a> this calendar year, therefore we can now afford to have some (bittersweet) fun with the subject.<br />
<br />
<i>The Table Talk of Samuel Marchbanks</i> is a collection of <a href="http://en.wikipedia.org/wiki/Robertson_Davies" target="_blank">Robertson Davies</a>'s witty columns, signed with the pseudonym Marchbanks, in the Peterborough Examiner. The book was first published way back in 1949. The good ol' date attests to the enduring quality of everything that has to do with Canadian income taxes (though their appeal is universal), a <span title="Nothing is so permanent as a temporary government program. - Milton Friedman">temporary</span> wartime measure <a href="http://en.wikipedia.org/wiki/Income_taxes_in_Canada#History" target="_blank">introduced in 1917</a>. Here's what Marchbanks proposes on the matter:<br />
<blockquote><i>This is a time of year when I think sourly of Government expenditures. I reckon that my Income Tax pays the salary of one minor official, such as the censor of books.</i> [..] <i>Frankly I think it would be a good idea if every taxpayer were told what government stooge he maintained. Small taxpayers would then feel that they owned an eighth of a charwoman; modest taxpayers like myself would own petty officials; wealthy men, who pay a lot of taxes, would be allotted ten or twenty clerks, or a brace of deputy ministers. With this knowledge we could go to Ottawa from time to time and chivvy and nag our hirelings. Such a scheme would give a taxpayer some pride in his taxpaying and would greatly increase bureaucratic efficiency.</i></blockquote>Third, while we were engaged in calculating the medical expenses (lines 330 and 331) for several family members, the portion we could claim for each receipt after deducting the insurance refund (if any), the different totals for the one ideal twelve-month period vs. each one's 3% of net income (line 236) or $2,011 (whichever is less) threshold, and the potential refundable medical expense supplement (line 452) for all of this, we were hardly surprised to discover that <b>income taxes</b> anagrams suitably, appositely, and not so subtly into <b>toxic enemas</b>.<p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com0tag:blogger.com,1999:blog-2116033993225197971.post-90528945371124959242010-04-20T23:59:00.005-04:002010-04-25T14:07:55.505-04:00AAPL of my i...<p><i>It goes like this<br />
The fourth, the fifth<br />
The minor fall, the major lift</i></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiAYewCOxqtZ6thafaqwyw2QQQreydpMnek77NEz1U4_PdnV7BJGwmwQHpPKaE7y2iRUPLiOcJpdmQ_L37rR9KkCcPYiGBj759Uh2IuUEFNnEMa5_3EGv0Di15XO29uWb3UyEH4_JeBo3bz/s1600/AAPL-20-April-2010.jpg" target="_blank" title="Everything we see hides another thing, we always want to see what is hidden by what we see. - René Magritte" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiAYewCOxqtZ6thafaqwyw2QQQreydpMnek77NEz1U4_PdnV7BJGwmwQHpPKaE7y2iRUPLiOcJpdmQ_L37rR9KkCcPYiGBj759Uh2IuUEFNnEMa5_3EGv0Di15XO29uWb3UyEH4_JeBo3bz/s320/AAPL-20-April-2010.jpg" /></a></div><br />
Hallelujah.<br />
<br />
<span style="font-size: 78%;">Apple Inc. (AAPL), April 20, 2010.<br />
<b>Chart:</b> <a href="http://www.nasdaq.com/aspx/nasdaqlastsale.aspx?symbol=AAPL&selected=AAPL" target="_blank">NASDAQ.com</a></span><p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com0tag:blogger.com,1999:blog-2116033993225197971.post-54635185466663544532010-04-17T19:56:00.027-04:002010-04-25T19:12:13.042-04:00Relieve and let go<p><i> I said breakdowns come<br />
And breakdowns go,<br />
So what are you going to do about it,<br />
That's what I'd like to know.<br />
</i>— Paul Simon, <i>Gumboots</i></p>The selection of <span style="color: rgb(154,80,5);"><b>blogs</b></span> in the sidebar, which is the (slimmer) column on the left, is a list wisely constituted by our friend ml (who's casually reading more on the Web than Google's bot) at the start of this blogging enterprise. Blogs hosted by The Economist and the Financial Times (NB anything with a British accent is worth reading), The Wall Street Journal, and The Globe and Mail. Or <a href="http://moneyistheway.blogspot.com/" target="_blank">Angst is the way</a>, one of our favourites. And others. You are assured of that kind of quality writing (on a wide range of subjects) that you won't find in the (thicker) column on the right. (This is one instance where <i>the left</i> is emphatically better.)<br />
<br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgjR701MbaJLf_UpSlunZIfud2gj4dwNE-AcJgXE6BRk0zOcWt9efOWNPgDz3qNuasZPngrcSuXu8iEAh449edo-jQsu7vRz4SkkdUvxs-X2r_A_DGW5hv8imfqaIRMYbhjbdLbn80lFEMP/s1600/FinancialTacticsBlogs.jpg" title="snapshot of the blogs of our blog + riant sheep" target="_blank" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgjR701MbaJLf_UpSlunZIfud2gj4dwNE-AcJgXE6BRk0zOcWt9efOWNPgDz3qNuasZPngrcSuXu8iEAh449edo-jQsu7vRz4SkkdUvxs-X2r_A_DGW5hv8imfqaIRMYbhjbdLbn80lFEMP/s320/FinancialTacticsBlogs.jpg" /></a></div>Blogs come and blogs go (this one is, miraculously, still sort of hanging on), and we must replace the fallen. For instance, our recent addition of <a href="http://blogs.wsj.com/new-europe/" target="_blank">New Europe</a>, "dispatches from Dow Jones writers across Eastern and Central Europe".<br />
<br />
Another one, <a href="http://blogs.wsj.com/laidoff/" target="_blank">Laid Off and Looking</a>, has been suddenly laid to rest last month, to the dismay of its readers. Outraged <i>What's the Deal?</i> poses the (implicit) question, then promptly provides the (explicit) answer in his or her comment:<br />
<br />
<i>"Here's the deal. Back when the recession started throwing workers into Dante's Inferno, being laid off and looking was very fashionable and, dare I say, chic. We were captivated by these exotic creatures (laid off white-collar workers). As the recession and economic fallout continued well over a year, there were just so many people that were laid off and looking. Somehow, the novelty wore off and, like all fads, the public and this newspaper lost interest. Still, if we exhume the casket, we find that people were buried alive. The problem has not been solved. People are still out of work."</i><br />
<br />
(We'd like to remind readers that the nine circles of the <a href="http://en.wikipedia.org/wiki/Inferno_%28Dante%29" target="_blank">Inferno</a> include Limbo, Wrath and Sullenness, and Betrayal.)<br />
<br />
The thing is, out of the 29 bloggers, twenty "have found full-time jobs, while several others are working on long-term consulting assignments." "Overall, it took these professionals a year on average to get back to working. These contributors, along with numerous career experts and guest writers, helped to create a dynamic discussion on the challenges of job hunting after a layoff in a down economy. They explored issues ranging from ways to network effectively and deal with unresponsive recruiters to how to stay upbeat after a long-search and what it feels like to finally get re-hired. [One] topic that sparked intense discussion was how age discrimination impacts the search."<br />
<br />
The terminated blog (December 2008 - March 2010) is still out there in the internetic aether, in case you missed any dynamic posts. Or intense comments.<br />
<br />
As replacement we chose, for now, a WSJ blog started shortly after the demise of the above. <a href="http://blogs.wsj.com/hire-education/" target="_blank">Hire Education</a> is on a rather similar topic — the transition from the sweet life of university to the real, i.e., working, world. "We seek advice from recruiting and career-services professionals. And we go around the Web and around the world to bring you stories about getting a foot in the door."<br />
<br />
We notice that there are no science or engineering students among the six bloggers. This might be either because these have a conspicuously easier time landing good jobs, or because they <strike>cannot</strike> are less inclined to write.<br />
<br />
In all likelihood they're busy studying.<br />
<!--When coming by, have a look at the latest posts of the blogs we list. With excellent writing, the actual topic of a particular piece is of secondary importance. Enjoy!--><p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com0tag:blogger.com,1999:blog-2116033993225197971.post-50115678547295953412010-04-15T11:00:00.021-04:002010-04-25T14:26:42.312-04:00L'argent de poche<p>The last few days were somewhat hectic as we kept busy letting down the many visitors who presumably want to learn how to get rich and live happily (or who, on occasion, and content with just the happily part, searched for <i>pot</i> and were pointed to our experiments with <a href="http://financialtactics.blogspot.com/2010/01/in-praise-of-value.html" target="_blank">Potash Corp. of Saskatchewan</a>, POT.TO), dropping by from such faraway places with such beautiful names, many of which challenged our notions of geography: Pompton Lakes, Beaconsfield, Belleville, Beamsville, Saint-Eustache, Anchorage, Dhahran, Silla, Whitehorse, Red Deer, Port Alberni, Vernon, Quesnel, Belmopan, Glace Bay, Iqaluit, Garden River, Maple, La Malbaie, Courtenay, Sherwood Park, Torrance, Mountain View, White Rock, Moncton, Littleton, Albuquerque, Sturgeon Falls...</p>Now that things have finally returned to their subdued normalcy, we relaxed by indulging in a bit of art. In a good mood, and in an act of generosity, we're sharing here a rather unassuming <i>objet</i> from our own impermanent collection.<br />
<br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEigPT0zD_JxzuGki3AQ0dOIb0I28F5mjigHxfB5JqFwsYJ7gnJH34qXW6HRj-aJ107-wVyu9yZ0RQO5lrImFJrzukqPkgiNBPbuuQphVIhnWwLJnEGB9QsKZfJ6M6YEQnzlzdVhb1Fe6PjN/s1600/LifeSavings-Detail.jpg" target="_blank" title="Only the poet can look beyond the detail and see the whole picture. - Helen Hayes" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEigPT0zD_JxzuGki3AQ0dOIb0I28F5mjigHxfB5JqFwsYJ7gnJH34qXW6HRj-aJ107-wVyu9yZ0RQO5lrImFJrzukqPkgiNBPbuuQphVIhnWwLJnEGB9QsKZfJ6M6YEQnzlzdVhb1Fe6PjN/s320/LifeSavings-Detail.jpg" /></a></div><br />
<div style="text-align: center;"><i>Life Savings,</i> c. 15 April 2010. Detail. (From the<br />
private collection in Notre Portefeuille, Toronto.)</div><br />
<i>Ars brevis, vita longa.</i><p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com1tag:blogger.com,1999:blog-2116033993225197971.post-18735984007535132642010-04-09T20:26:00.016-04:002010-04-25T14:30:06.030-04:00The wrong blog<p>Hi there, errant pilgrim of the Web!</p>You, <i>too</i>, from The G&M??<br />
<br />
Must be a mistake somewhere. Not sure why you got directed here. You're in the wrong place. (And let's make it perfectly clear, we have no idea who <i>that guy</i> is.)<br />
<br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjUPQtquEFufN_ZZAUrJeGXICGxOgFYcaUe9ATscQVfIjnYx1dd0qGnEuAtoug_iLdiQXkdNmlVMmmJaXGYBiERkqQkZeH5zF3JXtqk1fqswIVASht5rrEVPedxIEmtKDmnzH3tVWO89RDl/s1600/BMO-Toronto-FirstCanadianPlace.jpg" title="First Canadian Place, BMO Toronto headquarters" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjUPQtquEFufN_ZZAUrJeGXICGxOgFYcaUe9ATscQVfIjnYx1dd0qGnEuAtoug_iLdiQXkdNmlVMmmJaXGYBiERkqQkZeH5zF3JXtqk1fqswIVASht5rrEVPedxIEmtKDmnzH3tVWO89RDl/s320/BMO-Toronto-FirstCanadianPlace.jpg" width="105" /></a></div>As a reader of <a href="http://www.theglobeandmail.com/report-on-business/" target="_blank">The G&M</a> you must have high standards. You won't find any here.<br />
<br />
We know money doesn't grow on trees. (It grows in tall buildings — see at right.) Beyond that, it's anybody's guess. When we display a graph it's only because we have a thing for squiggly lines. From what we've observed so far, the markets are a thoroughly mad affair. Which only someone <a href="http://ca.finance.yahoo.com/personal-finance/article/yfinance/1501/the-biggest-market-myth-there-is" target="_blank">just as mad</a> can make sense of:<br />
<blockquote><i>Sometimes stocks or the whole market will go up or down for reasons that have nothing to do with the underlying prospects of actual companies. Sure, you’ll search for a legitimate answer — Was it the rising dollar? Maybe it was the spate of bad earnings reports? — and the media will offer a few as well. But there will come a point where you’ll have to admit, Cramer said, that the moves are "just nuts".</i></blockquote>Though we did <a href="http://financialtactics.blogspot.com/2009/04/us-gdp-and-consumer-spending-in-first.html" target="_blank">suggest</a>, rather early in the current mess, that the eliminated workforce are busy spending their severances, so a recovery in the economy will evidently come from the very casualties of its slump. (A sizeable part of the aforementioned <a href="http://financialtactics.blogspot.com/2009/10/badadadada-dada-thanksgiving.html" target="_blank">hadworkforce</a> are passionately dedicated to trading on their own, and must be recognized for the adequate measure of volatility in the Canadian markets. A strong recovery and the consequent drop in jobless numbers are bound to have a negative impact.)<br />
<br />
Financial blogs offer practical advice. Everybody offers advice. We don't. Just as an example, we were all giddy over this week's <a href="http://financialtactics.blogspot.com/2010/04/parity-disparity.html" target="_blank">parity hit-and-run</a>. But naively, just for parity's sake. <a href="http://www.canajunfinances.com/2010/04/07/strong-loonies" target="_blank">Big Cajun Man</a> kept his cool and listed promptly a few things you should rush and do while the loons are flying (courteously, and all the while mumbling <i>Thank you!</i>).<br />
<br />
We have a <a href="http://financialtactics.blogspot.com/2009/09/under-covers-economist.html" target="_blank">low post count</a>. (We'd much rather spend our precious time at <a href="http://york.thedukepubs.ca/yourlocal.php" target="_blank">The Duke of York</a>, on the patio. Followed by <a href="http://www.starbucks.com/store/1025" target="_blank">Starbucks</a>, or <a href="http://www.blogto.com/cafes/aroma" target="_blank">Aroma</a> across the street, depending on the position of the sun. On the patio.) Plus, this blog doesn't even use real words sometimes. (Either that or it's replete with mispellings.) <a href="http://financialtactics.blogspot.com/2009/06/money-poetry-on-way.html" target="_blank">Bloglogog?</a> <a href="http://financialtactics.blogspot.com/2009/06/finarcical-tactrics.html" target="_blank">Finarcical, shmanancial?</a> <a href="http://financialtactics.blogspot.com/2009/06/another-mans-treasure.html" target="_blank">Debrial / debriferous?</a> <a href="http://financialtactics.blogspot.com/2010/01/in-praise-of-value.html" target="_blank">Potashkewan?</a> <a href="http://financialtactics.blogspot.com/2010/04/wrong-blog.html" target="_blank">Hadworkforce??</a><br />
<br />
The only thing we can recommend with a straight face is the sidebar (on your left). In part it points to others', very skilled, work: blogs, Web sites, books, quotes, the news; in part it is generated automatically by a computer: the archive and index.<br />
<br />
Sorry. Good-bye. And, <i>thank you!</i><br />
<div class="separator" style="clear: both; text-align: center;"><a href="http://www.moma.org/collection/browse_results.php?criteria=O%3AAD%3AE%3A6246&page_number=1&template_id=6&sort_order=1&background=black" title="By conservative estimates, we're losing one species every 15 minutes. - Richard Kissel" imageanchor="1" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" height="98" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi34Aci1a9t_nE_4tlDkHhkJ3k4Q8gxsjAYhyphenhypheneNDfD9Vp3FaAjllRZfVwvr4jhieOHeuQ2AznTBe0CRNWRDc0uSlNCfh141U0wkOgwLMdBgpcvqxtyTeMHnFzo333gz3Y7I1vNW6_sWugY8/s200/BackIn15Minutes.jpg" width="100" /></a></div><span style="font-size: 78%;"><b>Photo:</b> First Canadian Place, BMO Toronto headquarters.<br />
Source: Wikipedia Commons.</span><p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com0tag:blogger.com,1999:blog-2116033993225197971.post-9167205052841532322010-04-08T19:58:00.009-04:002010-04-25T14:37:35.881-04:00Irrational protuberance<p><div class="separator" style="clear: both; text-align: center;"><a href="http://en.wikipedia.org/wiki/Extraordinary_Popular_Delusions_and_the_Madness_of_Crowds" title="I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said. - Alan Greenspan" imageanchor="1" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" height="255" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_xlIKDhpunQem1J-6y6HxGcLIpxws_5qM0G2SxIyMWuHec5MuF7tbdmClJnt5RXm-9lLvqk2YfUUquFQGcihuOPazGdiVkiXmKPLZFQTMfPGbNGWBONaedpetB44LNouKHFhw53F62Ci1/s400/IrrationalProtuberance.jpg" width="400" /></a></div></p><span style="font-size: 78%;">Citigroup Inc. (C), April 8, 2010.<br />
<b>Chart:</b> <a href="http://www.nasdaq.com/aspx/nasdaqlastsale.aspx?symbol=C&selected=C" target="_blank">NASDAQ.com</a></span><br />
<p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com0tag:blogger.com,1999:blog-2116033993225197971.post-74179990398703715942010-04-06T13:59:00.016-04:002010-04-07T08:59:12.068-04:00Parity; disparity<p>It's happening. Again. Here's the <b><i>fas ci nat ing</i></b>, developing story from <a href="http://finance.yahoo.com/q/bc?s=CADUSD=X&t=1d&l=on&z=m&q=l&c=" target="_blank">Yahoo! Finance</a>:</p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg_gqqOlcx7uLk898WG8Cqm2du9DaTrAy-NiK5bwf0-LmlksEh_53gwawq2xCeb6jPVqKZds9c9uLjLiHbrPXk9dhqr9ehytwsf9900Tsd9Ozye4K1_5NAJdpubUKMtVcRFTrXqa4ZVHGxY/s1600/ParityInYahoo!Finance-06-April-2010.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" height="532" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg_gqqOlcx7uLk898WG8Cqm2du9DaTrAy-NiK5bwf0-LmlksEh_53gwawq2xCeb6jPVqKZds9c9uLjLiHbrPXk9dhqr9ehytwsf9900Tsd9Ozye4K1_5NAJdpubUKMtVcRFTrXqa4ZVHGxY/s640/ParityInYahoo!Finance-06-April-2010.jpg" width="609" /></a></div><br />
We are giddy with excitement. However. In a characteristically modest Canadian fashion, our own <a href="http://www.theglobeandmail.com/globe-investor/markets/indexes/summary/?q=USD/CAD-I" target="_blank">Globe Investor</a> is bringing us the same story in real time, but thus:<br />
<br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjr8vSVxK19LzKdPVc9GEisZ5OfMkbf-EPGMmxjZoAKQECMN-d__7ktaTO6Gz9obwAvGNshiMw_babQWdasec2lHSxNuOH3Kw4zeZqq1usTc0wn3jc4X6OfKThICjOZ_pu6gqlFRI1qH1IC/s1600/ParityInTheGlobe-06-April-2010.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" height="478" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjr8vSVxK19LzKdPVc9GEisZ5OfMkbf-EPGMmxjZoAKQECMN-d__7ktaTO6Gz9obwAvGNshiMw_babQWdasec2lHSxNuOH3Kw4zeZqq1usTc0wn3jc4X6OfKThICjOZ_pu6gqlFRI1qH1IC/s640/ParityInTheGlobe-06-April-2010.jpg" width="627" /></a></div><br />
Which, let's face it, takes all the fun out of today. Open: 1.00. High: 1.00. Low: 1.00. Yeah, sure. All quiet on the northern front.<br />
<br />
This approximations might have been, <i>maybe</i>, appropriate for the exchange rate of beaver pelts, which - as the <a href="http://www.bankofcanada.ca/en/index.html" target="_blank">Bank of Canada</a>'s <a href="http://www.bankofcanada.ca/en/dollar_book/" target="_blank"><i>A History of the Canadian Dollar</i></a>, by James Powell, informs us - were the currency in the early 1600s:<br />
<blockquote><i>In 1608, Samuel de Champlain founded the first colonial settlement at Quebec on the St. Lawrence River. The one universally accepted medium of exchange in the infant colony naturally became the beaver pelt, although wheat and moose skins were also employed as legal tender.</i></blockquote><i>Maybe</i>. But not for a day like today. Bummer.<p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com0tag:blogger.com,1999:blog-2116033993225197971.post-19245148738986051042010-04-01T13:04:00.003-04:002010-04-25T14:49:20.600-04:00QED<p><div class="separator" style="clear: both; text-align: center;"><a href="http://www.google.ca/#hl=en&source=hp&q=site%3Afinancialtactics.blogspot.com&meta=&aq=f&aqi=&aql=&oq=&gs_rfai=&fp=7bdd19b300c6b795" title="The patient search and vigil long / Of him who treasures up a wrong. - Lord Byron" target="_blank" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="619" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEibMTEiSu8taM6nQmK8j0jCB8dBHvrKzw98msrGIYLkeOFISt-ZB4og9-0SW8Yz1dEiW49_XND8QUBw8fumgcnWdZ3GNv7HL_VIvje3u6o2uE1fig6AFXcG5-HodLO7qJZsaO2200q12Abr/s640/ftGoogleSearch.jpg" width="640" /></a></div></p><p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com0tag:blogger.com,1999:blog-2116033993225197971.post-27460535996595040342010-03-29T14:19:00.035-04:002010-04-02T02:13:53.619-04:00Phinancials and PhDs<p>Before the economy rebounds overwhelmingly and we forget, once again, all about crises, here's a reminder. <i>(a)</i> Crises come in two flavours: <i>1.</i> the garden-variety, or cyclical mild meltdown, and <i>2.</i> the <a href="http://www.bloomberg.com/apps/news?pid=20601039&sid=aQDn.ZYPabIg" target="_blank">once-in-a-<i>very_lengthy_stretch_of_time</i></a><!--"http://www.huffingtonpost.com/2010/03/26/alan-greenspan-the-financ_n_514713.html"--> type of calamity; <i>(b)</i> It's worth remembering that, while one pays a couple of limbs or so (in whatever currency is applicable) for education, education too pays:<div class="separator" style="clear: both; text-align: center;"><a href="http://www.phdcomics.com/comics/archive.php?comicid=1077" target="_blank" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://www.phdcomics.com/comics/archive/phd092908s.gif" /></a></div></p><br />
Another useful piece of advice related to the above and from the same <a href="http://www.phdcomics.com/comics/archive_list.php" target="_blank">Piled Higher and Deeper</a> site: it is <a href="http://www.phdcomics.com/comics/archive.php?comicid=1078" target="_blank">never too late</a> to get learnin'. Your portfolio already took a dive during the recent crisis, now <a href="http://www.nytimes.com/2009/08/02/magazine/02FOB-onlanguage-t.html" target="_blank">a mind would be another terrible thing to waste</a>...<br />
<br />
As to the observation below, never mind.<!--One shouldn't take it seriously — it is, in all likelihood, just a put-on.--> Though it should be noted that the mortal on the left is more adequately equipped, both money-wise and time-wise, to get wasted, more often:<br />
<br />
<div class="separator" style="clear: both; text-align: center;"><a href="http://www.phdcomics.com/comics/archive.php?comicid=1215" target="_blank" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="276" src="http://www.phdcomics.com/comics/archive/phd082109s.gif" width="640" /></a></div><br />
Also, <a href="http://www.phdcomics.com/comics/archive.php?comicid=1296" target="_blank">here's one</a> for the careful consideration of the eventually-set-to-learn-and/or-get-married pricey offspring.<br />
<br />
Finally, if this applies to you (it did to Norbert), a post in <a href="http://www.canadiancapitalist.com/save-on-canadian-dollar-to-us-dollar-conversions-and-vice-versa/" target="_blank">Canadian Capitalist</a> mentions a cheaper way to convert currency, by buying stock in one currency account and selling it in another. <br />
<br />
<span style="font-size: 78%;"><b>Thanks</b> to ds for the pointer!</span><p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com0tag:blogger.com,1999:blog-2116033993225197971.post-76194453388807822472010-03-21T23:59:00.023-04:002010-04-10T02:57:15.909-04:00The thrill is back<p>The season situated straight ahead of summer, the one reckoned astronomically to extend from the March equinox to the June solstice, is in that mixture of invisible odorless tasteless gases - nitrogen, oxygen, argon, carbon dioxide - that surrounds the earth. Temperatures are high, the <a href="http://financialtactics.blogspot.com/2009/05/vix-and-stocks-run-on-opposite.html" target="_blank">VIX</a> is low, and the tax refund is on its way.</p>Winter left, and just as well. Just before its departure we were reminded that fiddling with the numbers will get you nowhere in the long run. Greece (as you may <a href="http://financialtactics.blogspot.com/2009/04/us-gdp-and-consumer-spending-in-first.html" target="_blank">remember</a>, its GDP has been known to include a manifestly productive <a href="http://www.buzzle.com/articles/110557.html" target="_blank">prostitution</a> and other underground activities) is now bankrupt, and Lehman Brothers (their accounting may have also been <a href="http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aBOtXMQ8zosQ" target="_blank">kinda creative</a>) is no longer on the map. Therefore we duly reported on our <a href="http://financialtactics.blogspot.com/2009/10/sure-things-in-life-guides.html" target="_blank">income tax return</a> (specifically, Schedule 4 T1-2009, section II - Interest and other investment income) all of the $0.17 in interest earned in our account at Canada's largest bank. (How does a bank get to be the largest??)<br />
<br />
Also we read, in Canadian Capitalist, about the <a href="http://www.canadiancapitalist.com/mortgage-free-ask-for-a-discount-on-your-home-insurance/" target="_blank">mortgage-free home insurance discount</a>, which we have utilized ourselves. Readers offered a few opinions as to why ("insurance companies have found that mortgage-free homeowners make lower claims", "they also checked out my credit score - it seems that insurance companies are willing to take into account just about anything that is correlated with claim risk", etc.). If <b>we</b> were to venture a guess, it would be that if something goes terribly wrong it's easier for the insurance company to kick around an already knocked down homeowner rather than a big bank. (How does an insurance company get to be large??)<br />
<br />
Spring is now here. A friend found a job, one didn't lose his, another is still looking. We had an uncomfortable urge to clean the basement this week, which we resisted. But we added a <span style="color: rgb(154,80,5);"><b>top picks</b></span> summary <i>and</i> a pic from paradise in the sidebar. Meanwhile, our friend ml feels rich. He sent us a few links (<a href="http://www.christiesgreatestates.com/properties/video/mason.htm" target="_blank">Rio Abajo Rio</a>, <a href="http://www.christiesgreatestates.com/properties/video/palazzo.htm" target="_blank">Palazzo delle Luce</a>) and, as the general idea, <a href="http://www.christiesgreatestates.com/properties/greatest_estates.htm" target="_blank">Christie’s Great Estates</a>. We suspect he must have already received his refund.<br />
<br />
A healthy vernal<!--springtime--> breeze is blowing from the south. <i>It's coming from the silence on the dock of the bay.</i> We feel ineffably musical:<br />
<p style="text-align:center"><object width="340" height="285"><param name="movie" value="http://www.youtube-nocookie.com/v/vHI9BTpGkp8&hl=en_US&fs=1&color1=0xe1600f&color2=0xfebd01&border=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube-nocookie.com/v/vHI9BTpGkp8&hl=en_US&fs=1&color1=0xe1600f&color2=0xfebd01&border=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="340" height="285"></embed></object></p><i>The heart has got to open in a fundamental way.</i> Gaudeamus! Spring is in the air.<p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com0tag:blogger.com,1999:blog-2116033993225197971.post-56482005047595543602010-01-26T18:16:00.021-05:002010-04-25T23:17:53.097-04:00Mr Sandman joined Local 113<blockquote><i>All men whilst they are awake are in one common world;<br />
but each of them, when he is asleep, is in a world of his own.</i><br />
— Plutarch</blockquote>Our own serene, almost sleepy, <acronym title="Toronto Transit Commission">TTC</acronym> has been all over the Web lately. Here's from Friday's <a href="http://www.thestar.com/news/gta/ttc/article/754753--ttc-catnaps-ignite-rider-fury-amid-higher-transit-fares" target="_blank">Toronto Star</a>:<blockquote><b>TTC catnaps ignite rider fury amid higher transit fares</b><br />
<br />
With the click of a camera and a tweet on the Internet, one sleeping TTC worker has unleashed a torrent of fresh anger over Toronto’s troubled transit system. What began as a funny photograph posted on Twitter quickly turned into a lightning rod for transit riders frustrated with the TTC.<br />
<br />
[T]his isn't the first time a TTC employee has been caught dozing while on the clock. Since Wieler's photo began making the rounds, more pictures of sleepy TTC workers have come out of the woodwork.<br />
<br />
[T]he majority of online commenters were bitter, sneering that just weeks after a controversial fare hike, unionized employees with good benefits couldn't bother to stay awake and make change for equally hard-working customers.</blockquote><div class="separator" style="clear: both; text-align: center;"><a href="http://upload.wikimedia.org/wikipedia/commons/a/af/Adriaen_Brouwer_-_A_Boor_Asleep.jpg" title="Blessing on him who invented sleep — the mantle that covers all human thoughts, the food that appeases hunger, the drink that quenches thirst, the fire that warms cold, the cold that moderates heat, and, lastly, the general coin that purchases all things, the balance and weight that equals the shepherd with the king, and the simple with the wise. - Miguel de Cervantes Saavedra" imageanchor="1" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" height="640" src="http://upload.wikimedia.org/wikipedia/commons/a/af/Adriaen_Brouwer_-_A_Boor_Asleep.jpg" width="478" /></a><br />
</div><br />
Then a bit of the ridiculous slipped in. Here's the indignity, from Sunday's <a href="http://www.thestar.com/news/gta/ttc/article/755052--wake-up-to-real-issues-ttc-sleeper-tells-public" target="_blank">Toronto Star</a>:<blockquote><b>Wake up to real issues, TTC sleeper tells public</b><br />
<br />
The snoozing TTC fare collector who has become the poster boy for a struggling transit system and the Internet's latest viral sensation says people need to "wake up" to the fact that there are more important things going on in the world right now than his sleeping habits.<br />
<br />
"When you knock Haiti off the front page you know something's wrong," said George Robitaille, a veteran TTC employee, referring to the Toronto Sun's Friday cover photo showing him dozing on the public dime with his mouth open, head back and arms folded over his belly. "You know, I think our priorities are a little mixed up here."</blockquote>The story has been essentially put to bed by now (or so you'd think). There is no much glory in a collector's job (cf <i>The King of Queens</i>), and probably not much money, so a little nap now and then is not that big of a deal (the Japanese actually encourage this sort of things). But the <a href="http://financialtactics.blogspot.com/2009/06/another-mans-treasure.html#guyNextDoor" target="_blank">guy next door</a>, who likes to be informed, turned immediately to Ontario Ministry of Finance's <a href="http://www.fin.gov.on.ca/en/publications/salarydisclosure/2009/munic09.html" target="_blank">Public Sector Salary Disclosure for 2008: Municipalities and Services</a>. <br />
<br />
Through the years, guy next door learned to accept the Toronto subway system, eminently backward when compared to public transit in large cities elsewhere, got used to the fare hikes, to the washroom-coloured wall tiles on his line, learned to stand where there is nothing ugly and menacing hanging from the ceiling while waiting for a train, and got familiar with the mice between the tracks of the Yonge & Bloor and Eglinton stations. He also became reasonably resigned to Toronto's nightmarish budget problems, service cuts, and increases to his property taxes. <i>But, Haiti!</i>...<br />
<br />
He wasn't particularly happy with the salary report. TTC employees making above 100K, a world of their own, seem to be the largest group (548) among the various municipalities and service sectors. Twenty-one of them are — Station Collectors. It's not mentioned how many sleep on the job. One must hold a PhD in Tokens, as is making above 125K. There are also four Tower Controllers. Last we checked, the TTC had no planes: it'd be difficult to replace those with crowded shuttle buses when they fail.<br />
<br />
<i>But Haiti!</i>...<br />
<br />
Mothers all across the GTA admonish their sons, <i><b>Why can't you be a TTC collector, like your cousin Ira?!</b></i><br />
<br />
<i>But, mom. Haiti...</i><br />
<br />
The guy next door told us next about his mood, eternal flames and all. Dies irae. Day of a bit of wrath:<br />
<p style="text-align:center"><object width="340" height="285"><param name="movie" value="http://www.youtube-nocookie.com/v/ZDFFHaz9GsY&hl=en_US&fs=1&rel=0&color1=0xe1600f&color2=0xfebd01&border=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube-nocookie.com/v/ZDFFHaz9GsY&hl=en_US&fs=1&rel=0&color1=0xe1600f&color2=0xfebd01&border=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="340" height="285"></embed></object></p>Now <b><i>I</i></b> can't go to sleep.<br />
<br />
<span style="font-size: 78%;">Thanks to ds for the pointers!<br />
<b>Painting:</b> <i>A Boor Asleep</i>, Adriaen Brouwer, mid 1630s. Source: Wikimedia Commons.</span><p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com0tag:blogger.com,1999:blog-2116033993225197971.post-53987795201190158642010-01-22T23:59:00.031-05:002010-04-25T23:39:08.494-04:00In praise of value<p>I'm a value investor. As of this week, that is.</p>I own, for instance, <a href="http://ca.finance.yahoo.com/q/bc?s=POT.TO&t=3m&l=off&z=m&q=l&c=" target="_blank">Potash Corp. of Saskatchewan</a> (POT.TO), the world's largest producer of this crop nutrient. A <i>Canadian</i> value to boot. I've traded this stock <a href="http://financialtactics.blogspot.com/2009/05/inflation-rate-in-canada-hits-14-year.html" target="_blank">several times in the past year</a> and made some quick and easy money each time. But I have not yet held it like this, as a v a l u e i n v e s t o r. (My good old friend gb used to promptly redefine those stocks which, once he bought them, were just as promptly taking a dive (as it happens, a frequent occurrence), as long-term, value investments.)<br />
<br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEilWBw1r4Yhbn2ct9OqqDYELqv7DcO4RRHWWwkNnbFPhFjczHU-ffiDIdaWFDWWUJ1abkjINeWa7qxWCt-Mtf-rOOMrfQt8OA8N1Owp0yHJ3CbmFIDWSvSKsnbFn8il1xBxFH1W8qroZsYG/s1600-h/POT-NovJan2010.gif" title="To keep a Sink Drain free from grease, pour down once a week at night one-half can Babbitt’s potash dissolved in one quart water. - Fannie Merritt Farmer, The Boston Cooking-School Cook Book" target="_blank" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="476" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEilWBw1r4Yhbn2ct9OqqDYELqv7DcO4RRHWWwkNnbFPhFjczHU-ffiDIdaWFDWWUJ1abkjINeWa7qxWCt-Mtf-rOOMrfQt8OA8N1Owp0yHJ3CbmFIDWSvSKsnbFn8il1xBxFH1W8qroZsYG/s640/POT-NovJan2010.gif" width="640" /></a><br />
</div><br />
Potash prices have been going down, along with the potash miners on their way to work, for a long time now. <a href="http://en.wikipedia.org/wiki/Potash" target="_blank">Potash</a> is the common name for various compounds containing potassium, which are used mainly as fertilizers. An eventual rebound is to be expected, as economies improve and soil fertilization, unlike the Canadian Parliament, can no longer be prorogued.<br />
<br />
And if I'm really lucky, the rumoured potential acquisition by BHP Billiton will materialize, and provide a great opportunity to sell. Now <i>that</i> would be good value. (Like striking gold. Or potash.) (<a href="http://ca.finance.yahoo.com/q/bc?s=AGU.TO&t=3m&l=off&z=m&q=l&c=" target="_blank">Agrium Inc.</a> is still <a href="http://www.reuters.com/article/idUSTRE60I42R20100119" target="_blank">trying to buy</a> reluctant CF Industries, which in its turn finally gave up — for now?! — trying to buy Terra Industries. All this fertilizer business smells a bit. Is anyone still doing any actual drilling out there?) <i>Sir, would you like some potash with that?</i> But I digress.<br />
<br />
What really did it, what really whisked me over to the value camp, was the acquisition this week of the <a href="http://www.investopedia.com/terms/b/berkshire-hathaway.asp" target="_blank">Mother of all value shares</a>. No, not <a href="http://ca.finance.yahoo.com/q/bc?s=BRK-A&t=1y" target="_blank">this one</a> (BRK.A), <a href="http://ca.finance.yahoo.com/q/bc?s=BRK-B&t=1y" target="_blank"><i>this</i></a> one (BRK.B, the class B common stock):<br />
<br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEicAJmaIM4obI49ac2JPwbiYXAadV6kW_VDkw3yNhqZtiyMfY9x9DEQi18i-BoITsjgWblEMoSurBDdXeyiixGmjr4BgOpUCgNL5AbI_Dx3F4K6cWa7PLpErjlLWWbTeXhu0ZebYbnNenBC/s1600-h/BRK.B-MarJan2010.gif" title="Omaha, the roughneck, feeds armies, / Eats and swears from a dirty face. / Omaha works to get the world a breakfast. - Carl Sandburg" target="_blank" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="478" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEicAJmaIM4obI49ac2JPwbiYXAadV6kW_VDkw3yNhqZtiyMfY9x9DEQi18i-BoITsjgWblEMoSurBDdXeyiixGmjr4BgOpUCgNL5AbI_Dx3F4K6cWa7PLpErjlLWWbTeXhu0ZebYbnNenBC/s640/BRK.B-MarJan2010.gif" width="640" /></a><br />
</div><br />
Which is close enough. And courtesy of a 50:1 Mother of all stock splits. As you know, <a href="http://www.investopedia.com/articles/01/071801.asp" target="_blank">Warren</a> (I feel I can call him that now) is, still, the Mother of all value investors (or, perhaps, the Father of). When he buys one railroad company, all of them go up, as if everybody will all of a sudden rush to buy trains. So I'm very optimistic.<br />
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My experience with the maternal superlatives is mixed. I once had a dream of working for the Mother of all companies in my field. Once I was hired, I wanted to leave within the first few months. Things were far from what I expected. Then 'inertia' took over, and I hanged on in there (for too long). I had, along the way, the best of times and the worst of times. I hope for better results overall with Berkshire.<br />
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And with Potashkewan too.<br />
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<i>Oh the dickens, what a week!</i><br />
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<span style="font-size: 78%;"><b>Charts:</b> <a href="http://www.globeinvestor.com/" target="_blank">Globe Investor</a></span><p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com1tag:blogger.com,1999:blog-2116033993225197971.post-85597862961842234512009-12-20T21:54:00.016-05:002010-04-26T00:13:53.226-04:00Rhapsody in fluffy white<p><b>Not much</b> seems to have been achieved in <a href="http://www.reuters.com/article/idUSGEE5BB07F20091220" target="_blank">Copenhagen</a> on the issue of climate change, but things appear to be working alright for now meteorologically. Here's Boston earlier today. Handsome and elegant in any weather, it's looking good in the coat of soft snow.</p><br />
<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwzw__ht2tL6IdsyTgDw2ZVLI_8JbgecPrOQGUe0jP_NlVMtfJOxTRGjaK1dZwK__CdcnKDbqqKgsNpN9ILH_jlhA7LJa5uhOjpDiWstJGlGU4GbXLMryGFlNYDzaWnjr1sC844AzTu6hV/s1600-h/Boston-20-Dec-2009.JPG" title="Boston hostesses of position have never failed to demand of those who would remain on their lists, strict obedience to the tenets of ceremonies and dignified behavior; nor ceased themselves to cultivate something of the 'grand manner' that should be the birthright of every thoroughbred lady and gentleman. - Emily Post, Etiquette, 1922" target="_blank"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 400px; height: 300px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwzw__ht2tL6IdsyTgDw2ZVLI_8JbgecPrOQGUe0jP_NlVMtfJOxTRGjaK1dZwK__CdcnKDbqqKgsNpN9ILH_jlhA7LJa5uhOjpDiWstJGlGU4GbXLMryGFlNYDzaWnjr1sC844AzTu6hV/s400/Boston-20-Dec-2009.JPG" alt="Snowy Boston" id="BLOGGER_PHOTO_ID_5417512953971185698" border="0" /></a>Meanwhile, in Toronto it was just cold.<br />
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<b>Twenty years ago,</b> Eastern Europe was welcoming a long-awaited spring. The Cold War was ending. How's that for a promising <i>global warming</i>!...<br />
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<div style="text-align: center;"><span style="font-weight: bold; font-style: italic; color: rgb(0, 153, 0);font-size:130%;" >Season's greetings!</span><br />
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<span style="font-size:78%;"><b>Photo</b> by il.</span><p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com1tag:blogger.com,1999:blog-2116033993225197971.post-12713984500593148062009-12-14T20:02:00.022-05:002009-12-15T20:17:40.468-05:00Frugality forgone<p><b>Frugality <!--finale-ty-->finality.</b> It's so typical. The moment my proven lifestyle, sized on nolens volens and casually, seemed to have been finally and fashionably embraced by most — disappointment. Simon Houpt and Marina Strauss, in <a href="http://www.theglobeandmail.com/report-on-business/frugality-fatigue-hits-shoppers/article1397842/" target="_blank">Frugality fatigue hits shoppers</a> from this weekend's Globe and Mail, find strong evidence for the end of frugality.</p><blockquote>We admit, we got excited. We envisioned the environmental benefits of spending less and saving more, and we recalled the moral benefits that had long ago prompted our patron saint Adam Smith to speak of frugality as a virtue.<br /><br /><i>We said you had changed your ways forever. You hit the malls in droves. Dare we say we were mistaken?</i><br /><br />In some quarters, money is flowing again like water at Lourdes.</blockquote>The Globe is "Canada's national newspaper", so they must know. Frugality, RIP.<br /><br />That which Margaret Wente called the <i>nouveau chic</i> appears then to be already gone. Was this past year or so just a transitory, desultory bit of profligacy fatigue?<br /><br />One positive outcome of frugality's ephemerality could be the auspicious demise of some of the many frugality-themed postings and entire blogs. The crowds are reading, with such an unfrugal extravagance, all possible and kooky advice out there, proffered with equal abundance. Many also came <a href="http://financialtactics.blogspot.com/2009/07/abundance-of-thrift.html" target="_blank">to this blog</a>, only to leave utterly disappointed. Our quote at the time of that post was "Frugality is misery in disguise." (Publilius Syrus). <br /><br /><b>Frugality ethereality.</b> I had my suspicions all along. As my friend ml said, <i>What recession?</i> The cafés and the restaurants were crowded all summer. The malls full. Renovation bins throughout the neighbourhood. The <a href="http://financialtactics.blogspot.com/2009/10/badadadada-dada-thanksgiving.html" target="_blank">guy next door</a>, while not at all surprised to see the streets so animated during what are otherwise working hours, was amazed by all the consumption going on.<br /><br />The guy next door is unemployed. He knows. <i>What frugality?</i><br /><br /><b>Frugality whimsicality.</b> There <i>are</i> contradictory messages. <a href="http://www.theschooloflife.com/Sermons/Tim-Harford-on-Frugality_2" target="_blank">The announcement</a> for a talk on frugality (only £10.-) by Tim Harford this past Sunday, which ml brought to my attention, says:<br /><blockquote>Tim will preach a timely message about reducing waste, curbing indulgence, and suppressing the need for instant fiscal gratification in favour of simpler and more lasting sources of pleasure. He’ll argue for the rehabilitation of Ebenezer Scrooge, a self-denying hero unfairly maligned by the slanderous ghosts of Christmas.<br /><br />By the end of Tim’s sermon, you will have learned [...] why frugality is not a miserly vice but the most noble of virtues.</blockquote>Tim is an economist, so he must know. Long live frugality.<br /><br />So — which is it? Are the British, as always, different? Are <i>we</i> different?<br /><br />I don't know. Somehow, I feel lonely once again.<p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com2tag:blogger.com,1999:blog-2116033993225197971.post-66226909027550295002009-11-28T19:13:00.014-05:002010-09-16T01:05:04.335-04:00A stroke of luck<p>This time of year here in Toronto the weather is gloom, <!--<a href="http://en.wikipedia.org/wiki/Sonic_boom" target="_blank">boom</a>--><i>boom</i>, and doom. All that talk of <a href="http://financialtactics.blogspot.com/2009/05/green-shoots-hopes-for-canadian-economy.html" target="_blank">green shoots</a> is irrelevant by now. Summer was <i>a blast</i>, but mainly because it was so short.<br />
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Trust the business side of things to provide a ray of sunshine.</p><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiVT49IoV_jxrpkf26MC4YRDv8bS87LwonniwjiLxawaBBfZGiOocP2ZAjS12x0BSzf5nsgR8Lyxmk8DrJ9vO-eR_B5X16kHg-uHUzEwF3NQ_TAIFuiztVJkjW6c8uf2WKh6-qFgimDjAZX/s1600/BurgerAndStrokeWindow.gif" title="The techniques I developed for studying turbulence, like weather, also apply to the stock market. - Benoit Mandelbrot" target="_blank"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 347px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiVT49IoV_jxrpkf26MC4YRDv8bS87LwonniwjiLxawaBBfZGiOocP2ZAjS12x0BSzf5nsgR8Lyxmk8DrJ9vO-eR_B5X16kHg-uHUzEwF3NQ_TAIFuiztVJkjW6c8uf2WKh6-qFgimDjAZX/s400/BurgerAndStrokeWindow.gif" border="0" alt="Weather Network Web screen" id="BLOGGER_PHOTO_ID_5409552877808503714" /></a>This is a snapshot of the <a href="http://www.theweathernetwork.com/weather/CAON0696" target="_blank">Weather Network</a> for Toronto. There are two ads on the right. The top invites you to the new Bacon Deluxe (just look what's in-between those buns), at the bottom there is mention of heart and stroke and odds of 1 in 3. "Best odds ever." You bet!...<br />
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Heck, we never really understood the world of advertising.<p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com2tag:blogger.com,1999:blog-2116033993225197971.post-19876455351539429172009-11-24T00:38:00.016-05:002010-03-25T02:06:04.521-04:00Ceci n'est pas un lawn<p>Ceci <i>was</i> a lawn, as grassy and pristine as they come.</p><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjxjWSYeEF3-mH2ncZZdJArEZ53TX2Ck51IkFFGHLoTIMTiJVAeGiCI1jPwzi02KhcJ9RZa_z5EfzxIg2dCooYjMCRfRwe6-0BBUP_CbkKtrTKOwShjE4IQfhOnI2OyrK-25zl_a3zp6QVj/s1600/Geothermal2009-1.jpg" target="_blank"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 300px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjxjWSYeEF3-mH2ncZZdJArEZ53TX2Ck51IkFFGHLoTIMTiJVAeGiCI1jPwzi02KhcJ9RZa_z5EfzxIg2dCooYjMCRfRwe6-0BBUP_CbkKtrTKOwShjE4IQfhOnI2OyrK-25zl_a3zp6QVj/s400/Geothermal2009-1.jpg" border="0" alt="geothermal pump installation" id="BLOGGER_PHOTO_ID_5407163457511525554" /></a><br />
<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhy4NXo2Q2f27y-3IJrebn3w2RxtL6fqAbrnAFdDvazqKpdVR0hjEuo_aKe4E2NXAnSytzaSYYLaPLOYtpEiGoHurxMJ82Zav39Rc8LbG39ThRRYA_fF74l4MkMlUJ3eMgc4dzFFzPqYm2J/s1600/Geothermal2009-2.jpg" target="_blank"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 300px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhy4NXo2Q2f27y-3IJrebn3w2RxtL6fqAbrnAFdDvazqKpdVR0hjEuo_aKe4E2NXAnSytzaSYYLaPLOYtpEiGoHurxMJ82Zav39Rc8LbG39ThRRYA_fF74l4MkMlUJ3eMgc4dzFFzPqYm2J/s400/Geothermal2009-2.jpg" border="0" alt="geothermal pump installation" id="BLOGGER_PHOTO_ID_5407163463466182690" /></a><br />
Doing the right thing for the environment sometimes means messing up a bit with it first. The alarming photos are of a <a href="http://en.wikipedia.org/wiki/Geothermal_heat_pump" target="_blank">geothermal heat pump</a> installation. The good news from the trenches is that in the end it's all worth it (at least for a more rural kind of property): cheaper heating during the long winter and cooling during those couple of weeks of summer, <i>and</i> some hot water too. A <a href="http://www.nextenergy.ca/faq.html" target="_blank">FAQ</a> also mentions cuts in <i>your personal emissions</i> (something we already avoid in social situations). Can't go wrong.<br />
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<a href="http://www.nextenergy.ca/how-it-works-flash.html" target="_blank">NextEnergy</a> has a simple explanation of how this works and generally what's involved. Our friend rw indicates that the extent of the digging (for the underground pipes) is dictated by the size of the house to heat, and that it can also be done vertically (which is more expensive, unless of course you hit oil). Several federal and provincial <a href="http://www.nextenergy.ca/gov-grants.html" target="_blank">grants</a> make this enterprise somewhat more affordable.<br />
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Mind you, last year my front yard looked pretty much the same. Some guys painted <i>Plumbers</i> on their truck but couldn't find a sewer pipe if it dripped on them. Then recently <acronym title="National Aeronautics and Space Administration">NASA</acronym> used a similar technique to ascertain there is <a href="http://www.nasa.gov/mission_pages/LCROSS/main/prelim_water_results.html" target="_blank">water on the moon</a>; luckily, NASA employs more competent people.<br />
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Back to the geothermal thing. It's also good for the environment. Just installing it should give one a warm feeling.<br />
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<span style="font-size:78%;"><b>Photos</b> by rw.</span><p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com0tag:blogger.com,1999:blog-2116033993225197971.post-86649309440161394052009-11-21T00:00:00.005-05:002009-11-21T15:31:09.713-05:00Ceci n'est pas un message<p></p><br /><p style="text-align:center"><a href="http://en.wikipedia.org/wiki/Ren%C3%A9_Magritte" target="_blank">This post</a><!--René Magritte--> <a href="http://en.wikipedia.org/wiki/Self-reference" target="_blank">intentionally</a> <a href="http://en.wikipedia.org/wiki/Intentionally_blank_page" target="_blank">left</a> <a href="http://en.wikipedia.org/wiki/Blank_space" target="_blank"> .<!--blank--></a></p><br /><p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com0tag:blogger.com,1999:blog-2116033993225197971.post-1557757460646594842009-10-31T00:00:00.024-04:002010-05-15T02:54:05.596-04:00Tricks, no treats<p>Want something scary? <a href="http://www.investopedia.com/terms/d/dark_pool_liquidity.asp" target="_blank">Dark pools</a> (mucky waters for <a href="http://www.investopedia.com/terms/u/upstairstrade.asp" target="_blank">upstairs trades</a>)! <a href="http://www.investopedia.com/terms/b/bullet_dodging.asp" target="_blank">Bullet dodging</a>, <a href="http://www.investopedia.com/terms/r/round-triptrades.asp" target="_blank">round-trip trading</a>, <a href="http://www.investopedia.com/terms/c/churning.asp" target="_blank">churning!</a> <a href="http://www.investopedia.com/terms/h/high-frequency-trading.asp" target="_blank">High-frequency trading!</a> <a href="http://www.investopedia.com/terms/f/flash-trading.asp" target="_blank">Flash orders!!</a> And the list (we can only assume) goes on.<br />
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<b>Some are too big to fail. We feel too small to succeed...</b></p>Something scarier? Try the <a href="http://www.usdebtclock.org/" target="_blank"><b>US debt clock!</b></a> (No daylight savings for this clock.)<br />
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<a href="http://www.usdebtclock.org/" onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" target="_blank" title="Such was the origin of that debt which has since become the greatest prodigy that ever perplexed the sagacity and confounded the pride of statesmen and philosophers. At every stage in the growth of that debt the nation has set up the same cry of anguish and despair. At every stage in the growth of that debt it has been seriously asserted by wise men that bankruptcy and ruin were at hand. Yet still the debt went on growing; and still bankruptcy and ruin were as remote as ever. - Thomas Babington Macaulay, History of England"><img alt="US Debt Clock" border="0" id="BLOGGER_PHOTO_ID_5398238573557788770" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiV9L82ei05rNZf2mes3YeQ_7hL42gb1tSDm-telh_ICFeJBksuXtthKOaIyVXSAeZ7HCJfohDYdSONnYQur7MKO9xp1Y1zQaw-I5v4l9ct8hiCgZrGrYBprsoTX7VoCYEJyvSJR6AvRi80/s400/USDebtClock.gif" style="cursor: pointer; display: block; height: 309px; margin: 0px auto 10px; text-align: center; width: 400px;" /></a>If the US numbers are not doing it for you (and you're not afraid of heights), have a look at the big picture: the <a href="http://buttonwood.economist.com/content/gdc" target="_blank"><b>current global public debt!</b></a> (If this is <a href="http://www.cnbc.com/id/33506526" target="_blank">global debt</a>, who's buying it? <span title="And amid the various cries one heard disputes, reproaches, groans of weariness and fatigue; the voices of most of them were hoarse and weak. Through it all ran a refrain: 'Way! Way! The Martians are coming!' - H.G. Wells, The War of the Worlds">The martians??</span>)<br />
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<div class="separator" style="clear: both; text-align: center;"><a href="http://buttonwood.economist.com/content/gdc" imageanchor="1" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" height="272" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhuji3zBKRkUIYx23R2agHxhRot3IKosqP5axOkovRTHloTP3B5RUzeVpXvrF94vnGDA35l0ChPjhLnyJQ9EMNySK3Kr-liGIWKz68ETr05iDnA_sVUbkPgv_-uEeU_ccgONfHQJNJFo06K/s400/GlobalDebt.jpg" width="400" /></a></div><br />
(Scared the living daylights out of you yet?)<br />
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<i><b>B o o ! !</b></i> Happy Halloween!<p></p>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-2116033993225197971.post-48166066134830140402009-10-29T10:37:00.040-04:002010-05-21T09:50:45.920-04:00The sure things in life — the guides<span style="color: rgb(158,82,5);font-size:90%;" >• <i>Updated December 3, 2009:</i> reference the new, 2009-10 Tax Planning Guide</span><br />
<p>There aren't many certainties in life. A couple, maybe, come to mind, being always mentioned as they are. As luck would have it, <a href="http://www.cga-ontario.org/" target="_blank"><acronym title="Ontario's Certified General Accountants">CGA Ontario</acronym></a> does an admirable job at writing about both clearly and concisely. And then some.</p><b>Less taxing taxes.</b> Whether you do your own taxes or not (and unless you have a business or a complicated tax situation you <i>should</i> do them yourself, preferably aided by a computer program), <a href="http://www.cga-ontario.org/assets/file/PTP09.pdf" target="_blank"><b>Your Personal Tax Planning Guide</b></a> is an excellent overview — both the big picture and useful details — of how taxes work in Canada.<br />
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<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://www.cga-ontario.org/assets/file/PTP09.pdf" title="The reason that everybody likes planning is that nobody has to do anything. - Jerry Brown" target="_blank"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 243px; height: 400px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXbsKDd_Qsn7Wc1IEEUMoqitXQZVV2etNJ2maNQ4qRNZWKLF6tTs7fpBLChPfvM9Jhn2VgrDDi6X7NVSyuIEF7gkNrEqRoiL4Z4JYSoIQEpL6myOG9HOnj2bE7BRyUdMUXhvITPFLpkvQ4/s400/CGA-TaxGuide.gif" alt="CGA Personal Tax Guide cover" id="BLOGGER_PHOTO_ID_5398862685802705426" border="0" /></a>The contents are pretty much those of the familiar Income Tax Return guides, but the simple fact that a different wording and shorter sentences are used may clarify lots of matters for the tax-language challenged among us.<br />
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The introduction stresses the need for continuous financial planning, and the need to be familiar with changes to the income tax legislation, in order to minimize or defer the payable taxes. This is actually the goal which drives the explanations in this guide.<br />
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The following sections cover the specifics:<ul><li>major federal and provincial changes affecting individuals for the tax year</li>
<li>income and expenses - employment income and deductions, business and self-employment deductible expenses, investment income and expenses, personal deductions</li>
<li>tax planning issues - income splitting, deferred income plans: regular and spousal <acronym title="Registered Retirement Savings Plan">RRSP</acronym>, <a href="http://financialtactics.blogspot.com/2009/04/tfsa-or-free-taxes-profits-for.html" target="_blank"><acronym title="Tax-Free Savings Account">TFSA</acronym></a></li>
<li>tax credits</li>
<li>Ontario provincial tax issues</li>
<li>several handy appendices - marginal tax rate tables, important tax planning and filling dates.</li>
</ul>Tax tips are sprinkled throughout. For example:<ul><li>A computer used by a professor to teach and create music was ruled to be a musical instrument and thus eligible for employment deductions.</li>
<li>You may include premiums paid for private health insurance in your medical-expense claim.</li>
<li>Fees for your child's extracurricular classes may also be eligible for the tuition credit if your child is at least 16, the classes are taken through a certified educational institution, and the program provides occupational skills. Dance or skating lessons are examples of classes that might qualify.</li>
</ul>Updated every year, the new edition appears in December.<br />
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<b>Where there is a will.</b> Then there is the <a href="http://www.cga-ontario.org/assets/file/publication_executorship.pdf" target="_blank"><b>Executorship</b></a> booklet. It's a guide to the various duties of the estate trustee, the one appointed to administer the will. These may include locating and examining the will, taking an inventory of the property and debts involved, and administering the estate: dealing with the assets (such as cash, investments, insurance policies, personal possessions) and settling the liabilities (such as taxes). The booklet's stated purpose is to make one aware of what is involved, either for deciding whom to choose for the task, or for accepting such an appointment. It can also be useful in organizing one's affairs and preparing a draft of the will.<br />
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Several government web sites are listed, and additional references are suggested. The glossary lists, among other terms, <i>ademption</i>, <i>hotchpot</i>, and <i>per stirpes</i>. This in itself makes it worth the price.<br />
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<b>Good grief, more.</b> Several other <a href="http://www.cga-ontario.org/Publications/Information_Booklets.aspx" target="_blank">information booklets</a> are available, such as:<ul><li><a href="http://www.cga-ontario.org/assets/file/taxtipsforstudents.pdf" target="_blank"><b>Tax Tips for Students</b></a> - tax information for Ontario post-secondary students; we also highly recommend <acronym title="Canada Revenue Agency">CRA</acronym>'s own <a href="http://www.cra-arc.gc.ca/E/pub/tg/p105/README.html" target="_blank">Students and Income Tax</a></li>
<li><a href="http://www.cga-ontario.org/assets/file/Accounting_Def.pdf" target="_blank"><b>ABCs of Accounting</b></a> - definition of the more common accounting terms, like <i>depletion</i>, <i>engagement</i>, <i>just-in-time</i>, and <i>ethics</i>, some of which in accounting have a meaning different from what we knew; we couldn't locate <i>creative accounting</i></li>
<li><a href="http://www.cga-ontario.org/assets/file/publication_keeping_record_straight.pdf" target="_blank"><b>Introductory Accounting for Not-For-Profit Organizations</b></a> - describes a simple bookkeeping system developed by CGA Ontario for small organizations, and enumerates a series of items to deal with in running such an enterprise — sales tax and GST, workers' compensation insurance, employer health tax, incorporation and insurance, etc.</li>
<li><a href="http://www.cga-ontario.org/assets/file/publication_resource_guide_business_immigrants.pdf" target="_blank"><b>Resource Guide for Business Immigrants to Ontario</b></a> - lots of useful contacts for <i>anyone</i> contemplating self-employment: professional and trade associations, programs of interest to new businesses — such as Small Business Enterprise centres, forms of business and registration — sole proprietorship / partnership / corporation, licenses, government assistance programs, sources of financing, labour laws, registration for regulated professions, certification, intellectual property, federal provincial and municipal taxes, available export and import assistance.</li>
</ul>Free hard copies of all the guides can also be ordered. Most have smiling faces on the cover, including the <b>Executorship</b> one.<br />
<br />
Finally, if you're young and looking for a career, and your parents have always been on your case pushing you to become an accountant, this site also provides the <a href="http://www.cga-ontario.org/Prospective_Students.aspx" target="_blank">information</a> on becoming a CGA.<p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com1tag:blogger.com,1999:blog-2116033993225197971.post-84729269062278631812009-10-12T23:07:00.047-04:002010-04-18T08:34:14.478-04:00Badadadada-dada Thanksgiving<p>Earlier today, long weekend and whatnot, we spent some time talking to the guy next door. Turns out he's been <a href="http://www.loriborgman.com/Archives/2009/07-July/A%20lay%20off%20by%20any%20other%20name.html" target="_blank">laid off</a><!--"http://www.philly.com/philly/business/personal_finance/072109_layoff_by_any_other_name.html"-->, for a while now.</p>After decades of hard labour and stress, he assures us he's having, at long last, a real great time.<br />
<blockquote><i>Slow down, you move too fast,<br />
You got to make the mornin' last.<br />
Just kickin' down the cobblestones<br />
Lookin' for fun and<br />
Feelin' groovy...<br />
Badadadada-dada feelin' groovy...</i></blockquote>The slang is dated, the feelin' is current. He showed us an e-mail he sent to a previous co-worker:<br />
<br />
<span style="color:rgb(0,0,106);"><i>I discovered I'm again enjoying the simpler stuff, even taking pleasure in, say, the occasional cleaning of old stacks of papers (or the basement), or doing the boring chores I've been dutifully postponing for years. I remember years ago (we were still in the old building), crossing the parking lot towards the bus station at the end of the day, I noticed a colleague walking ahead of me. She stopped, then stooped a bit to smell the flowers near the manufacturing building. [I was living in a cliché!] At the time I was sure she must have been a student (that age, when we are all romantic and everything). Now that I think about it, I'm inclined to reconsider — maybe she has also been laid off!?</i></span><br />
<blockquote><i>Hello lampost<br />
Whatcha knowin'?<br />
I've come to watch your flowers growin'.<br />
Ain'tcha got no rhymes for me?<br />
Doo-it an'<!--Doot-in'--> doo-doo,<br />
Feelin' groovy...<br />
Badadadada-dada feelin' groovy...</i></blockquote>He worked (in and around the house) this entire Labour Day, last month. When everybody rested. Never having taken a real vacation in so many years of employment, or too many weekends for that matter (thanks to the on-line technology), he got into the habit of being a bit of the contrarian. And now that all that free time he's owed has been granted, in one big chunk, he allows himself the occasional transgression.<br />
<blockquote><i>I've got no deeds to do,<br />
No promises to keep.<br />
I'm dappled and drowsy and ready to sleep.<br />
Let the morningtime drop all its petals on me...<br />
Life, I love you,<br />
All is groovy...</i></blockquote>Guy next door, not one to lay about, updated his skills scrupulously during this period. He's proficient now, for example, at catching fruit flies (mid-air), thanks to the <a href="http://financialtactics.blogspot.com/2009/06/another-mans-treasure.html" target="_blank">garbage strike</a> which provided Toronto with an abundance of these. He's having a riot every time he opens the credit card bill (the bills, sure enough, keep coming as if nothing changed — which, in a way, is reassuring), and reads the travel-protection inserts that seem to have started appearing the exact week he was, mercifully, let go. <i>We are committed to offering you travel protection solutions that can keep you covered wherever you go.</i> Does he need insurance for traveling around his own backyard? For dragging the garbage bins to the curb and back once a week?<br />
<br />
He finds all the recent news about the end of the recession a bit alarming. If <a href="http://www.canajunfinances.com/2009/10/13/better-employment-numbers/trackback/" target="_blank">jobs reappear</a>, and everybody gets working again, is miserable, and shops patriotically in support of the economy, will people's oh-that-poor-guy feelings of sympathy turn into plain oh-that-lazy-bum resentment?!...<br />
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For now, he's thankful. Doo-it an'<!--Doot-in'--> doo-doo, <i>Happy Thanksgiving!</i><br />
<br />
<span style="font-size:78%;"><a href="http://www.youtube.com/watch?v=VqU9PqIhuIY" target="_blank"><b>Feelin' Groovy (The 59th Street Bridge Song)</b></a>: lyrics by Paul Simon. Simon & Garfunkel, <i>Parsley, Sage, Rosemary and Thyme</i>, 1966.</span><p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com0tag:blogger.com,1999:blog-2116033993225197971.post-56971149648693143352009-10-07T16:25:00.016-04:002010-04-01T14:36:25.766-04:00|| ||| | |||<p><i>I will not be pushed, filed, stamped, indexed, briefed, debriefed, or numbered.</i> — <a href="http://www.youtube.com/watch?v=29JewlGsYxs" target="_blank">The Prisoner</a>. Nor bar-coded?!<br />
<br />
Google search's logo-replacement doodle (quite recently into UFOs, crop circles, and such) was today all in praise of the ubiquitous <a href="http://en.wikipedia.org/wiki/Barcode" target="_blank">bar code</a>, so we couldn't resist...<br />
<br />
<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg76NPRHMqC7d2JoTwpqpFP8WjwU1IcaBcUWGPevfDl_MOYloDx7xu8HXA9euLlG4U9L9WsGNnkGtAt4lNuyDXZW7fqZA4OrQutxhq6V4FyatBogbec6owLPoCHs8gSRyq_k3zIwk_6DWwu/s1600-h/financialtactics-barcode.jpg" target="_blank"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 400px; height: 100px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg76NPRHMqC7d2JoTwpqpFP8WjwU1IcaBcUWGPevfDl_MOYloDx7xu8HXA9euLlG4U9L9WsGNnkGtAt4lNuyDXZW7fqZA4OrQutxhq6V4FyatBogbec6owLPoCHs8gSRyq_k3zIwk_6DWwu/s400/financialtactics-barcode.jpg" alt="" id="BLOGGER_PHOTO_ID_5389957002016508482" border="0" /></a>Ours was created by <a href="http://www.barcodesinc.com/generator/index.php" target="_blank">Barcodes Inc.</a>'s free bar code generator (in Code 128B). Feel free to scan us.</p><p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com0tag:blogger.com,1999:blog-2116033993225197971.post-91310253775303064472009-09-29T22:13:00.020-04:002010-04-30T18:54:35.918-04:00Live entertainment<p>Today we received in the mail what at first glance appeared to be an invitation to the open house of a new school. When we looked a bit closer, we decided it's for an upcoming Halloween party.<!-- Then we thought it's just a sick joke.--></p><br />
<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgyreq4qzjy1yjrGLkx9YIRjY7x5VM11RPqE7R_WUdVIE1g_vCeAnt_1PxsHArxdW7CeMilAsy7YPMte2wrkyXm13ZAiZz6HcHzNj_nRu1nBr0BFJm-FSAJvNwx34IdcdOxHTmB_s7TLSg5/s1600-h/Invitation.jpg" target="_blank"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 204px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgyreq4qzjy1yjrGLkx9YIRjY7x5VM11RPqE7R_WUdVIE1g_vCeAnt_1PxsHArxdW7CeMilAsy7YPMte2wrkyXm13ZAiZz6HcHzNj_nRu1nBr0BFJm-FSAJvNwx34IdcdOxHTmB_s7TLSg5/s400/Invitation.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5387067332586808322" /></a><br />
It's neither.<!--none of these.--> To find out where all this fun is taking place, you also may need to take a closer look (e.g., click on the invitation, see address at the bottom).<!-- It <i>ain't</i> a dead cat on the line.--><br />
<br />
Seeking guidance from Investopedia, we immediately unearthed <a href="http://www.investopedia.com/terms/d/defunct.asp" target="_blank">defunct company</a>, <a href="http://www.investopedia.com/terms/g/graveyardmarket.asp" target="_blank">graveyard market</a> (the investors can't get out of it, and the investors who aren't in it don't want to be — likely not even at the visitation centre), <a href="http://www.investopedia.com/terms/t/tombstone.asp" target="_blank">tombstone</a> (which provides investors with <i>bare bones</i> information on a security), <a href="http://www.investopedia.com/terms/z/zombies.asp" target="_blank">zombies</a> (also known as the <i>living dead</i>), <a href="http://www.investopedia.com/terms/g/ghosting.asp" target="_blank">ghosting</a> (a rather illegal practice), and <a href="http://www.investopedia.com/terms/w/witching-hour.asp" target="_blank">witching hour</a> (the heavy trading of the last hour — once in a while, <i>happy hour</i> in our experience). There are more...<br />
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Anyhoo... We are dead sure business must be good. If you're alive and fancy a defunct company, drop by.<p></p>ashttp://www.blogger.com/profile/09306887430112760436noreply@blogger.com0