So you lost 15% of a 5% portion of your total portfolio and you're whining like a baby? Yeah, we all feel so sorry for you. I'm sure your senator cares a lot too.
You have two cows. The government seizes both and provides you with milk. You wait in line for hours to get it. It is expensive and sour. OR You have two cows. Under the new farm program the government pays you to shoot one, milk the other, and then pours the milk down the drain.
"Political Risk" - look it up. I think you watched the South Park movie too many times. "BLAME CANADA!"
Good response. The trust tax thing was never meant... As a means for Canada's largest corporations to avoid paying tax... By shifting the burden to shareholders of trusts. Also... I feel like I'm the only person paying taxes in this Canadian socialist paradise. And each and every one of you TAX EVADERS out there... You too smart by half cubicle dwelling "outlaw"... Or immigrant from some hell hole that came here and to suck my blood... Yes YOU... tax-evading scum... Everyone who knows you knows exactly what you are... So kiss my ass... you pathetic, sociopathic parasite.
You obviously know nothing about Canada or it's politics. Your comments are all just about venting over your loss. Get the emotion out of trading and investing. The sooner the better.
Oh come on have a heart. That was 15% on top of a prior 35% loss in one of the Trusts from poor management. You would be crying too if you just gave up the equivalent of a Porsche Boxter or better to the likes of that sneaky snake Jim Flaherty. No that is not going to put me under but I was so looking forward to getting next year's new Porsche model or getting my wife out of her BMW and into the turbo Cayenne. Bummer no new toys till my other portfolio strikes pay dirt and oil and gold bounce back... I have since done the research on the full tax proposal. This totally blind sided large Canadian and US mutual fund and financial planners. The quotes I am reading show severe anger and betrayal feelings from managers. The actual text of Flaherty's statement does not look all that bad for Trusts that were trading before today. The total changes do not go into effect till 2011 for preexisting ones. They also gave normal corps a tax break to stay as corps and not try to become trusts. In a sense your gov just created a protected class and a scarcity which eventually will pay a premium as the intrinsic advantages of a limited number of pre-tax trusts get vetted out. I see opportunity for more than just a dead cat bounce after more foreign money scares out. There is too many billions of dollars committed to trust for there not to be some very grave political fallout from this decision and I expect some more capitulation and back peddling as that money threatens to ruin politicians professional and personal lives. If I was a betting man I'd wager some high level politicians commit suicide inside of a year as domestic pressures destroy family's and certain principals become socially isolated in parts of the community and constituents that lost a ton of money. This could completely change the political structure in Canada and will be entertaining to watch. I paid a premium for my entertainment ticket now I get to watch the drama unfold... My advisors are recommending holding right now but they are very worried that other foreign countries with huge positions will be continuing to bail out over coming days and another round of tanking is about to unfold... TS
And we're having fun watching you respond to a trading loss like a 6 year old, crying and lying and threatening and stomping your feet. Grow up.
I was bored and annoyed at having this month's income wiped out just as I had developed a good cash flow system. Thanks for letting me rant. But I am not lying and your cut and paste job does not take into effect the position changes I made shortly after. I just trippled down in 5 new trust funds and increased in a couple of others I already had. This is a slight gamble but I expect to make a net profit inside of 6 weeks. If that does not pan out I have 4 years before the full tax hit hurts and the increased yield I just bought from the sell off bargain should make the wait tolerable and profitable inspite of the tax loss. Cash is king and that's why I keep a lot of it in short term instruments. 5% return on liquid and very secure short term cash is not too shabby when waiting for new swing opportunities. If you like I can cut and paste my portfolio right here and you can see the realtime net; it changes +/- $43K on average daily. But I really don't care too much to financially mingle with the junior players here unless you can demonstrate a comparable net worth. TS
That's not what I said. Apparently I am too subtle for you. They did it to help themselves as politicians. Constituents with no spendable income after losses do not make political contributions when the volunteers go to calling for pre-election support. It also casts a negative sentiment and focus on mundane lower tier issues that cloud the principal political platforms. Try to expand your sophistication by an order of magnitude and you might discover that you are still standing and making noise in the minor league. TS