Jack Layton, 1950-2011

When I learned about Jack Layton death today, I was with my cousin. He’s not even 20 yet that he had decided to come to Montreal to find a job and play his music in bars. He has some problems to find a job, so I decided to give him a hand to save my soul. At not even 20, I was still at home, enjoying life and I never had worked more than the 3 summer months of the school year. I mean, at not even 20, I didn’t know anything about resume, job interviews and, like him, at not even 20, I wasn’t bilingual, I was even worst that what I am now. I am mean real worst! Keeping in mind who I was when I wasn’t even 20, well, I decided to text him and asked him if he had find a job yet. He didn’t. But he had given it a try. So I told him I was going to help him.

That’s how we met this morning. He was wearing his long hair in a ponytail and was wearing sunglasses. And there, I remember how I felt when I was not even 20. Unconscious and knowing nothing about absolutely everything. We went to eat. I bring him at a Portuguese restaurant on St-Laurent at a place where they cook typical Portuguese chickens with their own spices. Absolutely delicious! It was my treat. Following what, we sat down at a cafe.

First of all, he still had a New Brunswick number. So I make him call his carrier from my cell phone to have his number change to a local Montreal number because he didn’t care about his New Brunswick number and also, well, it absolutely need to be change. We had the number change, and after that, I took a look at his resume. A very short one page long, with no task description, just very little info. So I told him, always for the best of my soul, that I will later review his resume...

Despite the very short resume, we run to a place where I knew there has a chance for him to get a job. I would have prefer for him to work in a restaurant, a shop or something like that, but despite the fact that I warm him about the job I was going to get him, well, he didn’t seem to care. I didn’t want to send a review resume to that place because I secretly would prefer him to work someplace else, any other place but that place. Anyhow, I brought him in, I refer him to the job. I am pretty sure he will get a job interview. But it’s not what I would have like for him. I cannot do miracle however. I will be waiting for that job response from him and if it doesn’t work, well from there, I will be working on his sweaty very little and short resume...

My soul count for something in it, but I was very happy to help him. It mean something to me.

While referring him, there was a TV on at the HR office and it’s there that I notice the picture of Jack Layton with the dates 1950-2011... I couldn’t believe it. I was totally, very devastated and I felt greatly sad for the lost, the man, the party I had voted for at the latest federal elections.

On the day I met my cousin in Montreal, Jack Layton died.

Seriously in business with the Sprott Physical Silver Trust ET (PSLV)

The pass week had been difficult for my portfolio. Here are the data for this last Friday:

Non-registered portfolio value: 106 387$
Money used on margin: 43 664.23$
Money left on margin: 16 249.97$

This week had been mark by my sell of HZD, among other. I don’t know if I will be able to invest in CNR anytime soon like it was planned because I am running short on cash. But for sure, when I will be able to do so, I will be investing in a few stocks of CNR.

Something very special happen on Friday. On Friday, for the first time ever, my investment in Sprott Physical Silver Trust ET (PSLV) had gained in value. Sometimes, I can have the worst horrible timing ever! I first invested in PSLV when the units were at their highest value ever, somewhere around 22$, just BEFORE the silver crash... Following the silver crash, I decided to buy more of Sprott Physical Silver Trust ET (PSLV) units. That time, the units were at 16$. So with a mix of 22$ and 16$ units, I was able to make my way. My initial investment value in PSLV worth 3 075.16$. My investment in PSLV closed Friday session with a 3 127$ value! Nothing huge, but I had been able to recover from the silver crash and from now on, my investment in PSLV can only grow more.

As for the Sprott Physical Silver Trust UTS (PHS.U), I own some units in my TFSA and my RRSP. In my TFSA, I had been holding PHS.U for quite some time. My original investment was of 3 114.60$. The same investment closed Friday at 4 013$, a 898.40$ gain. My RRSP investment is more recent. My initial investment was of 1 188$. That investment closed Friday at 1 338$, a gain of 150$.

Another positive sign: my Sprott Canadian Equity fund investment closed Friday session at more than 7k. As long this one can exceed the 7k, I am happy! Because I originally invested a bit more than 7k in this one back... in 2008. This investment is a survivor of the 2008 stock crash.

It’s very difficult to make money in these market conditions, but adding silver and gold to an existing portfolio can help create value and minimize the lost. My portfolio closed Friday session at 106 387$. Not too good, but not too bad either. I am now able to emotionally manage the market crash better. It’s something I am getting use to... Because for me personally, the biggest crash I lived as an investor was one of 2008. That was like 3 years ago... There’s a major different between a normal and desire market volatility and a stock market crash. And the difference is not easy to live.

Despite it all, I am going through this. My margin account is adding more risk, but I have a 8k I can transferred to my margin account in case of need. Some of my very strong asset makes it possible for me to go through those difficult times.

Despite the crisis, this small cap had performed extremely well: WesternOne Equity Income Fund (WEQ.UN). I closed Friday session with a gain of 203.01$ on this one. So thank you, kind reader share this precious one with me... Try to find a top small cap performer in these market conditions... It is really that difficult at this time!

Luckily, I always have in my portfolio good performers. So the good ones help bring some fuel to the bad ones... I am happy to be able to spend my days following the market and work overnight and in the weekend only. I am about to turn 31 sometime soon and I had all the luck of the world. At least so far.......

The TSX had crashed again, investors fear recession

A couple of hours passed since I had sell Horizons BetaPro COMEX Silver Bear Plus ETF (HZD). I do not regret my decision for all the reasons I had explained previously. No regret. Just a release. It feels very great now, despite the fact that I had experiment a capital loss by selling HZD. But the time had come, especially following the move of you know who in you know what.

The TSX losing a great deal of points today. Here are the data for August 18:

Non-registered portfolio value: 107 538$
Money used on margin: 43 524.99$
Money left on margin: 17 129.79$

I am aware the situation could deteriorate. Japan just got hit by another earthquake. Euro zone markets and Asian ones as well had lost again points. Probably today opening will be as ugly as yesterday. I focus on the possibility that things will eventually get better. As long my portfolio don’t get liquidate over a margin call, as long everything remains the same, as long I continue to cash the same good dividend income well, on that case, all the chances of the world will be on my side. I am very curious about how things are going to be for the market opening so if you don’t mind, I am going to bed now :0)

Welcome Kinross Gold Corp (K) in my portfolio! Adios, Horizons BetaPro COMEX Silver Bear Plus ETF (HZD)!

It wasn’t a difficult or easy decision to make. However, my decision took place a day after Eric Sprott sells some gold asset to reinvest an amount 30 million in silver. See, Eric Sprott had previously sold silver just before the silver crash (in May or April 2011?, I don’t quite remember despite the fact that I had lived the silver crash because I has some investment in silver...). This time, Eric Sprott recent move in silver mean to me that silver will probably keep gaining value. If it’s the case, my investment in Horizons BetaPro COMEX Silver Bear Plus ETF (HZD) would have continued to lose in value... Since my last portfolio update – that was back in July – HZD had lost in value on a regular basis.

I had been holding Horizons BetaPro COMEX Silver Bear Plus ETF (HZD) for a little while now. I got stuck with the investment following a day trading try out. But I have no regret. I never did some day trading before. I made a little bit of money, it was fun. But with HZD, I got stuck with it. I had been holding trying to sell at profit. But fact is that now than ever, silver is on the road for glory.

I like Eric Sprott very much and if he had sell gold to reinvest in silver, well, too me, it mean a big deal.

I sold previously this morning my 400 units of Horizons BetaPro COMEX Silver Bear Plus ETF (HZD) at 4.72$, for an amount of 1 888$. I lost a bit more than 1 000$. It’s not something I could avoid, I needed to go through this to become a better investor. I don’t feel bad about. I like to share everything I do and this had been a big part of my learning experience. Generally speaking, I made and lost money in the market. No one wants to lose money. I am not in to lose money at all! BUT.. so far, my gains always had exceed my capital loss. This is what I focus more on. And I promised to stop investing once my loss will exceed my gains. I am not afraid of the market. The stock market always been good to me and I want to continue to invest. I took this new direction, to invest in blue chips for the next couple months. I did a good investment in TransCana. My next one will be in CNR. I am confident that overall, my gain will exceed my lost. That’s what, I think, all retail investors have to focus on. Making investment mistakes is no big deal (as long of course that the gain exceeds the lost...). I hope that this will eventually help people out there to realize the danger of day trading.

I know this will sound strange. But it does actually feel good not to hold Horizons BetaPro COMEX Silver Bear Plus ETF (HZD) anymore. I was getting tired of it. So thank you, Eric Sprott for selling gold to reinvest your foundation money in silver. I am grateful.

I reinvested the money in not a blue chips, but in something that could help me to rebound from my 1k loss: Kinross Gold Corp (K). I purchased more than 100 stocks at 16.58$. Currently, K trade at 16.36$. I didn’t want to reinvest in PHS.U because its trade in US money. I didn’t want to invest in something I already have. K is being well ranked by analyst, so I taught about giving it a chance to save me. Of course, a 1k gains won’t happen overnight. Especially in this market condition. I am responsible for my bad investments. I am happy of my move. Holding HZD was getting depressing. I am about to turn 31 soon and I want to celebrate while only holding good stuff in my portfolio.

Also, K will pay a dividend in September, for which I qualify. Also, I did not want to sell part of my First Majestic Silver Corp (FR) stocks to invest in Kinross Gold Corp (K). I really like FR. It’s the purest silver producer of Canada. Latest quarter results were really great. I mean, no, I wanted to continue to hold FR for now.

And as always, we’ll see how it goes!

Eric Sprott had sell for 30 million worth of Sprott Physical Gold Trust (PHY.U) units

It's been reported by the Globe and Mail that the Eric Sprott has sold his gold units hold in his Sprott Physical Gold Trust (PHY.U). And seem like he is reinvested the money into his silver darling! WOW! The amount collected by his sell is... 30 million. Sprott is trading silver again! It's getting some of interesting!!!

TSX up of a few points, I am now back on the 110K for my non-registered portfolio.

Closing the night with my vote for New Flyer Industries Inc. (NFI.UN) IDS Holders of Non-Cash Rights Offering

That one was not easy to understand. Not easy at all. The prospectus received is really not easy to understand. That’s why I wait until the limit date to exercise my vote. I had vote the FOR, meaning I decided to exercise the rights on my shares. According to some reading done online, it was the best option. Also, I vote according to New Flyer recommendation. I also pick the option with the fiscal advantage, even if I don’t a clue of what it mean, especially knowing that in the prospectus, it is said that we have 90 days to print a document on New Flyer Web site to have those fiscal advantages... So it’s pretty mess up. However, the most important part was to exercise the vote. But what a headache!!! Very unclear and badly explained. The prospectus suck!!! I began to really hate New Flyer at this point for making me going through this.

My shares were bought at an average value of 11.75$. If lucky, this could boost my return to 12$+.  And this being done only by exercising my right! If you are a shareholder of New Flyer Industries Inc. (NFI.UN) and as much confuse as I am, read these posts and this one here. I think it’s obvious that exercising the vote is the best thing to do. It’s also what recommends New Flyer. I did the best I could.

It could take up to 2-3 weeks before I see the results in my broker account at TD Waterhouse. I cannot wait to see what it will be like... No matter what, I am still a proud shareholder of NFI.UN. But I guess they didn't give a damn that a retail investor understand or not what we were going to read and I find it quite insulting. Very shock still about the prospectus. However, I am very excited because this is my chance to recover from the current loss that I am experiencing with NFI.UN since I bought my shares at an average price of 11.75$ each. This is the ultimate chance.

Good night. Today is the last day to exercise your rights. You need to call your broker. If not, no deal.

For your information: Exchange Income Corporation (EIF) getting some media attention

I own Exchange Income Corporation (EIF) to a reader who suggested EIF as investment. That was back in February 2011 and I had been holding EIF ever since. I am very grateful. It can be difficult, all by itself, to find new investment diamonds. The pearl pays a dividend yield of 7.602%. Best of all, EIF distribution are paid on a monthly basis. Following my sell of Yellow Media Inc. (YLO) a little while ago, I made the decision to reinvest the money in EIF, hoping for a big return and recover from a 300$ loss.

I love Exchange Income Corporation (EIF) from the started because their business is very diversified and they have business in the Inuit territory. And I love native and the Great North territory. Will the love pay back? So far so good. EIF is being managed from the West. It’s one of those company you can expect everything. Let’s see what the Globe had to report about EIF:

“Exchange Income Corp. (EIF-T21.31-0.37-1.71%), an acquisition-oriented transportation and industrial manufacturing company, delivered “excellent” second-quarter results, with both sales and margins exceeding expectations, commented Canaccord Genuity analyst Chris Bowes. “We believe the outperformance is sustainable and below the firm’s potential,” he said.

Upside: Mr. Bowes trimmed his price target by 50 cents to $23.75 due to more shares outstanding but maintained a “buy” rating. Stonecap Securities analyst C. Scott Rattee cut his price target by $1 to $27, citing “increasing macro headwinds” in its specialty manufacturing division.”

Fair enough. 23.75$ is a very good price. It’s exceeding my buy price value of a couple of dollars. Right on top of the world.

Gordon Pape positive review of the Claymore Gold Bullion ETF (CGL)

I had been holding some units of the Claymore Gold Bullion ETF (CGL) since March 2010. Back at that time, someone from Claymore had written me an email, which I was surprised of and of course, really pleased. I made the purchased inside my RRSP account at TD Waterhouse. I initially invested 3 587.30$ in some CGL units. In today market value, the investment now worth 5 449$. A very good gain of more than 2 thousand dollars. Kind of cool.

I had been very pleased with my investment in Claymore Gold Bullion ETF (CGL). In good market conditions like in bad ones, the value of Claymore Gold Bullion ETF (CGL) units had remained stable and naturally grow. The CGL doesn’t pay dividend. However, CGL worth it. This is the type of investment you can really rely on without any worries. The investment is very stable and won’t require any attention or management of your part. Investing in CGL is really that easy.

In one of his latest article title “Gold at $10,000?”, Gordon Pape gave a favourable review of Claymore Gold Bullion ETF (CGL). For once, I agree on something he wrote about. I could only applause his words, after holding CGL for close to 2 years now. 

Gordon Pape rock again.

My non-registered portfolio closing August 16 session at 109 714$

Just like unfortunately expected, my non-registered portfolio closed Tuesday session below the mark of the 110k. However, the results were not too bad for August 16, 2011:

Non-registered portfolio value: 109 714$
Money used on margin: 42 861.79$
Money left on margin: 18 170.20$

The market is fragile and may remains this way until Germany came with a solution for the Euro. While waiting for the Euro bonds, I think we’ll have to go through this yo-yo phase. Which meaning the TSX gaining points one day, and the next day, the same point gains disappeared... Over and over again. It takes more than just good investors to be on the today market world. It takes warriors willing to create wealth for the long term. I still believe in a buy-and-hold strategy. It’s just the market out of control volatility make it difficult to handle. But there’s nothing I can handle right.

A good stock market situation indicator is my Sprott Canadian Equity Fund. As long my investment in the Sprott Canadian worth at least 7 000$ (which was about the original amount invested back in 2008), well, that mean that the situation is not that bad. I will be feeling danger if the investment drops under the mark of 7 000$. That would mean that the situation is really getting dangerous for my margin, in the sense that will be in an in deep recession without knowing. The current recession is not that bad. My portfolio is getting through it. I continue to earn great dividend from my investments. My portfolio is very diversified and truly, if I had invested 7 000$ on the same spot, you can be sure I knew, back then, who was Eric Sprott and what the Sprott Canadian could do for me RRSP. I am still waiting for the extraordinary return to come. But while waiting, I appreciate the stability of my investment value. For those kind of things, I can be extremely patient. I just cannot wait to be in my 80s, be extremely rich and scream to the nurses who will be taking care of me: “See, I made it. I made a million out of the Sprott Canadian!” Yeah. And of course, at the age of 80, I will still be blogging and counting each single penny I have. At 30 or 80, everything will be the same damn thing.

While patiently waiting to be rich, I can always dream of...:0)))

This is my 900th post!

My non-registered portfolio is going well despite the fact that the TSX loss more than 100 points. I am currently at 109K. All that trouble just for the European countries who just can handle themselves properly. If it wouldn’t be for the very strong Germany, it would have been a long time that the Euro will have collapse. France? Don’t count on France to save the Euro. It’s the Germany who’s holding the whole thing all by itself. Anyhow, I am hoping for a relatively stable market because it’s not true I am going to wake up on time for the market opening each single day of the week. NO WAY :0) But a good news being, Germany is strong enough to handle it all. I am not under the impression that we will be hit by another market crash, but absolutely anything and everything can happen.

I should take time to update my portfolio value. My last update was back in the beginning of July. I was in vacations for the last 2 weeks of July. And after, in August, we had the stock crash. I never update my portfolio in bad times. Just in good times. It’s a matter of psychology. I won’t show off my results in bad times but I will write about it.

I am just very happy the TSX did not loss too much points and I am very happy that a reader share this new one with me: Aberdeen Asia-Pacific Income Investment Company Limited (FAP). It’s quite an impressive company and I will be working on a post about this one. There are really little things online being said about this stock. But that’s about to change soon. Aberdeen Asia-Pacific Income Investment Company Limited (FAP) going to be in what you know what.

Happy blogging, you are reading my 900th post! Got to reached the 1000 BEFORE my birthday!