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Commentary - Efficient Market Canada


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It's fair to say that both the financial press and the government regulators have been "captured" by the financial services industry. Generally, what is reported in the press and upheld by government regulators are the interests of financial industry advertisers, institutional investors, and other big money interests. This series of articles will pick out specific statements from the mainstream press and critique them.

Should You Take the Canadian Securities Course?

Contributed by: martingale

Commentary Would the Canadian Securities Course help you to become a better self-directed RRSP investor? The CSC is one of the educational requirements for registration with one of Canada's self-regulatory organizations. For example, you're required to take a course like the CSC if you want to work as an investment advisor or mutual fund salesperson. What does this course teach you, and would it be useful for an ordinary investor managing their own RRSP?

Want to Retire on Hans Island?

Contributed by: martingale

Commentary Do something patriotic with your retirement: Retire on Hans Island!

Hans Island is a small uninhabited barren knoll located in the strait that separates Ellesmere Island from Northern Greenland. It's one of the most desolate places in Canada, and it's not really clear why anyone would ever want to live there, but then everyone's different. Canada's claim to sovereignty over Hans Island has recently been challenged, and given how difficult it would be to live on Hans Island, retiring there really would be a heroic act of patriotism.

Update: RRSP Reform Receives Royal Assent!

Contributed by: martingale

Commentary Bill C-43 has received Royal Assent! The old foreign content limits on RRSP's are now officially and legally gone. You can now put as much of your RRSP into foreign securities as you like with no penalty. Thanks to each and every one of you who contacted your MP and demanded passage of Bill C-43. Efficient Market Canada strongly recommends that you increase the US dollar investments in your RRSP and take advantage of the Exchange Traded Funds available on the US stock market.

Canadian RRSP Investors: Demand Passage of RRSP/RRIF Legislation

Contributed by: martingale

Commentary The recent budget proposal to eliminate the RRSP foreign content limit is in trouble: Bill C-43 may die on the order paper. Bill C-43 is the enabling legislation that implements the key budget proposals that every party in the Commons had previously agreed to. This includes the removal of the foreign content restriction on RRSP/RRIFs, as well as the increases in the amount you can contribute tax-free. If the Opposition defeats the Liberal minority government before Bill C-43 becomes law it will be a terrible shame. Whatever your political stripes, please contact the Conservative Party, the Federal NDP party, and (for Quebec residents) the Bloc Quebecois and urge them to pass Bill C-43 before they force another federal election. You might also make some progress by contacting the local riding associations in your area--you can find them on the party websites. No matter who you would vote for you have a direct, financial, real money-in-pocket vested interest in seeing Bill C-43 passed before there is an election.

The Globe & Mail Misleads On When To Sell

Contributed by: martingale

Commentary The Globe & Mail is running a story on when you should sell a mutual fund that has been underperforming: The article investigates several funds which have "underperformed" as a way of illustrating how you might analyze your own funds. There are several gross errors in this analysis that investors ought to be aware of. This article suggests that investors who "buy and hold forever" are somehow fools--which may just be an attempt to fool you into churning your money, earning transaction fees for companies that advertise in the Globe & Mail.

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