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 Post subject: Re: Ricklee's Wealth Journal
PostPosted: Tue Apr 12, 2011 12:46 pm 

Joined: Wed Oct 07, 2009 4:16 pm
Posts: 961
The only reason why I would think Ricklee would want to keep silver is because he considers silver as part of his asset allocation which I am not a fan of.

In that case I would just invest in silver backed etf's.

I really think you should get rid of the silver now, while its on a high.

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 Post subject: Re: Ricklee's Wealth Journal
PostPosted: Wed Apr 13, 2011 7:47 pm 
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Joined: Sun May 10, 2009 9:01 am
Posts: 320
Location: Canada
fantasma wrote:
The only reason why I would think Ricklee would want to keep silver is because he considers silver as part of his asset allocation which I am not a fan of.

In that case I would just invest in silver backed etf's.

I really think you should get rid of the silver now, while its on a high.


For me, owning precious metals was a hedge against inflation. I wanted the physical stuff. I bought gold bullion when it was $400 an ounce. When it doubled, I sold half my gold holdings. It has almost doubled again.

For silver, it is one bar. I can't as easily sell half even though I wanted to. So instead I'm just keeping it. About fifteen years ago, Warren Buffett bought silver when it was trading around $4 an ounce. He eventually sold it for a profit but I don't know at what price.

Precious metals do not pay dividends and so I don't want an ETF for them.

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 Post subject: Cooking My Own Meals
PostPosted: Thu Apr 14, 2011 5:55 pm 
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Joined: Sun May 10, 2009 9:01 am
Posts: 320
Location: Canada
Here are the benefits of cooking my own meals:

1. Sense of mastery = I'm learning to cook from Jamie Oliver and Thomas Keller's books
2. Eating healthy = I lost four inches from my belly since the fall. I have more energy.
3. Contributing to the family = my wife and parents enjoy my cooking
4. Saving money = fewer restaurant meals has been a big savings

I am almost at the point where I have taken over the kitchen in our house.

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 Post subject: Canadian Helicopters!
PostPosted: Fri Apr 15, 2011 6:27 am 
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Posts: 320
Location: Canada
I love stocks that fly below the radar of the Analysts. Canadian Helicopters Group Inc. (CHL.A on the Toronto exchange) has been a great performer since I discovered and bought shares in February 2010.

I liked their:
Business Moat = largest fleet of helicopter services in Canada. Fairly large barrier to entry.
Management = getting contracts with US DOD to balance out its Oil services business
Safety = lots of cash, zero debt
Dividend = about seven percent
Price = less than ten times earnings, less than replacement value

They had ample cash to maintain their dividend policy despite becoming taxable as a corporation who was once in an income trust. They could have bought back shares. What did they do? They bought another helicopter company, the largest in New Zealand. Stayed within their area of expertise. Balanced out their seasonality. Bought it for cheaper than their own shares as a multiple of EBITDA. Financed it through cash and debt rather than diluting the shareholders.

The company has generated earnings to date of 18% of my cost. The dividends I collected to date were 11% of my cost. The stock has climbed 85%.

This has been my best performer in percentage terms since I got serious about stocks.

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 Post subject: Cancelled My Home Phone - on my THIRD try
PostPosted: Tue Apr 19, 2011 8:38 am 
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Joined: Sun May 10, 2009 9:01 am
Posts: 320
Location: Canada
The advantage of cancelling our home phone:

1. Unlisted number phone service becomes truly unlisted.
2. No more telemarketers.
3. Saving monthly $30 tax included

Getting there was tough. I called my big Telco (Bell Canada) in mid-February to cancel. Bell offered a discount if I kept the service - which I declined. Then Bell wanted two pieces of ID to authorize the cancelllation, though I've been a customer for a decade. Then Bell charged me for two more months. Then I called Bell (using VOIP) to remind them that I cancelled in February. Then Bell said they'd look into it and call me back (on my cell phone) next week with the refund details. Then Bell did not call me back. Then I called Bell today. Then Bell confirmed the phone was finally cancelled a few days ago but Bell forgot to process my refund. The full refund will come as a credit on future bills, Bell said. Another example of The Institutional Imperative at work.

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 Post subject: Tax Refunds Have Arrived
PostPosted: Thu Apr 21, 2011 6:48 pm 
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Posts: 320
Location: Canada
My parents received the refunds that I filed for them. And today my wife received her tax refund. With the money, we will put it to the max inside the RRSP contribution room for this year. Doing it early maximizes the tax free compounding, and we won't be tempted to spend it on something we don't really need.

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 Post subject: Invested Child Tax Benefit Payments
PostPosted: Thu Apr 28, 2011 8:11 am 
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Joined: Sun May 10, 2009 9:01 am
Posts: 320
Location: Canada
Updated my child's investment portfolio.

My child receives Child Tax Benefits from the federal government every month. I invest that money in trust for my child and the income and capital gains are taxable in my child's hands. Had I done nothing, the Benefit payments would earn simple interest in my wife's bank account which would be taxable in my wife's hands.

Today I reviewed her investment portfolio. I decided to increase her holdings in a restaurant royalty company that pays a dividend yield of 7.7%. The dividends are continually reinvested in more shares.

Homework: I should do a projection of expected book value of contributions over the life of my child. This is the "seed money" for the first layer of her investments.

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 Post subject: Paid down over $7000 in debt.
PostPosted: Sat May 07, 2011 4:11 am 
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Joined: Sun May 10, 2009 9:01 am
Posts: 320
Location: Canada
This debt was incurred years ago by my wife to raise money for my brother in law. Because he did not have a steady income, borrowing personally was not easy for him. For my wife, the loan was very easy to get.

It was used for a long-term investment. Through the life of the loan, he has faithfully paid each amortization payment. Now that the investment has earned a return, he has paid off the loan's outstanding balance. The lessons of the experience were:

1. Money does not always separate family members. It can bring them together.
2. The way we handled the debt improved our credit rating.
3. He benefited by accessing financing more affordable than had he raised it in his name.

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 Post subject: How to Research Investments Like a Superstar by Imitation
PostPosted: Sat May 07, 2011 4:28 am 
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Joined: Sun May 10, 2009 9:01 am
Posts: 320
Location: Canada
I have been following the investments of the mutual funds managed by Charles Royce, one of the greatest investors of the last four DECADES. Today I looked up three of his mutual funds for their top ten holdings. Several companies were names I did not recognize.

I scrutinized each company in my unique way to distill whether it is the right type of investment for my taste.

The best investors are not afraid to post their holdings. If other investors climb aboard, the increased interest in the company can make the stock price climb.

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 Post subject: My Progression Of Saving Money
PostPosted: Wed May 11, 2011 4:01 am 
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Posts: 320
Location: Canada
The progression of saving money was, for me, a journey of education and action.

At age 6 I saved money in a container
At age 7 I made money by selling tattoo books to my friends
At age 9 I made money from delivering newspapers
At age 10 I saved money in my first bank account
At age 16 I tithed money in my church
At age 19 I spent money using my first credit card
At age 22 I earned money in my first career job
At age 23 I invested money in my first mutual fund
At age 24 I monitored money by tracking my net worth
At age 26 I earned free money using my company's savings plan
At age 26 I lost money in the stock market
At age 27 I gained money using my company's stock option plan
At age 29 I invested money in my own house
At age 30 I shared money by getting married
At age 32 I gave money to charities
At age 34 I made money by starting my first business
At age 36 I risked money by quitting my career job
At age 36 I lost money speculating in stock options
At age 36 I won money learning to play blackjack
At age 36 I invested money in courses on real estate
At age 37 I invested money in gold bullion
At age 38 I saved money for my baby's education
At age 39 I invested money in silver bullion
At age 40 I avoided losing money in the recession by selling my business
At age 40 I protected money from the Taxman during an audit
At age 41 I learned about money by reading Warren Buffett
At age 41 I received money by investing in dividend stocks
At age 41 I gained money by investing intelligently in public companies
At age 42 I saved money by learning to cook

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 Post subject: Consensus Earnings Expectations are a Rigged Game?
PostPosted: Sun May 15, 2011 3:16 am 
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Posts: 320
Location: Canada
The latest interview on Consuela Mack's Wealthtrack was with an analyst who explained how the Consensus Earnings model is a rigged game. Since the late 1990s, for over 50 quarters, most public companies in the U.S. had been guiding the analysts as to their earnings outlook, and then beating the same expectations. These analysts are not independent. Some of them are or want to be involved in future capital market deals with the companies. So the analysts publish earnings expectations that echo the companies guidance. Then, the company releases their results and it beats the expectations. This beat usually enhanced the stock price immediately following.

Well, the market eventually caught on to this as a rigged game. So the market started to look to revenue growth rather than earnings growth. Earnings can be massaged but revenue not so much.

I did not realize the healthy skepticism that can be applied to the Consensus Earnings beats. I learned something new today.

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 Post subject: Today I'm Grateful For..
PostPosted: Tue May 17, 2011 5:47 am 
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Joined: Sun May 10, 2009 9:01 am
Posts: 320
Location: Canada
1. Losing something of commercial value. I did not realize I lost it for a long time, until today. How long did I lose it? I don't know, because I was not experiencing it and I was happy without it. Today I wanted to remind myself of it and see it and could not find it. Now I have a challenge of not getting wrapped up in the loss which is not real. I never owned it. Yet I had it. I still have it. In my mind I remember it. And the utility I enjoyed while it was in my physical presence, I still enjoy it, in the way I could ever enjoy it. In my mind.

2. Not getting results. I am a talented person, I have abilities that I am blessed with. Yet despite my considerable efforts, I did not get the results I wanted yesterday. As I contemplated the lack, I realized the lack is not real. Absence is not present. What is present, and in abundance, more than satisfies my needs.

3. My disobedient child. She has her own mind. Her own desires. Her own preferences for what do do, when to do it, how fast to do it. She is disobedient to me only. She is not disobedient to herself. And I would rather she obey me, as I have a plan for her and it is in line with my wishes and priorities this morning. She reminds me of me.

4. Challenges. I have to accomplish something by the end of this month. Not that it is a necessity. It is a desire to satisfy my ego. I have a belief that I have to have a certain inflow of money by the end of this month. I have a reality that says that I may or may not have that money. The reality is what I should align my belief to accept.

5. Parents. My dad just called me to have coffee with him. I'll see him today.

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 Post subject: What does it feel like to sell a Collection?
PostPosted: Sun May 29, 2011 3:50 am 
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Joined: Sun May 10, 2009 9:01 am
Posts: 320
Location: Canada
I had been a paper money collector for over ten years. I stopped adding to my collection a few years ago. I stopped looking at my collection for a long time. Recently I forgot where I put the notes. That proved to me it was no longer part of my life. The value had increased beyond my cost. I decided to let it go.

Notes that I sold:
1935 series. Including Canada's only $25 note.
1937 series. All uncirculated
1954 Devil Face series. All uncirculated.

The only note that I kept was the US "Hawaii" Note $1 in gem unc condition.

Taking it to a dealer was easy. Seeing the profit margin the dealer wanted to make was at first disconcerting but when I recalled how difficult selling piece by piece to collectors would be, I was happy to sell it to the dealer. As is my habit, I still negotiated a better price before parting with my proceeds.

My feelings after selling:
- lightness, because I have one fewer non-essential possession
- relief, because I found what was lost
- happy, because the notes can be enjoyed by a new collector
- responsible, because I used some of the proceeds to pay debt

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 Post subject: More Wisdom From Charles Royce
PostPosted: Sat Jun 04, 2011 6:36 pm 
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Posts: 320
Location: Canada
I watched a repeat of an interview with Charles Royce, a pioneer in small cap investing based in the USA.

One of the new ideas that I digested is one of ABSOLUTE RETURNS vs RELATIVE RETURNS. To Mr. Royce, Absolute Returns is the only thing that matters. That is, the return on investment, in percentage terms, should be commensurate with the level of risk for the investment. It does not matter what the overall market does, and whether one has beaten the market. After all, if owning the market assumes a higher level of risk than one might tolerate, then underperforming the market with a basket of carefully chosen, lower-risk investments, might be completely satisfactory. I had to think about that one for a minute before the concept was clear in my mind.

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 Post subject: What Do You Do Now?
PostPosted: Sat Jun 04, 2011 6:45 pm 
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Posts: 320
Location: Canada
I was asked "what do you do now?". She had worked with me at a company and we both left it many years ago. I told her "I'm sort of retired". She next asked "are you looking for work?" I said "no...I'm good".

She said "I guess you've done well for yourself".

I said "well, I guess that depends on perspective. I can say that as of right now I am the happiest I've ever been".

She said she is also retired, but doesn't enjoy the retired life. I seem to recall she didn't enjoy her working life.

Being able to access joy, at all ages and stages of life, is priceless.

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