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Financial ground shifts beneath would-be retirees
Fred Penney makes it clear that he has no plans to retire. The business owner based in Grand Falls-Windsor, Nfld., wants to work well into his 60s or longer. “My father is still active in the business and he’s 69,” says the 45-year-old vice-president of Labrador Concrete Products.
However, Mr. Penney is still saving for his golden years. While he may not want to spend all his time lounging...
Ride the summer stocks wave
With the S&P/TSX Composite Index down about 7.5% this month, you might be tempted to heed the long-time investment advice of “sell in May and go away.”
That would have proven to be wise the last few years—the index dropped 12.14% between May 1 and Aug. 31 in 2011—but a new report, released at the end of April, says it’s better to hang on to your investments during the summer.
According...
Investing in the steel industry
The S&P 500 has been on a tear lately, climbing more than 20% since October. While that’s been good news for most people’s portfolios, it’s made hunting for undervalued companies a challenge. The index’s price-to-earnings ratio has jumped from about 12 times earnings back then to around 14.5 times today. One industry, however, continues to be undervalued: steel.
After three stellar...
Buffett cancer diagnosis hits stock, raises succession questions
When Susy Abbondi heard on April 17 that Warren Buffett had prostate cancer, she quickly turned to CNBC to find out just how severe the diagnosis was. Like most people, she wanted to know what had happened to the world’s most famous investor. But she had another reason to tune in: her company owns Berkshire Hathaway stock.
The president of Montreal-based Duncan Ross Associates has owned the...
Emerging markets offer investment upside
For many years, billionaire investor Warren Buffett promoted a “main street” approach to investing that favours companies you know well over companies in far-off lands. But take a closer look at some of his recent investments and you’ll find buys that have significant exposure to rapidly growing overseas markets. In March of last year, for instance, Buffett bought Lubrizol Corp. for US$9...
Stock market to underperform in Q2
Investors who bought into the market six months ago are feeling pretty good right now. Since early October, the S&P 500 has climbed an amazing 24%, while the S&P/TSX composite index has risen nearly 6%. Not bad, especially considering the losses many experienced in 2011. Some hold out hope this market rally will finally replenish lean retirement portfolios. But if the past few weeks...
Apple dividend benefits income funds
You have to know that Tim Cook, Apple Inc.’s new CEO, will never win, competing with the ghost of founder Steve Jobs. He’s overseen two product launches since his late former boss stepped down last August: the iPhone 4S and the new iPad, neither a significant improvement over its predecessor. But his biggest moment so far had nothing to do with technology. On March 19, he revealed that Apple...
Have gold prices already peaked?
It’s easy to tell when Ben Bernanke says something important: markets tend to rise or fall depending on what the U.S. Federal Reserve chairman telegraphs. But when gold prices dropped about 2% early this month, it had nothing to do with what he said. It was what he didn’t say that many blamed for the slump.
On March 1, Bernanke spoke to the Senate about employment and interest rates, but...
Bryan Borzykowski is a Toronto-based writer and editor working mainly for business publications. He writes for the New York Times, Canadian Business magazine, Globe and Mail, Bloomberg Businessweek Custom Publishing, Toronto Star, MoneySense and more. Bryan's the editor of Review magazine and is a senior editor with Connected for Business magazine. He's also a contributing writer with Hello! Canada and was once a weekly music columnist for Metro News. He's been nominated for several National Magazine Awards and he's co-authored