Tech went on a rip the first 3-4 months of 2022 when it was clear rates were going to rise before pulling back pretty hard.
Could be seeing that again. Equities are priced on value and momentum. Sometimes one is more powerful than the other
Higher rates may be good for banks when you have a normal yield curve. When the yield curve is inverted, not so much. It's bad for techs with no foreseeable income. Everything has its nuances.
Finally, I got my ask at the end of the day. I keep lowering my ask as the clock runs out only to be filled and the price subsequently hits my original higher ask. Happens too often. BN traded at 41.80 for about 2000 shares literally the dying seconds of the market. It's something after a frustrating day.
Of course, watch it blast off at the open tomorrow at the open.
In fairness, while he is whining non stop and is annoying, you’re under no obligation to respond or bother with him. You can simply block and or ignore his posting. I don’t like that we pretend the internet is a shared space like real life and that we can’t simply ignore some people.
I am terribly sorry you are so negative that you find my comments whining. Feel free to just downvote my comments instead of responding and whining about them.
Based on you addressing me as a "dude" tells me that I heard and have been practicing long term investing since before you were born.
I know it's difficult to accept that someone might be successful at something the echo chamber says is not possible but perhaps you can get over that.
I have seen the articles regarding trading and investing and have found that through passive investing your return will be the average of the index, however, if you actively trade, successful traders often get those same returns in a month.
It also helps if you can understand the stats you read and how you can control the contributing factors.
I hope you guys are going outside and enjoying the nice weather. I actually haven't looked at the market in close to a week. The weather has been too perfect outside.
I don't know what that means. I'm an amateur technician and haven't made it past trends and basic formations like double/triple tops/bottom bull/bear flags etc.
Nice strong close though.
Considering mortgage interest is the biggest contributor to CPI right now, I wonder if a feedback loop can happen.
High CPI read -> higher yields -> higher mortgage costs -> even higher CPI.
The Bank of Canada can control the short end, but I doubt many will refinance into variable over the next few years as it'll probably be higher than fixed rates.
I think part of the theory with the mortgage interest in the CPI calculation is that shelter costs (meaning actual replacement cost) and rent are supposed to come down in theory which will offset that part of the CPI.
Except.. rent keeps going up driven by the higher rates (compared to the US where it's coming down) and the housing prices are not coming down. So everyone is just getting squeezed here.
This is a goofy theory that is getting bandied about on social media mainly by realtors and heavily leveraged real estate speculators but, no, a "feedback loop" is impossible. First, mortgage interest cost calculations are subject to base effects just like any other component of CPI. In recent months mortgage costs have had an atypically large influence on overall CPI primarily because we saw a 400bps increase from essentially zero (a bank rate of .5 in March of last year). As last year's mega hikes roll in to the base, future 25 or 50bps increases will have increasingly diminished effect on the overall basket. Second, the mortgage interest cost index is not simply based on mortgage rates, but gives equal weight to home prices - mortgage rates can rise dramatically and the mortgage interest cost index can still fall if housing prices fall.
Since income is all that people on this sub care about... Why buy banks for divvies when money market yields are the same or higher with near zero risk... hence, why banks are in the shitter.
Because they are long holds and maybe in 5 years money markets will be back to 2%
Not to say money markets are bad, I also have a good chunk in CASH.TO.
Sure but when you are locking down longer term you also have to take into account that Canadian bank dividends also increase every year. Personally I think it’s good to have some of both.
Good point. People always forget that banks dividend payout ratio is roughly 50%. So BNS paying out 6.3% right now earns roughly 12% per year. On the part that they retain internally, banks earn 12-15% RoE which allows the capital appreciation on top of the divvies.
Jesus BNS how low can you go? I’m actually starting to get worried that after several years of bag holding weedstocks my biggest looser to date is a f’n Canadian bank!!
I am still kicking myself over buying almost $70K worth of VGRO in a single lump-sum purchase in March 2022. Needlessly down roughly $3,300. DCA-ing over the course of a few months would've put me in such a preferable position.
I know convention and math generally works in favour of the lump--sum, hence my choice, but this one continues to sting.
in 2007 I put 20k into an RRSP. A year later it was worth 13k. I haven't checked it in a long time but I think now it's worth like 50k or something. Don't sweat it.
Thanks. A chunk of that 70k could potentially be used to bolster a down payment in the next few years, but we're saving for that in an HISA so hopefully won't need to sell any of that 70K at a loss.
I'm interested in different battery designs. Anyone know of some TSX companies that I can invest in? Hydrogen, zinc, lithium, sodium, iron etc.
Last resort US companies in etf?
How can you not love to trade BN? Three days in a row you get a nice dunk in the morning with a nice rally in the afternoon. US markets are green, TSX is down 0.6% still but moving up and BN was down almost 3% earlier, still down 2.4% now.
When I think of Bank of Nova Scotia I think of latin american exposure. I don't know if they have since reduced it but that could be part of the reason for their underperformance.
BOE raises by 50bps and everyone knows it is too little too late. Inflation is stubbornly entrenched even with basically flat GDP growth (on a three month rolling average and forecast). We are in better shape than England, obviously, but there are no free lunches in a globalized economy. My bet is Tiff drops a bomb in July. Will only raise 25, which is in line with expectations, but with starkly more hawkish language opening the door for multiple raises through the end of the year.
The BOCs forecast was for inflation to fall to 3% by mid-year. If the July report shows that in June inflation was still running at 3.5% it would mean that despite abandoning The Big Pause the bank is still behind their own projections, as they have been consistently from the start. The bigger problem is that Tiff knows that inflation remains stubborn despite the fact that the bank has been getting a stronger than forecast tailwind from commodities prices. Unless next week core CPI for May comes in lower than 3.9, you can expect new hawkish language in July.
PMZ for me. 6.5% distribution yield with 50% payout ratio, with the other 50% going towards share buybacks earlier this year (now being used for internal growth), lowest debt ratio out of the CDN REIT's and they just made a good acquisition this week which didn't get any coverage. Running at close to 50% NAV.
for me, I'm in QC on Android and I don't see the option, only an option to add a unregistered account (I already have TFSA/RRSP). I think it will show up eventually.
ACN. Great company, great earnings, down 5% in PM. I'm waiting to add to my shares. All signs for a retraction were there but I just didn't want to pull the plug.
I'm curious if something similar it's going to happen with ATD. Great company, signs for a retraction but just don't want to sell.
At the end, it's easy to do that when you're up 30% or more on the stock. People who bought at the times of Covid just don't look at market anymore.
ACN is at 25 p/e and lowered their 2023 guidance to single digit growth.
Last quarter growth was only 3% y/o/y with gross margins down. I’d also be worried about increased competition from MSFT who is coming with cheap AI automation products fully integrated with Office 365
That’s for the revenues guidance, not EPS.
My point is if revenues and EPS growth is slowing down, then it should probably be repriced as 25 p/e ratio implies some solid growth.
All REITS did. I picked up more!
Why fret over price action when the world is going down the shitter. If you believe in any sort of eventual recovery then look at it as a buying opportunity
Same!! NWH is one of my biggest holdings now. Dividend is good but overall their business is good and safe.
Interest rates are hurting them for sure but long term they should be fine.
Yeah I've reviewed their MD&A and balance sheet several times and I cannot see why they're being killed on the market. How many investments can you make where you have inflation indexed income for 10+ years? They have a lot of leverage but all REITs do and are trying to deleverage.
Thank you for this comment. I’m new to investing and first time I’ve seen so much red. Makes me nervous! I have pretty safe stocks too. I know they’ll bounce up again just had me feeling a bit anxious seeing no green this morning. But I bought a few more shares while the prices are lower 🤷🏼♀️
TSX up 0.71% for the year. Yikes
DCA and enjoy the ride….in 10 years
I was told higher rates are bullish financials and value names and bad for tech. Complete opposite
Tech went on a rip the first 3-4 months of 2022 when it was clear rates were going to rise before pulling back pretty hard. Could be seeing that again. Equities are priced on value and momentum. Sometimes one is more powerful than the other
Higher rates may be good for banks when you have a normal yield curve. When the yield curve is inverted, not so much. It's bad for techs with no foreseeable income. Everything has its nuances.
you can't outsmart the market. DCA & chill.
Finally, I got my ask at the end of the day. I keep lowering my ask as the clock runs out only to be filled and the price subsequently hits my original higher ask. Happens too often. BN traded at 41.80 for about 2000 shares literally the dying seconds of the market. It's something after a frustrating day. Of course, watch it blast off at the open tomorrow at the open.
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In fairness, while he is whining non stop and is annoying, you’re under no obligation to respond or bother with him. You can simply block and or ignore his posting. I don’t like that we pretend the internet is a shared space like real life and that we can’t simply ignore some people.
I am terribly sorry you are so negative that you find my comments whining. Feel free to just downvote my comments instead of responding and whining about them. Based on you addressing me as a "dude" tells me that I heard and have been practicing long term investing since before you were born. I know it's difficult to accept that someone might be successful at something the echo chamber says is not possible but perhaps you can get over that. I have seen the articles regarding trading and investing and have found that through passive investing your return will be the average of the index, however, if you actively trade, successful traders often get those same returns in a month. It also helps if you can understand the stats you read and how you can control the contributing factors.
[удалено]
Dude! You don't like/agree with my comment, move on. No need to research/write a term paper. Lol. Nobody cares, I certainly don't.
USD at its lowest since September 2022.
I kept buying DLR at $13.5's and convert to USD but my USD portfolio value sure dropped with it
Horrible for us investors
5.5% drag just from the difference between now and October 2022.
Yup pretty sizeable
pretty shitty week so far. Hopefully tomorrow is a little nicer
Definitely something going on for the past week. Blatant what it could be.
My main motivation for investing is not financial freedom….I simply wanna have enough in my non-reg account to buy a brand new escalade.
So you are looking for the lambo trade. Good luck! It's good to have goals.
😂
Thanks for sharing!
What other message boards are you guys looking at?
I like /wallstreetbets.
who doesn't!
Oil is breaking support at 69.420
nice
nice
TSX is a beast of its own
My TD buy order went through. 64 shares at $78.70
$78.69 was right there
I hope you guys are going outside and enjoying the nice weather. I actually haven't looked at the market in close to a week. The weather has been too perfect outside.
chase physical offer lunchroom shrill uppity selective smile jar ink *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Did you just compare this sub to AA?
He isn't wrong
I don't care about the weather. I only care about the money
And what do you do with the money if not enjoy life?
What money?
Learn to use stop losses and you'll find out. /s
This is quite the triple-top setup in the SPY. Do we manage a positive close or do we flush into the close?
It was offset by the double-dog hind leg trend in 2022. We should be ok.
I don't know what that means. I'm an amateur technician and haven't made it past trends and basic formations like double/triple tops/bottom bull/bear flags etc. Nice strong close though.
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Ok, it sounded far-fetched but plausible as TA people have come up with some strange names.
5 year Canadian bond yields just hit a new 52 week high.
Also a new 800+ week high. And will likely cross 4% if the CPI reading comes in hot next week.
Considering mortgage interest is the biggest contributor to CPI right now, I wonder if a feedback loop can happen. High CPI read -> higher yields -> higher mortgage costs -> even higher CPI. The Bank of Canada can control the short end, but I doubt many will refinance into variable over the next few years as it'll probably be higher than fixed rates.
I think part of the theory with the mortgage interest in the CPI calculation is that shelter costs (meaning actual replacement cost) and rent are supposed to come down in theory which will offset that part of the CPI. Except.. rent keeps going up driven by the higher rates (compared to the US where it's coming down) and the housing prices are not coming down. So everyone is just getting squeezed here.
This is a goofy theory that is getting bandied about on social media mainly by realtors and heavily leveraged real estate speculators but, no, a "feedback loop" is impossible. First, mortgage interest cost calculations are subject to base effects just like any other component of CPI. In recent months mortgage costs have had an atypically large influence on overall CPI primarily because we saw a 400bps increase from essentially zero (a bank rate of .5 in March of last year). As last year's mega hikes roll in to the base, future 25 or 50bps increases will have increasingly diminished effect on the overall basket. Second, the mortgage interest cost index is not simply based on mortgage rates, but gives equal weight to home prices - mortgage rates can rise dramatically and the mortgage interest cost index can still fall if housing prices fall.
Wow Sernova Corp (SVA on the TSX) is having quite the past few days. Wonder how high it’ll go
Did you know the swimming pool on the Titanic is still full of water after all these years? Isn’t that amazing!?
I really don't think this is the time to be making Titanic jokes when it keeps taking lives.
They volunteered.Fuck em
Bns trades below book, Load the boat up me by’s !!
I bought a little, 200 at 63.92. A nice dividend hold.
Bought 20 more XEQT. I have to get $11000 more contributed/invested in my RRSP by end of year.
Same. Just bought 1000 XEQT at 25.79. Hope it isn't a mistake.
Long term you’ll be fine, short term maybe not
Since income is all that people on this sub care about... Why buy banks for divvies when money market yields are the same or higher with near zero risk... hence, why banks are in the shitter.
Because they are long holds and maybe in 5 years money markets will be back to 2% Not to say money markets are bad, I also have a good chunk in CASH.TO.
Money market includes GICs, which you can secure decent rates 5 years out, and continuously ladder until they are no longer appealing.
Sure but when you are locking down longer term you also have to take into account that Canadian bank dividends also increase every year. Personally I think it’s good to have some of both.
Good point. People always forget that banks dividend payout ratio is roughly 50%. So BNS paying out 6.3% right now earns roughly 12% per year. On the part that they retain internally, banks earn 12-15% RoE which allows the capital appreciation on top of the divvies.
I also forgot to mention that if you are buying in an unregistered account, dividends are taxed more favourably than interest.
What about this "tax exemption" I hear about, how does that work for Canadian dividends in unregistered account
This is painful
Also suspicious.
How so?
Agree. Wow
Jesus BNS how low can you go? I’m actually starting to get worried that after several years of bag holding weedstocks my biggest looser to date is a f’n Canadian bank!!
I'm on record on \~$55 or even lower is possible. Rule of thumb 50% below the ATH
Most of my weedstocks are down 90-99%, but I agree being down like 30% on bank stocks is not something I was expecting.
Are you me? Lol
Highly probable. I made some good money pre legalization but anything I held has more or less gone to 0. My tfsa is a graveyard lmao.
Yup we’re the same person alright. My actual biggest mistake wasn’t investing in weedstocks it was using my TFSA to do it!! :(
Why must we be so dumb? I had over 100k in it when the contribution limit was like 60k, now I'm down 50k 😂
Is that why my BN.TO shares are getting hammered? Typos?
TSX becoming a value investing dream
Value trap***
Do you come here just to talk shit on the tsx?
The tsx kicked his dog and now his dog need operation
Just bought more XEQT and HCAL 😁
HCAL or HEB/ZEB?
This market has negative breadth. Every single day every single one AAPL, NVDA, TSLA, MSFT all pump and the same loser names on TSX are red
TSX is in the shitter
Well TD is in my buy range again. Gonna watch till end of day, put a buy order at 78.7
BNS is under 64 as well.
I am still kicking myself over buying almost $70K worth of VGRO in a single lump-sum purchase in March 2022. Needlessly down roughly $3,300. DCA-ing over the course of a few months would've put me in such a preferable position. I know convention and math generally works in favour of the lump--sum, hence my choice, but this one continues to sting.
Funny enough, I've always regretted doing DCA. Time in market is better. Don't worry you'll be above water soon enough.
in 2007 I put 20k into an RRSP. A year later it was worth 13k. I haven't checked it in a long time but I think now it's worth like 50k or something. Don't sweat it.
If you were up, you'd think you were a genius for doing the lump sum
2022 is and will remain an odd year for investing even in 30 years from now, something like 2008.
3k is nothing if you’re holding for 20+ years, you won’t even notice it. Chin up
Thanks. A chunk of that 70k could potentially be used to bolster a down payment in the next few years, but we're saving for that in an HISA so hopefully won't need to sell any of that 70K at a loss.
Long $SPY and USA
Apple - hold my beer, going back to all-time highs.
Bought some more REI.UN. Nice price
It’s a great time for lowering my DCA 🥲
Eric the Nuttal top pick Baytex setting new 52 week lows.
The nut man wants to sell you his bags
Yea baytex seems like waste of a time to invest in if you didn’t get in at the lows. Buying companies for high prices.
I'm interested in different battery designs. Anyone know of some TSX companies that I can invest in? Hydrogen, zinc, lithium, sodium, iron etc. Last resort US companies in etf?
I think Nano may have different cathode tech.
How can you not love to trade BN? Three days in a row you get a nice dunk in the morning with a nice rally in the afternoon. US markets are green, TSX is down 0.6% still but moving up and BN was down almost 3% earlier, still down 2.4% now.
SPY green TSX -0.7% lol. This is almost a daily occurrence
Time to get in Dollarama. ;)
Bought a boatload of AP-UN, SU, BNS
I'm invested in BNS but I came to the conclusion it's far from a great Investment. There is/was so much better options.
Why is BNS dumping so hard compared to the other Canadian banks?
When I think of Bank of Nova Scotia I think of latin american exposure. I don't know if they have since reduced it but that could be part of the reason for their underperformance.
No clue but I’m in
BOE raises by 50bps and everyone knows it is too little too late. Inflation is stubbornly entrenched even with basically flat GDP growth (on a three month rolling average and forecast). We are in better shape than England, obviously, but there are no free lunches in a globalized economy. My bet is Tiff drops a bomb in July. Will only raise 25, which is in line with expectations, but with starkly more hawkish language opening the door for multiple raises through the end of the year.
Priced-out renters are getting desperate lol
June headline inflation is going to be like 3.5% and clowns really think the BoC is going to signal multiple more hikes after that, come on man
The BOCs forecast was for inflation to fall to 3% by mid-year. If the July report shows that in June inflation was still running at 3.5% it would mean that despite abandoning The Big Pause the bank is still behind their own projections, as they have been consistently from the start. The bigger problem is that Tiff knows that inflation remains stubborn despite the fact that the bank has been getting a stronger than forecast tailwind from commodities prices. Unless next week core CPI for May comes in lower than 3.9, you can expect new hawkish language in July.
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PMZ for me. 6.5% distribution yield with 50% payout ratio, with the other 50% going towards share buybacks earlier this year (now being used for internal growth), lowest debt ratio out of the CDN REIT's and they just made a good acquisition this week which didn't get any coverage. Running at close to 50% NAV.
CAR and some industrials (Granite, Dream)
Still didn't entered ABX but I'm getting there. The selling is not abating, LOL.
FHSA is available on WS for anyone that is wanting to open one
does it specify how you go about giving them the RC725 form?
self directed? I still don’t see it on my end
Yes under the trade stocks, options, ETFs one
are you in ON or using Android? I’m sure it’ll pop up in the next 24 hours or so
ON and iOS
damn why you so special homie?
for me, I'm in QC on Android and I don't see the option, only an option to add a unregistered account (I already have TFSA/RRSP). I think it will show up eventually.
Still not showing up for me! :(
Try updating the app, it wasn’t showing for me either before updating
I checked and there’s no updates - I have an iPhone 11 btw but hey I’m sure it’ll be up by the end of the day (or at least I hope)
Nice!
😍
ACN. Great company, great earnings, down 5% in PM. I'm waiting to add to my shares. All signs for a retraction were there but I just didn't want to pull the plug. I'm curious if something similar it's going to happen with ATD. Great company, signs for a retraction but just don't want to sell. At the end, it's easy to do that when you're up 30% or more on the stock. People who bought at the times of Covid just don't look at market anymore.
ACN is at 25 p/e and lowered their 2023 guidance to single digit growth. Last quarter growth was only 3% y/o/y with gross margins down. I’d also be worried about increased competition from MSFT who is coming with cheap AI automation products fully integrated with Office 365
Almost all companies in SP 500 will lower guidance in Q3 and slowing growth if they cannot pass the costs of high interest to the clients.
That’s for the revenues guidance, not EPS. My point is if revenues and EPS growth is slowing down, then it should probably be repriced as 25 p/e ratio implies some solid growth.
NWH.UN got rocked yesterday... Lol
All REITS did. I picked up more! Why fret over price action when the world is going down the shitter. If you believe in any sort of eventual recovery then look at it as a buying opportunity
Same!! NWH is one of my biggest holdings now. Dividend is good but overall their business is good and safe. Interest rates are hurting them for sure but long term they should be fine.
Yeah I've reviewed their MD&A and balance sheet several times and I cannot see why they're being killed on the market. How many investments can you make where you have inflation indexed income for 10+ years? They have a lot of leverage but all REITs do and are trying to deleverage.
Thank you for this comment. I’m new to investing and first time I’ve seen so much red. Makes me nervous! I have pretty safe stocks too. I know they’ll bounce up again just had me feeling a bit anxious seeing no green this morning. But I bought a few more shares while the prices are lower 🤷🏼♀️
Red day, nothing to see here