Thursday, October 6, 2016

Money Show 2016 - Rob Carrick

Rob Carrick was also part of the opening Ceremonies. His talk was entitled "Stop Making These Investment Mistakes". Rob Carrick is a Columnist with the Globe and Mail. He says that over the past 18 years he has received some 17,680 emails.

First, do not invest in any product in residential real estate. Commercial real estate is fine, that is in offices, mails or towers.

It is always a mistake to get sucked in my high yields in any investment including bonds. High yields will always mean high risk.

Do not think that dividend stock is the answer to everything. When interest rates rise some will suffer. This includes utilities and consumer discretionary stock. Also do not have a bank heavy portfolio. Banks can also get into trouble.

You should diversity. Do not go all into one thing. Do not go all in, in what is working in your portfolio. This is bad for the long term.

Do not think that you must be on the right side of the Canadian dollar. That is a rising Canadian dollar. Do not go in and out of hedging. You cannot tell where the dollar will go.

It is a mistake to think that financial planning and investing is the same thing. Investing advice does not include financial planning.

Do not obsess about fees. Think about what you are getting for your money. Sometimes high fees are efficient and sometimes they are not.

Do not try to time the market. Making a decision to get out of the market is much easier than getting back in. Buying at the low point is hard because the market can be bleak. The right portfolio is one to keep through all times. If you feel that you have to bail out of your portfolio, then you have the wrong portfolio.

Do not get out of Bonds. Government bonds have low interest rates but they will not default. They do not become riskier when interest rates rise. They are a defensive play, not an income play.

Do not take too much of a short term outlook. Do not check your portfolio daily. You will only make yourself crazy if you do this.

On my other blog I wrote yesterday about Le Chateau Inc. (TSX-CTU.A, OTC-LCUAF)... learn more. Tomorrow, I will write about K-Bro Linen Inc. (TSX-KBL, OTC-KBRLF)... learn more on Friday, October 7, 2016 date around 5 pm.

This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter.

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