Canabros, I really enjoy /smg/ - but, for those of us with limited American exposure there is not enough content. I propose a few topics for discussion herein.
USD Investment >Is having a USD Investment account worth the initial currency exchange? >What percentage of a portfolio are people carrying as US stocks?
These two groups I would buy during the Valley of the Vancouver Virus and sell at the peak of the market: >Consumer disc.: DOL, GC, TSGI, PBL, GWO, GSY, FFH >WuFlu victims: CAE, MAL, WJA, BBD, AC, CHR
>high dividends >posts stocks with low dividends why did you do this?
Adam Richardson
I posted stocks with dividends 10+ years, good dividend ratios and 3-7% yields. In the case of CU and FTS they have provided dividends for 45+ years consecutively. AD and SES are pumping massive yields 20%+ but, they're going cash broke doing it and you can see that based on their P/E.
Samuel Nguyen
>Is having a USD Investment account worth the initial currency exchange?
absolutely
>What percentage of a portfolio are people carrying as US stocks?
my wife and I contribute to our rrsps via wealthsimple and I think their allocation is somewhere in the 30-40% range. I've read a few things on this topic but generally it's a good idea to have exposure to each country that's proportional to their gdp, but you should always compensate a bit to have some bias towards your home currency. So Canada doesn't contribute 10% to the world economy but you may still want 10% or 20% of Canadian stocks.
Anyways in my TFSA and day trading accounts I don't care about my exposure and just buy low sell high no matter what country.
Nathan Ward
>Wealthsimple >day trading accounts
I am very curious why you use Wealth Simple if you're actively day trading - especially U.S. markets. Interactive Brokers appears vastly superior.
Gavin Harris
TD cuck here. Was short til the other week. Now Holding TD, ENB, hmmj, HEP. I have another few k in a 2.8% simplii high interest account that is ready to buy a further dip. Shit is too crazy atm to be heavy long or short. I do think that heading into US stocks to mitigate a further drop in CAD/USD would be okay but I am currently paid in USD atm so not too worried about that factor
Alexander Bailey
I really want to throw my savings into a long term investment account.. I just don't know if I'm better off with a TFSA or a regular margin account. I want blue chip American stocks, would a TFSA be good for that?
Chase Gomez
oh sorry, I only use wealth simple for their passive roboadvisor rrsps and savings accounts, their trading platform sucks for US accounts
I do active trading with investorline
Jaxson Ross
you can't day trade in a TFSA so it is good for bluechips you want to hold, but you'll be hit by a 15% foreign witholding tax on dividend gains. If you want to avoid that and your plan is to just hold long term use an RRSP
Jose Robinson
Gonna take note of that, thanks user. Also, whats a good broker for a beginner? Looking at questtrade, based on a few articles, but idk
Nolan Davis
If you're longing, banks are decent (CIBC has lowest fee I believe). If you're looking to day-trade Interactive Brokers looks good.
The user you asked mentioned here: >I do active trading with investorline
Isaiah Bennett
Is there a Canadian sqqq equivalent? Its retarded paying 9.99 usd broker fees to buy or sell TT
Caleb Perry
Thanks user, take a bump, wish a canadian general could stay active
Logan James
FYI it's more tax efficient to hold US stocks in RRSP because your dividends don't get withholding tax applied to them.
Trading Canadian stocks with a taxable account is more tax efficient.
William Hall
Market is only going up because it's Passover. V-shaped recovery is a meme, and remember that this is going to be a week that will live on in infamy. Worse than pearl harbor and nine-eleven combined.
How do rrsps work if I max my TFSA? my goal is buying a house in a few years to retirement besides my pension plan is not exactly a goal. But Can I still use it to pay less tax on short term investment? you can't daytrade in a TFSA says who?
Luis Powell
Unless you are high income and already have a pension plan, I would highly discourage you from using your RRSP for a downpayment. If you max your TFSA with non-RRSP investments, your RRSPs still do not lose anything to tax until a point at which you draw from them in retirement. Think of an RRSP as a method to defer paying taxes.
Jose Evans
stuff in your TFSA can grow tax free
when you put money in your RRSP it reduces your taxable income for the current tax year, but you get taxed on any amount you take out. That's why it's used for retirement, you reduce your effective income tax today while you're earning good money and pay a much lower tax when you take the money out for retirement and have no employment income (you'll be in a lower tax bracket at retirement).
You can use up to 35K from your rrsp to buy a house, but you have to pay it back over 15 years I think. It's not taxed for this purpose.
>says who? the CRA
Jace Hughes
oh right. RRSP works as by taxing you at your lower marginal rate because you have lower income as a retiree. Not actually saving tax. Yeah that'd be dumb if my salary will only (hopefully) go up. Capital gains it is
Juan Diaz
the CRA might say you were operating a trading business from the TFSA if you were day-trading and therefore send you a tax bill. However, they only do this if you made a shit load of money. No one is going to come after you for a few thousand in capital gains but if you make hundreds of thousands then they might come after you.
Ryder Bell
I'm done being bearish, can't fight against (((them))). crazy how nothing has changed and markets are still being propped up, taxpayers will most likely pay for the damage done by the feds anyway. fuck this.
Joseph Miller
>Is having a USD Investment account worth the initial currency exchange?' Yes. Canadian stocks are as fucked as our economy. If you want real long term profits US ones are the only option.
Dominic Lee
I got into BEP a little over a year ago. Turned out to be a good buy.
>How do rrsps work if I max my TFSA? my goal is buying a house in a few years to retirement besides my pension plan is not exactly a goal. But Can I still use it to pay less tax on short term investment? You can get a long-term zero interest loan against your RRSP for I think about 20-30k if it's your first time home purchase. You don't need to take anything out although they also have a program to let you do that too if it's to buy a house.
>you can't daytrade in a TFSA If you want to actively trade in a tax shelter use your RRSP because the government rarely if ever enforces it's active trading rules on RRSP accounts (because the money that's withdrawn gets taxed on withdrawl). TFSA are a lot more subject to scrutiny because it's after-tax money that's not subject to capital gains or income tax. You can have your TFSA audited if you have a lot of money in the account even if you're not actively trading.
Based biden, elder care facility stonks will be through the fucking roof in 2021 thanks to all the free media.
Cameron Robinson
Yes.
Sebastian Price
True enough, it did align with RSI for that call but it's generally leading instead of lagging like RSI.
Wyatt Wood
I've been buing up AC, CVE, and PPL
This morning AC announced the re-hiring of 16,000 workers. This is why AC is soaring today. I bought in at $14.34, and now considering just taking my profits and waiting for another dip.
CVE sky rocketed on the news of the OPEC meeting, I bought in here at 3.27, not sure how the OPEC meeting is going to work out yet.
PPL is just a solid stock to hold in general. Pipelines are usually always strong investments, and one of the few safe buys currently.
Noah Brooks
Health insurance companies are no longer worrying about being nationalized
Aaron Stewart
OP is a master hijacker
Real thread >
Eli Parker
Remember how they stopped masks from entering Canada?
expenses at ib vs questrade are virtually identical except options, where ib clearly wins if your trade volume is exactly between A and B. WST is the only good options, mostly because canadians are ridiculously penalized on anything fun and profitable, such as US stocks and most kinds of options. Day trading is considered "business income" and not capital gain as well. Also, I don't see how the CAD can possibly get any lower, so I think now is about the worst time in history to invest into US stocks anyway. When CAD goes >0.8, then it's totally worth it, since CAD trends downwards overall (no fucking question why with the absolute fucking state of this corrupt shithole).
>high dividends I recommend the following:
Misc: T (Telus) BYD
Financial: RY BNS POW
Utilities; CNQ ENB
Oil (logistics): IPL PPL
SPB could also be good but I have a bad feeling about them.
For stock gains, I like KL (gold), otherwise basically just the obvious.
Justin Hall
You can't use wealthsimple to daytrade, they have 15m delayed data only and orders are a bit delayed. Last I checked they didn't even have stops. For US markets it's even worse since you pay >3% on a profitable trade.
Brayden Edwards
>says who The fucking government. Prepare for the assrape of a lifetime.
Justin Foster
I'm hoping for a red day tomorrow to buy more stonks.
This is based on something that happened to a handful of people who were severely exploiting the system. 99% of people will never generate enough in their TFSA to raise a flag, and RRSPs are for chumps.
Brody Fisher
RY now or wait?
Landon Morales
You don't lift a quarantine as soon as you get few cases. You lift it months later and very slowly, step by step. You also typically wait to have an extremely low new cases rate, much lower than implied on that graph.
Caleb Martinez
All financial institutions are, in my estimation, completely safe buys right now. But I am one of those who don't believe we've reached the bottom yet. Also I expect the long-term financial impact of corona in canada to be significantly higher than anywhere else in the world.
>CAD>0.8 that is not going to happen in the foreseeable future. Its a race to the bottom for all developed nations. Gotta sell those exports as cheap as possible! If you do convert. Do Norbits Gambit to save on conversion fees
Jaxon Fisher
Great feedback, user - I appreciate it. With Financials, specifically RY and BNS, have you noticed a steep decline in dividend offerings during recession (2008 was before my investment time)? I like energy and utilities precisely because they are less affected and can still maintain dividends (if at lower yields)
Dylan Reed
>believing anything that comes out of china Leafbro, I ...
>that is not going to happen in the foreseeable future That's exactly what I'm saying. >Do Norbits Gambit to save on conversion fees Norbert's gambit is not viable except at ibrk, everyone else charges higher per trade than conversion rates unless you're operating on many millions.
Charles Howard
China went as far as to weld people into their commieblocks, AND still had to lie about their numbers, supposedly paying companies to turn everything on to make it look like they're operational to give the illusion that everything is fine. Chances of a second wave are pretty high, yet still nowhere near as high as in the rest of the world where quarantines are only loosely enforced (e.g. except italy and co.)
Ryder Robinson
Also fellow canucks, if you’re investing in US index funds look for a currency neutral/currency hedged one because our dollar is toilet paper right now. If it appreciates with a rise in oil price you don’t lose your gains priced in USD. Once it’s close to parity again, switch to a non-hedged index so when it drops again you get an easy 25%+
Worked for me at Questrade. It offers commission free ETF purchases.
Thomas Wood
I started in 2010 so I don't know, but they haven't been slashing dividends so far and I hear through the grapevine that they're usually resistant to things like these. As you say, energy and utility (and other inelastic and non-fungible choices like some telecoms) are great choices because not only they have good dividend yields, and they're always in demand regardless of what's happening. They'll never go under either.
Dominic Kelly
But you have to pay to sell it, which is the same rate as stocks. Thus still paying $4.95 (if you norbert an extremely small balance) or more realistically $9.95 flat.
Asher Gomez
Welp I finally made my first million bros. It wasnt easy but the hardest part is over. We're all going to make it
