In addition, Pat thinks then beginner investors should cultivate two important qualities: a healthy sense of skepticism and patience.
Investors should approach all investments with a healthy sense of skepticism. This can help keep you out of fraudulent stocks that masquerade as high-quality stocks. It will also keep you out of legally operated, but poorly managed, companies that promise more than they can possibly deliver.
If you are a new investor, you should also realize that losing patience can cause you to sell your best choices right before a big rise. All too often, investors buy a promising stock just as it enters a period of price stagnation. Even the best-performing stocks run into these unpredictable phases from time to time. They move mainly sideways in a wide range for months or years before their next big rise begins. (Stock brokers often refer to these stocks as “dead money.”)
If you lack patience, you run a big risk of selling your best choices in the midst of one of these phases, prior to the next big move upward. If you lose patience and sell, you are particularly likely to do so in the low end of the trading range, when stock prices have weakened and confidence in the stock has waned.
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In our experience, a time-share investment rarely provides you with any real advantage.
If you visit a vacation resort this winter, you may get invited to a complimentary dinner, cocktail party or other event. In return for the free drinks, food or entertainment, all you’ll have to do is sit through a pitch for an “investment” in a time-share. It may be worthwhile to attend, depending on what else you have to do. But in my experience, a time-share investment rarely provides you with any real advantage.
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These financial assets include 69.5% of Great-West Lifeco, one of Canada’s largest life insurers, and 58.7% of IGM Financial, a leading Canadian mutual fund provider.
As well, Power Financial owns 50% of holding company Parjointco, which holds a 55.5% stake in Switzerland-listed Pargesa Holdings SA. Pargesa has 95% of its assets in five large European firms. Power Corp. also has interests in Asia.
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In the three months ended March 31, 2015, Peyto’s cash flow fell 10.5%, to $0.94 a share from $1.05 a year ago. It raised its production by 13.0%, but that was offset by lower gas prices.
Like Bonavista, Peyto is cutting its spending this year. Its outlays will now total $560 million to $600 million, down from $690 million in 2014.
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