stock exchange
Tax-loss selling (or tax-loss harvesting) is a strategy for lowering your Canadian capital gains tax that involves selling a security at a loss in order to offset your capital gains. You can then deduct these losses against your taxable capital gains in the current tax year. For example, December 24 is the 2009 deadline for tax-loss selling on the Toronto Stock Exchange. If you sell at a loss on or before that date, you could deduct your loss against your 2009 capital gains. However, you can also carry your loss back for the three previous years (2008, 2007 and 2006), or carry it forward indefinitely to offset past or future capital gains.
Beware of the “superficial loss rule” when using tax-loss selling to lower your Canadian capital gains tax
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During the 1990s, many investors held to a fixed idea that global stock market equities would be more profitable than North American stocks. This was especially true, so they claimed, of companies based in China, India and other emerging markets. We advised our readers to resist investing heavily in emerging markets during those years. Instead, we recommended that investors look to their U.S. holdings, and the buys we recommended in Wall Street Stock Forecaster, for overseas exposure. U.S. blue-chip stocks operate in many countries. And we felt that the domestic U.S. market offered opportunities that simply weren’t available in Canada. In the end, this advice paid off handsomely for our readers....
CANADIAN PACIFIC RAILWAY LTD. $53 (Toronto symbol CP; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 168.1 million; Market cap: $8.9 billion; Price-to-sales ratio: 1.4; SI Rating: Above Average)...
SINGAPORE FUND $11.65 (New York symbol SGF; Shares outstanding: 9.5 million; Market cap: $110.7 million; CWA Rating: Aggressive) is fully invested in Singapore-based stocks. The Development Bank of Singapore manages the fund. Singapore relies on exports for much of its growth. Major markets, like the U.S., China and Japan, are important to its economy. As these markets recover, Singapore’s prospects should improve. The $106.5-million Singapore Fund’s top holdings are: Singapore Telecom, 12.8%; United Overseas Bank, 9.8%; Overseas-Chinese Banking, 8.8%; Jardine Matheson (various industries), 5.2%; Hong Kong Land Holdings (property), 4.9%; Singapore Exchange (Singapore stock exchange), 4.4%; Wilmar International (agribusiness), 4.2%; Keppel (various industries), 3.7%; Capitaland (property), 3.6%; and City Developments (property), 3.5%....
Around the world, governments have increased spending in a bid to counter the recession. These efforts are now starting to show results. Global economic growth is resuming, and top-quality foreign stocks have rebounded. Here are four closed-end funds that trade on the New York exchange at discounts to their net asset values. All four funds have risen lately, but we still see them as buys. SWISS HELVETIA FUND $11.09 (New York symbol SWZ; Shares outstanding: 32.5 million; Market cap: $360.4 million; CWA Rating: Conservative) mainly invests in large-capitalization Swiss stocks. Hottinger Group, which dates back to 1786, manages the fund....
China Life Insurance (ADR), $64.27, symbol LFC on New York, (Shares outstanding: 496.1 million; Market cap: $31.9 billion) sells annuity products and life insurance to individuals and groups in China. It offers individual and group life insurance, accident, and health insurance. China Life is China’s largest life insurer with about 41% of the country’s life insurance market. In addition to life insurance, the company provides asset management services and health and accident insurance. China Life has over 102 million individual and group life policies and annuities, and long-term health insurance policies in force. It also provides both individual and group accident and short-term health insurance policies, as well as services. China Life has over 15,000 field offices and approximately 716,000 agents. China Life was established in 1949 as the People’s Insurance Company of China. The company became a for-profit company in a 2003 restructuring. China Life was listed on the New York and Hong Kong stock exchanges in 2003 and the Shanghai stock exchange in 2007. Chinese government-owned China Life Insurance (Group) Co. holds 72% of the shares of China Life....
HEWLETT-PACKARD CO., $44.78, New York symbol HPQ, reported revenue of $27.5 billion in its third quarter, which ended July 31, 2009. That’s down 2.1% from $28 billion a year earlier. The revenue drop came despite Hewlett’s $13.9-billion purchase of Electronic Data Systems (EDS) in August 2008. Thanks to EDS, revenue at Hewlett’s computer-services business jumped 93% in the latest quarter, to $8.5 billion, or 31% of total revenue. However, this was more than offset by lower sales of computers, printers and software. Hewlett continues to cut its costs in response to the slow sales. As a result, earnings rose 1.0%, to $2.21 billion from $2.19 billion. Earnings per share rose 5.8%, to $0.91 from $0.86, on fewer outstanding shares. These figures exclude the cost of integrating EDS. On this basis, the latest earnings beat the consensus estimate of $0.90 a share....
Ivanhoe Mines, $9.50, symbol IVN on Toronto (Shares outstanding: 378.2 million; Market cap: $3.6 billion), is an international mining company that focuses on the Asia-Pacific region. Ivanhoe’s main asset is its Oyu Tolgoi copper-and-gold project in southern Mongolia. Oyu Tolgoi, located about 80 kilometres north of the border with China, is one of the world’s largest undeveloped copper-gold deposits. Ivanhoe estimates the project contains 78.9 billion pounds of copper and 45.2 million ounces of gold. Ivanhoe also holds an 80% interest in Mongolian coal miner SouthGobi Energy Resources (symbol SGQ on Toronto), and 83% of Australian Stock Exchange-listed Ivanhoe Australia, which develops and explores for copper, gold and uranium. Ivanhoe Mines is also exploring for copper and gold deposits in China....
TMX Group Inc., $33.68, symbol X on Toronto (Shares outstanding: 74.3 million; Market cap: $2.5 billion), owns and operates Canada’s two national stock exchanges. The Toronto Stock Exchange lists senior equities and the TMX Venture Exchange lists junior equities. TMX Group also owns the Montreal Exchange, which specializes in derivatives. TMX Group also owns the NGX, an exchange for trading and clearing natural gas and electricity contracts. As well, TMX owns Shorcan Brokers, a fixed-income inter-dealer broker, and The Equicom Group, an investor-relations company. In 2000, the Toronto Stock Exchange became the first exchange in North America to become a for-profit corporation (known as TSX Inc.). In 2001, TSX bought the Vancouver Stock Exchange. The TSX Group first sold shares to the public at $9 (adjusted for a two-for-one split), and began trading on Toronto in November 2002....
JAPAN EQUITY FUND $4.79 (New York symbol JEQ; CWA Rating: Aggressive) mostly invests in large-capitalization stocks on the Tokyo Stock Exchange. The fund’s top holdings include: Toyota Motor, Mitsubishi UFJ Financial Group, Honda Motor, Sony Corp., Sumitomo Corp....