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Posts Tagged ‘stocks’

On March 15, 2012, I wrote the article, Shades of Y2K — Gary North’s bogus Apple prediction, about Gary North’s bogus October 11, 2011 prediction that:

Apple’s relentless descent to earth is inevitable. I can prove it in 15 words.”

“There is no one to follow him. There will never be another Steve Jobs at Apple.

In my March 15, 2012 article, I had wrote:

The closing price on Apple shares the day before his article was $388.81 USD per share.

As of March 15, 2012, in anticipation of the new iPad 3, Apple shares traded at over $600 per share — a 54% increase in just five months since his bogus prediction.

Now, on January 26, 2015, what had been a bogus prediction is now an outrageously stupid prediction, with Apple shares having traded on the previous Friday at $112.98, with a 7-1 stock split value of $790.86, a 103% increase over its October 2011 value.

Yet, Gary North continues to get paid subscribers and continues to get published on LewRockwell.com, showing that it’s not about ability, but consistent writing and being connected.

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Ludwig von Mises Institute

Upon discovering that the Ludwig von Mises Institute is a government-sanctioned and regulated tax-free 501(3)(c) organization, I looked for their publicly-available IRS disclosures.

Their latest complete tax-exempt filing available as of February 14, 2011, is for 2007.

Despite their talk of monetary inflation being bad in all cases, they owned $4 million in U.S. Treasury Bonds in 2007 (see page 17 of the PDF), which they all sold the very same year the subprime housing bubble burst.

It also shows that they owned a total of $291,164 in 32 other securities, with their biggest holdings being in PetroChina and Royal Caribbean, which they all sold at a loss in the same year, with the exception of their Allete Inc., News Corp, Buckeye Partners and AT&T shares.

It is quite possible that most, if not all, of these stocks were gifted by donors. Yet, it is an interesting portfolio for what it does and does not contain.

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The Big Five Canadian banks and their stocks: Royal Bank of Canada (RY), Toronto-Dominion (TD), Bank of Nova Scotia (BNS), Bank of Montreal (BMO) and Canadian Imperial Bank of Commerce (CM), have been paying common dividends since the 1800s.

BMO, Scotiabank, TD, CIBC, and RBC haven’t missed paying dividends on common shares since 1829, 1832, 1857, 1868, and 1870, respectively.

That is, through WWI, WWII, the Great Depression, all the U.S. and international financial crises, and with and without a central bank.

As of June 30, 2010 prices on the NYSE, their annual dividends are:
RY 3.80%, TD 3.40%, BNS 3.90%, BMO 4.70%, CM 4.90%

Whereas the big five U.S. banks (JP Morgan, Bank of America, Wells Fargo, Citigroup and Goldman Sachs)  are only paying:
JPM 0.50%, BAC 0.30%, WFC 0.70%, C 0%, GS 1.00%

They are also listed on the Toronto Stock Exchange, so you can buy in Canadian dollars to hedge against a declining USD, when appropriate.

In February 2009, I wrote how the Big Five Canadian banks were on pace to dwarf the five biggest U.S. banks, with the the five biggest U.S. banks having twice the market capitalization of the five biggest Canadian banks, despite the U.S. economy being nine times the size of the Canadian economy.

As of the end of June 2010, the five biggest U.S. banks are still less than three times the market capitalization of the five biggest Canadian banks.

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Previously, I wrote  how Scotia iTRADE lets you buy stocks with a negative cash balance, and how they charge more for Canadian equity trades than U.S. equities.

They also let you sell the exact same shares on the same day you bought them, before the settlement date of your acquisition.

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Scotia iTRADE, formerly E*TRADE Canada, is a Canadian subsidiary of the Canadian public corporation, the Bank of Nova Scotia.

You’d think that being a Canadian company, it would be no more expensive to trade stocks on Canadian exchanges than U.S. exchanges.

However, as their pricing chart shows, if you have combined assets of less than $50,000 CAD and you made fewer than 30 trades in the past quarter, their commission for Canadian equities over $1.00 is $19.99 CAD, up to 1000 shares, and two cents per share thereafter. For U.S. equities, it’s $19.99 regardless of the amount of shares purchased.

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The daily list of halted trading in securities on the Toronto Stock Exchange.

Here’s an example of trading in one stock halted by request of the company, pending news.

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Remember the adage, “It takes money to make money?” It actually doesn’t, with ScotiaiTRADE. It does, however, take a positive portfolio value greater or equal to the price of your intended stock purchase.

They allow you to purchase stock without having the actual money, so long as it’s there by the time your stock purchase settles, usually three days later.

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