Comments on: Portfolio Update: Move Over, National Bank. Say Hello To TD.

By: SuperJogos - Todos os jogos da internet » Portfolio Update: Move Over, National Bank. Say Hello To TD.

Tue, 20 Nov 2007 22:44:08 +0000

[…] No es suficiente wrote an interesting post today!.Here’s a quick excerpt It’s a sad day yesterday as I eliminated my National Bank position after holding the stock for 21 months. Of course, it’s also one of the very first four stocks I purchased when I began my dividend-investing foray (the others were Power Financial, Bank of Nova Scotia and Saputo). While the sentimental value of National Bank made the sell button excruciating to press, I felt it was the right decision in light of NA’s large asset-backed commercial paper burden relative to its market capitalizat […]

By: White Eagle

White Eagle — Tue, 20 Nov 2007 23:15:57 +0000

According to https://www.canada.etrade.com/pages/home/secpro2.shtml:
“E*TRADE Canada Securities Corporation is a member of the Canadian Investor Protection Fund (CIPF), which protects client accounts in the unlikely event of financial failure. Under CIPF coverage, if a Canadian broker fails, CIPF funds are available to clients to make up for any shortfall in client assets that should have been maintained for the client up to C$1,000,000 for losses related to cash and securities balances in the client’s general accounts or separate accounts as defined by the CIPF policy. An explanatory brochure regarding CIPF coverage is available upon request or www.cipf.ca.
In addition, through our relationship with Penson Financial Services Canada Inc. as our carrying broker, E*TRADE Canada’s client securities may be protected by an excess securities insurance policy from Lloyd’s of London. This excess coverage may protect clients from net equity losses in client securities in excess of the CIPF limits up to a maximum of C$9,000,000 per client per separate account as determined by CIPF, subject to certain maximum aggregate insurance coverage limits applicable to Penson Financial Services Canada Inc. Details are available on request.”

so I’m not sure where you’re getting the E*TRADE “customers are only protected up to the first $100,000″ part (unless you’re talking about our American counterparts.

By: Financial Jungle Guy

Financial Jungle Guy — Tue, 20 Nov 2007 23:29:14 +0000

It’s the American counterparts. Sorry, I should’ve been more specific.

By: White Eagle

White Eagle — Tue, 20 Nov 2007 23:34:37 +0000

No problem.

I have my eye on TD as well.

By: Dave

Dave — Tue, 20 Nov 2007 23:38:27 +0000

Why don’t you change the article rather than leaving that highly inaccurate statement in there? You’re off by a factor of 10 and your “Half their customers are over that limit” is obviously wrong as a result.

By: Financial Jungle Guy

Financial Jungle Guy — Tue, 20 Nov 2007 23:59:46 +0000

We don’t know that. There was a confusion between E*Trade Canada and E*Trade Financial.

E*Trade Canada insures up to $1 million, but my article was targeting E*Trade Financial. Beside, I was only paraphrasing Sinclair Stewart and I did reference “E-Trade Financial” in my article.

By: Dividends4Life

Dividends4Life — Wed, 21 Nov 2007 00:24:17 +0000

FJG: I have to admit the fall of E*Trade was shocking. It ia a lesson not only for corporations, but for us small investors - know what you are investing in and limit your exposure!

Best Wishes,
D4L

By: Portfolio Update: Move Over, National Bank. Say Hello To TD. | Hedge Funds

Portfolio Update: Move Over, National Bank. Say Hello To TD. | Hedge Funds — Wed, 21 Nov 2007 01:14:08 +0000

[…] FINalternatives wrote an interesting post today onHere’s a quick excerptNot five months ago, two hedge funds asked - no, demanded - Ed Clark to get out of the way and let TD Ameritrade, the Toronto-Dominion… […]

By: moneygardener

moneygardener — Wed, 21 Nov 2007 01:36:58 +0000

Good trade IMO.

By: Loans » Blog Archive » Portfolio Update: Move Over, National Bank. Say Hello To TD.

Wed, 21 Nov 2007 02:23:19 +0000

[…] Read the rest of this great post here […]

By: FourPillars

FourPillars — Wed, 21 Nov 2007 02:24:02 +0000

I’m not crazy about NA because of one of the reasons you mentioned - they are mostly in Quebec. I’d rather buy any of the bigger banks because I think they are safer.

Mike

By: Financial Jungle Guy

Financial Jungle Guy — Wed, 21 Nov 2007 02:38:14 +0000

Wish I had done it earlier because I could’ve harvested the tax-loss to unload half of my Saputo holding when it was $57. I know. Hindsight is 20/20.

I won’t bother to write a blog post on this one, but I replaced my small position in SunLife with Manulife today. It’s a tax-free swap because I offset it with the NA losses. Nothing against SunLife, however. Surprisingly it outperformed Manulife since the original purchase.

By: thickenmywallet

thickenmywallet — Thu, 22 Nov 2007 03:05:44 +0000

I am a TD shareholder and was dead set against the E-Trade merger from the get-go. There is no pricing power in e-trading; its a commodity service and you are spending a lot of cash to get little in return.

NA- I think you hit the nail on the head; if you have no confidence in management then get out.

By: MillionDollarJourney

MillionDollarJourney — Fri, 23 Nov 2007 13:04:30 +0000

He’s taking Viagra to extend his reach into the United States

haha, awesome! Great article.

By: Online cash advisor

Online cash advisor — Wed, 28 Nov 2007 16:37:05 +0000

interesting post.

By: telly

telly — Thu, 29 Nov 2007 15:45:13 +0000

Your timing was impeccable.

By: moneygardener

moneygardener — Sat, 01 Dec 2007 05:10:35 +0000

Jungle - You are an amazing day trader…:). I’ll bet you are glad you did that. Well done with the timing…

By: Financial Jungle Guy

Financial Jungle Guy — Sat, 01 Dec 2007 08:33:21 +0000

Day trader and [Jungle Guy] don’t belong in the same sentence. Seriously, short-term results are just random, nothing more.

MG, I stole an astute motto from your blog, “I’ll only buy stocks that I would average down on.” This is a powerful test. If I can’t average down, then either it means the stock is no diamond in the rough, or I haven’t done my homework.

By: Dividends4Life

Dividends4Life — Sat, 01 Dec 2007 15:39:32 +0000

“I’ll only buy stocks that I would average down on.”

That really is a great quote!

Best Wishes,
D4L