A very big storm($$) is looming and it will be a long hard ride.

It's time to take this all into perspective . . .
 

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The World Health Organization (WHO) recently estimated: 'The Flu' kills between 290,000 to 650,000 people globally, each year ❗

Compared to those numbers, the COVID-19 Coronavirus is still just a small blip on the map.

Health.com Link 👉 https://www.health.com/condition/col...flu-every-year

Selkirk

Hey, hey, hey. Knock off the common sense crap. What good is a whole Zombie Apocalypse panic scenario if people start injecting common sense into the flippin discussion. :snapoutofit:
Can't move the markets on the common flu and the WHO will never squeeze $675 Million out of the world governments for it either.

I couldn't disagree more. I play the market swings, and have for 25 years, averaging around 30% return. If you don't know what you are doing, then yes,don't bother. I do know what I'm doing, and do well. Got very lucky getting in Aurora early and cashed out about 2 years ago. Got a 5x return in TFSA (no taxes for you turdoe!!!), then diversified into different funds, 32% last year. If you pay attention and know your stuff, can be very profitable.

I'll be back in when the DOW hits 24,000. Until then, it is about preserving capital, not looking for swings.

Yep, the WHO can play this for a couple billion $ more if the media just does it's part.....bonus money for all the execs.

RRSP are not tax FREE, they're tax DEFERRED. If you don't even know that basic information, there is absolutely no way I'll consider any financial advice you have to offer.

I’m not in any case a market guru but a very close friend of mine is working for the private investment firm under the wing of one of the biggest Canadian banks. He has a dozen or more of degrees and completed courses and rubs shoulders with the top investment funds managers in the world.... I have been following his advices and so far so good.
If you have that much time on your hands to analyze the market and be able to figure out the bottom and the top - you are the simply GENIUS! If you are - than good for you! Or you could’ve been lucky so far....

You are intentionally being dense or provocative. Stocks bought and sold in an RRSP neither attract capital gain or Loss when bought and sold nor are dividends earned in an RRSP taxed in the year they are earned. The only time you pay tax on an RRSP is when u withdraw the funds. Therefore, selling out your stock position completely in an RRSP has no tax consequences with respect to the capital gains captured. The one problem with capital gains earned in an RRSP is that you pay tax on 100% of the gain rather than on half like u would outside the RRSP. So yes, longterm it is only tax deferred but for the instances being discussed here they are in fact tax exempt.

In any event I really don't give a rat's azz if u take my advice or think I know what I am talking about. Anyone as artificial, and pointlessly argumentative as you are isn't someone who's opinion matters to me.

Not just deferred, you can actually pay less taxes , by withdrawing the money after you retire, when your income is lower. I am paying an average of 30% on that money, whereas I would have paid over 40% if I drew it while I was working.

Laughing! I hope no one takes yours.

And that’s why you gamble in your TFSA

If you have averaged 30% over the last 25 years, what the hell are you doing hanging around the AO forum ! You should be chasing Marlin on your yacht somewhere, I am not sure where the hotspot is in February.

lol no doubt. Or taking money from people to invest. Heck I will be the first to sign up with some proof! 30% return annually for 25 years would be insane. $1,000 investment would be worth $705,000. Keep that up for another 10 years and you are at $9.7 million.

Exactly, anyone that has averaged over 30% for 25 consecutive years, should be retired and living the good life.

Well, this hobby of ours ain't cheap, plus wife likes to spend, kids,etc, you know the drill. Wife just went back to work as kids are old enough now. Cabelas loves me too. Definitely closer to that mountain cabin though.

Sorry but I feel your statement of your returns are grossly over inflated.

I didn't say I started with a million bucks, 30% on $2000 to start. As for Aurora--do a little research --in at .66

You are entitled to your opinion though

Short lived .... recovering slowly.

D.


https://i.imgur.com/bTUBES3.png

Even at $2,000 with no additional contributions your initial investment is well into the seven figures today. But, I'm not you so I still have to work occasionally :)

Yes, true, BUT 'The Flu' has been circulating over how many decades? Centuries? The numbers are an average.

This is not 2 months old.

What happens when this circles the globe for a decade?

This virus has hardly even gotten started. It has proven to be highly contagious and there is no indication we are going to be able to keep it at bay other than with economy killing quarantines/limitations on public activities. And we are just about to start seeing the impact of the prolonged China shutdown on non-china supply chains. that will last for months (at the minimum) If the virus continues growing in the rest of the world and China has a relapse as they try to restart factories (likely) we are looking at a year plus of economic turmoil assuming they don't find a miracle treatment or an abnormally fast vaccine.

Look again, the TSX fell 100 points in short order, and the Dow has lost most of what it had gained

Economic Impacts of the 1918 Influenza Pandemic
 

I posted this in the other thread earlier but here it is again. I am trying to use this and other research as a way to think about how this could affect financial markets. We really have no other period prior to 1918-20 to compare the effects of a truly global pandemic and how markets and governments react. There are so many differences but some insight can be gained by looking at the effects on the economy back then and applying it to what is going on today.

https://www.stlouisfed.org/~/media/f...flu_report.pdf

My entire portfolio is in self directed RRSP and TFSA accounts, so I was able to convert to cash with no tax penalties. I did lose some profits, but if this goes for a big dump, I can easily make that back on the recovery.

everything will be fine. Coronavirus will not affect Canadians.
If it were dangerous, Trudeau and the government would have implemented stricter travel restrictions. Trudeau is not an idiot. He is wise and strong.

Exactly what Justin has been training us for....:(

Watch how the futures react to Trumps talk on the bug tonight. How he handles this could make or break his re-election. And look at who we will get if Trump doesn’t get back in. Hows that scenario going to affect stocks? The market is terrified of that possibility. Plus we are well into a 11 year bull run, lots of stocks are overpriced, we have debt at all levels out the ying yang. Lots of negatives and the market was at all time highs just days ago. 2 days of slash and burn selling and a weak bounce. It don’t look good to me but who knows. Go Trump!

Although both the Dow and the TSX were positive at some point today, they both finished down again. If anything, the uncertainty is still growing.

I put some play money into a pharma stock that is working on a vaccine. If you pick the right one. Instant 25:1.
Legalized gambling but does give extra money and incentives to find a cure.

2000 and if you never add another penny, compounded at the rates and term he quoted turns into around 9 million.