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News | Globeinvestor | Technology | Vehicles | Careers |
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The Globe and Mail's Smart Money section is dedicated to giving you what you need to manage your personal finances successfully. Smart Money appears every Saturday in The Globe and Mail and on globeinvestor.com.
Other than for convenience, it's hard to find a good reason to invest in a wrap, ROB CARRICK writes. Fees are high, returns mediocre
What the TV dinner did for eating, the wrap accounts sold by banks have done for investing.Picture this: You walk into a branch, you answer some questions about your investing goals, your time horizon and your attitudes toward risk and then you're directed to one of a series of wrap accounts, which are prepackaged blends of mutual funds. Investing doesn't get any easier than that.
A weekly scorecard of some of the lowest and highest rates and yields across Canada.
MORTGAGESThe lowest rates posted for one, three and five year closed mortgages.1-YEAR CLOSED PACE Savings and Credit Un 3.75Ukranian Credit Union 3.79ING Direct 3.8Ontario Civil Service CU 3.8Metro Credit Union3.89Average rate4.683-YEAR CLOSED Citizens Bank of Canada4.6GMAC Residential Funding4.6Manulife Bank4.6ResMor Trust4.64Alberta Motor Assoc. 4.65Average rate5.43
TONY MARTIN profiles an investor who fled stocks for the security of rental properties
Joanne Beehler decided to move out of the stock market and into real estate because she wanted more control over her destiny. Real estate gives her piece of mind by giving her more control over her finances than she would have if she invested in the stock market, says the 37-year-old who works as a manager at a telecommunications firm in Ottawa.
You gotta love it when kids tell jokes.''Daddy, why did the rooster cross the road?'' my son Winston asked the other day.''I dunno,'' I replied.''Because he was paper-clipped to the chicken!'' Winston laughed. Boy did he laugh. In the end, his bad joke got a good response because he was having such a good time telling it. Enthusiasm can do that.
A selection of this week's winners and losers
STARSGildan Activewear (GIL.A--TSX)$39.09, up $2.59Steel, oil, T-shirts? Hot on the heels of strong earnings, Gildan's CEO said he sees opportunities to sell his products in China. One question: It's no secret that it's way cheaper to make shirts in China, so how is Gildan going to be able to make money exporting them into that country?
