SPOTLIGHT: Portfolio Picking
'Value' investing a minefield
Value investing is a much used - and abused - word in mutual funds these
days. A long list of fund managers, from deep value buyers to index-weighted
stock pickers, are searching high and low for bargains. It's a stark contrast to
the late nineties when the dot-com tech bubble brought an onslaught of
growth-focused fund managers. Keith Damsell has the details.
Discovering the joys of going long and short
Here's the timeless dilemma facing money managers. To make a name, a good
portfolio manager has to develop a style. At an early stage in most careers on
the buy side of the Street, a stock picker gravitates toward growth, or value,
or Southeast Asian small-cap non-bank financial companies run by Scorpios.
It's possible to focus on pretty narrow specialties these days. Andrew Willis
FUND FEES: Unforeseen Consequences
- Fund holders may win, while fund firm shareholders may lose
What's good for fund unit holders may be very bad for
investors in the shares of publicly traded fund firms. On Wednesday, Fidelity
Investments Canada Ltd. announced plans to cut the management fees by 20 to
30 basis points across its slate of mutual funds next year. The move is
expected to cost the company about $25-million annually. Keith Damsell has
Kerfuffle over Fidelity's fees a healthy sign of competition
AIC, AGF reviewing whether to cut fees
Who are the low-cost leaders?
It has long been a general rule that the biggest of the big mutual fund
companies are as relevant to cost-conscious investors as fast-food restaurants
are to healthy eaters. But Rob Carrick uncovers some low-fee gems.
INCOME TRUSTS: Watch Out For Wolves
Trust sector riddled with wolves in cash cows' clothing
Puzzled by the legal gobbledygook surrounding income trusts? Can't make heads
nor tails of the latest trust prospectus? Fear not. All you need to know is
that when it comes to trusts, you've got your cash cows. And you've got your
wolves, in cows' clothing. Andrew Willis has some hints for telling the
Veteran manager makes a case for buying trusts
The Toronto Stock Exchange's long-running production of Trust-O-Rama never
seems to get old with investors. Year after year, income trusts keep
delivering. There's a pullback every now and again, but trusts always bounce back. Can nothing stop this asset class? Rob Carrick
Energy service trusts deserve a look
Historically, oil and gas has been a cyclical business, and
no one rides that cycle up and down more than energy service stocks. When
oil prices rise, volume picks up -- as does the service sector's pricing.
When oil prices fall, overcapacity kills pricing.
Investors have to be nimble, anticipating the peaks and troughs before it's
too late. Martin Braun explains.
PERSONAL INVESTING: Dealing With Losses
Make the most out of capital losses
If you're like many investors and have some losers in your portfolio, do your
best to make lemonade out of those lemons with Tim Cestnick's tips on dealing with capital losses.
Borrowing to invest backfires badly
With a gross income of $43,334, Jenny ought to have her financial house
in order. Now 48, she
estimates that she will receive a $21,000 annual pension when she retires.
Jenny wants financial security, but a trip into the stock market proved
disastrous for her retirement plans. Andrew Allentuck has the gory details.