Not sure about others but Scotia banks don't have fees. None in, none out, no management.Quote:
Originally Posted by Gilroy
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Not sure about others but Scotia banks don't have fees. None in, none out, no management.Quote:
Originally Posted by Gilroy
10-4....Quote:
Originally Posted by werner.reiche
Not sure what your wondering Gilroy. Werner has a lot of knowledge. What we might call sophisticated and has answered a lot. The truth is, these very many years later many people still don't understand MFs, or what a MER is ( Management Expense Ratio). Long after MFs gained popularity ETFS came along. ETFs are a lot like MFs but without the MERs. Something I would point people towards who had decent understanding of things, because it's saving them the MER.
There are soooooooooo many things out there these days. Many of them, the kinds of things "genius's" dream up, structure (sort of our/my business from the 90s on) . There's index and equity linked notes, Some which basically or essentially guarantee floors so losses are "capped", but they have ceilings as well, capping the upside. For the consumer you typically get interest and a wee bit of market exposure/participation. Lol, god I could spend hours. Many things get sold to the public, which use derivatives and structured products on the back end to mitigate risk.
Google "when genius fails". It's a true story from the 90s, few ever heard of.
I will also tell you, I was with Deutsche bank when Bre-x happened and the RCMP came a calling.
Bankers Trust when they had a couple blow ups with Gibson greeting cards and again on the Peso.<< Again all structured products.
Then Maple securities and Wolfgang..
With respect to Werners last post, and last line.
Most people don't understand risk, or the definition of risk. Risk is not the risk/chance your investment will lose money. Risk is the volatility in price movements. At it's simplest banks are deemed "low risk", and attractive for their dividend yields. Low risk means their share price doesn't move much. Maybe up a hair or one day, down a hair the next. High risk, are things where the price is volatile. Big swings daily or intra day. Conversely, much as people think short sellers are evil incarnate, they add liquidity ( stability) to the markets.
With respect to the "gic" you linked. At a superficial glance its and equity linked note. Something that can pay you some interest with some exposure to utility companies. They can protect or guarantee against downside risk, but will cap the upside as well.
Here you go Gilroy. This should give you nightmares at night :). And, largely factual
https://en.wikipedia.org/wiki/When_G...t%20%28LTCM%29.