The title should be Bond To Bond but I thought the 007 reference was kind of catchy. My exit strategy began last fall when I transferred out of the Canadian Resource Fund to a Canadian Bond Fund. I took the next step in May when I switched out of the Canadian Endeavour Fund to the same bond fund.
As of May 4 the largest chuck of my stuff was sitting on the sidelines in the bond fund with a finance guy who I feel rather ambivalent about. It's not that I dislike finance guy, it's just that I don't really know him as he inherited my account when my previous finance guy, a close personal friend, passed away very suddenly a couple of years ago.
We figured we'd like to have a local finance guy here in Carman. Hey, if you live in small town Manitoba you should make an effort to deal locally. That's what keeps small prairie towns alive and we sure want Carman to remain healthy given our investment in the bungalow by The Boyne. It just happens that one of our close friends at the lake is an account manager with the local branch of one of the big five. We asked, and she introduced us to the branch finance guy. So, after many, many years with our previous fund company we switched to the bank and parked it all in their bond fund.
Given that the TSX is off nearly 9% from the high of April 5 I've been sleeping really, really well and enjoying clipping the coupons! I expect to jump back in sometime this fall but not until I see some stability in the markets.
As of May 4 the largest chuck of my stuff was sitting on the sidelines in the bond fund with a finance guy who I feel rather ambivalent about. It's not that I dislike finance guy, it's just that I don't really know him as he inherited my account when my previous finance guy, a close personal friend, passed away very suddenly a couple of years ago.
We figured we'd like to have a local finance guy here in Carman. Hey, if you live in small town Manitoba you should make an effort to deal locally. That's what keeps small prairie towns alive and we sure want Carman to remain healthy given our investment in the bungalow by The Boyne. It just happens that one of our close friends at the lake is an account manager with the local branch of one of the big five. We asked, and she introduced us to the branch finance guy. So, after many, many years with our previous fund company we switched to the bank and parked it all in their bond fund.
Given that the TSX is off nearly 9% from the high of April 5 I've been sleeping really, really well and enjoying clipping the coupons! I expect to jump back in sometime this fall but not until I see some stability in the markets.
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