Quotes of the Day

Spend more time with better prospects. Fish for whales, not minnows. [2004] - Brian Tracy

Although upon extremely rare occasions a second wave in an impulse appears to take the form of a triangle, triangles nearly always occur in positions prior to the final actionary wave in the pattern of one larger degree, i.e., as wave four in an impulse, wave B in an A-B-C, or the final wave X in a double or triple zig-zag or combination. [2001] - Robert Prechter

The best hedge fund managers and professional traders are ecstatic when they achieve a 35 percent return for the year. [2003] - Marcel Link

Your after-tax rate of return must be greater than your after-tax cost of borrowing or the financial math won't add up in your favour. Based on everything you know about the history of your investment type and the best advice of the professional team you employ, ask yourself what the average and worst-case scenarios look like. If you can't live with the worst-case scenario, don't move ahead with the investment. Across Canada, real estate has returned on average 5.5 percent over the past thirty years. But perhaps you might be extremely unlucky and find yourself in a ten-year lull where the market returns only 3.5 percent. Keep this in mind (and stress-test for it) when deciding whether to borrow money to invest. [2017] - Calum Ross

The Canadian Estate Planning Institute Inc. (www.estateplanning.ca) offers articles on financial and estate planning. It also provides several checklists and charts that give you a head start on drafting a succession plan for the real estate empire you've built. The National Real Estate Institute Inc. (www.homebuyer.ca) is another excellent source of information. [2020] - Douglas Gray