MINUTES: Investment Club Meeting (January 15, 2013)

By -

Ellen's Investment Club


Meeting Minutes
Tuesday, January 15, 2013, 7:30 - 9:30pm
7:30pm - 9:30pm
Miles Nadal Community Centre
750 Spadina Avenue (at Bloor)

1
Administrative matters

·         Resources

Toronto Public Library Reference Library


·          Ask an Expert: Investment Research (Feb 4/6-8pm, Feb 19/3-5pm) registration at 416-393-7209
·          Kurt Rosentreter, What comes first: reducing your debts or contributing to RRSP and TFSA, Feb 20/6:30-8pm) No registration required

Thackray’s 2013 Investor’s Guide is now available
2
Guest speaker: David Trahair, Author of Cash Cows, Pigs and Jackpots: The Simplest Personal Finance Strategy Ever

·         David started his presentation by saying that the traditional method of building wealth doesn’t work anymore and the idea of net worth is misleading.  He suggested that cash flow is king, not cash.  You need to know where your cash is coming from and where it is going.  He suggested there are three types of cash flow: cash cows – sources of ongoing cash coming in such as interest from employment or fixed income; cash pigs – outflows of cash such as cars; and potential jackpots – assets that increase in value such as houses during the last decade – but there are no guarantees.  Each category is relative.  Credit card debt is a cash cow for banks but a cash pig for consumers.
·         He suggested that you are your most important source of cash flow so that you should take care of yourself (diet, exercise and sleep).
·         David suggested that the first priority should be to eliminate debt (student loans, mortgages, credit card balances, lines of credit, etc.) before considering investing.  His rationale is that with low interest rates for fixed income investments and low rates of return for equities and other investments, it makes more sense to pay down debt that carries a higher rate of interest than one can earn with investments.  He said it is important that you retire debt free.  Accordingly, you should only buy a house that you can afford in the work years you have remaining.  He cautioned that one should only buy an affordable house as extra space and costs deplete cash flow.
·         He described various cash flow sources such as pensions, CPP and OAS, and options for converting RRSPs at age 71.
·         There were extensive questions and answers.
3
Next Meeting

·         Tuesday, February 19, 2013
·         Pim Rom-Coltroff: How to read financial reports

Comments

Post a Comment

Popular posts from this blog

Investment Club Meeting on June 20, 2023 (Webinar)

By -
  Ellen's Investment Club  (Toronto Central Investment Share Club) Guest Speaker: Kim Bolton, President and Portfolio Manager, Black Swan Dexteritas Inc. Tuesday, June 20, 2023, 7:00 – 9:00 P.M. By videoconference 1. Member introductions 2. Approve Agenda 3. Guest Speaker: Kim Bolton, President and Portfolio Manager, Black Swan Dexteritas Inc.   Kim Bolton will speak about the ecosystem of artificial intelligence (AI) companies, so we can find publicly traded companies that are AI leaders and likely to grow more quickly 4. Club Survey implementation 5. Recent Market Events  Discussion on profitable listings reaching recent 52-wk highs or lows & reasons for such  performance 6. Ellen's Investment Club Stock Contest 7. What members are buying, selling, or watching? What's the best or/and worst move you made recently Would you do anything differently, why/why not? 8. Next meeting: Tuesday Sept. 19, 2023 7-9 p.m. 9. Adjourn Club contact: EllensDegenerates@hotmail.com Club B
Read more

Investment Club Meeting on October 17, 2023 (Webinar)

By -
Ellen's Investment Club  (Toronto Central Investment Share Club) Regular Session Tuesday, October 17, 2023, 7:00 – 9:00 P.M. By videoconference 1. New member introduction We are expecting about half a dozen students from Ellen’s current Investing for Beginners course at U of T. So let’s have everyone introduce themselves, describe the state of their investing skills and give their reasons for joining this club. 2. Approve Agenda 3. Current member introduction Since our club consists of many beginners and a number of very experienced people, let’s ask the “old timers” to say what they have learned about investing after years of buying securities, either with an advisor or on their own. 4. Recent market events Discussion of profitable listings reaching recent 52-week highs or lows and the reasons for such  performance. 5. Ellen's Investment Club Stock Contest Updated chart by Tom Loftus We’ll also look at the Globe and Mail’s stock contest, in which Report on Business readers are
Read more

Investment Club Meeting on April 16, 2024 (Webinar)

By -
   Ellen's Investment Club  (Toronto Central Investment Share Club) Guest Speaker: David Trahair, CPA, CA Tuesday, April 16, 2024, 7:00 – 9:00 P.M. By videoconference 1. Member introduction 2. Approve Agenda 3. Our guest speaker is  David Trahair , CPA, CA, David is a personal finance writer, trainer and e-Learning content developer. He is also an author of  six books on personal financial issues , including three national bestsellers. He was a columnist for CPA Magazine from 2014 to 2018 and spoke to a meeting of our club about a decade ago. I was checking out David’s site recently and saw a course that I thought would be helpful for investing novices and more experienced investors as well. It normally takes 3.5 hours and costs $275 for public attendees, but David will give us a shorter version in 45 minutes and answer our questions. His online course is called  The Complete Guide to All Your Investing Options .  Here’s how he describes it: “This course will show you all the diffe
Read more