The Christmas after Christmas
Ah, January — when mutual funds roll out ads for RRSP season, and investment advisors get exponentially busier as February 28 approaches. This year, the industry’s “Christmas-after-Christmas” season will be particularly joyous, as many funds will have risen 20% or more in 2009. That still qualifies as underachievement, though, as the Toronto index rose 27% on the strength of… well, on the strength of it no longer being 2008.
Now, according to the Globe & Mail’s mutual fund site, sixteen of twenty-two Canadian gold funds had returns of 100% or more, in the year ending November 30. That’s a poorly-chosen datapoint — November 2008 was the absolute nadir of that sector — but it’s the latest data available on the Globeinvestor website as of this writing. And it shows that for such funds last year, a dart-throwing monkey could’ve probably doubled people’s money… that is, if they were foolish enough to trust their entire savings to an ape. Mind you, considering how the ape’s competition did, that might not have been a bad idea…!
Still on the topic of dextrous chimps, the Vancouver gold show coming up will see hordes of company reps looking to fleece the uninitiated with some old-school Vancouver Stock Exchange bravura. Bre-X was ten years ago, Southwestern was so 2008, so someone new has to carry the torch!
The venue should be obvious from the assortment of protesters politely asking conference-goers not to invest in a various companies pillaging their way through foreign lands like the humans in the movie “Avatar”. There’s a story going around that our mining companies have been so ruthless in Latin America, Canadian tourists are sewing American flags on their travel gear. Like most such stories, it’s probably untrue in the immediate factual sense (I doubt many tourists are doing this) but it does point to a commonly-held belief, which is in this case true (some Canadian mining companies do some vicious things for their shareholders).
Back to activism though.
During our recent Portland trip, I was privy to the most effective protest leaflet I’ve ever seen. A few well-dressed individuals from the “In Defense of Animals” group were handing out copies of the professionally-designed, high-gloss postcard below (on the web here).
Basically, they praised Nordstrom and its founders, praised its customers as compassionate individuals, and explained that since the chain had done so well in almost completely eliminating fur from its sold goods, wouldn’t you please politely tell the manager you’d like them to phase out the remaining fur products? While most protest groups would direct their outrage at the store or the very consumers to whom they’re passing out leaflets, these guys neatly separated the evil “other”, the Jungian shadow, into a separate category.
