What Canadian investors can learn from the BlackBerry story + MORE Nov 10th

If you missed the acclaimed movie BlackBerry in theatres, it’s airing on CBC and streaming on CBC Gem as a three-part series—with additional scenes—beginning November 9. The limited series chronicles the making and unmaking of Canada’s global technology champion of the early 21st century. Entertaining as it is, the show also contains some important lessons for investing in technology startups. MoneySense spoke with Jacquie McNish, co-author of Losing the Signal: The Untold Story Behind the Extraordinary Rise and Spectacular Fall of BlackBerry (Flatiron Books, 2015), the book upon which the series is based, about the takeaways for investors.

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1. Starting and scaling a global tech leader from Canada is hard 

“We are a risk-averse country,” says McNish. “We are dominated by large corporations, whether in banking or technology or real estate.” BlackBerry—then known as Research in Motion, and RIM for short—only got noticed in Canada after it was backed by American investors and banks, and lauded by the likes of Bill Gates, Oprah Winfrey, Michael Dell and GE’s Jack Welch…

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Nearly 60% of outstanding mortgages at Canadian banks will be up for renewal in the next three years, and home owners are in for a “payment shock” if interest rates don’t decline significantly, according to a market update released by RBC Capital Markets at the end of October 2023. Monthly payments could rise anywhere from 33% to 84%, depending on the year the mortgage comes due. If your mortgage renewal is on the horizon, you may already be keeping an eye on five-year fixed rates and five-year variable rates. Should you renew early or switch mortgage providers to get a good one?

A key factor to consider: if you have a closed mortgage and decide to break your mortgage contract before the agreed-upon term has expired, you’ll likely have to pay a prepayment penalty fee. A mortgage penalty calculator can help you figure out exactly how much those fees will be and make it easier to know whether it’s worth it to break your current mortgage contract early. (And if you’re a first-time home buyer, this is good to keep in mind, in case you spot a better mortgage rate down the road…

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MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.

The best balance transfer credit cards in Canada for 2023

By Keph Senett on November 9, 2023Estimated reading time: 15 minutes

If you carry a balance on a regular credit card, chances are you’re paying around 20% in interest…