London’s non-domiciled residents + MORE Oct 22nd

Illustrations by Joel Kimmel.
PEI Finance Minister Wes Sheridan recently launched a new proposal to change the Canada Pension Plan (CPP) in advance of December’s meeting of finance ministers. The CPP is a key pillar of Canada’s retirement income system, with a mandate to help Canadians replace a share of their labour market earnings after the end of their working lives. It is also a very large part of our public finances — it will pay out about $38 billion in benefits in 2013-14, and has over $180 billion saved up in its investment fund. Calls for CPP reform have sprouted because of a concern that many middle and higher income Canadians aren’t saving enough to fund an adequate retirement. So, how does the Sheridan plan address this concern? And is it the right approach?
First, let’s take a look at how CPP works. There are two moving parts of the CPP formula that are up for debate. The first is the earnings cap. The CPP covers earnings up to a cap set around the median — $51,100 for 2013…

My 2013 long & short tech picks had done fairly well so far but the past 2-3 months have been even stronger. As of right now, I had 5 remaining open trades and this morning I will be closing 3 of those.
All 3 have done extremely well. The two first ones are:
Long eBay (EBAY) & Short Demand Media (DMD) +32,17%

 

Long Facebook (FB) & Short Rackspace (RAX) +28,76%

 

Some might be surprised to see that I’m closing out my trade on Apple (AAPL). Why? Because I’ve been arguing for some time about how much of a good trade it looked like. I will be writing a longer piece about Apple in the next few days but I just want to be the first to say that I still very much believe in the stock, especially with a longer term (1 year or more) time horizon.
In this case though, knowing that I’ll be closing out my trade in the next couple of months at the latest, it’s difficult to not take such an amazing return.
Long Apple (AAPL) & Short Travelzoo (TZOO) +71,52%

I no longer have my +20% stop limit on winning trades but at some point winnings should be taken off the table and that is what I’ll do this AM
Where Does This Leave Me?
I now only have 2 live trades and the average trade has returned 6…

As the global super-rich buy real estate, the market is ‘losing touch with reality’

MONTREAL – Canadian National Railway (TSX:CNR) will be releasing its third-quarter financial results this afternoon amid heightened public scrutiny of the rail industry’s safety record following a number of spectacular derailments in recent months.
A weekend derailment of a CN train near Gainford, Alta., continued to keep crews busy Tuesday, as a tanker car with thousands of litres of propane continued to burn for a fourth day, despite efforts to douse it with water.
It was the third notable CN derailment since September and followed high-profile accidents during the summer at lines operated by Canadian Pacific (TSX:CP) and Montreal, Maine and Atlantic.
The companies have defended their overall safety records but CN executives are likely to face more questions during a conference call after its third-quarter results are issued.
The Montreal-based company was expected to report $2.64 billion of revenue and $1.64 per share of net earnings for the quarter ended Sept. 30. Adjusted earnings were expected to be $1…

This GIC rate is offered by Outlook Financial and was updated on 2013-09-16. Click on the link above to get more details or apply online.