Stock news for investors: Iamgold expands, Teck advances merger talks, and Wealthsimple hits $100B milestone + MORE Oct 23rd

Here’s a round-up of news for Canadian investors this week.

Iamgold

Teck Resources

Mullen Group

Wealthsimple

West Fraser Timber

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Because I get a lot of free review copies of financial books, it’s rare that I actually order one from Amazon, let alone three. But I did just that recently when I was curious about three influential authors who released new financial books within weeks of each other.

The first can be regarded by retirees and those on the cusp of retirement as a must read: William Bengen’s A Richer Retirement, the long-awaited update of his classic book on the much-cited 4% Rule: Conserving Client Portfolios During Retirement. First published in 2006, that book was really aimed at financial advisors but became popular with the general investing public after it got extensive press exposure over the years.

 The 4% Rule—which is actually closer to a 4.7% Rule depending how you interpret it—refers to the “safe” percentage of a portfolio that retirees can withdraw each year without running out of money in 30 years, net of inflation. Bengen’s term for this is “SAFEMAX…

As exchange-traded funds (ETFs) with covered call strategies gain momentum among retail investors, finance experts say these products come with a trade-off. Proponents of these investments say they can be a helpful tool for income-focused investors, while opposers say they result in lower longer-term returns and shouldn’t be a core investment holding.

Prerna Mathews, vice-president of ETF product strategy at Mackenzie Investments, said covered call ETFs typically invest in dividend-paying equities and further enhance income by writing call options on those holdings. A call option provides the right to purchase a security at a set price. She said covered call ETFs essentially earn option premiums in exchange for “giving up” some of the stock’s future gains beyond the set option price.

She noted covered call ETFs have flourished in the market recently, fuelled by investor enthusiasm for their higher yields. Mathews said these products can be attractive to those who prioritize income over growth and help manage market volatility…