December is always a busy time of year. For me its when I pick up the most shifts at work, as others go on Holiday. I prefer to visit my family after Christmas when things quiet down and travel is easier. For most people it’s the frantic disorganization and consumerism that centers around Christmas.I’m fortunate that my immediate family avoids the financial obligations that others feel so compelled to buy into. Remember, this time of year regardless of your background, is about being with family and friends, and not buying the next hot gadget or biggest TV 😉 And that leads to my upcoming book review.
[easyazon-image-link asin=”1118092201″ alt=”Crushing Debt: Why Canadians Should Drop Everything and Pay Off Debt” src=”http://ecx.images-amazon.com/images/I/515ArjVxB6L._SL500_.jpg” align=”left” width=”166″ height=”250″]I’m in the process of reviewing [easyazon-link asin=”1118092201″]Crushing Debt[/easyazon-link], by David Trahair, who is the author of the National Bestseller [easyazon-link asin=”B002M0HH3Y”]Enough Bull[/easyazon-link]. This is a fantastic read, and I’ve literally been reading the book in three days. If you’re wondering why the Canadian Banks appear to be in such great shape, and think the Canadian economy is purring along, you might think otherwise after reading this book. Tahair shows the relationship between Canadian consumers, the Canadian Banks, and how we are all intertwined with the global economy. Canadians have amassed a lot of consumer debt, and Government debt is no exception. While we made it through the financial crisis much better than our American or European counterparts, Tahair shows how fragile the Canadian banks and Canadians really are financially. Whether you agree with Tahair’s data crunching and figures is something I’ll leave to the experts, but its one of my best reads for 2011. I’m delighted to announce that Wiley and Sons, has provided me two extra copies, which I’ll be delighted to share with readers in yet another book giveaway next week. Stay tuned!
The Weekly Lineup
Here are some great reads from other financial bloggers over the last week:
- My Own Advisor wrote an exceptional post on the Top Canadian REITs, and why he invests in them. He summarizes RioCan, H&R REIT, and Boardwalk. I’m just starting my DRIP plan this January, and RioCan is on the list! Excellent work MOA!
- Dividend Mantra lamented over selling one of his holdings, as it’s just not in the Mantra’s nature to sell. Mantra don’t sweat it, we all make mistakes, and preserving capital is key. 😉 You made the right move, and whew just in time!! One day after he sold his shares in TEF, the dividend was cut. Just goes to show you what I’ve been saying for months, high yield = high risk. I also have a couple of high dividend payers to offload sooner than later 😉
- Andrew Hallam’s Millionaire Teacher has now become one of the most successful personal finance and investing books published, and one of the most popular bestsellers on Amazon in both Canada and the U.S. Andrew discusses The Crazy Success of Millionaire Teacher, and gave a big thank you to all the bloggers who helped promote it. Andrew believe me, most of us are more than pleased to help! Thanks also for the double-mention in your recent post 🙂
- Robert Wasilewski at DIY Investor, wrote a two-part post on how to invest in bonds, and discusses how to trade the spread for profits, in Trading Bonds. As Robert points out, most professional bond managers will tell you, predicting interest rates is like predicting stock prices – it is a loser’s game, and they prefer dealing with spreads.
- Young and Thrifty, discusses becoming your own realtor in Who Needs Realtors When You Can List Your Home Yourself. Yup, no controversy there Y&T! I smell a Globe and Mail mention for this one. 😉
- The Canadian Couch Potato discusses the simplicity of a 50% bond and 50% equity portfolio in, The Timeless Harmony of a Balanced Portfolio. An excellent post. Thanks for reminding me Dan, that I’ll be 50 in just a few years! For my 50th birthday I will most certainly be keeping 50% in bonds. It’s in writing! 🙂
- The Passive Income Earner has been following the big three Canadian Insurance companies for while now, and he sees a buy opportunity, in Ready to Buy Into the Life Insurance Sector? I’m on the opposite fence with PIE on this one. The low PE Ratios with high debt and liabilities show a more frightening scenario. These companies are struggling with borderline earnings in this low interest rate environment. However PIE presents a great article summarizing the insurance sector in Canada!
Thanks for reading, and have a great weekend everyone!