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As many Canadians are doing this Victoria Day weekend, I am enjoying the holiday at the lake. While rifling through the various magazines laying around the cottage I found MoneySense's Summer 2008 issue with their Income 100 top picks - their recommendations of the best Canadian stocks and trusts for Investors looking for yield.
The prices and yields given are as of April 2008 and it was interesting to peruse the list with the benefit of hindsight - a good reminder to perhaps not take any investment advice at face value.
Of the 100 stocks and trusts on the list I can find only 5 that have a higher stock price now than they had a year ago. Most are still trading at one third to one half the value they were a year ago and many have cut their payouts.
The 5 "winners" are Barrick Gold, Kinross, Loblaws, George Weston, and Fairfax Financial.
Interesting to note that none of these rated in MoneySense's "A" group - in fact some of them rated "D" for dreadful - their words not mine.
Also interesting to note that Income Trusts seemed to have fared worse than stocks.
Personally, I find it hard to get excited about a 5% yield when the trust or stock drops 50 to 70%
The prices and yields given are as of April 2008 and it was interesting to peruse the list with the benefit of hindsight - a good reminder to perhaps not take any investment advice at face value.
Of the 100 stocks and trusts on the list I can find only 5 that have a higher stock price now than they had a year ago. Most are still trading at one third to one half the value they were a year ago and many have cut their payouts.
The 5 "winners" are Barrick Gold, Kinross, Loblaws, George Weston, and Fairfax Financial.
Interesting to note that none of these rated in MoneySense's "A" group - in fact some of them rated "D" for dreadful - their words not mine.
Also interesting to note that Income Trusts seemed to have fared worse than stocks.
Personally, I find it hard to get excited about a 5% yield when the trust or stock drops 50 to 70%