More Canadians are Investing
That is indeed a good thing. However, I strongly recommend that these individuals do not recklessly throw their money into mutual funds or other similar options. Instead, I urge them to conduct thorough research and read blogs to ensure that they invest their money most appropriately to achieve their desired investing experience.
In 2006, the number of people reporting investment income was up 5.4% from 2005, while the income was up 16.3%. This gain in investment income in 2006 was more than double the 7.9% growth rate observed in 2005. (In comparisons involving dollar amounts, all figures for previous years have been adjusted for inflation, as measured by the Consumer Price Index.)
Last year was a relatively Bull Market, so this is not very surprising, but still good to read as well.
| Investment income | |||||||
|---|---|---|---|---|---|---|---|
| 2006 | 2005 to 2006 | 2006 | 2005 to 2006 | 2006 | |||
| Taxfilers reporting investment income | Investment income | Taxfilers reporting investment income | |||||
| number | % change | $ thousands | % change | % | |||
| Canada | 8,202,230 | 5.4 | 40,906,296 | 16.3 | 35 | ||
| Newfoundland and Labrador | 78,490 | 8.6 | 176,041 | 19.9 | 20 | ||
| Prince Edward Island | 30,350 | 6.7 | 97,580 | 10.9 | 30 | ||
| Nova Scotia | 189,260 | 4.8 | 936,088 | 9.9 | 28 | ||
| New Brunswick | 138,600 | 5.5 | 434,180 | 13.8 | 25 | ||
| Quebec | 1,804,550 | 4.2 | 7,920,612 | 11.8 | 31 | ||
| Ontario | 3,286,980 | 4.7 | 15,657,291 | 13.2 | 37 | ||
| Manitoba | 304,720 | 5.0 | 996,217 | 14.7 | 37 | ||
| Saskatchewan | 262,760 | 3.7 | 1,084,892 | 13.8 | 37 | ||
| Alberta | 888,860 | 9.0 | 6,902,315 | 27.6 | 37 | ||
| British Columbia | 1,205,110 | 6.6 | 6,642,858 | 21.2 | 40 | ||
| Yukon | 6,040 | 5.8 | 24,658 | 3.1 | 28 | ||
| Northwest Territories | 5,300 | 3.5 | 28,248 | 79.4 | 20 | ||
| Nunavut | 1,230 | -9.6 | 5,316 | 32.9 | 8 | ||
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Nortel in the Black?
Former High Tech darling Nortel announced relatively good numbers showing a profit in Q3, and relatively “solid” .
The Company reported net earnings in the third quarter of 2007 of $27 million, or $0.05 per common share on a diluted basis, compared to net loss of $63 million, or $0.14 per common share on a diluted basis, in the third quarter of 2006 and a net loss of $37 million, or $0.07 per common share on a diluted basis, in the second quarter of 2007.
Am I saying maybe it’s time to invest in the former High Tech Powerhouse? No, that is your call, and you better have a strong stomach because previous history suggests this could easily be a “blip”.
