Last couple of questions for Bob Shark?

Question

You say you are a successful investor and use mutual funds. I was wondering if you could give me some information on mutual funds itself and options i have to choose from and on which mutuals funds you use to get optimum profit.Do you use CIBC bank or a different canadian bank.

Answer 1

I am guessing that you are young..

And if that is so, mutual funds could be for you

Mutual funds , are a group of funds put together and sold to the public...The public buys Shares in the fund, All Canadian Banks have their own line of "NO LOAD" mutual funds and will be glad to talk to you about what ones meet your investment needs based on your ability to accept risk. These funds are meant to be held long term, but can be sold at any time without penalty.

A good place to start, is with a  "Balanced Fund"

This is a basket of equity shares, bonds, and money market instruments. This fund is lower in risk than most and low on volitility.

Or you can buy a dividend fund, which is a basket of companies that pay dividends quarterly and the dividends are treated better by the tax dept (dividend tax credit) These companies are considered blue chip companies.

There are more mutual funds in the world than there are stocks listed on the worlds exchanges.

BUT don't pay a load . Load is a commision to buy, sell, or both ,mutual funds.  Load mutual funds are sold by Investors group, Insurance companies and other stand alone mutual fund companies.

Stay with the banks.

I Use Royal Bank, But all bank funds are similar.

I won't tell you what I invest in ,or how, because What I do is considered un-wise and extremely risky, but I make around 125,000 to 200,000 in 6 months most years

Right now I am sitting on a lot of cash, looking for a good entry point

Good luck guy