Xbox.com Forum - Contacted Activision about the online play. WARNING, LONG POST!#745704: "alright fellas:
I am a telemarketer licensed in over 20 states. i used to work for the largest chain of call centers in the US."
Apparently this guy struck a chord with everyone who bought Call of Duty ii for Xbox 360.
I hope Activision, Microsoft, or Infinity Ward releases some sort of patch or downloadable DVD that will add some new missions and fix live play for everyone. Otherwise, EA is going to stomp them in the markets.
Sorry Jim Cramer... I was wrong... Activision is in for a ride.
Saturday, December 31, 2005
Wednesday, December 28, 2005
Financial Risk Management
Search for 'ignoring stop loss limits' has some interesting posts around risk management & ethical trading.
Thanks everyone for your comments. As people rightly surmised, my hypothetical situation was based largely on fact. While I spoke of it in the current tense, it actually happened a short while ago, and I am now trying to make sense of it all. As things transpired, the manager's let the position ride. The market did reverse itself, and we made back almost the entire loss. The parent company is none the wiser.
Thanks everyone for your comments. As people rightly surmised, my hypothetical situation was based largely on fact. While I spoke of it in the current tense, it actually happened a short while ago, and I am now trying to make sense of it all. As things transpired, the manager's let the position ride. The market did reverse itself, and we made back almost the entire loss. The parent company is none the wiser.
Saturday, December 24, 2005
The Optionetics Trading Approach - Articles
The Optionetics Trading Approach - Articles: "Stocks are never too high for you to begin buying or too low to begin selling. But after the initial transaction, don't make a second unless the first shows you a profit."
The Optionetics Trading Approach - Articles
"The Tony Robbins, Zig Ziglars, and W. Clement Stones of the world all bark the same repackaged message. To be successful, one needs to strive for improvement, keep a positive attitude and most importantly follow the blueprint some predecessor used to accomplish their goal. In the world of trading, the three names that come to my mind as the epitome of success are Russell 'The Money King' Sage, Jesse 'The Boy Plunger' Livermore and Warren 'The Sage of Omaha' Buffett. Yes, even Omaha has a sage."
I thought he was the Oracle of Omaha.
Anyway, good article.
I thought he was the Oracle of Omaha.
Anyway, good article.
Friday, December 23, 2005
Publications and Research - Periodicals - Weekly Financial Statistics - Bank of Canada
Publications and Research - Periodicals - Weekly Financial Statistics - Bank of Canada: "This document provides key banking and money market statistics. It is updated each Friday afternoon:"
RealMoney Radio Mailbag: Turn On Activision
RealMoney Radio Mailbag: Turn Off Activision: "James J. Cramer: While I believe the video game industry's fortunes will turn soon, I prefer Electronic Arts (ERTS:Nasdaq - commentary - research - Cramer's Take) to Activision due to its superior product lineup. I believe the recent decline in Electronic Arts has taken out some of the risk, and I would be a buyer here."
I think I'll follow the George Costanza rule of thumb and disagree here, Jim. booyah!
Activision Xbox 360: Call of Duty 2, Quake 4, X-Men, Tony Hawk, Gun
EA: 360 Sports games (Madden, Fifa, Tiger, Fight Night)
I think Jim's a football fan. Most of the guys I know would be buying Call of Duty 2 over Madden.
Both companies have 0 debt & lots of cash.
EA Quarterly Earnings Growth: -47.40%
Activision Quarterly Earnings Growth: N/A?
Activision 10-day vol of 9.7M
EA 10-day of 4.7M
EA @ 53.37
ATVI @ 13.51 (After a bunch of splits.)
EA - 16 SEC filings
ATVI - 26.
After reading Masters of Doom, about the two guys who founded id software, it seems like Activision would be the better play of the two. EA seems like a monolith, with 6,100 employees vs. Activision's 1,728.
Of course, EA has The Sims.... and TakeTwo owns Rockstar Games... hmm... TakeTwo...
TakeTwo has 1,435 employees, and (only) 1.25B market cap.
P/E is only 15.37 for take-two. 44 for both atvi & erts. Is TakeTwo the underdog here?
Of course, Jack Johnson bought some stock to go to the shareholders meetings to protest. But PT Barnum would approve of the publicity...
TakeTwo has no Xbox 360 games though??? Also, TakeTwo's site doesn't distinguish between platforms like the other two, which seemed to be ripping off each other's ideas.
I still like the old Atari & Intellivision games, so I think Activision may still have something left.
Atlantis, Barnstorming, Boxing, Chopper Command, Crackpot, Cosmic Commuter, Dolphin, Dragster, Enduro, Fishing Derby, Freeway, Frostbite, Grand Prix, HERO, Ice Hockey, Kaboom!, Keystone Kapers, Laser Blast, Megamania, Pitfall, Plaque Attack, River Raid, River Raid II, Seaquest, Skiing, Sky Jinx, Spider Fighter, Stampede, Starmaster, and Tennis.
I think I'll follow the George Costanza rule of thumb and disagree here, Jim. booyah!
Activision Xbox 360: Call of Duty 2, Quake 4, X-Men, Tony Hawk, Gun
EA: 360 Sports games (Madden, Fifa, Tiger, Fight Night)
I think Jim's a football fan. Most of the guys I know would be buying Call of Duty 2 over Madden.
Both companies have 0 debt & lots of cash.
EA Quarterly Earnings Growth: -47.40%
Activision Quarterly Earnings Growth: N/A?
Activision 10-day vol of 9.7M
EA 10-day of 4.7M
EA @ 53.37
ATVI @ 13.51 (After a bunch of splits.)
EA - 16 SEC filings
ATVI - 26.
After reading Masters of Doom, about the two guys who founded id software, it seems like Activision would be the better play of the two. EA seems like a monolith, with 6,100 employees vs. Activision's 1,728.
Of course, EA has The Sims.... and TakeTwo owns Rockstar Games... hmm... TakeTwo...
TakeTwo has 1,435 employees, and (only) 1.25B market cap.
P/E is only 15.37 for take-two. 44 for both atvi & erts. Is TakeTwo the underdog here?
Of course, Jack Johnson bought some stock to go to the shareholders meetings to protest. But PT Barnum would approve of the publicity...
TakeTwo has no Xbox 360 games though??? Also, TakeTwo's site doesn't distinguish between platforms like the other two, which seemed to be ripping off each other's ideas.
I still like the old Atari & Intellivision games, so I think Activision may still have something left.
Atlantis, Barnstorming, Boxing, Chopper Command, Crackpot, Cosmic Commuter, Dolphin, Dragster, Enduro, Fishing Derby, Freeway, Frostbite, Grand Prix, HERO, Ice Hockey, Kaboom!, Keystone Kapers, Laser Blast, Megamania, Pitfall, Plaque Attack, River Raid, River Raid II, Seaquest, Skiing, Sky Jinx, Spider Fighter, Stampede, Starmaster, and Tennis.
Why banks hold the highest-risk corporate debt possible
1998 -
By this time, shortcomings with the original accord's treatment of credit risk were becoming evident. The simple system of risk weightings provided an incentive for banks to hold the 0% risk-weighted debt of G-10 governments (a fact viewed with some cynicism, since those same governments were largely responsible for the original accord). However, such debt tended to be unprofitable. Far more profitable for banks was corporate debt, which was weighted 100%. With all corporate debt being weighted equally, it made sense for banks to hold the most risky corporate debt. Higher quality corporate debt incurred exactly the same capital charges but was less profitable.
During this period, markets for credit derivatives and securitizations grew explosively. It was an open secret that banks were employing these to take advantage of shortcomings in the 1988 Accord's crude system of risk weights. This practice is called regulatory arbitrage.
Another issue during this period was operational risk. Operational risk poses significant risk for banks. It includes a variety of contingencies including fraud—and fraud is routinely a factor in bank failures. Neither the original Basel Accord nor the 1996 Amendment required capital for operational risk.
In January 1999, the Basel Committee proposed a new capital accord, which has come to be known as Basel II. There followed an extensive consultative period, with the committee releasing additional proposals for consultation in January 2001 and April 2003. It also conducting three quantitative impact studies to assess those proposals.
By this time, shortcomings with the original accord's treatment of credit risk were becoming evident. The simple system of risk weightings provided an incentive for banks to hold the 0% risk-weighted debt of G-10 governments (a fact viewed with some cynicism, since those same governments were largely responsible for the original accord). However, such debt tended to be unprofitable. Far more profitable for banks was corporate debt, which was weighted 100%. With all corporate debt being weighted equally, it made sense for banks to hold the most risky corporate debt. Higher quality corporate debt incurred exactly the same capital charges but was less profitable.
During this period, markets for credit derivatives and securitizations grew explosively. It was an open secret that banks were employing these to take advantage of shortcomings in the 1988 Accord's crude system of risk weights. This practice is called regulatory arbitrage.
Another issue during this period was operational risk. Operational risk poses significant risk for banks. It includes a variety of contingencies including fraud—and fraud is routinely a factor in bank failures. Neither the original Basel Accord nor the 1996 Amendment required capital for operational risk.
In January 1999, the Basel Committee proposed a new capital accord, which has come to be known as Basel II. There followed an extensive consultative period, with the committee releasing additional proposals for consultation in January 2001 and April 2003. It also conducting three quantitative impact studies to assess those proposals.
The time value of money
riskglossary.com
The present value of a dollar to be received in a year is less than the present value of that dollar if it were received today. We call this the time value of money. Financial markets use spot curves, forward curves, discount curves and yield curves to describe the time value of money. These are referred to collectively as the fixed income term structure. This article defines these notions.
A cash loan is a loan that commences immediately. A spot loan is a loan that commences spot. A forward loan is one that commences on some date later than spot. For example, in the Eurodollar markets a three-month spot loan commences in two business days (spot) and matures three months after that. A 27 forward loan commences two months from the spot date and lasts for five months. With either type of loan, interest can be paid periodically or it can be accumulated and paid at maturity.
A spot interest rate for maturity m is an interest rate payable on a spot loan of maturity m that accumulates interest to maturity. Spot rates are sometimes called zero-coupon rates because they are the rates of interest payable on obligations that accumulate all interest to maturity. Libor rates for maturities of a week or more are spot rates.
The present value of a dollar to be received in a year is less than the present value of that dollar if it were received today. We call this the time value of money. Financial markets use spot curves, forward curves, discount curves and yield curves to describe the time value of money. These are referred to collectively as the fixed income term structure. This article defines these notions.
A cash loan is a loan that commences immediately. A spot loan is a loan that commences spot. A forward loan is one that commences on some date later than spot. For example, in the Eurodollar markets a three-month spot loan commences in two business days (spot) and matures three months after that. A 27 forward loan commences two months from the spot date and lasts for five months. With either type of loan, interest can be paid periodically or it can be accumulated and paid at maturity.
A spot interest rate for maturity m is an interest rate payable on a spot loan of maturity m that accumulates interest to maturity. Spot rates are sometimes called zero-coupon rates because they are the rates of interest payable on obligations that accumulate all interest to maturity. Libor rates for maturities of a week or more are spot rates.
The most expensive training out there?
Master's in Financial Engineering (MFE) Program - Certificate in Financial Engineering: "Haas Certificate in Financial Engineering
If you cannot afford 12 months away from work to get up to speed with the new developments in the fast evolving field of financial engineering, we invite you to enroll in an intensive one-month certificate program.
The Haas Certificate in Financial Engineering (CFE) program provides investment professionals with the state-of-the-art skills in financial engineering that have recently revolutionized the finance field. The CFE program is a new one-month intensive course taught by the top Haas Finance Faculty, creators of the highly successful Berkeley Master�s in Financial Engineering program. The program is presented in two 2-week modules, both of which must be completed to receive the certificate. "
If you cannot afford 12 months away from work to get up to speed with the new developments in the fast evolving field of financial engineering, we invite you to enroll in an intensive one-month certificate program.
The Haas Certificate in Financial Engineering (CFE) program provides investment professionals with the state-of-the-art skills in financial engineering that have recently revolutionized the finance field. The CFE program is a new one-month intensive course taught by the top Haas Finance Faculty, creators of the highly successful Berkeley Master�s in Financial Engineering program. The program is presented in two 2-week modules, both of which must be completed to receive the certificate. "
Why pizza is unhealthy in small slices
The Pizza Theory of Business Valuation: "The Pizza Story
Imagine that you have gone to a pizza restaurant with a very hungry friend. You are sitting at your table waiting impatiently for the waiter to take your order. The waiter eventually arrives and takes your order. He, then, turns to your friend, who is, by now, quite starved. Your friend tells the waiter:"
"Please get me a cheese pizza as quickly as you can and because I am very hungry today, please make sure that the Chef cuts my pizza into twelve slices instead of eight."
The waiter looks at your friend in a puzzled way, scratches his head and walks towards the kitchen. Equally puzzled, you ask your friend to explain his irrational behaviour. He tells you:
"If I request that my pizza be cut into twelve slices instead of the usual eight, then the total amount of pizza I will get to eat will be more than before. The size of my pizza depends upon the number of slices it is cut into. If you don't believe me, take a look at what happens in the corporate world and the stockmarket."
Imagine that you have gone to a pizza restaurant with a very hungry friend. You are sitting at your table waiting impatiently for the waiter to take your order. The waiter eventually arrives and takes your order. He, then, turns to your friend, who is, by now, quite starved. Your friend tells the waiter:"
"Please get me a cheese pizza as quickly as you can and because I am very hungry today, please make sure that the Chef cuts my pizza into twelve slices instead of eight."
The waiter looks at your friend in a puzzled way, scratches his head and walks towards the kitchen. Equally puzzled, you ask your friend to explain his irrational behaviour. He tells you:
"If I request that my pizza be cut into twelve slices instead of the usual eight, then the total amount of pizza I will get to eat will be more than before. The size of my pizza depends upon the number of slices it is cut into. If you don't believe me, take a look at what happens in the corporate world and the stockmarket."
Thursday, December 22, 2005
Why investing is a lot like my golf game
Investing is a loser's game: "Amateur tennis, Dr Ramo found, is almost entirely different. Brilliant shots, long and exciting rallies, and seemingly miraculous recoveries are few and far between. On the other hand, the ball is fairly often hit into the nets or out of the boundary, and double faults at service are not uncommon. The amateur duffer seldom beats his opponent, but he beats himself all the time. When two amateurs are playing each other, the victor in the game of tennis gets a higher score because his opponent is losing even more points."
Tuesday, December 20, 2005
Bill Cara GICS: Overview
"The mere fact you think that securities trading is 'investing' is testament to the fact the sell-side has educated you to think in terms of them creating products and you buying them, and holding them.
If you want to invest in a company’s assets and operations, which is a direct investment, then you must study the company from the bottom up--i.e., balance sheet and income statement.
But if you want to trade in securities for purposes of creating wealth from portfolio investing, then you must first and foremost study the market from the top down, and that requires understanding the structure of markets.
And you were taught to believe that portfolio investing required a bottom-up approach. Ha!"
If you want to invest in a company’s assets and operations, which is a direct investment, then you must study the company from the bottom up--i.e., balance sheet and income statement.
But if you want to trade in securities for purposes of creating wealth from portfolio investing, then you must first and foremost study the market from the top down, and that requires understanding the structure of markets.
And you were taught to believe that portfolio investing required a bottom-up approach. Ha!"
This is my new-found expert on Berkshire, Richard Losch, and his family.
Just found his web site and it has some excellent information on Berkshire Hathaway, its holdings, and further information on the markets. His last few letters have a negative spin to them, but I'm assuming because the market isn't really making a whole lot of sense (or returns) for the seasoned value investor. In addition, there's that "little" problem with China owning so much of the US it's not funny, plus the US dollar's loss over the last few years.
I'll be following his site closely. Looks like a great resource. Plus he's from Omaha, so he must be trustworthy. :)
On his friend who is a mortgage broker:
Losch Management - Client Letters - September 2005: "He is a happy camper with his present company because if a customer comes in with a FICO score of 700 or better, he can get a no documentation loan for 100% of the appraisal. (He said that he knew some good appraisers.) I asked what was clearly a stupid question. 'What kind debt-to-income ratio did the borrower have to show to get approved?' He gave me a look clearly reserved for the hopelessly naive and pointed out that since there was no documentation required, no application was ever submitted that did not show enough income. As Charlie says, 'All human systems are gamed.' Now as far as human misjudgment is concerned, in addition to the lollapalooza effect mentioned earlier, we have a big nasty lump of incentive-caused bias added."
Losch Management - Home: "It says something about the nature of the current market when it is easier to make money by taking short-term gains than it is with buy and hold. We much prefer the long term buy-hold approach (provides us with more leisure time). However, with the capital markets flooded with surplus investment funds from all over the world, we see little chance that the returns will be any better this year than it was last year."
Losch Management - Client Letters - November 2005: "The current bull market that began in January of 2003 is now about three years old, and by traditional standards would be considered to be getting a bit long of tooth. Re-enforcing this view is the fact that most of the gain was in the first 12 months of the rally. Whereas for the last two years the market has mostly been range bound. Currently there is a division of opinion between the bulls who feel the market is ready to break out of its trading range and ascend skyward and the bears who claim that the sky is about to fall in."
Sunday, December 18, 2005
Sanjay Bakshi: "I am a combination of a chartered accountant, a value investor, a hostile takeover artist, a shareholder activist, and a finance professor. So you can see my world revolves around high finance. But high finance is not the most beautiful thing in the world. That space is reserved for Aishwarya Rai, the most beautiful woman in the world. I am a fan."
Warren Buffet - Tuck Investment Club: "Summary:
For the 2nd consecutive year, 49 second-year Tuck students and Professor Robert Howell flew to Omaha, Nebraska for a two-hour Q&A session with legendary investor Warren Buffett, Chairman of Berkshire Hathaway. Mr. Buffett took us all to lunch at Gorat's steakhouse after our meeting. Prior to our meeting we took a private tour of Berkshire-owned Nebraska Furniture Mart with EVP Bob Batt. "
For the 2nd consecutive year, 49 second-year Tuck students and Professor Robert Howell flew to Omaha, Nebraska for a two-hour Q&A session with legendary investor Warren Buffett, Chairman of Berkshire Hathaway. Mr. Buffett took us all to lunch at Gorat's steakhouse after our meeting. Prior to our meeting we took a private tour of Berkshire-owned Nebraska Furniture Mart with EVP Bob Batt. "
CBC News Indepth: Gold: "Should I buy gold and if so, how can I get some?
Financial planners generally advise their clients who want a stake in gold to keep their precious metals holdings to a small part of their overall portfolio � at most five or 10 per cent.
There are many ways to acquire gold. You can buy gold coins, gold wafers or bars, or gold certificates. "
Financial planners generally advise their clients who want a stake in gold to keep their precious metals holdings to a small part of their overall portfolio � at most five or 10 per cent.
There are many ways to acquire gold. You can buy gold coins, gold wafers or bars, or gold certificates. "
DeepWealth: "In fact, the properties required of money were first described by Aristotle in the fourth century BCE.
It is durable. It won't evaporate, mildew, rust, crumble, break, or rot. Gold, more than any other solid element, is chemically inert. This is why foodstuffs, oil or artwork can't be used as money.
It is divisible. One ounce of gold-whether bullion, coin, or dust-is worth exactly 1/100th of one hundred ounces. When a diamond is split, its value may be destroyed. You can't make change for a piece of land.
It is convenient. Gold allows its owner physically to carry the wealth of a lifetime with him. Real estate stays where it is. An equivalent value of copper, lead, zinc, silver, and most other metals would be too heavy.
It is consistent. Only one grade exists for 24-carat gold, so there is no danger of owning 24-carat gold varying in quality. Twenty-four-carat gold (pure gold) is the same in every time and place since gold is a natural element, unlike gems, artwork, land, grain, or other commodities.
It has intrinsic value. Gold finds new industrial uses each year. Of all the metals, it is the most malleable (able to be hammered into sheets less than 5-millionths of an inch thick), most ductile (a single ounce can be drawn into a wire 35 miles long), and the least reactive (it can stand indefinite immersion in seawater, does not tarnish in air, and can withstand almost any acid). Next to silver, it's the most conductive of heat and electricity and the most reflective of light.
One important last point was not listed by Aristotle, probably only because he lived before the creation of paper and banking.
Gold cannot be created by government. Gold can, of course, be debased with impurities or falsified in weight, and governments strapped for revenue have tried those tricks. "
It is durable. It won't evaporate, mildew, rust, crumble, break, or rot. Gold, more than any other solid element, is chemically inert. This is why foodstuffs, oil or artwork can't be used as money.
It is divisible. One ounce of gold-whether bullion, coin, or dust-is worth exactly 1/100th of one hundred ounces. When a diamond is split, its value may be destroyed. You can't make change for a piece of land.
It is convenient. Gold allows its owner physically to carry the wealth of a lifetime with him. Real estate stays where it is. An equivalent value of copper, lead, zinc, silver, and most other metals would be too heavy.
It is consistent. Only one grade exists for 24-carat gold, so there is no danger of owning 24-carat gold varying in quality. Twenty-four-carat gold (pure gold) is the same in every time and place since gold is a natural element, unlike gems, artwork, land, grain, or other commodities.
It has intrinsic value. Gold finds new industrial uses each year. Of all the metals, it is the most malleable (able to be hammered into sheets less than 5-millionths of an inch thick), most ductile (a single ounce can be drawn into a wire 35 miles long), and the least reactive (it can stand indefinite immersion in seawater, does not tarnish in air, and can withstand almost any acid). Next to silver, it's the most conductive of heat and electricity and the most reflective of light.
One important last point was not listed by Aristotle, probably only because he lived before the creation of paper and banking.
Gold cannot be created by government. Gold can, of course, be debased with impurities or falsified in weight, and governments strapped for revenue have tried those tricks. "
Jackpot!: "Red Herring Announces Inaugural Red Herring Small Cap 100 List
Monday December 12, 12:02 am ET
Winners Will Be Honored at the Red Herring Fall 2005 Conference
SAN FRANCISCO, CA--(MARKET WIRE)--Dec 12, 2005 -- Red Herring announced today its first Red Herring Small Cap 100 list. The editors of the Red Herring evaluated over 2,500 publicly traded technology companies with market capitalizations of between US$300 million and US$1 billion from North America, Europe and the Asia-Pacific region."
Monday December 12, 12:02 am ET
Winners Will Be Honored at the Red Herring Fall 2005 Conference
SAN FRANCISCO, CA--(MARKET WIRE)--Dec 12, 2005 -- Red Herring announced today its first Red Herring Small Cap 100 list. The editors of the Red Herring evaluated over 2,500 publicly traded technology companies with market capitalizations of between US$300 million and US$1 billion from North America, Europe and the Asia-Pacific region."
DeepWealth: ">Investment Axioms
Some axioms based on several excellent books on the vast and fascinating subject of stock market investment like 'One Up the Wall Street'; 'Beating the Street'; both by Peter Lynch; 'Zulu Principle' by Jim Slater; 'The Warren Buffet Way'; to name only a few of them.
Axiom One:
Where there is profit, there is always risk. Greater the opportunity of profit, greater the possibility of loss:
There is a close direct relationship between the risk and the reward. Higher the reward, greater the risk. Though this is fairly simple, it is always observed in breach.
Axiom Two:
Gentlemen who prefer BONDS, don't know what they are missing. On Bonds, there is no return ON our money; there is only return OF our money:
Bonds being Debt instruments unlike equity, yield only fixed return and with inflation and income tax factored in, there is often no return at all.
Axiom Three:
Equity Investment is 'risk' investment:
Investing in equity shares of companies is risk related because returns are linked to the company's profits unlike investing in bank deposits or bonds or debentures where the returns are fixed and accrue to investors regardless of the company's profits.
Axiom Four:
Stock market behaviour is unpredictable:
Stock market behaviour is dependent on human behaviour and since times immemorial, it has been established that human behaviour can never be predicted with any reasonable accuracy; and hence we have fluctuations in prices of commodities, things and stocks based on greed, emotions, hopes, fantasies, fear and dreams resulting in opportunities of making money out of such fluctuations!
Axiom Five:
ot all common stocks are common:
Though equity shares as an investment class is one, each company has a distinc"
Some axioms based on several excellent books on the vast and fascinating subject of stock market investment like 'One Up the Wall Street'; 'Beating the Street'; both by Peter Lynch; 'Zulu Principle' by Jim Slater; 'The Warren Buffet Way'; to name only a few of them.
Axiom One:
Where there is profit, there is always risk. Greater the opportunity of profit, greater the possibility of loss:
There is a close direct relationship between the risk and the reward. Higher the reward, greater the risk. Though this is fairly simple, it is always observed in breach.
Axiom Two:
Gentlemen who prefer BONDS, don't know what they are missing. On Bonds, there is no return ON our money; there is only return OF our money:
Bonds being Debt instruments unlike equity, yield only fixed return and with inflation and income tax factored in, there is often no return at all.
Axiom Three:
Equity Investment is 'risk' investment:
Investing in equity shares of companies is risk related because returns are linked to the company's profits unlike investing in bank deposits or bonds or debentures where the returns are fixed and accrue to investors regardless of the company's profits.
Axiom Four:
Stock market behaviour is unpredictable:
Stock market behaviour is dependent on human behaviour and since times immemorial, it has been established that human behaviour can never be predicted with any reasonable accuracy; and hence we have fluctuations in prices of commodities, things and stocks based on greed, emotions, hopes, fantasies, fear and dreams resulting in opportunities of making money out of such fluctuations!
Axiom Five:
ot all common stocks are common:
Though equity shares as an investment class is one, each company has a distinc"
Shai Dardashti on Grahamian Value: Value Investing in 2005 is *not* strictly an American game anymore.: "At the 2005 Berkshire meeting, Warren Buffett said simply that the age at which one begins investing is the best determinant of success. Not IQ. Value investors of Indian and Asian descent are
(a) starting much younger than American, (as per point #1)
(b) just as smart (as per point #2)
(c) very, very dedicated. (as per point #3)"
(a) starting much younger than American, (as per point #1)
(b) just as smart (as per point #2)
(c) very, very dedicated. (as per point #3)"
Tuesday, December 13, 2005
Wednesday, November 09, 2005
Configuring the Pivot Component: "Configuring the Pivot Component
By ashvinis
Published: 10/26/2005
Reader Level: Intermediate
Rated: This article has not yet been rated.
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Printable Version
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Sometimes coincidences happen that make you sit back and say Hmm. Couple of days back Ovidiu, one of our senior developers, came by and asked me to blog about the Pivot transform. Then earlier today someone doing a high end POC down south need the same information. Hmm.
Pivot transform converts rows into columns. One of the items we will likely not be able to attend to for SQL Server 2005 is a custom user interface for this transform. Thanks to the advanced UI this component is still configurable but that exposes the guts of the transform and perhaps more than you wanted to know. The steps are not pretty but it's better to have such information released than have folks not use features because they don't know how to set it up.
Until BOL gets more in depth information on this topic, here're the steps to configure the Pivot transform. Thanks to Wenyang, one of my colleagues for sending these over... what a team... someone suggests what to write about, someone else writes it up, and I get the limelight.
The Pivot transform converts data that is organized like this:
Table 1:
CustomerProductQty.
SamHam2
SamMilk1
SamBeer6
JoeMilk2
JoeBread1
SallyCheese16
Into similar data that is organized like this:
Table 2:
CustomerHamQtyMilkQtyBeerQtyBreadQtyCheeseQty
Sam21600
Joe02010
Sally000016
Steps:
1. Assume that the data flow contains a path with the three columns and shape of data that is show "
By ashvinis
Published: 10/26/2005
Reader Level: Intermediate
Rated: This article has not yet been rated.
Be the first to rate it! Tell a Friend
Rate this Article
Printable Version
Discuss in the Forums
Sometimes coincidences happen that make you sit back and say Hmm. Couple of days back Ovidiu, one of our senior developers, came by and asked me to blog about the Pivot transform. Then earlier today someone doing a high end POC down south need the same information. Hmm.
Pivot transform converts rows into columns. One of the items we will likely not be able to attend to for SQL Server 2005 is a custom user interface for this transform. Thanks to the advanced UI this component is still configurable but that exposes the guts of the transform and perhaps more than you wanted to know. The steps are not pretty but it's better to have such information released than have folks not use features because they don't know how to set it up.
Until BOL gets more in depth information on this topic, here're the steps to configure the Pivot transform. Thanks to Wenyang, one of my colleagues for sending these over... what a team... someone suggests what to write about, someone else writes it up, and I get the limelight.
The Pivot transform converts data that is organized like this:
Table 1:
CustomerProductQty.
SamHam2
SamMilk1
SamBeer6
JoeMilk2
JoeBread1
SallyCheese16
Into similar data that is organized like this:
Table 2:
CustomerHamQtyMilkQtyBeerQtyBreadQtyCheeseQty
Sam21600
Joe02010
Sally000016
Steps:
1. Assume that the data flow contains a path with the three columns and shape of data that is show "
Tuesday, November 08, 2005
The Escapist - Outsourcing to America: "No, to see the real threat to American industry, we need to look across the Himalayas into China.
China's one billion-strong nation is on the grow, and they've caught the industrialization bug something fierce. As factories sprout up in what were once farming fields and gas prices soar to transport goods across a landmass bigger than the continental U.S., children are being educated with a very Eastern approach to Western production. Think of post-war Japan, only with ten times as many people. The Chinese government is quickly warming up to the idea of tipping the scales of commerce in their direction, and within the next century, it's likely they're going to have a shot at doing it.
And, remarkably, they're taking a stab at gaming.
They're investing $1.8 billion dollarsin online games over the next five years alone. Consider the fact their population is quickly moving into the digital foray; that only means more customers for everybody. Combine that with their recently passed laws to curb online gaming 'addiction.' What do you see?A change in development paradigm; all of a sudden the gaming market is flooded with people forced into casual gaming, and the Chinese government is buying for $1.8 billion worth of games to fit that standard. If American companies can even hope to capture the hearts and minds of the Chinese populace, it means they're going to need to show up at the Chinese Embassy in Washington, D.C., with some very revolutionary ideas on how to make a good online game. And it has to be more than a money grab if they want to remain in the land of a thousand dynasties for any discernable length of time.
But the Chinese aren't going to pay for games developed externally. Why would they? Part of a country's investment in homegrown production is the return will potentially increase their GD"
China's one billion-strong nation is on the grow, and they've caught the industrialization bug something fierce. As factories sprout up in what were once farming fields and gas prices soar to transport goods across a landmass bigger than the continental U.S., children are being educated with a very Eastern approach to Western production. Think of post-war Japan, only with ten times as many people. The Chinese government is quickly warming up to the idea of tipping the scales of commerce in their direction, and within the next century, it's likely they're going to have a shot at doing it.
And, remarkably, they're taking a stab at gaming.
They're investing $1.8 billion dollarsin online games over the next five years alone. Consider the fact their population is quickly moving into the digital foray; that only means more customers for everybody. Combine that with their recently passed laws to curb online gaming 'addiction.' What do you see?A change in development paradigm; all of a sudden the gaming market is flooded with people forced into casual gaming, and the Chinese government is buying for $1.8 billion worth of games to fit that standard. If American companies can even hope to capture the hearts and minds of the Chinese populace, it means they're going to need to show up at the Chinese Embassy in Washington, D.C., with some very revolutionary ideas on how to make a good online game. And it has to be more than a money grab if they want to remain in the land of a thousand dynasties for any discernable length of time.
But the Chinese aren't going to pay for games developed externally. Why would they? Part of a country's investment in homegrown production is the return will potentially increase their GD"
Friday, November 04, 2005
Wednesday, November 02, 2005
The original stock markets evolved from coffee houses where investors would meet and swap paper over coffee. Gradually, as volumes grew, the participants at the coffee tables became agents for others. Eventually, the coffee houses were replaced with full scale trading floors which evolved into the sophisticated web-based trading systems we use today. Well, you can still do it the old way, and I sometimes do. It's a slow, somewhat painful process which instills (in me anyway) a sense of nostalgia and history. Trading shares directly over the table with family and friends can save you a little money (no transaction costs!) and it can be fun.Link
Monday, October 31, 2005
DIRC Message Board - Read Message.
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DRiPs Message Boards
Board: Share Exchange Date: 8/13/2005 10:43:42 PM
Author: mac0118
Subject: 635/880 - you may find this funy buuut......
<= Previous Post Response Post New Next =>
Message: 45
smallpig36 on 8/12/2005 4:29:22 PM
Hello all,
i received my bmo sharein the mail today from
Kris.
my name and address are on the back in the transferred to section
hmmmmmmmmmmmm now what do I do?
is this mine or is there more paperwork?
small pig 36 aka piggie just trying to get by.
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maddybeagle on 8/12/2005 4:44:26 PM
for the certificates, you have to fill in your info. on the back and mail back to the transfer agent. I think the transfer agent has forms too that you can download. I just started enbridge with a certificate and there was a form and you can include a ocp and mail back. I printed out one of those "anti-money laundering" thingees too so hopefully they dont bother me again;)
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OperaBob on 8/12/2005 5:58:34 PM
piggie,
i received my bmo sharein the mail today from
Kris.
my name and address are on the back in the transferred to section
hmmmmmmmmmmmm now what do I do?
is this mine or is there more paperwork?
Assuming Kris signed it a had his signature guaranteed just mail it to Computershare and to be registered in the DRIP. (You might be able to download a registration off the website).
ComputerShare
9th Floor, 100 University Avenue
Toronto, ON, M5J 2Y1
1-800-340-5021
You could try sending in your first OCP at the same time but I'm not sure how the new Anti_Money Laundering form affects that. CS personalizes these forms but they might have a generic on the website.
Congratulations.
OB
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OperaBob on 8/12/2005 5:59:51 PM
One other thing.
I just send them regular mail but photocopy them first to cover loss. CS will send the single with your name on it regular mail.
OB
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bucejos on 8/12/2005 6:51:49 PM
They will accept your first OCP payment without the anti-money laundering form. And I do not believe that CS has a generic one like CIBC Mellon does.
Jose
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mac0118 on 8/12/2005 10:58:31 PM
Piggie,
I just sent mine in with my DRIP/OCP registration form with OCP cheque. One thing is that I didn't find the registration form on the website. The only option you have is to select an option for them to send you the documentation and registration form by mail. I did this about a month ago so that it would be here by the time the share arrived by mail. This doesn't stop you from forwarding the share cert. for processing and forwarding back to you.
OB, I don't photocopy the share certs before sending. I do copy the certificate number and previous owner info for reference. As I'm aware, only the registered owner can request a replacement if lost. If they never receive it not sure what photocopying will do for you.
Is there something I'm missing?
Mac
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OperaBob on 8/13/2005 12:48:56 AM
Mac,
I photocopy so I can place it in my file folder as I have a tendency to lose the little pieces of paper I write the numders on.
OB
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Setepen2 on 8/13/2005 9:44:55 PM
I am really glad you started this thread, because I had the same questions. I also got my BMO (thanks Kris!). I asked for the authorization forms form Computershare to be mailed to me but I guess it will take some time. If I understand correctly, I can mail the BMO share right away and they will start the DRIP ?
Thanks!
Set
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Setepen2 on 8/13/2005 9:57:35 PM
One more newbie question... since this will be my first Canadian drip :) Does computershare allow OCPs by internet transfer like AST&T does, or will I have to mail in cheques every time the old fashioned way ?
Set
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mac0118 on 8/13/2005 10:43:42 PM
"If I understand correctly, I can mail the BMO share right away and they will start the DRIP ?"
Answer: They will register the one share in your name but they won't setup the DRIP until you send in the DRIP registration form once it arrives in the mail.
"Does computershare allow OCPs by internet transfer like AST&T does, or will I have to mail in cheques every time the old fashioned way ?"
Answer: No internet transfers. We're old fashioned here is Canada. After all, we have to keep Canada Post in business somehow.
Mac
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toolsntoys4u on 8/13/2005 11:32:55 PM
Set
once you get the authorization form for BMO DRIP would you be able to email it or fax it to me please?
tools
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maddybeagle on 8/14/2005 12:07:44 AM
https://www-us.computershare.com/investor/plans/planslist.asp?planid=83&state=eStateDisplayPlanSummary
It doesnt look like you can download the "stuff", but can request by mail to start...
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kwidla on 8/14/2005 12:33:45 PM
OB,
For Computershare you can send first OCP, without "money-laundering" paperwork. After that they will not accept any more without that form.
I'm still waiting for them to send me that form, as I can't find it on the net.
Smallpig,
Please send them also a short letter explaining what you want them to do (Transfer share to your name, and enroll in a DRIP).
Kris
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kwidla on 8/14/2005 12:36:08 PM
Set,
You will have to mail in the cheque. I already asked them.
Kris
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kwidla on 8/14/2005 1:26:32 PM
Small pig,
I had few options on how to get shares from me to you.
I decided to get 12 single certificates, so that I would send each individual one certificate, and than they would "be in control".
If something goes wrong, only one person would be affected (versus 12).
I could send single shares to people as they send me cheques (they and I didn't have to wait for everyone to get it done, as some people did it quickly, and some slower).
Nobody is thinking what is going on, and asking me questions, as they now know what is going on, and they can ask TA (Computershare) of what is happening, and when they can expect to recieve their certificate, as well as send OCP if they wish to do that.
Please understand that this is a long process, and 12 people were involved. If you have any questions please e-mail me, and I will try to help.
In the mean time MAKE SURE everything in the back of the certificate is as it should be (your name, address, etc.) Please also ADD your SIN (social insurance number) (hey this is not going to me, but to the TA that will require it for tax purpouses). And get your DRIP started by sending OCP (if that is what you wish to do)!
Good luck to all.
KRIS
PS. I hope that people can appreciate that it was easier for me, and in my opinion a little better for them.
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IKan on 8/14/2005 3:08:05 PM
In the mean time MAKE SURE everything in the back of the certificate is as it should be (your name, address, etc.) Please also ADD your SIN (social insurance number) (hey this is not going to me, but to the TA that will require it for tax purpouses). And get your DRIP started by sending OCP (if that is what you wish to do)!
I have bought single shares from people before and have never had to put my SIN on the back of a certificate or give it out to anyone other than the transfer agent. You can do that afterwards via the phone or the TA's secure internet.
I just bought a BMO share from gitterm via Interact E-mail Money Transfer which is via the major banks. I get none of his person banking info and vise versa. It took approximately 15 minutes for him to receive the money into his bank account from start to finish.
It went like this: I asked him via email if he would sell me one share. He emailed me the total price. I went to my banks website and sent him the cash. Done deal. Just like that!
I do not understand why you guys are going the cheque & mail route. I will simply get a share certificate from the TA in a few weeks. He does not have to mail anything to me! I can check at the TA's website occasionally and see when a share is registered in my name, and then I know it will arrive via the mail in 1 - 2 weeks.
That is the way it worked when I got my BNS.
IKan
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IKan on 8/14/2005 3:18:20 PM
I should add 2 things:
1). I do give the name and address that I want on the share certificate to the seller via e-mail. Also we exchange phone #'s just in case we need to talk.
2). With the Interact E-mail Money Transfer the sender does enter a question with the transfer and the sender is then supposed to phone the recipient with the answer to the question so they can receive the money. My questions to date have been quite obvious the last couple times with gitterm and I did not have to phone him this last time. I do email him to let him know I have sent the money. He would e-mail or phone me if there was a problem. I (the sender) do get a received confirmation email from the bank once the transfer is completed successfully.
IKan
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mac0118 on 8/14/2005 4:01:28 PM
IKAN,
This works great for people who deal with one of the "big 5" banks. This option is not available at smaller institutions. I would hate to see this as the only accepted method of cash transfer in the future.
Mac
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mac0118 on 8/14/2005 4:26:46 PM
IKAN
"I do not understand why you guys are going the cheque & mail route."
Even if I had the oportunity to use email cheques, I don't think that I would for security reasons. I'm still not comfortable with the level of security our banks are offering in relation to on-line banking and internet purchases.
Cases in point......
http://www.theregister.co.uk/2005/06/20/mastercard_phishing/
http://www.theregister.co.uk/2005/06/21/mastercard_follow-up/
Until they can clean up some of their security issues...I'll stick with cheque, envelope and a stamp.
Old Fashioned Mac
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IKan on 8/14/2005 5:45:01 PM
Good points Mac.
However, as we all know nothing is 100% secure.
Once a cheque is given so is the branch and account #, along with your signature. Easy to replicate from this point.
Providing Canada Post gets it to the intended destination.
I do not know if other financial institutions beyond the 5 major CDN. banks offer on-line transfers of varying types.
No matter which financial institution is used they all use electronic means to transfer the money. Even in response to a cheque. So all money is exposed to electronic pros & cons (no pun intended). Unless you deliver it cash-in-hand. Even then you can get fraudulent bills.
So we all do whatever we are comfortable with and have luck with.
Have a great day.
IKan
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mac0118 on 8/14/2005 6:40:24 PM
IKan wrote....
"However, as we all know nothing is 100% secure."
True...but the internet makes it so much faster.
IKan wrote....
"Once a cheque is given so is the branch and account #, along with your signature. Easy to replicate from this point."
Not as easy now that the watermarks on the cheques cannot be copied. This can be spotted by a teller a mile away. And if they don't catch it...it's their fault not mine. My money will be refunded.
IKan wrote....
"Providing Canada Post gets it to the intended destination."
Providing your email reaches the intended recipient. Remember... a record of your transaction/emails are kept not only by you but the internet provider and the companies that provide the internet backbone, your bank, etc., etc., etc.
IKan said....
"My questions to date have been quite obvious the last couple times with gitterm and I did not have to phone him this last time."
Does this mean that if I intercepted your email, I could guess the answer to the question? If so, I presume that the bank could imply that the security breach was assisted by your "obvious" question and easy answer. Would they make you accountable and not refund your money?
Just my suggestion but if I were you, I'd make the questions not so obvious and follow up with the phone call. That's probably the most important part of the security feature you have.
Signed....Little Old Cheque Writer Me
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IKan on 8/14/2005 7:05:57 PM
"My questions to date have been quite obvious the last couple times with gitterm and I did not have to phone him this last time."
Does this mean that if I intercepted your email, I could guess the answer to the question? If so, I presume that the bank could imply that the security breach was assisted by your "obvious" question and easy answer. Would they make you accountable and not refund your money?
Just my suggestion but if I were you, I'd make the questions not so obvious and follow up with the phone call. That's probably the most important part of the security feature you have.
Signed....Little Old Cheque Writer Me
You are absolutely correct. I agree 100%.
However, at the time I wasn't too worried about the price of 1 share going astray. Foolish? Ya, but we all have spent and lost money more foolishly. Since we are killing time writing this (I do not mean to lower the priority of this topic just that no one wins, it is only opinions and thoughts), call it a form of gambling from someone who would never set foot in a casino and can live solely off his investments.
Heck with all the personal type info. some people put on these sites I suspect an evil minded person could reck havoc if they wanted too.
Money has watermarks and hollowgraphgs (spelling?) too but they still get by the banks and many people that handle money.
Some people cannot even use the detectors correctly I have read. I was in an insurance office recently and four of the staff where hovering over a new bill detector. They all had a different idea of how to use it. They had been trained recently. I left after approx. 15 minutes at which time they still didn't know if the bill was a fraud or not. It was a bill one of them had pulled from their own pocket. The point being that it all is human made and human managed. So there is room for errors and errors will be made as will fraud take place. Cheque, internet, electronic or cash.
Whatever works for a person is what they should use I feel. I didn't intend to offend anyone if I did.
There is no right or wrong way IMO, just different ways.
IKan
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mac0118 on 8/14/2005 8:14:49 PM
IKan,
No one offended. Your right...different stroke for different folks. And your right a no win discussion. Nuff said.
Have a great day.
Mac
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Setepen2 on 8/14/2005 8:37:39 PM
Tools,
I'll let you know when I'll receive the papers in the mail. However, here is the link if you want to request them yourself:
https://www-us.computershare.com/investor/plans/planslist.asp
Choose bank of Montreal from the column on your right and then select materials by mail on the BMO info page.
Set
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kwidla on 8/15/2005 9:27:20 AM
IKan,
I just tried to get people started with their DRIPs, as I got help to get started. I am not as comfortable giving away my bank account number, or sending my money electronically to someone I do not really know. That is just me.
I didn't really care how people send me money, and almost all options were provided. Most people send cheques. It's just a fact.
Afterwords I did what I was comfortable with, and send them a single share certificates. Now they will send that to TA. While they are sending it to the TA, they might as well include SIN to get as much paperwork out of the way as possible.
Yes, there is a chance that Canada Post will lose their mail, but they can send it register mail (if that is what they want).
Just to let you know, I did buy a share of BNS from Matt, and now I am buying BCE. In first instance I send cheque, in second I deposited my cheque directly to his account. Whatever works, right?
Kris
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mac0118 on 8/15/2005 11:49:26 AM
"Whatever works, right? "
Right! Different levels of risk taking for different people. No right or wrong way. It's like investing, younger people can handle more risk than those near retirement.
I just hope that one method is not adopted as the only option available. We need all options kept open.
Mac
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kwidla on 8/15/2005 12:43:08 PM
Mac,
I consider myself younger ... (almost 34) ... but you are right, different levels of risk that people are willing to take, and at different stages (this was my first time to do group purchase).
I like all kinds of options, but I usually pay with cheque, this gives me the paper trail I am looking for.
Kris
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IKan on 8/15/2005 6:48:35 PM
I just hope that one method is not adopted as the only option available. We need all options kept open.
Very well put I think.
I think I had a bad day yesterday and feel kinda bad about my wording and approach. My apologies.
----------------------------------------------------------------
I have a question regarding share certificate signatures.
If a share certificate is not signed on the back side exactly as it is registered (printed on the front page) will the TA's still do the ownership transfer? I recall a TA a few years ago (ComputerShare or CIBC MEllon) telling me on the phone that it had to be signed exactly the same or they could not process it.
An example of not the same is:
Front Page: John Smith
Signature on back page: J. Smith
Anyone care to share their experience(s) with this?
Exact wording from the back of a share certificate,
"The signature to the assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever."
IKan
who is 44 years young.
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IKan on 8/15/2005 6:50:57 PM
Very well put I think.
Typo! Should be:
'Very well put.'
IKan
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mac0118 on 8/15/2005 9:18:04 PM
"If a share certificate is not signed on the back side exactly as it is registered"
I have never had an instance where a share cert was kicked back because of the signature not the same as the front, (mind you I think they all were the same) but knowing how "anal" TAs are with these issues, I wouldn't be suprized that they would take exception. It's probably best not to proceed in any direction that might cause these people to have to think and reason too much.
Mac
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toolsntoys4u on 8/15/2005 11:42:16 PM
i signed your share the same way i did 10 shares in CM group purchase. no one in that group had any problems whatsoever. i think all it means is that the owner should be signing the share. some people have signatures that are completely different from their actuall names, what do you do in those cases? in the end a bank guarantes a signature whatever it looks like:)
just my 2
tools. the one who singed your certificate slightly different from the name on it:)
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kwidla on 8/16/2005 10:43:38 AM
IKan,
TA could be sticky, since it is legal contract.
I had a bank tell me that my mortgage had to be signed full name, just like it is in front, not by my "real" signature ...
Kris
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codemonkeyken on 8/16/2005 10:48:33 AM
Mac & IKan,
My bank (TD) requires that my wife and I sign any share in front of the bank signing officer. As well, they always instruct us to sign it how it's spelt on the front of the share (first name, middle initial, last name). Then they check the names on the front of the share and the signatures on the back against our driver's licenses before they stamp and sign.
My advice, sign all TA correspondence (shares, anti-money laundering sheets, etc.) as they are spelt on your account/share. By doing this I have never had a problem with a TA rejecting any form.
Ken
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IKan on 8/16/2005 5:38:37 PM
I only raised the topic of signatures to see what experiences some of us have had and see what I and others might learn if anything. With the desire to help make things go as smoothly as possible in the future. It is the little details in DRIP'in I find that make the difference.
The TA's on more than one occassion have told me that the certificate must be signed the same as it is printed on the front. They said if it is spelled incorrectly on the front that the signature must match that spelling.
They also said that if an address is on the front it doesn't matter.
The name and signature is the only thing that matters.
I guess they probably do not follow their own rules (are they securities imposed laws/rules?) anymore than most other places. Since they appear to vary in what they say, and do on occasssion, per some posts here, I guess they are only as good as their staff and its training.
They sometimes do do confusing and frustrating things.
IKan
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toolsntoys4u on 8/17/2005 12:29:38 AM
ikan,
thanks for the info. something to keep in mind when transfering a share certificate.
tools
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DRiPs Message Boards
Board: Share Exchange Date: 8/13/2005 10:43:42 PM
Author: mac0118
Subject: 635/880 - you may find this funy buuut......
<= Previous Post Response Post New Next =>
Message: 45
smallpig36 on 8/12/2005 4:29:22 PM
Hello all,
i received my bmo sharein the mail today from
Kris.
my name and address are on the back in the transferred to section
hmmmmmmmmmmmm now what do I do?
is this mine or is there more paperwork?
small pig 36 aka piggie just trying to get by.
--------------------------------------------------------------------------------
maddybeagle on 8/12/2005 4:44:26 PM
for the certificates, you have to fill in your info. on the back and mail back to the transfer agent. I think the transfer agent has forms too that you can download. I just started enbridge with a certificate and there was a form and you can include a ocp and mail back. I printed out one of those "anti-money laundering" thingees too so hopefully they dont bother me again;)
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OperaBob on 8/12/2005 5:58:34 PM
piggie,
i received my bmo sharein the mail today from
Kris.
my name and address are on the back in the transferred to section
hmmmmmmmmmmmm now what do I do?
is this mine or is there more paperwork?
Assuming Kris signed it a had his signature guaranteed just mail it to Computershare and to be registered in the DRIP. (You might be able to download a registration off the website).
ComputerShare
9th Floor, 100 University Avenue
Toronto, ON, M5J 2Y1
1-800-340-5021
You could try sending in your first OCP at the same time but I'm not sure how the new Anti_Money Laundering form affects that. CS personalizes these forms but they might have a generic on the website.
Congratulations.
OB
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OperaBob on 8/12/2005 5:59:51 PM
One other thing.
I just send them regular mail but photocopy them first to cover loss. CS will send the single with your name on it regular mail.
OB
--------------------------------------------------------------------------------
bucejos on 8/12/2005 6:51:49 PM
They will accept your first OCP payment without the anti-money laundering form. And I do not believe that CS has a generic one like CIBC Mellon does.
Jose
--------------------------------------------------------------------------------
mac0118 on 8/12/2005 10:58:31 PM
Piggie,
I just sent mine in with my DRIP/OCP registration form with OCP cheque. One thing is that I didn't find the registration form on the website. The only option you have is to select an option for them to send you the documentation and registration form by mail. I did this about a month ago so that it would be here by the time the share arrived by mail. This doesn't stop you from forwarding the share cert. for processing and forwarding back to you.
OB, I don't photocopy the share certs before sending. I do copy the certificate number and previous owner info for reference. As I'm aware, only the registered owner can request a replacement if lost. If they never receive it not sure what photocopying will do for you.
Is there something I'm missing?
Mac
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OperaBob on 8/13/2005 12:48:56 AM
Mac,
I photocopy so I can place it in my file folder as I have a tendency to lose the little pieces of paper I write the numders on.
OB
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Setepen2 on 8/13/2005 9:44:55 PM
I am really glad you started this thread, because I had the same questions. I also got my BMO (thanks Kris!). I asked for the authorization forms form Computershare to be mailed to me but I guess it will take some time. If I understand correctly, I can mail the BMO share right away and they will start the DRIP ?
Thanks!
Set
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Setepen2 on 8/13/2005 9:57:35 PM
One more newbie question... since this will be my first Canadian drip :) Does computershare allow OCPs by internet transfer like AST&T does, or will I have to mail in cheques every time the old fashioned way ?
Set
--------------------------------------------------------------------------------
mac0118 on 8/13/2005 10:43:42 PM
"If I understand correctly, I can mail the BMO share right away and they will start the DRIP ?"
Answer: They will register the one share in your name but they won't setup the DRIP until you send in the DRIP registration form once it arrives in the mail.
"Does computershare allow OCPs by internet transfer like AST&T does, or will I have to mail in cheques every time the old fashioned way ?"
Answer: No internet transfers. We're old fashioned here is Canada. After all, we have to keep Canada Post in business somehow.
Mac
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toolsntoys4u on 8/13/2005 11:32:55 PM
Set
once you get the authorization form for BMO DRIP would you be able to email it or fax it to me please?
tools
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maddybeagle on 8/14/2005 12:07:44 AM
https://www-us.computershare.com/investor/plans/planslist.asp?planid=83&state=eStateDisplayPlanSummary
It doesnt look like you can download the "stuff", but can request by mail to start...
--------------------------------------------------------------------------------
kwidla on 8/14/2005 12:33:45 PM
OB,
For Computershare you can send first OCP, without "money-laundering" paperwork. After that they will not accept any more without that form.
I'm still waiting for them to send me that form, as I can't find it on the net.
Smallpig,
Please send them also a short letter explaining what you want them to do (Transfer share to your name, and enroll in a DRIP).
Kris
--------------------------------------------------------------------------------
kwidla on 8/14/2005 12:36:08 PM
Set,
You will have to mail in the cheque. I already asked them.
Kris
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kwidla on 8/14/2005 1:26:32 PM
Small pig,
I had few options on how to get shares from me to you.
I decided to get 12 single certificates, so that I would send each individual one certificate, and than they would "be in control".
If something goes wrong, only one person would be affected (versus 12).
I could send single shares to people as they send me cheques (they and I didn't have to wait for everyone to get it done, as some people did it quickly, and some slower).
Nobody is thinking what is going on, and asking me questions, as they now know what is going on, and they can ask TA (Computershare) of what is happening, and when they can expect to recieve their certificate, as well as send OCP if they wish to do that.
Please understand that this is a long process, and 12 people were involved. If you have any questions please e-mail me, and I will try to help.
In the mean time MAKE SURE everything in the back of the certificate is as it should be (your name, address, etc.) Please also ADD your SIN (social insurance number) (hey this is not going to me, but to the TA that will require it for tax purpouses). And get your DRIP started by sending OCP (if that is what you wish to do)!
Good luck to all.
KRIS
PS. I hope that people can appreciate that it was easier for me, and in my opinion a little better for them.
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IKan on 8/14/2005 3:08:05 PM
In the mean time MAKE SURE everything in the back of the certificate is as it should be (your name, address, etc.) Please also ADD your SIN (social insurance number) (hey this is not going to me, but to the TA that will require it for tax purpouses). And get your DRIP started by sending OCP (if that is what you wish to do)!
I have bought single shares from people before and have never had to put my SIN on the back of a certificate or give it out to anyone other than the transfer agent. You can do that afterwards via the phone or the TA's secure internet.
I just bought a BMO share from gitterm via Interact E-mail Money Transfer which is via the major banks. I get none of his person banking info and vise versa. It took approximately 15 minutes for him to receive the money into his bank account from start to finish.
It went like this: I asked him via email if he would sell me one share. He emailed me the total price. I went to my banks website and sent him the cash. Done deal. Just like that!
I do not understand why you guys are going the cheque & mail route. I will simply get a share certificate from the TA in a few weeks. He does not have to mail anything to me! I can check at the TA's website occasionally and see when a share is registered in my name, and then I know it will arrive via the mail in 1 - 2 weeks.
That is the way it worked when I got my BNS.
IKan
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IKan on 8/14/2005 3:18:20 PM
I should add 2 things:
1). I do give the name and address that I want on the share certificate to the seller via e-mail. Also we exchange phone #'s just in case we need to talk.
2). With the Interact E-mail Money Transfer the sender does enter a question with the transfer and the sender is then supposed to phone the recipient with the answer to the question so they can receive the money. My questions to date have been quite obvious the last couple times with gitterm and I did not have to phone him this last time. I do email him to let him know I have sent the money. He would e-mail or phone me if there was a problem. I (the sender) do get a received confirmation email from the bank once the transfer is completed successfully.
IKan
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mac0118 on 8/14/2005 4:01:28 PM
IKAN,
This works great for people who deal with one of the "big 5" banks. This option is not available at smaller institutions. I would hate to see this as the only accepted method of cash transfer in the future.
Mac
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mac0118 on 8/14/2005 4:26:46 PM
IKAN
"I do not understand why you guys are going the cheque & mail route."
Even if I had the oportunity to use email cheques, I don't think that I would for security reasons. I'm still not comfortable with the level of security our banks are offering in relation to on-line banking and internet purchases.
Cases in point......
http://www.theregister.co.uk/2005/06/20/mastercard_phishing/
http://www.theregister.co.uk/2005/06/21/mastercard_follow-up/
Until they can clean up some of their security issues...I'll stick with cheque, envelope and a stamp.
Old Fashioned Mac
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IKan on 8/14/2005 5:45:01 PM
Good points Mac.
However, as we all know nothing is 100% secure.
Once a cheque is given so is the branch and account #, along with your signature. Easy to replicate from this point.
Providing Canada Post gets it to the intended destination.
I do not know if other financial institutions beyond the 5 major CDN. banks offer on-line transfers of varying types.
No matter which financial institution is used they all use electronic means to transfer the money. Even in response to a cheque. So all money is exposed to electronic pros & cons (no pun intended). Unless you deliver it cash-in-hand. Even then you can get fraudulent bills.
So we all do whatever we are comfortable with and have luck with.
Have a great day.
IKan
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mac0118 on 8/14/2005 6:40:24 PM
IKan wrote....
"However, as we all know nothing is 100% secure."
True...but the internet makes it so much faster.
IKan wrote....
"Once a cheque is given so is the branch and account #, along with your signature. Easy to replicate from this point."
Not as easy now that the watermarks on the cheques cannot be copied. This can be spotted by a teller a mile away. And if they don't catch it...it's their fault not mine. My money will be refunded.
IKan wrote....
"Providing Canada Post gets it to the intended destination."
Providing your email reaches the intended recipient. Remember... a record of your transaction/emails are kept not only by you but the internet provider and the companies that provide the internet backbone, your bank, etc., etc., etc.
IKan said....
"My questions to date have been quite obvious the last couple times with gitterm and I did not have to phone him this last time."
Does this mean that if I intercepted your email, I could guess the answer to the question? If so, I presume that the bank could imply that the security breach was assisted by your "obvious" question and easy answer. Would they make you accountable and not refund your money?
Just my suggestion but if I were you, I'd make the questions not so obvious and follow up with the phone call. That's probably the most important part of the security feature you have.
Signed....Little Old Cheque Writer Me
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IKan on 8/14/2005 7:05:57 PM
"My questions to date have been quite obvious the last couple times with gitterm and I did not have to phone him this last time."
Does this mean that if I intercepted your email, I could guess the answer to the question? If so, I presume that the bank could imply that the security breach was assisted by your "obvious" question and easy answer. Would they make you accountable and not refund your money?
Just my suggestion but if I were you, I'd make the questions not so obvious and follow up with the phone call. That's probably the most important part of the security feature you have.
Signed....Little Old Cheque Writer Me
You are absolutely correct. I agree 100%.
However, at the time I wasn't too worried about the price of 1 share going astray. Foolish? Ya, but we all have spent and lost money more foolishly. Since we are killing time writing this (I do not mean to lower the priority of this topic just that no one wins, it is only opinions and thoughts), call it a form of gambling from someone who would never set foot in a casino and can live solely off his investments.
Heck with all the personal type info. some people put on these sites I suspect an evil minded person could reck havoc if they wanted too.
Money has watermarks and hollowgraphgs (spelling?) too but they still get by the banks and many people that handle money.
Some people cannot even use the detectors correctly I have read. I was in an insurance office recently and four of the staff where hovering over a new bill detector. They all had a different idea of how to use it. They had been trained recently. I left after approx. 15 minutes at which time they still didn't know if the bill was a fraud or not. It was a bill one of them had pulled from their own pocket. The point being that it all is human made and human managed. So there is room for errors and errors will be made as will fraud take place. Cheque, internet, electronic or cash.
Whatever works for a person is what they should use I feel. I didn't intend to offend anyone if I did.
There is no right or wrong way IMO, just different ways.
IKan
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mac0118 on 8/14/2005 8:14:49 PM
IKan,
No one offended. Your right...different stroke for different folks. And your right a no win discussion. Nuff said.
Have a great day.
Mac
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Setepen2 on 8/14/2005 8:37:39 PM
Tools,
I'll let you know when I'll receive the papers in the mail. However, here is the link if you want to request them yourself:
https://www-us.computershare.com/investor/plans/planslist.asp
Choose bank of Montreal from the column on your right and then select materials by mail on the BMO info page.
Set
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kwidla on 8/15/2005 9:27:20 AM
IKan,
I just tried to get people started with their DRIPs, as I got help to get started. I am not as comfortable giving away my bank account number, or sending my money electronically to someone I do not really know. That is just me.
I didn't really care how people send me money, and almost all options were provided. Most people send cheques. It's just a fact.
Afterwords I did what I was comfortable with, and send them a single share certificates. Now they will send that to TA. While they are sending it to the TA, they might as well include SIN to get as much paperwork out of the way as possible.
Yes, there is a chance that Canada Post will lose their mail, but they can send it register mail (if that is what they want).
Just to let you know, I did buy a share of BNS from Matt, and now I am buying BCE. In first instance I send cheque, in second I deposited my cheque directly to his account. Whatever works, right?
Kris
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mac0118 on 8/15/2005 11:49:26 AM
"Whatever works, right? "
Right! Different levels of risk taking for different people. No right or wrong way. It's like investing, younger people can handle more risk than those near retirement.
I just hope that one method is not adopted as the only option available. We need all options kept open.
Mac
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kwidla on 8/15/2005 12:43:08 PM
Mac,
I consider myself younger ... (almost 34) ... but you are right, different levels of risk that people are willing to take, and at different stages (this was my first time to do group purchase).
I like all kinds of options, but I usually pay with cheque, this gives me the paper trail I am looking for.
Kris
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IKan on 8/15/2005 6:48:35 PM
I just hope that one method is not adopted as the only option available. We need all options kept open.
Very well put I think.
I think I had a bad day yesterday and feel kinda bad about my wording and approach. My apologies.
----------------------------------------------------------------
I have a question regarding share certificate signatures.
If a share certificate is not signed on the back side exactly as it is registered (printed on the front page) will the TA's still do the ownership transfer? I recall a TA a few years ago (ComputerShare or CIBC MEllon) telling me on the phone that it had to be signed exactly the same or they could not process it.
An example of not the same is:
Front Page: John Smith
Signature on back page: J. Smith
Anyone care to share their experience(s) with this?
Exact wording from the back of a share certificate,
"The signature to the assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever."
IKan
who is 44 years young.
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IKan on 8/15/2005 6:50:57 PM
Very well put I think.
Typo! Should be:
'Very well put.'
IKan
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mac0118 on 8/15/2005 9:18:04 PM
"If a share certificate is not signed on the back side exactly as it is registered"
I have never had an instance where a share cert was kicked back because of the signature not the same as the front, (mind you I think they all were the same) but knowing how "anal" TAs are with these issues, I wouldn't be suprized that they would take exception. It's probably best not to proceed in any direction that might cause these people to have to think and reason too much.
Mac
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toolsntoys4u on 8/15/2005 11:42:16 PM
i signed your share the same way i did 10 shares in CM group purchase. no one in that group had any problems whatsoever. i think all it means is that the owner should be signing the share. some people have signatures that are completely different from their actuall names, what do you do in those cases? in the end a bank guarantes a signature whatever it looks like:)
just my 2
tools. the one who singed your certificate slightly different from the name on it:)
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kwidla on 8/16/2005 10:43:38 AM
IKan,
TA could be sticky, since it is legal contract.
I had a bank tell me that my mortgage had to be signed full name, just like it is in front, not by my "real" signature ...
Kris
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codemonkeyken on 8/16/2005 10:48:33 AM
Mac & IKan,
My bank (TD) requires that my wife and I sign any share in front of the bank signing officer. As well, they always instruct us to sign it how it's spelt on the front of the share (first name, middle initial, last name). Then they check the names on the front of the share and the signatures on the back against our driver's licenses before they stamp and sign.
My advice, sign all TA correspondence (shares, anti-money laundering sheets, etc.) as they are spelt on your account/share. By doing this I have never had a problem with a TA rejecting any form.
Ken
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IKan on 8/16/2005 5:38:37 PM
I only raised the topic of signatures to see what experiences some of us have had and see what I and others might learn if anything. With the desire to help make things go as smoothly as possible in the future. It is the little details in DRIP'in I find that make the difference.
The TA's on more than one occassion have told me that the certificate must be signed the same as it is printed on the front. They said if it is spelled incorrectly on the front that the signature must match that spelling.
They also said that if an address is on the front it doesn't matter.
The name and signature is the only thing that matters.
I guess they probably do not follow their own rules (are they securities imposed laws/rules?) anymore than most other places. Since they appear to vary in what they say, and do on occasssion, per some posts here, I guess they are only as good as their staff and its training.
They sometimes do do confusing and frustrating things.
IKan
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toolsntoys4u on 8/17/2005 12:29:38 AM
ikan,
thanks for the info. something to keep in mind when transfering a share certificate.
tools
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