CIX, CI Financial Corp. update.

The then, Sept. 8, 2013 and now charts, as usual;

cix sept 2013cix feb 13 2016

So we had a sell at the end of 2013 at about $33. As you can see, no two charts are the same depending on the level of resolution (every minute, hour, or day) and the hi-lo kind of stuff. On the Bigchart a triangle seems to fit, whereas on the Globe&Mail one a running flat seems more appropriate. The actual high was around $37 some 5 months or so later. Anyway we are already at $27 so all is well that ends well.

This mutual fund company is, I believe, 39% owned by Bank of Nova Scotia, so it does not have to go as low as, for instance, AGF (it is in this blog). Nevertheless their world has shrunk. It used to be that the client makes, say, 7.5% and the company 2.5% and everybody is happy. Now that is more 2.5% for you and 2.5% for us and nobody is happy. The business is more difficult due to all sorts of regulations and on top of that the trust is very low. We have a higher regard for the guy at Home Depot selling vinyl siding than we do for these guys and gals, perhaps for good reason.

Look for about $15 at the very least and then just under $10, the 4th wave of previous degree. Mutual funds may become just as popular as the Polaroid camera by the time this bear is done.

We add two funds chosen randomly and invite you to the website if you wish to test the 50/50 proposition. We have a bond and equity fund, the latter is guaranteed which means it is life insured at a certain age, which ties you to it. Would you care to own them?

CiInvestmentsEN1CiInvestmentsfund 2

If you look at the one on the left with a MER of >5% it is probable 3% plus 2% for the guarantee. Looking at the chart on the right, –click on it to enlarge- it looks very much identical to the TSE which makes me wonder if this is just another “closet-indexer” that does not deserve such a high management fee. We do not need any help to shrink our portfolio!        Your investment advisor receives about 1/2 maximum of the MER, which is why he, not you, has the yacht.