The Bank of Canada decided to stand pat and gave no signals on the direction of rates in its interest rate decision this week. The prime rate to which personal loans and variable-rate mortgages are tied remains at 4.75%.
With markets resuming their downward trend once again (it took the TSX just 3 trading days to drop more than 1,000 points), William Bernstein’s column in Money is a timely reminder to stay sane in a wild market.
What happens to mutual funds that sport truly disastrous performance numbers? Why, they get merged with a better performing fund and get a “past performance” makeover! Jon Chevreau writes about a recent example of this practise.