Your Money - December 24th 2020

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We want to start by wishing everyone a safe and happy holiday season and hope that this will be the one and only when it comes to isolating family and friends. Next week we will likely be still stuffed with leftover turkey and mashed potatoes and while US markets are open on Monday, Canadians will be enjoying their boxing day holiday. In looking at the best wishes coming in from friends, partners and associates, it is safe to say markets are likely to be quiet as most will extend the 25th all the way to 4th of January. That will likely include commodities like gold, silver oil and lumber…I have no idea where Bitcoin is headed and I shudder to think that its gaining popularity once again. For all intents and purposes, it’s an unregulated currency that crosses international borders and if you are to believe the fake Revenue Canada calls, the currency of choice by scammers. Why anyone would invest there is beyond me, but what do I know? The darn thing has doubled in the last six months so maybe it’s just sour grapes on my part. Then again in the 1600’s the price of Tulips were selling for as much as 4,000 Florins or about $750,000 in today’s dollars. They even made it on to the Stock Exchange of Amsterdam before they crashed wiping out thousands of speculators. But I digress.

I should still be at my desk on Tuesday Until the 31st and then sneaking off for a three day long weekend. I am sure my great wife will have something up her sleeve for me to do around the house. I envision a pole saw, ladder and wheel barrow in my future.

In the meantime if there is anything we can do for you, do not hesitate to call. We don’t think anything dire will happen between now and the New Year but then again we are in the waning days of the Trump Presidency so all bets are off.

For now, settle back, enjoy spending time with those in your bubble, pour a little something into your eggnog or coffee and gird yourself for Boxing Day sales if that is your thing. We certainly hope that you go out and support the local vendors out there, with the current protocols, they need all of our patronage if they are to survive until the pandemic passes or is defeated by vaccines.

Happy trading, stay safe and thank you for partnering with us again this year. We look forward to speaking with you in the New Year.


Steve and Michele.

Information contained herein represents the views of the writer and not those of PI Financial Corp., and based on assumptions which the writer believes to be reasonable. The material contained herein is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. This information is intended for distribution in those jurisdictions where PI Financial is registered as an advisor or a dealer in securities. Any distribution or dissemination of this article in any other jurisdiction is strictly prohibited. PI Financial and/or its’ officers, directors, employees and affiliates may, from time to time, acquire, hold or sell a position in the securities mentioned herein.

Steve Bokor

Steve Bokor

Portfolio Manager