TRUSTS ARE TOAST THE BATTLE IS OVERI am going to start sending congratulatory letters, emails, and faxes to the P.M, Flaherty, and all other Conservative MP's, Senators, or Newspapers. I will commend the CONservatives for at least bringing closure to the issue. Even if it is a BAD decision, there is definitely that GOOD that comes from the decision, even if we haven't realized or accepted it! If they choose to use my letters to solidify that they did the right thing, so be it.
Any grandfathering or other changes just leaves the issue up for debate and change by a future gov't and we trusters have been ripped apart enough.
I have reassessed my mindset regarding the trust decision. I've only lost ~20,000.00 of my portfolio, I say 'only' because some report having lost much more.
The blame game ends here with regards to complaining about the CONservatives.
A 'genuine investor 'diversifies' for the very reason that investing ones money has risks. Any outside factor, forseen or unforseen, is still the responsibility of the investor to take into account when they invest. It may be totally beyond ones control but does not change the fact that I, and you others, are solely responsible for the end result. Canada has a new ‘risk’ premium in some of our eyes and we can adjust accordingly.
Some whine, including myself, that this is a broken promise and we invested based on the CONservatives promise...SO WHAT, I now say. When we choose to invest in any country there is a risk of the gov't changing policy and stealing our investments. That is why we have to diversify.
In hindsight, those who margined to the hilt on trusts or had more than they should have had in the sector are responsible for the results of their portfolios especially if the reports of 50% losses or more are truthful.
Many of those on the $TRSTS board remain in denial, so I must thank book00 for banning me as it gave me an opportunity to experience this epiphany and I can now once again experience free thought. Reading all the good and rarely hearing the bad on a board can and does impact our decisions, but no more. As the bannings continue the trusters lose more allies and hopefully someday the others who are in denial will too see more clearly that the CONservatives have ultimately done a good thing for all trusts!