Post by
DanielDarden on Jun 30, 2023 1:35pm
Managers Buying Back
With H1 now done and window dressing their portfolios for the mid year reports, they are now obviously buying back their losers. Little do they know that investors might be looking for them in the reports that will be available in 2 months if sentiment and momentum changes. Prior losers often turn to winners when the dust settles.
Some good news along with the sentiment change should move this higher as most managers are underweight now. The most stable asset classes should move first.
Comment by
SNAKEYBOY on Jun 30, 2023 2:02pm
Well we can see if your theory is correct in July....for now NWH being 0.15 off its lows of $6.06 its hard to establish that is the reason
Comment by
SNAKEYBOY on Jun 30, 2023 4:34pm
Isn't the 30 day washing rule in effect if it's non registered?
Comment by
DanielDarden on Jun 30, 2023 5:06pm
It in effect, however, it is probably not a priority for most managers as their focus is on performance. It would be impossible for CRA to monitor all of the funds and etfs and the managers likely know that. Those concerned merely buy a different REIT or etf to circumvent the rule.
Comment by
SNAKEYBOY on Jun 30, 2023 5:20pm
I don't see the logic in selling losses to hide them from clients. Destroys returns over time... but that's just me.
Comment by
Compypaul on Jul 04, 2023 11:04am
There does seem to be a shift in momentum in the REIT sector. We're being told we will have to wait until 2024 by BMO, but I'm buying now (picked up a bit at $6.09) in the hopes of catching the wave. At some point, eventually, if I'm patient, my strategy will be proven correct.
Comment by
SNAKEYBOY on Jul 04, 2023 11:59am
Bear market rallies every few months.