Optimism #37 - January 7, 2022

Dear clients and friends,

Happy New year!

As you probably know, we (non US Citizens) are permitted to add $6,000 to your TFSA account for 2022.  I am happy to discuss at your request.

Any costs related to covid tests are medical expenses, therefore may be deducted with your tax return.  Keep receipts.

You will be pleased with your statements.  Share prices are up.  The last 20 or so months have been exceptional, but expect growth to level off a bit going forward.

RRIF and LIF payments may be a few days late because they are calculated based on the account values on January 1st.

Share buyback activity is high and across many sectors. 

I’m actually a bit surprised that insiders are still buying now that the market has rebounded from the lows 20 months ago. 

I guess they still see wonderful opportunities:

Sierra Wireless director Russell Jones invested over $253,000 US for 15,000 shares.

At Crescent Point, an energy company, director John Dielwart purchased 175,000 shares at $6.15, for over 1 million dollars.  (shares closed today at $7.70 so clearly a good move)

Glen Roane, director of Badger Infrastructure bought 10,000 shares for $296,000.

Jerrold Annett, Sr. VP of Capstone Mining acquired $361,000 worth of shares.

Larry Warelis, CFO of Winpak invested about $250,000 in shares of his company.  Bruce Berry, a Director, invested $524,000 in shares of Winpak as well.

Don Rutman, a trustee at H&R Reit, (a real estate investment trust) bought $155,000 worth of shares.

There are many more. Too many to list.

What does it take to waste $10,000 a year?  Just $27.40 a day.  Interesting perspective to pass on to our kids.

Brian Belski says the Bull Market will be Alive and Well in 2022, citing that Canada should increase by ‘just shy of 10%’.  Let’s hope he is right.  See full article attached.

According the IRS (US Tax Dept),

“if you steal property, you must report its fair market value in your income in the year you steal it unless you return it to its rightful owner in the same year.”

  Thank you Jamie Golombek for that one.

Happy Friday. Have a great weekend!