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| | | | Is it better to save money inside or outside of an RRSP? 是更好地节省金钱境内或境外的一个RRSP由？
A recent article in the Toronto Star says "Disciplined savers who do not need the tax deduction are probably better served by keeping their investments in a non-registered account."(1). 最近的一篇文章中，在多伦多星报说： "各纪律储蓄的人，并不需要扣税，可能是更好的服务，使他们的投资在非登记户口" （ 1 ） 。 Is it true? 请问是这样吗？ Are people really better off saving money outside of an RRSP? 是人民真正富裕省钱之外的一个RRSP由？ There are a lot of people out there who say things like this and they are almost always wrong. 有许多人在那里的人说，事情是这样，他们几乎永远是错的。 The arguments for non-registered investments generally involve a lot of handwaving and grand claims so let's break it down and look at the numbers. 论据非注册的投资一般都涉及很多handwaving和宏伟债权让我们一起打破它下来看一看，在号码。 First we'll look at buying stocks in and out of an RRSP, then we'll compare an RRSP to a mortgage payment. 首先，我们将看到买股票和带出一个RRSP为行动，那么我们将比较RRSP由以按揭方式付款。
Building A Globally Efficient ETF Portfolio (updated) 建立一个有效率的全球ETF的投资组合（更新）
Last year I recommended building a low cost efficient global ETF portfolio by allocating funds to cheap index ETF's based on global market capitalization. 去年，我建议建立一个低成本高效率的全球ETF的投资组合，拨出资金，以低廉的指数ETF的基础上的全球市场资本化。 In my opinion there isn't much more to say about equity investment--that's still what you should do. 在我看来，有没有什么更多要说的股权投资-这仍是你应该做的事情。 Allocate your money along the same lines as the global consensus. 分配你的钱沿同一路线作为全球共识。 However, it's time to update the data a little. 但是，它的时间，以更新数据的大致情况。 What's the market cap breakdown look like in 2007? 什么样的市值击穿样子，在2007年呢？
Remember to file your T1213 请记得你的档案t1213
Happy New Year! 新年快乐！ One of the things you may have noticed recently is that rather large deduction of federal tax on your first pay stub of the year. 其中一件事大家可能已经注意到最近是相当大的扣除联邦税法关于你的第一个付出票根可部分投产使用。 Assuming that you contribute the maximum to your RRSP some of that money still belongs to you. 假设你的贡献最大，以你的RRSP由部分的资金仍然属于你们。 You've just lent it, interest free, to the federal government until sometime next April. 你刚刚借给它，免利息，向联邦政府推迟到明年4月。 You don't want to do that. 你不想这样做。 The solution is to file a Form T1213, Request To Reduce Tax Deducations At Source. 解决的办法是，以文件的形式t1213 ，要求减税deducations源头。 Yes, it's nice to get a big refund at the end of the year, but it's even nicer to have that money all year long. 是的，这是尼斯得到一个很大的退票，在今年年底前，但它的更美好的，以有那么多钱，所有年之久。 A bigger monthly paycheque makes it easier to hit your personal savings target. 更大的每月paycheque让我们很容易击中你的个人储蓄目标。
Building A Globally Efficient Equity Portfolio with Exchange Traded Funds 建立一个有效率的全球股票投资组合与交易所买卖基金
According to modern financial theory capital is allocated efficiently to global markets overall. 按现代金融理论的资本分配效率，以全球市场上的整体。 That is, the total market capitalization of both companies and countries is roughly optimal. 也就是说，总市值的公司和国家，大约是最优。 This is the theory behind index funds that are weighted by market capitalization. 这是理论落后于指数基金是加权资本市值。 The overall maximally efficient portfolio would be to hold a global portfolio of equities roughly in proportion to global market capitalization. 整体最大限度地高效组合，将举行一个全球性投资组合的股票大致成正比全球市值。 How would one go about doing this in a cost efficient manner? 如何将一去这样做，以具成本效益的方式？ In this article I'll look at the breakdown of global market capitalization and discuss the factors that would affect your own particular global equity allocation. 在这篇文章中我会看看在细分全球市场资本和讨论因素会影响到你自己，尤其是全球公平分配。 We'll conclude with a list of Exchange Traded Funds (ETFs) that would suit this allocation, and the proportion of your portfolio that you could consider allocating to each of ETF. 我们将在结束了一份清单，列出的交易所买卖基金（ ETFs ） ，这将适应这一分配比例和你的投资组合中，你可以考虑分配给每一个ETF的。
Changes to Barclays Canadian iShares XIC, XDV, and XTR 改变加拿大巴克莱的iShares xic ， xdv ， xtr
This is the third and final article on recent changes to the Barclays Canadian iShares (formerly iUnits) exchange traded funds. 这是第三次，也是最后一篇关于最近发生的变化，向加拿大巴克莱的iShares （前身iunits ）交易所买卖基金。 With respect to the Canadian equity market, there are three important changes to the Canadian iShares ETFs: Income trusts have been added to the TSX equity index (XIC), and there are two new equity index ETF's: A Canadian iShares fund specializing in dividend income (XDV) and a Canadian iShares fund specializing in income trusts (XTR). 针对加拿大的产权交易市场，有三个重要变化，向加拿大的iShares ETF的：收入信托被增补到多伦多证券交易所股票指数（ xic ） ，并有两个新的股票指数ETF的：一个加拿大的iShares基金专门从事股息收入（ xdv ）和加拿大的iShares基金专攻收入信托（ xtr ） 。 What do these changes to the Canadian equity ETF's mean for investors? 怎么这些变化给加拿大股票ETF的意思，为投资者？ The change to XIC is excellent news. 变更xic是极好的消息。 The new XTR and XDV funds may be useful for some investors, but the average investor is better served by a straight equities index like XIC. 新xtr和 xdv 资金可能是有用的一些投资者，而普通投资者是提供更佳的服务直线股票指数一样xic 。
Changes To Barclays iShares: XSB and XRB 改变巴克莱的iShares ： xsb和xrb
Barclays has announced changes in its line-up of bond exchange traded Canadian iShares (formerly iUnits) funds, in addition to many other recent changes. 巴克莱银行已宣布改变其阵容中的债券交易所买卖加拿大的iShares （前身iunits ）的资金，除了其他许多最近发生的变化。 Unlike the changes to XSP and XIN Canadian iShares ETFs, the changes to the bond ETFs are across the board good news for Canadian investors. 不像改变XSP框架和新加的iShares ETF的，改变债券ETF是全国理事会好消息，加拿大的投资者。 XSB is what the former XGV has become: The 5 year govt. xsb是前者xgv已成为：五年政府。 bond Canadian iShares ETF is changing into a general short-bond index. 债券加拿大的iShares ETF基金正转变成一般的短期债券指数。 Canadians have needed an efficient way to invest in short-bonds for some time. 加拿大人都需要一个有效率的方式，投资于短期债券，为一些时间。 The other new bond fund, XRB, will be some sort of real-return bond index ETF. 其他新的债券基金， xrb ，将某种形式的实时回报债券指数的ETF 。 While the details remain to be seen, adding some real return bonds to your portfolio is probably a good idea.This is the second article in a series of reviews of the new Canadian iShares ETF's. 而相关细节，仍有待观察，并补充了一些实际收益债券，为您的投资组合，可能是一个很好的idea.this是第二条，在一系列评论的加拿大新的iShares ETF的。
Changes To Barclays Canadian iShares: XSP and XIN 改变加拿大巴克莱的iShares ： XSP框架和昕
Barclays has announced changes to several of its Canadian iShares exchange traded funds (formerly iUnits), including the XSP/i500R iUnits, and XIN/iIntR iUnits funds. 巴克莱银行已宣布改变它的几个加拿大的iShares交易所买卖基金（前身为iunits ） ，其中包括xsp/i500r iunits ，和鑫/ iintr iunits资金。 The fees and the investment objectives of each exchange traded fund is changing. 费用及投资目标，每个交易所买卖基金正在改变。 Since I had previously recommended these Canadian iShares funds to self-directed RRSP investors it is time to analyze the implication of these changes. 由于我以前曾推荐这些加拿大的iShares资金，以自编自导自RRSP由投资者，现在是时候分析蕴涵的这些变化。 This is the first of a series of articles--subsequent articles will look at the changes to other Canadian iShares funds. 这是第一个系列文章-以后的条款将研究上的转变，以其他加拿大的i Shares资金。
Do Mutual Fund Managers Have an Inherent Conflict of Interest? 做共同基金经理人有一种内在的利益冲突？
Mutual fund managers may have a conflict of interest because of the way they are paid. 共同基金经理人，可能有利益冲突的，因为他们的手段支付。 In particular, mutual fund managers are encouraged to make risky investments that are not in the interests of unit holders, and to over-concentrate their holdings. 特别是，共同基金经理人都被鼓励去冒险投资，是不是在利益的单位持有人，并以过度集中持股。 Mutual fund investors, on the other hand, would tend to benefit from less risky investments, and greater diversification. 共同基金投资者，但另一方面，往往会受益于风险较低的投资，以及更加多样化。 This article will explore this conflict of interest and its implications for investors who buy actively managed mutual funds. 这篇文章将探索这方面的利益冲突及其影响，为投资者购买积极管理型共同基金。
The Intelligent Asset Allocator 智能资产分配表
William Bernstein's Intelligent Asset Allocator: How to Build Your Portfolio to Maximize Returns and Minimize Risk is an excellent introduction to modern portfolio theory and other modern theories of investment: one that anyone can read. 威廉伯恩斯坦的智能资产分配表：如何构建你的投资组合，以最大限度地回报和风险最小化是一个很好的介绍，以现代投资组合理论等现代理论的投资：一，任何人都可以阅读。 Bernstein has a deep understanding of the academic literature, and a skillfull way of explaining it all in terms that anybody can understand. 伯恩斯坦有一个深刻的认识，学术文献，以及skillfull的方式解释，它在所有的条件，谁都可以理解。 You'll learn how to adjust a portfolio to compensate for risk and about the theory of asset allocation in light of real world market behavior. 你将学习如何调整投资组合，以弥补风险和对理论的资产配置，结合现实世界中的市场行为。
Closet Margin Traders: Mortgage Loans and Stock Market Risk 壁橱保证金交易：按揭贷款及股市风险
Most people believe that buying stocks on margin is a silly thing to do: Everybody knows you might get a margin call that turns your heavily margined position into pocket change. 大多数人认为买股票保证金是一个很傻的事：大家都知道，你可能会得到补仓，可以将您大量保证金头寸到Pocket改变。 The guys who jumped off buildings in the 1929 market crash were mostly margin traders--not smart, right? 该球员，他们就跳下建筑物，在1929年股市崩溃后大多保证金交易-而不是聪明的，对不对？ You'd never do that, right? 你从来没有做到这一点，对不对？ Yet many of you are closet margin traders! 然而，很多人都壁橱保证金交易！ You've mortgaged your home to the hilt, and you've risked the borrowed money in the equity market. 你抵押，为您的家庭已达极限，你冒死借来的钱在股票市场进行。 You pretend it isn't margin trading, but it is: You are taking on the same risks that sent people hurtling from buildings in 1929. 你假装这不是保证金交易，但它是：你正在对同一风险派人一架从建筑物于1929年。 This is a wake up call: Please understand the risks you are taking. 这是一个叫醒电话：请理解这种风险，你正在服用的药物。 This is an especially urgent call at a time when many suspect we're in the midsts of a real estate bubble. 这是一种特别紧急呼吁在这个时候，许多人怀疑我们现在所处的midsts的房地产泡沫。
Why You Don't Contribute Enough to Your RRSP 为什么你不贡献不够你的RRSP由
Why don't most people save as much as they should? 为何不与大多数人节省得多，因为他们应注意什么？ Canadians can contribute up to 18% of their income to their RRSP in exchange for a generous income tax deducation--essentially, free money. 加拿大人可以贡献高达18 ％的收入，以自己的RRSP由换取一个慷慨所得税deducation -基本上，免费赚钱。 Yet most fail to take advantage: In 2003 the median RRSP contributor earned $43,000 but their median RRSP contribution was just $2600, which is only 6%. 然而多数未能充分利用： 2003年，中位数RRSP由投稿者赚取43000美元但其位数RRSP由贡献只是2600美元，其中只有 6 ％ 。 Overall, only 34% of those eligible to contribute to an RRSP actually did so. 总体而言，只有34 ％的人有资格以贡献于一个RRSP由的确如此。 When RRSP room left over from previous years is included the result is dismal: Canadians used up barely 9% of the available RRSP contribution room, leaving 91% of it unused. 当RRSP由室遗留下来的，从往年的是，包括其结果是令人沮丧的：加拿大人用了仅仅9 ％ ，对所提供的RRSP由贡献房间，留下的91 ％ ，它闲置。 These numbers are astounding--Canadians left an enormous amount of free money on the table! 这些数字都是触目惊心-加拿大人留下了大量的免费的钱放在桌子上来！ In this article I'll explain the psychology behind why most fail to max out their RRSP contributions, and what you can do to make sure that you do contribute enough to your RRSP. 在这篇文章中我将解释心理学背后为什么大多数未能最大值出自己的RRSP由重贡献，您该怎么办，以确保你做的贡献不够，以你的RRSP由。
RRSP's and Income Tax Planning RRSP由的和所得税税收筹划
An RRSP is a tax deferral tool. 一个RRSP是税收延迟的工具。 While most people use their "registered retirement savings plan" to provide income in retirement, your RRSP can also be used just to defer taxes from one year to the next. 而大多数人都使用他们的"注册退休储蓄计画" ，提供收入，在退休时，您的RRSP由也可以被用来只是推迟税款从一年到下一年。 This article will discuss the tax implications of contributing to, and withdrawing from, your RRSP, as a way of smoothing out your tax rate from one year to the next. 这篇文章将讨论税收的影响作出贡献，并退出了，你的RRSP为，其作为一种理顺你的税率从一年到下一年。
Should You Take the Canadian Securities Course? 您应该采取加拿大证券课程？
Would the Canadian Securities Course help you to become a better self-directed RRSP investor? 将加拿大证券课程帮助你成为一名更优秀的自我导向RRSP由投资者？ The CSC is one of the educational requirements for registration with one of Canada's self-regulatory organizations. 民间社会是一个重要的教育要求登记，其中一名加拿大的自律监管组织。 For example, you're required to take a course like the CSC if you want to work as an investment advisor or mutual fund salesperson. 举例来说，你必须要接受的课程，如计算机科学，如果你想工作，把它作为投资顾问或互助基金推销员。 What does this course teach you, and would it be useful for an ordinary investor managing their own RRSP? 这是什么课程，教导你，这是有益的一个普通投资者管理自己的RRSP由？
Want to Retire on Hans Island? 想退休就汉斯岛？
Do something patriotic with your retirement: Retire on Hans Island! 做一些爱国与你的退休：退休，对汉斯岛！ Hans Island is a small uninhabited barren knoll located in the strait that separates Ellesmere Island from Northern Greenland. 汉斯岛是一个无人居住的小荒芜覆盖的土丘坐落在两岸分隔埃尔斯米尔岛北部的格陵兰。 It's one of the most desolate places in Canada, and it's not really clear why anyone would ever want to live there, but then everyone's different. 它的一个最荒凉的地方，在加拿大，这实在不是很清楚，为什么会有人想要再生活在那里，但当时每个人的不同。 Canada's claim to sovereignty over Hans Island has recently been challenged, and given how difficult it would be to live on Hans Island, retiring there really would be a heroic act of patriotism. 加拿大的主权要求汉斯岛最近已受到质疑，并鉴于它有多么艰难，将生活的汉斯岛，有退役真的会是一个英雄行为的爱国主义教育。
Foreign Asset Allocation in your RRSP 外国资产配置在你的RRSP由
How much money should you invest in foreign markets? 应该提供多少钱，你投资在国外市场？ A recent study in the Journal of Finance examined the extent to which mutual fund investors tend to put their money in their home country. 最近的一项研究在Journal of金融研究在何种程度上的互惠基金投资者倾向于把他们的钱在自己的家乡。 This is called domestic bias. 这就是所谓的国内偏见。 In every country, investors are biased towards investing in their own country. 在每一个国家，投资者偏向于投资于自己的国家。 In this article we'll look at the market capitalization of global markets, and discuss how much money you should invest overseas. 在这篇文章中我们将看看股票市值的全球市场，并讨论了多少钱，你应该在海外投资。 Given that the Federal Govt. 鉴于美国联邦政府。 just eliminated the foreign content restrictions in RRSP's, it's a good time to review your global asset allocation! 刚刚淘汰了外国含量限制在RRSP由的，它是一个很好的时间来审查你的全球资产分配！
Update: RRSP Reform Receives Royal Assent! 更新： RRSP由改革收到御批！
Bill C-43 has received Royal Assent! 法案 C - 43条已收到御批！ The old foreign content limits on RRSP's are now officially and legally gone. 老外商内容限制RRSP为的是现在正式和具有法律荡然无存。 You can now put as much of your RRSP into foreign securities as you like with no penalty. 现在你可以把很多你的RRSP由外国证券为您喜欢的样子没有罚则。 Thanks to each and every one of you who contacted your MP and demanded passage of Bill C-43. 感谢每一个你的人接触，你的MP和要求通过法案 C - 43 。 Efficient Market Canada strongly recommends that you increase the US dollar investments in your RRSP and take advantage of the Exchange Traded Funds available on the US stock market. 有效率的市场，加拿大强烈建议您增加美元投资在你的RRSP为，并利用该交易所买卖基金可于美国股市。
Trading Shares Over Coffee 买卖股票超过咖啡
The original stock markets evolved from coffee houses where investors would meet and swap paper over coffee. 原来股票市场的主要矛盾，从咖啡屋，让投资者见面会，并互换文件超过咖啡。 Gradually, as volumes grew, the participants at the coffee tables became agents for others. 渐渐地，随着成交量的增长，与会者在咖啡桌成为代理商，为别人。 Eventually, the coffee houses were replaced with full scale trading floors which evolved into the sophisticated web-based trading systems we use today. 最终，咖啡屋，而代之以充分的规模贸易楼层演变成为复杂的基于Web的交易系统，我们今天所使用的。 Well, you can still do it the old way, and I sometimes do. 那么，你仍然可以做的老路已经行不通了，有时候我做的。 It's a slow, somewhat painful process which instills (in me anyway) a sense of nostalgia and history. 这是一个缓慢的，有点痛苦的过程，其中instills （反正我）的感觉怀旧和历史的检验。 Trading shares directly over the table with family and friends can save you a little money (no transaction costs!) and it can be fun. 买卖股票直接在该表与家人和朋友，可以为您节省一点钱（没有交易成本！ ） ，它可以同乐。
How much US dollar investment in your RRSP is too much? 多少美元的投资，你的RRSP是太多了？
A reader recently wrote asking whether the allocation of ETF's I recommended in RRSP Foreign Content Rules Scrapped overweightedinvestment in the United States--wondering in particular if perhaps there is risk that the US dollar might be devalued soon. 一位读者最近撰文问有否分配ETF的我建议在RRSP由外商内容规则报废overweightedinvestment在美国-令人怀疑，特别是如果有可能，是一种风险是，美元可能会贬值很快。 How much foreign content should you hold in a self-directed RRSP? 有多少外国的内容应当持有你在自编自导自RRSP由？
Form T1213: Reduce Tax Deducted From Your Pay When You Contribute to an RRSP 形式t1213 ：减税额中扣除你的工资时，你贡献一个RRSP由
Did your RRSP contributions win you a nice tax refund this year? 你的捐款RRSP为赢你一个好退税，今年？ If so you goofed. 如果让您goofed 。 It's wiser not to overpay your taxes. 它的明智，不要过高的纳税额。 If you make regular RRSP contributions you can ask to have less tax money deducted from your paycheque each month. 如果你经常RRSP由捐款，你可以要求以较少的税款中扣除从你的paycheque每一个月。 Simply file a request to reduce tax deductions at source (T1213) and see a fatter paycheque all year long. 简单的文件要求，以减少扣税，从源头上（ t1213 ） ，并看到一个胖paycheque各年之久。 The best part is that extra cash will make it easier to hit your 18% RRSP contribution target throughout the year, rather than having to scramble at the last minute. 最好的部分是，这些额外的现金流，将使其更易于击中你的， 18 ％的贡献RRSP为目标，在整个一年里，而不是要抢在最后一分钟。 This article explains how to reduce your withheld taxes if you make regular RRSP contributions. 这篇文章解释了如何降低你扣税款，如果你经常进行RRSP由捐款。
Canadian RRSP Investors: Demand Passage of RRSP/RRIF Legislation 加拿大RRSP由投资者：要求通过RRSP由/ rrif立法
The recent budget proposal to eliminate the RRSP foreign content limit is in trouble: Bill C-43 may die on the order paper. 最近的预算案建议，以消除外国RRSP为内容的限制，是在麻烦：法案 C - 43人死于于议事程序表。 Bill C-43 is the enabling legislation that implements the key budget proposals that every party in the Commons had previously agreed to. 法案 C - 43是有利的立法，实施重点预算提案表示，每一个政党在下议院此前商定。 This includes the removal of the foreign content restriction on RRSP/RRIFs, as well as the increases in the amount you can contribute tax-free. 这包括取消对外商内容限制RRSP由/ rrifs ，以及因此而增加的数额，你能有助于免税。 If the Opposition defeats the Liberal minority government before Bill C-43 becomes law it will be a terrible shame. 如果反对派推翻自由党少数政府面前法案 C - 43个，成为法律，这将是一个可怕的耻辱。 Whatever your political stripes, please contact the Conservative Party, the Federal NDP party, and (for Quebec residents) the Bloc Quebecois and urge them to pass Bill C-43 before they force another federal election. 无论你的政治条纹，请联络保守党，新民主党联邦党，和（为魁北克居民） ，魁北克集团，并敦促他们通过法案 C - 43才迫使另一联邦大选。 You might also make some progress by contacting the local riding associations in your area--you can find them on the party websites. 您也可能取得某些进展通过联系当地骑协会在你的地区-您可以在这里找到他们关于党的网站。 No matter who you would vote for you have a direct, financial, real money-in-pocket vested interest in seeing Bill C-43 passed before there is an election. 不管是谁，你会投你一票有直接关系，金融，实际货币在口袋既得利益者在看到法案 C - 43日前通过有选举了。
Exchange Traded Funds: Recommendations 交易所买卖基金的建议：
Now that you can own whatever you like in your RRSP the question on everyone's mind is, what? 现在您可以自己不管你喜欢在你的RRSP由问题上每个人的心目中是什么？ In this article I've briefly summarized the exchange traded funds that I recommend you use to build the foreign portion of your portfolio. 在这篇文章中我已经简单地概括了交易所买卖基金，我建议你使用，以建立外交部分，你的投资组合。 The majority of these funds trade on the American stock exchanges. 大多数这些资金的贸易对美国的证券交易所上市交易。
RRSP Foreign Content Rules Scrapped! RRSP由外商内容规则报废！
Suddenly I love our Finance Minister. 突然我爱我们的财政部长。 Effective immediately the foreign content restrictions on RRSP's have been eliminated. 立即生效，外国含量限制RRSP为的都被淘汰。 This is a huge and wondeful change: You can now own as much United States, European, and overseas content as you like in your RRSP. 这是一个巨大而wondeful变化：现在，您可以自己多美国，欧洲，和海外内容如你所愿，在你的RRSP由。 So how much should you buy? 那么多少钱，你买什么？ This article will take a look at how you should structure your investments under the new rules. 这篇文章将考虑一下如何你应该结构你的投资，根据新规则。
Your RRSP and your Mortgage: Is it a good idea? RRSP为您和您的按揭：这是个好主意呢？
Many of you are interested in using your RRSP savings to finance the purchase of your home, either through the Home Buyer's Plan, or by holding the mortgage of your home in your RRSP. 你们中有许多人有兴趣用你的RRSP由储蓄资金购买你的家中，要么通过置业人士的计划，或通过举行按揭贷款的你家在你的RRSP由。 This may be a bad idea from an asset allocation standpoint. 这可能是一个不错的主意，从资产配置的角度。 In this article we'll consider the risks associated with owning a home, and how best to mitigate them. 在这篇文章中我们将考虑相关的风险与拥有一个家，以及如何更有效，以减轻他们。
Your RRSP and Your Mortgage: The Home Buyer's Plan RRSP为您和您的房屋贷款：民政买方的计划
Should you borrow from your RRSP to buy a home? 如果你借钱，你的RRSP由买回家呢？ There are several ways to do this. 有几种方法可以做到这一点。 The simplest is to take advantage of the Home Buyers Plan. 最简单的手段就是利用该置业计划。 In this article we'll look at the mechanics of doing this: Is it a good idea to use RRSP money to finance the purchase of a home? 在这篇文章中我们将看看在力学这样做：这是一个好主意，利用RRSP由金钱来资助置业？
How Mutual Funds Work: Exchange Traded Funds 如何共同基金的工作：交易所买卖基金
This article will explain what an Exchange Traded Fund is, how to use them to manage your own RRSP, and what choices are available. 这篇文章将解释什么是交易所买卖基金，是如何用它们来管理自己的RRSP由，和什么样的选择可供选择。 We'll also have a look at the way mutual fund companies get paid so that you can avoid paying too much.Canadian mutual funds are in general a lot more expensive than American funds, and there aren't a lot of different asset classes to choose from. 我们也会有一个看的方式，共同基金公司得到报酬，那你便可以免交或少交太much.canadian互惠基金在总体上是一个有很多更昂贵的，比美国的资金，而且有没有太多的不同类别的资产，以可供选择。 Fortunately there are two points of light: First, American Exchange Traded Funds (ETFs) can be purchased by Canadian investors as foreign content; second, we have a few ETFs of our own here in Canada. 幸好有两点光的：第一，美国的交易所买卖基金（ ETFs ） ，可购买的加拿大投资者为外国含量;第二，我们有几个ETF的我们自己的此在加拿大。 Given the absence of good conventional funds in Canada, I highly recommend that you build your portfolio primarily from these ETFs. 由于缺乏良好的传统基金在加拿大的时候，我强烈建议你建你的投资组合，主要是从这些ETF的。 But beware of trading fees! 但提防交易手续费！ In this article I will review what an ETF is, take a close look at the fees, compare ETFs and conventional funds, suggest some strategies, and provide you with a list of ETFs you should consider so as to construct an efficient portfolio. 在这篇文章中我将回顾一下ETF的是，仔细看看这笔费用， ETF的比较与传统的资金，提出了一些对策，并为您提供一份清单， ETFs的，你应该考虑等，以建构一个有效率的投资组合。
Efficient Asset Allocation: Stocks or Bonds? 高效率的资产配置：股票或债券？
One tough nut in investing is the question of asset allocation:how much money should you invest in short-term bonds? 一个严峻的螺母在投资的问题是，资产分配：应该提供多少钱，你投资在短期债券？ How much instocks? 多少instocks ？ There's much debate over this point, but I will do my best togive you some sound advice. 有很多争论这一点，但我会尽我所能， togive你一些中肯的意见。 You do need to heed this warning, though:there are no guarantees: For every possible investment strategy thereis a future in which it was the wrong choice. 你必须注意这个警告，虽然：有没有保证：对于一切可能的投资策略， thereis未来在哪，这是错误的选择。 First, we will cover the basics and work out the absolute minimum amount you should have in bonds. 首先，我们将涵盖基本的工作，并制订了绝对的最低金额，你应该有债券上。 What's left can go into stocks. 什么的左侧可以进入股市。 Then we will turn our attention to the efficient frontier: the interesting, counter-intuitive property of the market that it is always better to have a mix of stocks and bonds than to have 100% of just one or the other. 然后我们将我们的注意力转向了有效前沿：有趣的，反直觉的财产的市场，这是较好的办法是有一个组合的股票和债券，较有百分之一百的只是一个或另一个。
Picking Stocks: Avoid What You Know 采摘股票：避免什么，你知道
Many people think that you should only invest in the things you know well. 很多人都认为你应该只投入，在东西你知道好。 Famously, Peter Lynch wrote in books like One Up On Wall Street that you should be able to pick great stocks by reflecting on things you see in your job and in your daily life. 著名的彼得林奇写在书本上像一对华尔街说，你应该能接大股反思的东西，你看在你的工作和你在日常生活中。 Accordingly, computer programmers tend to invest in software firms, doctors in drug companies, and bankers in financial services, each believing that their expertise in their industry will help them earn an improved return.It sounds like common sense, but it's dead wrong. 因此，计算机程序员倾向于投资于软件厂商，医生，在药物公司和中央银行行长是在金融服务，每以为自己的专业知识，在他们的行业会帮助他们赚取改进return.it听起来像是常识，但它的死是错误的。 Investing in what you know is the last thing you want to do. 投资什么，你知道的是，过去的事是你想做的事。 To understand why, we will have to think a little on the nature of risk. 要了解为什么，我们将不得不考虑一点就什么性质的风险。
The Birth of Plenty 诞生充裕
Another excellent book by William Bernstein: The Birth of Plenty, How the Prosperity of the Modern World was Created.I haven't included this one in the Book Reviews main list because it is not specifically about investing, it's more an economic history of the world. 另一个优秀图书，由威廉伯恩斯坦：出生宽裕的日子，如何繁荣的现代世界是created.i并不包括这一次在书评的主要名单，因为这不是具体谈谈投资，它更是一种经济史的世界。 Explores the notion that the four factors which led to modern prosperty were property rights, scientific rationalism, efficient transportation/communication, and advanced capital markets. 探索概念，即4个因素，而导致现代prosperty分别为产权，科学理性，有效率的交通运输/沟通，以及先进的资本市场。 The fundamental question the book asks is, what happened around 1820, the year that modern economic growth appears to begin? 根本的问题，这本书问的是，什么事1820年，在这一年即现代经济增长似乎开始？ It is not simply a matter of "the industrial revolution", but rather what caused that revolution, and what enabled first Holland, England, and America to translate their advances into sustained progress where previous civilizations failed. 这不是一个简单的问题： "工业革命" ，而是直接导致革命，是什么让第一次荷兰，英国，美国把自己的进步转化为持续的进展，在前面的文明都失败了。
The Globe & Mail Misleads On When To Sell 全球＆邮件误导关于何时出售
The Globe & Mail is running a story on when you should sell a mutualfund that has been underperforming:Too patient with your funds? 全球＆邮件是运行一个故事，就当你要出售mutualfund一直不佳：太耐心与你的资金？ [Globe & Mail; 20 Nov. 2004].The article investigates several funds which have "underperformed" asa way of illustrating how you might analyze your own funds. [环球＆邮件; 2004年11月20日] 。本文调查的几个基金，其中有 " 低于" ASA的方式，说明你如何可能，分析自己的资金。 There areseveral gross errors in this analysis that investors ought to be aware of.This article suggests that investors who "buy and hold forever" aresomehow fools--which may just be an attempt to fool you into churningyour money, earning transaction fees for companies that advertisein the Globe & Mail. 有areseveral粗差在这项分析认为，投资者应该意识到of.this文章建议说，投资者"买进和持有永远" aresomehow阿斗-这可能只是试图愚弄了，你们到c hurningyour钱，赚取交易手续费为公司advertisein全球＆邮件。
Past Performance of Mutual Funds and Stocks 过去的表现，共同基金和股票
Will a mutual fund that has been a winner for the last five yearsmore likely be a winner next year? 将共同基金已是赢家，为过去五年yearsmore可能是一个赢家明年？ Will the stock of a company thathas been rocketing up for the past few weeks continue its ascent?Will returns in an S&P-500 index ETF over the next twenty years be roughlywhat it has been on average over the last hundred? 将股票的公司thathas被三级跳，为过去数周继续上升，是否会回报在标准普尔500指数的ETF在未来二十年成为roughlywhat已平均超过过去百年？ Absolutely not. 绝对不是。 Thepast performance of a fund, stock, or even stock market as a whole isno indication of the future return.It's not just some lawyer's disclaimer that you can ignore,"Pastperformance is no indication of future returns" is a fundamentalprinciple of investment. 对外开放的表现，基金，股票，甚至股票市场作为一个整体滴沙漠迹象显示未来return.it奇摩不只是一些律师的声明说，你可以忽略， " pastperformance是，没有迹象显示，未来的效益"是一个fundamentalprinciple的投资。 In fact, good past performance is more oftenassociated with poor future returns, for reasons that go to the veryheart of the theory of investment. 事实上，在过去的良好表现，更oftenassociated与穷人，未来的效益，其原因去到veryheart的理论投资。 In this article we'll explore whatyou can learn from looking at historical data, and what you can't. 在这篇文章中我们将探索whatyou可以借鉴看历史数据，你不能这样做。 Letthe buyer beware. letthe买方提防。
Pay Off Your Debts 还清你的债务
Most of the time, for most consumers, debt is a bad thing. 大部分的时间，对大多数消费者，债务固然是一件坏事。 |
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