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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: Bosco who wrote (1043)	9/30/1998 8:25:00 AM
From: James P Shaw	Read Replies (2) \| Respond to of 14638

> G'day all - dear Walter, you asked, "When does the Canadian social > security system start buying Canadian stocks?" The social security fund does not invest in stocks. The social security or Canadian Pension Plan fund (CPP), I believe , is only allowed to invest in Bonds (please correct me if I am wrong). For people like me, it will be worthless when I retire (not enough contributors and too many withdrawers). >> My canadian friends in this thread can correct me if I am wrong, >> but the canadian pension [one of them anyway] RRIA [? or something >> like that] has the stipulation that a percentage must be in the > canadian stock funds [if their accounts are equity fund.] This is >> in contrast with the US that one's IRA and 401K accounts can be >> 100% foreign funds [although most people I know prefer to stash >> their retirement money in the domestic funds b/c of the foreign >> tax issue.] Its called an Registered Retirement Savings Plan (RRSP). Money put in is tax sheltered until pulled out. At 71, (I don' know if they changed the age), you must pull it out of the RRSP, and most will invest in an annuity fund (Registered Investment Fund, RIF). We are allowed only 25% of the stock to be invested outside of the Great White North. They have been trying to raise this rate for a while now. It is a 'socialist' attempt to invest in the country's future. On a side note about the news! The company should be careful how it announces to the market. This market is so flaky and jittery. COGNOS (makers of Impromptu, PowerPlay, BI products) just recently reported record profit and revenue, but announced that they wouldn't grow as much, they will continue to grow and make wads of money, but the rate at which they grow will slow. Guess what the great investors (or should I say short-term glory/profit creatures/investors) did to the stock. It dove about $2-3 US in a couple of days. I read an article the other day about people quitting the working world and joining the on-line trading game. They buy stock and sell within a day looking for quick cash. Some get burned, and some make a lot of money. I believe that wait for the money grubbing people to drive the stock down a little more (it will probably bottom out at $30US) and then buy. The market that Nortel is enterring is a whopper of new market. I have never seen Telcos (Lucent, ALCATEL, Siemens, NT, etc...) move so fast. Usually they are slow prodding animals (like elephants). Ciao! Jim Shaw