Canada is already in the middle of a recession: Purpose Investments CEO
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- เผยแพร่เมื่อ 14 ก.พ. 2024
- Som Seif, founder and CEO of Purpose Investments, joins BNN Bloomberg to talk about navigating economic uncertainty in the markets.
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The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the Canadian dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.
Glad to have stumbled on this comment, Please who is the consultant that assist you and if you don't mind, how do I get in touch with them?
Svetlana Sarkisian Chowdhury a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
Recessions are an unavoidable part of the economic cycle; all you can do is prepare for them and plan accordingly. I graduated into a slump (2009). My first job after graduating from college was as an aerial acrobat on cruise ships. Today, I work as a VP for a global corporation, own three rental properties, invest in stocks and businesses, run my own company, and have increased my net worth by $500k in the last four years.
It's a delicate season now, so you can do little or nothing on your own.
Hence I will suggest you get yourself a professional that can provide you with entry and exit points on the securities you focus on.
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
incredible, a fantastic start to financial independence! How can I contact your FA.
Wright promptly do a web check where you can connect with her Margaret Johnson Arndt“, and do your research with her full names mentioned..
Thank you for this tip. It was easy to find on web your coach Margaret Johnson Arndt Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
“How to secure wealth during a recession” Do this
Making money is action, keeping money is behavior and Growing money is knowIedge.
I am fortunate I made productive decisions that changed my life forever (accumuIated over a MiI) through my finance-mentor. I'm a single parent, bought my house in January and hoping to retire at 54 by next year.
resear ch my mentor ⤵️
*Rebecca Martin Watson*
l’m amazed to partake on this, lt has rekindled the fire to my goals.
My utilities were $1000 last month on a 2100 sqft house.. We had a cold Jan here in Berty.
In the 90s Gas was also 0.46 cents a liter back then and a loaf of bread .50 cents. All including trip to Mexico was $600 for a week.
It's not normal to have the average house prices 14x the average salary and have high interest. When interest rates where 10x+ houses cost 3-4x a yearly salary.
Lets raise rates another 100 basis points and see what happens!
What is the current rates in canada? In Oz it's 4.25% people keep bitching about it too.
Great video, thanks for sharing it!
great video? lmao
wonderful rrsps! mine went down in nominal value 5% in five years.
It's okay, household budget will balance itself...........oh wait.
Yes we are in the middle of a recession but we have to keep interest rates high as inflation is too high for Canadians of limited and modest means.
Net Flow of Funds into Purpose tells a different story. Half of Canadians are struggling while the other half makes excess money.
Som is a smart dude. We were friendly in University too, and he's a good dude too. Glad he ended up as an expert - he deserves all the recognition he gets.
The right measure is growth in GDP PER CAPITA. By that measure, we have been in a recession for years as our living standards get undermined by low productivity, high taxes, punitive and costly government regulation, excessive government spending on borrowed funds and a very poorly led Bank of Canada. Governments are focused on Debt/GDP and simple increase in GDP - because it allows them to borrow and spend more and run more government deficits. Need to focus on PER CAPITA measures as that is what is really important to the citizen.
How much were the properties and vehicles when the interest rate was higher? Was the average house price 800k and average new car 66k?
Double since pandemic started
@@user-se7ul6zt1l
My dad sold a house to a friend in 1986 for 46k
Interest rates were around 20%.
Average incomes were 25k.
House price was only 2× income, but interest was 40 to 50% of yearly income.
Wasn't really that different.
@@user-se7ul6zt1l
Lots of people ended up paying more than half their income to the bank.
In the end, they all lost
I was gobsmacked to learn/realize recently that the average income in the early 80s (when I was a tween/teen) was higher than average housing costs.* The 18% interest rate back then was negligible when homes (etc.) were actually affordable.
*Search "House price vs Income since 1984 in Canada" by "The Beauty of Data" for an eye-watering infographic/animation
Just reached 21.000 after 1 year of savings and now 3 months of steadily investing in ETF.
Can't wait to reach 100k.
Zero debt , zero credit card ever.
First hit $100k in early 2020, that covid dip really hurt at the time. 4 years later that dip is barely noticeable on the long term chart and we are well over $300k with increased contributions in recent years.
I deal with an investment advisor for this reason. I currently have over $70k invested in a diversified portfolio that has grown exponentially and is suitable for all market seasons under guidance. Our current project for this year is a more concrete ballpark target this year.
People are spending because they have to. They still need to eat and put gas on their car to get to work any pay the utility. I'm not sure how many can spend on luxury items but for most people, it is just essential.
Navigating in the late 70s early 80s in Vancouver was tossing your house keys to Royal, Montreal, and CIBC banks as you walked away.
how much did the price of food go up during that time?
just change the definition again... that always works
This dude is spot on.
My business in construction hasnt had work in 8 months.!!!
Same here like my phone stopped ringing in August 2023
Yes, most likely, we are in a recession. I am a small business owner, and we are not stable for the last 12 months. Some weeks, we are busy, but some weeks, we are so slow. How long will this go for? I don't know. Hope things get back to normal again.
Ok then are you prepared along with other canadians to bear the costs needed to fix the root causes of this recession? Are you prepared to participate in this democracy to make living costs affordable for the labour force so they can sustain businesses as labour and customers? Or are you going to silently grumble and complain when your standard of living stagnates or falls because many canadians seem to think raising a fuss for a better future is too much trouble? Its a democracy, it requires citizens to participate to fix problems.
What is a sick market ?
These bank reps are out of touch with reality....People still spend but are putting more on credit cards and thinking that Canadians with these mortgages can live with a 6% + in interest is dreaming....
i like their purpose cash USD 5.40% fund,
When people stop lining up to shop at costco, apple store and starbucks then we are in a recession.
Have you seen the explosion in the number of low cost grocery stores or the increase in sales being offered by retail, or the increase in people seeking cheaper prices online? Disposable income is falling as it gets eaten up by mortgage and rental costs in what to me at least, is a self made housing crisis because enough people decided it was ok to leave housing to the private market.
I feel like I am taking investment advice from a flight attendant, since the only time I see this guy is on every single Air Canada flight, ever.
We have a booming economy which will grow faster only direction is opposite😁
Canada, Germany, England - America is next
Just say the word and be honest
E ceva diferit sygur😮
Speculators need to suffer, a whole generation of investors just been riding the gravy train.
People are NOT spending. Restros are empty on Valentine's. People buy the cheapest crap. Cut now or else...
Only half of people will ever feel the squeeze from this.
Most, if not all of the 30% of home owners with no mortgage and anyone who bought more than 8 years ago will never feel it.
The people who are feeling the squeeze is most renter's, people who bought in the last 8 years, and people who tapped into their home equity for more RE or toys.
Like my father always said. Your responsible for your own decisions, the govt will not save you.
Yeah its all on basics now even for many middle class. Wait that means that many in our middle class are now effectivelly on poverty level budgets in many cases. Just my opinion.
Yeah, god damn my irresponsible decision to not get into the real estate market at 12@@user-vi8ci2bi6b
@@user-vi8ci2bi6b What in the world are you talking about? Tons of "small" business people own or bought their home long ago, but their business is bringing in the lowest amount in history. Who cares if you own your home but your business went from 20k a month to 4k. You're feeling it.
@@CommoditySC
In Canada
You can fold the business and leave your home out of the insolvency
As an investing enthusiast, I often wonder how top level investors are able to become millionaires off investing. I do have a significant amount of capital that is required to start up but I have no idea what strategies and direction I need to approach to help me make decent returns
that requires a fair amount of research and good market timing
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again.
I really acknowledge your comment, i have been trading stocks for a while now but i have not been able to make much. how do you achieve this feat?
Determine your risk tolerance first and foremost.
Be aware that it costs money every time you buy and sell a stock. A lot of people think they can make a nice profit by buying a stock when it dips down a little and then dumping it when it recovers but they fail to factor in the considerable fees the brokers charge you to place your orders
Also be aware that it's basically gambling, it shouldn't be done with money you're going to need in the future, consider whatever you invest already lost
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
The more immigrants, the more people to spend and therefore spending will increase regardless
But if per person disposable income keeps falling because the living cost keeps increasing from lack of affordable rental or for sale properties, how is the economy actually supposed to grow?
Spending is mostly due to Inflation. We don't have to buy more to spend more. I do feel that we are in recession. I did know that inflation was a problem well before BOC recognized it. This time, I see recession right with us while BOC is wondering if we will enter recession. Economists are the dumbest people these days. Go and spend one day a week going around and spending money on various things. We can feel it if you do it regular bases.
Invest , then your debt goes away much faster. Yes.
Canada is absolutely in a recession!!!
FEB360/8/7/25/2024/30/24
You just can't make enough money in Canada. Hahahahaha
Abolish the central bank, keep interest at 3%
Just take it to zero interest rates, right? Free money
This opinion isn't worth the data it's carried on. Thumb down
😂this recession already happened many years ago but canada leader never admitted 😂😂😂