Insights: Fun facts about the stock market...and eggnog!
Good reads:
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·???????? 12 wishes for the new year
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Best quote of the week:
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“Why pay a dollar for a bookmark? Why not use the dollar for a bookmark?” – Steven Spielberg
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In the media:
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In my last TV interview of the year, I chat about opportunities in fixed income, how investors should be looking at their diversification, and much more.? As always, many thanks to Jenna Dagenhart and Asset TV Canada for the great chat.? You can watch the full interview here:
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Best soundbites of the week:
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For my final newsletter of the year, I thought I’d share some lighter reading.? Here’s some interesting stock market trivia that you can share at your holiday parties.
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Who came up with the stock market idiom: “bull and bear markets”?
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In the 1800s, Californians entertained themselves with all sorts of unusual spectacles, including fighting matches between bulls and bears. The two animals would be placed in an enclosed arena and allowed to battle each other for up to an hour. By the time the clock ran out, the bear was usually hiding behind a post while the bull was aggressively trying to gore the poor bear. Later, the analogy was applied to market traders, and the rest is history.
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How did the New York Stock Exchange come about?
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Although officially founded in 1817, the NYSE traces its roots back to the "Buttonwood Agreement" in 1792. The story goes that 24 stockbrokers met outside of 68 Wall Street, New York, and signed an agreement under a buttonwood tree, essentially starting the now famous NYSE.
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Why is Wall Street named that way?
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Wall Street has a very literal history, as the road was laid out behind a 12-foot-high wooden blockade meant to protect Dutch settlers from British and Native American attacks.
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How was the Toronto Stock Exchange (TSX) formed?
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The TSX traces its informal beginnings back to the formation of an association of brokers by 12 Canadian businessmen in 1852. On 25 October 1861, the stock exchange was officially founded through the passage of a formal resolution at Toronto's Masonic Hall. A total of 18 stocks could be traded. Trading in the early days consisted of half-hour sessions, which allowed for small numbers of trades.
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What about Canada’s famed Bay Street?
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Bay Street used to be known as Bear St when the thoroughfare was first created and obtained the Bay Street name when it connected another street to the Toronto Harbour. The area around Bay St and King St was once known as the "MINT" corner, because of the banks that stood there: Montreal Bank, Imperial Bank, Nova Scotia Bank, and Toronto Bank. Side note: My Raymond James office is located on this corner!
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Sources: Nasdaq, Nasdaq, Investopedia, The Canadian Encyclopedia
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Best visual of the week:
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What was the best trading day of the week this year?? Monday.
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According to Bespoke Investment Group, the S&P has averaged a gain of 0.27% on Mondays in 2023 with gains 75.6% of the time.? Since 1953, when the NYSE implemented the current five-day trading week, there has never been a year where the S&P closed higher on Mondays more often.
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You’re Invited: Ten Themes for 2024
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Please join us for a special zoom webinar with Raymond James’ Chief Investment Officer, Larry Adam.?
领英推荐
This presentation details our ten themes for the next investing year, highlighting the key trends and opportunities we see.
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Date: January 11, 2024
Time: 10:00 am PT / 1:00 pm ET
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Guest Speaker: Larry Adam, CFA, CFP, Chief Investment Officer of Raymond James Financial Inc.
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Contact me for a registration link: [email protected]
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2024 TFSA contribution limit:
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The TFSA contribution limit for 2024 is $7,000. The total contribution room available in 2024 for someone who has never contributed and has been eligible for the TFSA since its introduction in 2009 is $95,000.
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I’d love to hear from you:
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Do you have a question about the markets? Or perhaps you’d like to learn more about a particular financial planning topic? Maybe you’ve got a question about your own personal situation?
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Send me your question, and I’ll include it as a topic in an upcoming newsletter: [email protected].
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Beyond the markets:
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It’s that time of year when many people enjoy a little eggnog with their holiday festivities.? So with that, here are some interesting facts on the drink:
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·???????? Eggnog most likely originated in medieval times. Most historians trace eggnog back to posset, a hot milk-based drink comprised of spices and wine, which became popular as early as the 14th century.
·???????? George Washington had a (now-famous) super-boozy eggnog recipe. It was reportedly one of his favourite concoctions.
·???????? Puerto Rico has its own holiday drink that's similar to eggnog. Coquito is a traditional Puerto Rican Christmas drink, and it’s typically made with coconut milk, rum, nutmeg, cinnamon, and, depending on the chef, sometimes condensed milk, and sometimes egg yolks.
·???????? Eggnog is sometimes referred to as a "hell's angel." In Stella Gibbons’s 1932 novel Cold Comfort Farm, one of the main characters makes a beverage called a Hell’s Angel, consisting of one egg, one teaspoon of cream, two ounces of brandy, and some ice.
·???????? December 24th is National Eggnog Day!
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And if you’re wanting to make George Washington’s eggnog recipe, here it is (in his exact wording):
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One quart cream, one quart milk, one dozen tablespoons sugar, one pint brandy, ? pint rye whiskey, ? pint Jamaica rum, ? pint sherry—mix liquor first, then separate yolks and whites of eggs, add sugar to beaten yolks, mix well. Add milk and cream, slowly beating. Beat whites of eggs until stiff and fold slowly into mixture. Let set in cool place for several days. Taste frequently.
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Source: Mental Floss
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Thanks for reading, and I wish everyone a wonderful holiday season!? All the best and I’ll see you in 2024!
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Cheers,
Kim
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Kim Inglis, BCom, CIM, PFP, FCSI, RIAC
Portfolio Manager
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T: 416.777.6417 (Toronto)
T: 604.654.1160 (Vancouver)
T: 250.979.1803 (Kelowna)
TF: 1.877.363.1024
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The opinions expressed in this newsletter are those of the Financial Advisor Kim Inglis, BCom, CIM, PFP, FCSI, CAFA and not necessarily those of Raymond James Ltd. (“RJL”) or Raymond James (USA) Ltd. (“RJLU”).? Statistics, factual data and other information presented are from sources, believed to be reliable but accuracy cannot be guaranteed. It is furnished on the basis and understanding that Raymond James Ltd. and Raymond James (USA) Ltd. is to be under no liability whatsoever in respect thereof. It is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Raymond James Ltd. and Raymond James (USA) Ltd. financial advisors may only transact business in provinces and/or states where they are registered. Follow-up and individualized responses involving either the effecting of or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made to persons in provinces or states where the financial advisor is not registered. Raymond James Ltd. is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund. Raymond James (USA) Ltd. is a member of FINRA/SIPC. Raymond James (USA) Ltd. (RJLU) and advisors may only conduct business with residents of the states and/or jurisdictions for which they are properly registered. This provides links to other Internet sites for the convenience of users. Raymond James Ltd. is not responsible for the availability or content of these external sites, nor does Raymond James Ltd endorse, warrant or guarantee the products, services or information described or offered at these other Internet sites. Users cannot assume that the external sites will abide by the same privacy policy which Raymond James Ltd adheres to.