small dead animals: Income Trusts And Magical Guesses

November 28, 2005

Income Trusts And Magical Guesses

Barry Critchely of the Financial Post wasn't the only one who noticed something funny was going on in the markets...

Last Wednesday afternoon when I entered my stock prices into Quicken, I noticed something odd. The price for Fording Coal had risen sharply throughout the week. The most recent news for Fording was from October. When I read the paper the next day though, the answer was crystal clear: at least some investors magically guessed that the Liberal government would back off from their plan to tax income trusts.

There are graphs.

Via Peaktalk

Posted by Kate at November 28, 2005 12:06 AM

TrackBacks

TrackBack URL for this entry:
http://www.smalldeadanimals.com/mt/mt-tb.cgi/2983

Comments

This is big. Very big.

Posted by: John Crittenden at November 28, 2005 2:08 AM

John, If you just google News Max - an outfit in the U.S. that sends me e-mails you will find that they have been all over this for about two weeks.

Posted by: Jema54 at November 28, 2005 2:17 AM

Blue Horseshoe Loves Endicott Steel.........

That movie laid out the process pretty well. I would look for other trading activity done "on behalf of" others. Not the big fish, they wont be so stupid but all of the grasping little fish trying to improve their lives....

My experience with Barry Critchley is he has good sources. So while his writing is nicely legalized to leave open doors he more often than not has a good solid inside source. Barry has been told who knew, he just cant write it down or someone, can't say who, will threaten to sue him.....

Remeber....Blue Horseshoe Loves Endicott Steel....

Posted by: Stephen at November 28, 2005 5:38 AM

You know what, folks?

The RCMP will NOT investigate the apparent insider trading offence.

Why?

The PMO won't order them to do so.

Posted by: Canadian Sentinel at November 28, 2005 6:56 AM

What will be interesting is IF the Liberals look like they are going to lose you will see lots of crap come out of the woodwork. People will speak then, but not until then.

Sadly Sentinel you may be correct. However the OSC is provincial creature, albeit a toothless one to date.

As Chris Hitchens says...heat is not the antithesis of light but its source.

Keep up the heat. "Blue Horseshoe" will have a light on them soon enough.

Posted by: Stephen at November 28, 2005 7:36 AM

The Americans are properly throwing these flim-flam artists in jail. In Canada, they are revered and re-elected.

Yes, folks, Canadians are indeed morally superior the Americans, aren't they?

Scary? Scary is having your life-savings pissed away by every conceivable method in order that the Natural Governors may retire in comfort. Wake up fools and kick this trash all the way to the dump (for Torontonians, that would be in Michigan).

Posted by: Shaken at November 28, 2005 8:34 AM

CS, is that why CSL wasn't looked at after the crew said they knew nothing about cocaine?

Posted by: Bruce Randall at November 28, 2005 8:41 AM

Medisys Health Group - Income Trust (PM PM family's private medical clinic) Optics aren't very clean when the Prime Minister and his family are using a Private Health Clinic - family doctor and all kinds of advanced scanning (Private Pay!). WORSE is the Prime Minister's doctor's health services business has its own Income Trust. I wonder if CARP and the Retired Teachers invest in it?? I wonder what Carolyn Bennett (Liberal minister) thinks of this? I wonder if Martin's doctor, Sheldon Elman had conversations with Ralph Goodale? (Sheldon Elman is married into the Bronfman family)

Take a look at the website: www.medisys.ca

Posted by: Ann at November 28, 2005 8:48 AM

If the leak was to known Liberal friends, then presumably, they'll donate to the party, which has nowhere near the money the Tories have. Is this another kickback scheme, only this time, in a province where they'll be granted virtual immunity? I don't know enough about financial issues, but it seems to me this would be a great way to raise more money for the party, and if we had a real police force, they'd be watching the bank accounts of those who benefitted from this to see whether there are any large cash withdrawals. Oh, and maybe check out Grand & Toy for a run on big brown envelopes.

Posted by: Iron Lady at November 28, 2005 9:12 AM

Instead of complaining why don't we research the numbers. This data is publically available online I believe. We can narrow down when the trading anomalies started. You can look for the brokerages that put through the trades. Look for smaller brokerages with unusual trading volumes. I would look in the options trading of dividend stocks, like banks. Easier to spot monkey business. That probably drove the rest of market through a bandwagon effect. Also, the dividend tax cut was from out of the blue. That would definitely be inside info.

A couple hundred people looking over this data are bound to find at least one smoking gun. You don't have to be the RCMP or the OSC to do that.

Posted by: PlaidShirt at November 28, 2005 10:53 AM

insider trading headline pulled from Pravda.

lasted less time then the story of the Royal Winnepeg ballet's reduced tuition.

Its whats important to the staffers.you get all this for only $3000/viewer . and a censored Don Cherry as well.

Posted by: cal2 at November 28, 2005 10:58 AM

In the USA there are simply too many people pay off in order to do what our government does here.

Small poplulation, lots of wealth = big crime at the top and no one who matters to complain about it. Poor countries do this with police repression, but we can do it with cash and senate appointments.

Yes, we are so morally superior to the USA .. ask their jailed CEOs about that.

I hope Canadians will finally notice that our bleeders have not been sending da right message.... But we now have good opportunity to send the right message to them.

Good morning beavers!
Have a laught at Duke's Place

Posted by: Duke at November 28, 2005 11:03 AM

It would be interesting if it could be established that some of the same buyers shorted the same stocks before Goodale's original announcment.

Posted by: DT at November 28, 2005 11:54 AM

Let's see, maybe $100,000,000 quick insider trading profits for the Liebrals' best buds. Then the obligatory Liebral 30% commission skimmed off the top!

Not bad for a couple weeks of "organized" scamming! So what if a few hundred thousand retirees and worker drones got burned in the process. Da Family came out of it pretty well. Probably $30,000,000 for a campaign warchest coming back from all the lucky buds in the know!

Ah yes, "organised" crime is the only way to go, why think of all the good the thieving Liebral mafia bastards could do, if only they get another say, 12 years to do it!

Posted by: Slim at November 28, 2005 11:59 AM

Higher up in this post I said this was very big. It is. But I think it's only for the "accumulative" affect it will have on the election. After all, when a political party is so steeped in corruption as the current Liberal Party is, it must even be hard for the CBC to find much good to write about them. I've noticed they don't have as much to say about politics this time as they did last election at this stage.

I don't expect anything to be announced about any RCMP investigation until after the election.

I do hope that the second Gomery report will firm up the first and not come out with any lines Paul Martin can use. If there's only one he'll use it, and the CBC will repeat it ad nauseam.

I do wish, however, that some people would stop sharing their pillows with Liberals. This is dangerous. Why don't they fly in someone from the Playboy Mansion for this guy.

Posted by: John Crittenden at November 28, 2005 12:01 PM

20 billion in 10 days to sweeten electoral fortunes with the faithful....and counting...why should this not extend to the party which institutionalized nepotism and insider dealing?

This pre ( possible loss) spemding pree and its obvious extention to the partisan faithful who use insider trading techniques popularized by the Desmaris PMO, should be no shock to market watchers. This has gone on with the fed wheat price/trading/connected speculators for decades. I suspect there are a lot of happy oil/gas traders this winter as well.

Posted by: WL Mackenzie Redux at November 28, 2005 12:35 PM

Earlier this year (Feb. 23) Liberal Finance Minister Ralph Goodale removed the foreign content ownership limits in RRSP's (registered retirement savings plans).

This announcement came absolutley out of nowhere and blindsided everyone. One of the instant effects of this announcement was to drive the value of the Canadian Dollar dramatically downward.

Had parties been tipped to this announcement before it happened they would have been able to profited remarkably.

To profit from the Income Trust leak one would need to take a position in specific Income Trusts.

To have had prior knowledge of the RRSP announcement one could have profited from simply buying US dollar contracts. As the Canadian dollar fell, the US contracts become worth more. There does not have to be any movement in the US currency, the falling value of the C$ adds the value to the USD contract. Money markets trade trillions of dollars.

The potential was there for parties to make Billions of dollars in days without setting off any alarms.

This new leak scandal puts the old announcement in a new perspective.

Posted by: ward at November 28, 2005 1:26 PM

The Canadian economy is beginning to sound like a house of cards, and perhaps all this activity is meant to refurbish plundered coffers before they are audited by a new Tory government.

Posted by: Mrs Thatcher at November 28, 2005 3:52 PM

Posted by: tYEyelGpmB at December 5, 2005 10:43 AM

You have some really cool stuff at your site. I'm sure gonna come back here. Cards can Destroy Slot: http://www.eonline.com/ , Big is feature of Green Mistery to Destroy Slot you should be very Red , Tournament can Create Circle Green is feature of White Chair

Posted by: Dylan Johnson at December 7, 2005 3:50 PM