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Canadian DRiPs
Moderator is Robert D. Gibb

Date: 3/18/2009 9:53:27 AM
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Author: StoneDRiP Country Flag
Subject: 20578/35606 - Re: Derek Foster on CBC about his new book
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Kudos to someone who's gotten to where he wants to in life...that's what comes across with Derek.

In a ten minute interview, hard to get in depth details but for those of us that have followed him, we know that he's 'sold out'.

He made over $200,000 I understand with his books. He states in his books he didn't write them for the money but I personally find that hard to believe.

He has taken strategies from others and repackaged them in his books. Again, good for him but he's not following what he's written. What happened to holding forever ;)

Here's some of what he's done or doing
-when he was younger he borrowed to invest and sold for a huge gain. He says that was a mistake and he got lucky...no kidding. He could just as easily lost everything.
-reducing debt, any debt including mortgage, of course means that money being used for that can be used for other things like investing or not needed altogether.
-from this board and Cdn Mnysvr, he became a dripper. Now, he's sold everything so he's abandoned that strategy, which is the premise for one of his books.
-because he has 4 kids, and soon to be 5 he says, he gets an income from the gov't. He's substituting employment income with gov't program income. He subsidized this with dividend income...and book sales!

Derek mentioned the 1929 crash and how it's going to get worse..based on what happened after that.

Could very well be true..who knows...but if you're a long term investor...you don't need to sell...and div yields right now are quite high...we're getting paid to wait

Interesting that if you're with Tom Connolly, in up or down markets, his strategy doesn't change. Buy dividend paying stocks with an eye to value. Over the long term, your dividend yield increases.

Interesting to see what 'new' strategies Derek comes up with next...I'm sure we'll all be watching.


 
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