The Canadian Income Trusts meltdown has been all over the news lately, but it has received only a few mentions thus far on Blogging Stocks. Perhaps investment news north of the border simply don't make Blogging Stocks' top ten business stories of the week? But if you appreciate patriotism, allow me to demonstrate some as I add in my two cents. Sometimes, these market turmoils may prove profitable for opportunistic investors.
I've been a very disloyal Canadian investor. For the last two years, I've only batted eyes at U.S. companies while the Canadian indexes kept creeping higher. However, I've recently taken interest in beaten-down Canadian companies such as Loblaw, and Canadian oil and natural gas income trusts. My interest started with these income trusts due to their pricing issues in July and August, as well as the Amanranth hedge fund debacle. Such negative news always peaks the interest for the contrarian in me. I can't believe my new interest in income trusts has come at such a time of opportunity!
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