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Traders work at their desks at Frankfurt's stock exchange August 8, 2011. (KAI PFAFFENBACH/REUTERS/Kai Pfaffenbach)
Traders work at their desks at Frankfurt's stock exchange August 8, 2011. (KAI PFAFFENBACH/REUTERS/Kai Pfaffenbach)

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Rob Carrick on investing strategies for volatile times Add to ...

I'm a first time investor with money to spend. I don;t know much about this world, but what I do know is "buy low/sell high". This seems to be a fabulous

12:54

Rob Carrick - Dan, let's just say that it's a much better time to buy stocks than it was several months ago. But you have to be able to stomach more declines ahead. There are long-term rewards in stocks, but also short-term pain.

12:54

[Comment From Guest ]

Should you hang on to current assets rather than move more of the portfolio into bonds

12:54

Rob Carrick - Hang on.

12:55

[Comment From Albin ]

I love the smell of napalm in the morning. But it's August after all. With all the big money in the Hamptons or global equivalents, do you take anything seriously before Labour Day?

12:56

Rob Carrick - Good one, Albin. But big money never sleeps. It's always watching and reacting. Post Labour-Day markets could be ugly, but I don't see why losses would be more severe then than now. It's all about what's happening in the moment.

12:57

[Comment From Ross ]

Hi Rob. What do you think of high dividend yield ETFs like the BMO COVERED CALL CANADIAN BANKS (ZWB)?

1:00

Rob Carrick - Ross, lots of investors are interested in covered call ETFs because of the big yields. But I'm a big believer in the theory that elevated yields mean elevated risks. I'll be watching ZWB and its peers to see how they perform in the current market. A very good acid test. Stay tuned.

A recent column i wrote on covered call ETFs: http://www.theglobeandmail.com/globe-investor/investment-ideas/portfolio-strategy/covered-call-etfs-approach-with-caution/article2046613/ 1:00

[Comment From Guest ]

Hello Mr. Carrick, Much of my stock holdings are in US stocks. I have seen these drop about 10%to 20% in the last few days. Would it make sense to sell and put the money into some good Canadian stocks?

1:01

Rob Carrick - Tricky. The Canadian market depends on high commodity prices, and we won't see those if global economic growth weakens. There's a good case now for big multinational U.S. blue chips.

1:03

[Comment From Dan S ]

what are you thoughts on buying one of the big five CDN banks at these levels? the yields for BMO?CM are 5% currently?

1:03

Rob Carrick - Dan, given that Cdn banks don't have major exposure to European debt, I think buying now for the long term can make sense. The higher the yield on a bank stock, the less investors think of that bank.

1:04

[Comment From Colin Tunney ]

An "expert" on CTV New at 11 last Friday said "if you are a pensioner and still in the market, your financial adviser is not doing his job". Your comments please.

1:05

Rob Carrick - Disagree. You can be a pensioner who is sensibly holds some dividend stocks for income. Also can make sense to keep a bit in stocks to add some growth to your retirement investments. That said, preservation of capital and income are your prime goals when you're retired.

1:05

[Comment From Neil ]

what do you think of the RBC Canadian Dividend fund in this economic time?

1:06

Rob Carrick - Neil, I think this and most other big bank Canadian dividend funds are ideal core investments for many investors. The RBC fund has super long-term numbers.

1:06

[Comment From J*town ]

Do you have any advice for a new investor in this current economic situation?

1:07

Rob Carrick - Get used to it - that's my best advice. There will be ups and downs in the market for a long time to come.

1:08

The Globe and Mail - Thanks for taking the time to answer so many questions today, Rob. Sorry we didn't have time to get to everyone's questions.... we got tons!

1:09

The Globe and Mail - Personal finance and investing writer Gordon Pape will be online tomorrow at 11am ET to take more questions on investing in today's volatile markets. Join the chat here: http://www.theglobeandmail.com/globe-investor/investment-ideas/are-your-investments-working-for-you/article2122801/

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