Decade of Daddy Mirror Fund

Time to exit the 35,000 CIBC at $61.50 on our Decade of Daddy Mirror Fund™. Now that the problems in the U.S. have started to leak into Europe and Iceland, we don’t want to be holding four different banks (we are retaining BNS, JPM and MER) at this point. Cash is up to 19%.

Over that the real Decade of Daddy Fund™, NAV’s treading water at $10.35, down 14% from the $12.00 IPO price. O’Leary Global Equity Fund units (OGE.UN:TSX) are trading at $12.10, a dime above the IPO price.

MRM
(Disclosure – we own BNS in our household)