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Tuesday, June 14, 2011

Xavier Rolet as new CEO of the Toronto Stock Exchange?

On date of June 13, 2011, here are the latest data:

Non-registered portfolio value: 110 842$
Money still available on margin: 19 425.13$
Margin account in use: 41 398.61$

The money left on the margin is less than 20 000$... The situation is getting more difficult. But I always have that 5 000$ available on my credit line that I can transfer at anytime of my margin account...

In order to decrease my margin account usage, I am looking forward to sell at profit HOD and HZD tomorrow if everything goes well. I get through the reading of an interesting article of the Globe and Mail regarding the situation for the TMX Group Inc. (X), merger of equals etc. An analyst of the name of Jeff Fenwick that I never heard of before advice investors of X to get out of the “poker game” and sell any holding of TMX Group Inc. (X). As you know, I had invested a couple of thousands of dollars in X and I am currently under profit and I am looking for more.

Unfortunately for him, what the analyst Jeff Fenwick doesn’t seem to understand is that this poker game will provide a lot of cash to the TMX Group Inc. (X) investors. And money is what it’s all about.

I am currently reading a lot about the TMX Group Inc. (X) merger of equals project and I have to say, this is not a decision that shareholders should be carrying on their shoulders. There’s way too much involve and high financial specialist should get involved. Like Eric Sprott for example and Jean-François Tardif. What both of them think of the merger of equals: a good or bad thing? First of all, I would like to understand why the TMX Group Inc. (X) wants to sell its business. Because that part, I didn’t get it. But it’s all about money right and the London Exchange Group is willing to pay 48$ per stock while currently, X closed today at less than 45$... So yes, there’s a lot of money involved in the deal.

The Maple does not appear as being a good decision. The exchange need to remain in a neutral territory and with Maple, the Canadian exchange will be hold by banks, insurance companies, not to forget the infamous Caisse de dépôt et placement du Québec and Desjardins Group. Do we really want the Canadian exchange to be partly hold by Quebec authorities? My answer is no. So at this time, I am strongly thinking about saying yes to Xavier Rolet and his France, saying yes to European crap. Because European crap is better than Quebec ones. But I didn’t take my final decision yet.

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