Time Shares: Lowball Offer and Railway Shares

time shares: He knew something was wrong when his lowball offer for Canadian Pacific Railway shares, lobbed in at 1 below the asking price, was instantly accepted, according to The Independent. It was October 1987 and by the time the shares he had traded overseas opened on the Toronto Stock Exchange hours later on what would become known as Black Monday they had dropped a further 5 per share. Peter J. Thompson/National Post Barbara Shecter July 11, 20198 50 AM EDTLast Updated July 12, 201911 33 AM EDTFiled under NewsFP Share this story The smartest guy in the room How pension guru worked his magic, beat the market and saved Home Capital Tumblr Pinterest Google Linked InRelated Stories Chasing Edison Meet Canada's most prolific arguably inventor who sees ideas everywhere The greatest thing since sliced bread is ... old-fashioned bread Inside one baker's mission to transform Canada's loaves The story of Klondike Kate Carmack and the modern day sisters who moil for gold There are seminal moments in any career and Jim Keohane's is a doozy. Keohane, who will step down next year after a widely praised 20-year run as chief investment officer and then chief executive of the 79-billion Healthcare of Ontario Pension Plan HOOPP recalls that his loss on that day's trade was painful as markets historically tumbled to a depth and at a speed few thought possible, but it was far from the worst thing that happened. function var func function var iframe form var iframe if iframe form && iframe iframe form.submit ; iframe.onload function 'msg type' 'poll size', 'frame id' window.location.protocol '//wpcomwidgets' ; // Autosize iframe var func Size Response function e var origin document.create Element 'a' ; origin.href e.origin; // Verify message origin if 'wpcomwidgets' ! origin.host return; // Verify message is in a format we expect if 'object' ! typeof e.data undefined e.data.msg type return; switch e.data.msg type case 'poll size response' var iframe document.get Element ById e.data. request.frame id ; if iframe && '' iframe.width iframe.width '100%'; if iframe && '' iframe.height iframe.height parse Int e.data.height ; return; default return; if 'function' typeof window.add Event Listener window.add Event Listener 'message', func Size Response, false ; else if 'function' typeof window.attach Event window.attach Event 'onmessage', func Size Response ; if document.ready State 'complete' func.apply ; / compat for infinite scroll / else if 'readystatechange', function if document.ready State 'complete' func.apply ; false ; else if document.attach Event document.attach Event 'onreadystatechange', func ; ; The firm where he worked, Wood Gundy & Co., had just agreed to underwrite a large stock issue by British Petroleum Co. at a guaranteed price, and the loss triggered by the market collapse nearly toppled the independent investment dealer, and pushed the previously well-capitalized 82-year-old firm into the arms of Canadian Imperial Bank of Commerce. That's why Wood Gundy did the deal with CIBC, because they were effectively bankrupt. They were trying to get out of the BP deal, but they couldn't and they were practically bankrupt, Keohane recalled during a lengthy and wide-ranging interview at HOOPP's new headquarters on Toronto's rapidly developing waterfront. (news.financializer.com). As reported in the news.