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September 2002
Although economic indicators projected consumers with a better outlook for 2002, consumer confidence suffered a major setback with the revelation of misleading accounting practices by several U.S. Corporations. In the wake of these revelations the Ontario Securities Commission announced on August 15, 2002 that it will be increasing, temporarily, it's Continuous Disclosure Reviews. This will allow the OSC to carry out very thorough and timely reviews of 44 Ontario based companies, to promote investor confidence in corporate financial disclosure. On a positive note, now is the time for investors to take advantage of the bargains available due to low markets. Depressed share prices, rising earnings and a high level of investor skepticism have typically combined to produce better than average returns in subsequent quarters. Finally the Bank of Canada rate remains at 2.75%, although economists predicted a rate hike due to the strong Canadian economy. The Bank of Canada cited a weakened global economy and the increased uncertainty of the global financial market as contributing factors in maintaining the current interest rate. Cornerstone Capital Financial Group is pleased to answer any financial questions that you may have. Please feel free to email your questions to us at info@cornerstonecapitalfinancial.com
For further information, or to get started on some solutions for you, please contact: Mutual Funds Sponsored by Fundtrade Financial Corp
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