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Well thanks to the government changing the laws that govern Income Trusts some of my holdings took a "poop kicking" yesterday. Nothing like the bath I have taken previously for other great ideas like "Nortel can't go below $100", and others, but still it is never nice to see a stock you hold take that kind of drop in one day.

Our friend over at the Canadian Capitalist has a very good overview and set of notes on the whole Income Trust issue, which is well worth reading. He points to a very good article in the Globe and Mail discussing Income Trusts as well, again more worthwhile research and reading for those of us who invest in the market.

Am I worried? Not really, I assume the stocks I hold will rebound eventually on the basis that they are sound businesses, not just because they found a neat way to save tax money. Did the government do the right thing? We'll see I guess, but if it means that the playing field is more level and it means tax burdens don't shift dramatically (as was being predicted), it should be a good thing. --C8j

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