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Lessons to be learned from insurance company collapse : A A wondered what happened when a person or company spends beyond their means. Rational investors can learn from two recent events that have focused on the demise of a once f1 o uris hi n g company and a once successful sports figure. Confederation Life â€" Canada‘s fifth largest insurance company â€" has been forced out of business. Assets under management had grown to over $19â€" billion through a conservative and well â€"respected approach. The _ firm, however, paid the price :for . its a § gres s ive financing in the real estate market during the booming 1980s. After _ ongoing capital difficulties, governme‘nt regulators _ this month stepped into close their doors for good. Despite its glorious past, it became the largest insurance company failure in North America. It is at times like this that we are reminded iust how just how vulnerable a seemingly solid business can be. Similarly, we are also witnessing the demise of one of the _ most successful sports entrepreneurs of our time. The invincible Bruce McNall is virtually broke, and the only remaining question is whether he will end up in jail. purchased Wayne Gretzky from the Edmonton Oilers for $15â€"million and, as a result, put hockey on the map _ in the competitive and lucrative Los Angeles market. contributed to the popularity of hockey.. in the ave you southern United States leading to new franchises in Florida and Califiorania. Unfortunately, McNall spent far more than he could afford, and when it came time to pay his debts, the well was dry. These failures carry two main lessons for investors. The first issue: is â€" that nothing lasts forever, and thus, everything has its risks. Make sure that you diversify your inves t ments because you need to safeguard against normal investment risk. Not many investors would disagree, however, we often read of sad stories where someone (McNall, Confederation Life) invested all of their assets in a sure thing (Wayne Your Waterfront View Is Worth A Million . . . A Limited Number Of Larger Suites Available On Request mited Numher OWÂ¥ T aroor Availakle Om Renms Your Waterfront Suite, Substantially Less. *+With a full selection of lake view suites including magnificent Penthouses. * 5 appliances included. * Individually metered utilities. * Secure underground parking * Plus, incredibly low condominium fees Gretzky, real estate) only to lose it all. Also, there is some good that comes out of a Don‘t let the high cost of waterfront property turn you off your lakeside lifestyle. Discover the affordable luxury of Southshore Villas â€" the lowrise villas condominium community in Stoney Creek. Nestled against the shores of Lake Ontario, you won‘t find a betterâ€"priced, more valueâ€"packed, waterfront lifestyle! 3204 Lower Base Line Country living with close proximity to Oakville. Beautiful 3 BR bungalow â€" 1 owner home â€" HUGE lot 150x260 ft. 2 storey workshop â€" ideal for hobbyist. Come see for yourself. Asking Freeta Mackenzieâ€"Sales Rep. home â€" 827â€"7465 Mel Whiteâ€"Sales Rep. home â€" 829â€"1344 Priced From Expect the best* $224,900.00 business failure. A business failure allows room for other individuals and companies to expand and grow. 2274 Lakeshore Rd.W. Oakville 847â€"3030 Companies and investors â€" alike must learn from others‘ failures by spending within their capabilities. environment that is always changing. â€" That change can be devastating _ or positive depending Our world is a perspective. Nonetheless, changeâ€" is â€" a business reality and you must be Just listed on quiet crescent in Glen Abbey this 4 bedroom 3 bathroom home in beautiful condiâ€" tion, includes, centre isle green house kitchen with walkout to large deck, main floor laundry family room with fireplace, open staircase to basement with billiard room. Asking price for this professionâ€" ally landscaped property is $279,900.00. Please call FRED SCHAFER at 842â€"1630 or res. 842â€"1635. Dawn Hammell, Dave Brown Sr. Represented By RE/MAX Delmar Realty Inc. Realtor SALES OFFICE HOURS: MON â€"THUR. 28, SAT â€" SUN 125 CLOSED FRDAY PRICES AND SPECIFICA THONS SUBJECT To CHANGE WTTHO UT NO TICE E.4 0 .. your OWNER TRANSFERRED TAKE SOUTH SERVICE RD.FROM HWY.20 OR FRUITLAND RD. TO MILLEN RD. OVERPASS NORTH TO THE LAKE (NORTH SERVICE RD. UNDER CONSTRUCTION) aware of it when planning _ your career and investments. Peter Watson, MBA, CFP, RFP is the president of Peter Watson Investments Limited â€" an Oakville firm specializing in retirement planning, RRSPs, and investment planning. He can be reached at 842â€"7602.