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The 1st Bitcoin ETF Launches: Should You Buy Today? – The Motley Fool Canada

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The cryptocurrency bull market has gained significant steam in 2021. Bitcoin, the largest crypto by market cap, recently surged above the US$50,000 mark. Some analysts have warned that this rally has moved into dangerous territory. Concerns over a bubble are not unwarranted, but it is hard not to be tempted by this red-hot market right now. Canadian investors now have another way to stash the top crypto in their portfolios. The first Bitcoin ETF launched this month.

Today, I want to discuss why Bitcoin has soared to record heights in late 2020 and early 2021. Moreover, we’ll explore whether it makes sense for Foolish readers to stash the recently launched bitcoin ETF.

Why Bitcoin has soared in 2021

The price of Bitcoin rose above US$54,000 in trading today. In 2017, BTC and the cryptocurrency space were thrust into the mainstream. This first bull market came crashing down in the first month of 2018. One of the biggest reasons for the loss of faith in crypto was an attack by international regulators. This continued through to 2019.

That has changed in 2020. BTC and its peers are now benefiting from the opposite effect. Regulators and institutional investors have given crypto their blessing. Crypto trading is now offered through huge processors like PayPal and through firms like WealthSimple. Meanwhile, big players in the corporate space are also giving Bitcoin a boost.

The most recent surge started when Elon Musk revealed that Tesla had poured US$1.5 billion into bitcoin. Musk has become the richest man on the planet on the back of Tesla’s stock surge. His bet on Bitcoin has bolstered his wealth in a short time.

Should Canadians look to stash this ETF in late February?

Before February, Canadian investors have been able to hold Bitcoin through The Bitcoin Fund (TSX:QBTC.U). This week, the first Bitcoin ETF launched and has attracted significant attention. Purpose Bitcoin ETF (TSX:BTCC.B) aims to directly track the performance of the top digital asset. It achieved record volume on its first day of trading on February 18. Investors bought and sold more than $260 million of shares on that day.

A correction for BTC seems inevitable. Its meteoric rise in late 2020 and early 2021 has deservedly set off alarm bells. At the same time, Bitcoin and its peers are benefiting from increased adoption in the broader financial space. This may continue to fuel its rise in the weeks and months ahead. Foolish readers who are eager to own the top digital currency may want to jump in on this red-hot ETF after its debut. However, they should beware that Bitcoin and other crypto assets have demonstrated extreme volatility in recent years.

Earlier this week, I’d suggested that Canadians should look to top TSX stocks like Shopify or goeasy instead of betting on Bitcoin. It is impossible to predict Bitcoin’s trajectory in this incredible bull market. Investors who want to get in on crypto should practice dollar-cost averaging to minimize risk going forward.

Happy hunting, Fools!

On the topic of crypto assets to target right now…

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Fool contributor Ambrose O’Callaghan has no position in any of the stocks mentioned. David Gardner owns shares of Tesla. Tom Gardner owns shares of Shopify and Tesla. The Motley Fool owns shares of and recommends PayPal Holdings, Shopify, Shopify, and Tesla and recommends the following options: long January 2022 $75 calls on PayPal Holdings.

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Stop Asking Your Interviewer Cliché Questions

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Most job search advice is cookie-cutter. The advice you’re following is almost certainly the same advice other job seekers follow, making you just another candidate following the same script.

In today’s hyper-competitive job market, standing out is critical, a challenge most job seekers struggle with. Instead of relying on generic questions recommended by self-proclaimed career coaches, which often lead to a forgettable interview, ask unique, thought-provoking questions that’ll spark engaging conversations and leave a lasting impression.

English philosopher Francis Bacon once said, “A prudent question is one half of wisdom.”

The questions you ask convey the following:

  • Your level of interest in the company and the role.
  • Contributing to your employer’s success is essential.
  • You desire a cultural fit.

Here are the top four questions experts recommend candidates ask; hence, they’ve become cliché questions you should avoid asking:

  • “What are the key responsibilities of this position?”

Most likely, the job description answers this question. Therefore, asking this question indicates you didn’t read the job description. If you require clarification, ask, “How many outbound calls will I be required to make daily?” “What will be my monthly revenue target?”

  • “What does a typical day look like?”

Although it’s important to understand day-to-day expectations, this question tends to elicit vague responses and rarely leads to a deeper conversation. Don’t focus on what your day will look like; instead, focus on being clear on the results you need to deliver. Nobody I know has ever been fired for not following a “typical day.” However, I know several people who were fired for failing to meet expectations. Before accepting a job offer, ensure you’re capable of meeting the employer’s expectations.

  • “How would you describe the company culture?”

Asking this question screams, “I read somewhere to ask this question.” There are much better ways to research a company’s culture, such as speaking to current and former employees, reading online reviews and news articles. Furthermore, since your interviewer works for the company, they’re presumably comfortable with the culture. Do you expect your interviewer to give you the brutal truth? “Be careful of Craig; get on his bad side, and he’ll make your life miserable.” “Bob is close to retirement. I give him lots of slack, which the rest of the team needs to pick up.”

Truism: No matter how much due diligence you do, only when you start working for the employer will you experience and, therefore, know their culture firsthand.

  • “What opportunities are there for professional development?”

When asked this question, I immediately think the candidate cares more about gaining than contributing, a showstopper. Managing your career is your responsibility, not your employer’s.

Cliché questions don’t impress hiring managers, nor will they differentiate you from your competition. To transform your interaction with your interviewer from a Q&A session into a dynamic discussion, ask unique, insightful questions.

Here are my four go-to questions—I have many moreto accomplish this:

  • “Describe your management style. How will you manage me?”

This question gives your interviewer the opportunity to talk about themselves, which we all love doing. As well, being in sync with my boss is extremely important to me. The management style of who’ll be my boss is a determining factor in whether or not I’ll accept the job.

  • “What is the one thing I should never do that’ll piss you off and possibly damage our working relationship beyond repair?”

This question also allows me to determine whether I and my to-be boss would be in sync. Sometimes I ask, “What are your pet peeves?”

  • “When I join the team, what would be the most important contribution you’d want to see from me in the first six months?”

Setting myself up for failure is the last thing I want. As I mentioned, focus on the results you need to produce and timelines. How realistic are the expectations? It’s never about the question; it’s about what you want to know. It’s important to know whether you’ll be able to meet or even exceed your new boss’s expectations.

  • “If I wanted to sell you on an idea or suggestion, what do you need to know?”

Years ago, a candidate asked me this question. I was impressed he wasn’t looking just to put in time; he was looking for how he could be a contributing employee. Every time I ask this question, it leads to an in-depth discussion.

Other questions I’ve asked:

 

  • “What keeps you up at night?”
  • “If you were to leave this company, who would follow?”
  • “How do you handle an employee making a mistake?”
  • “If you were to give a Ted Talk, what topic would you talk about?”
  • “What are three highly valued skills at [company] that I should master to advance?”
  • “What are the informal expectations of the role?”
  • “What is one misconception people have about you [or the company]?”

 

Your questions reveal a great deal about your motivations, drive to make a meaningful impact on the business, and a chance to morph the questioning into a conversation. Cliché questions don’t lead to meaningful discussions, whereas unique, thought-provoking questions do and, in turn, make you memorable.

_____________________________________________________________________

 

Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers “unsweetened” job search advice. You can send Nick your questions to artoffindingwork@gmail.com.

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Canadian Natural Resources reports $2.27-billion third-quarter profit

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CALGARY – Canadian Natural Resources Ltd. reported a third-quarter profit of $2.27 billion, down from $2.34 billion in the same quarter last year.

The company says the profit amounted to $1.06 per diluted share for the quarter that ended Sept. 30 compared with $1.06 per diluted share a year earlier.

Product sales totalled $10.40 billion, down from $11.76 billion in the same quarter last year.

Daily production for the quarter averaged 1,363,086 barrels of oil equivalent per day, down from 1,393,614 a year ago.

On an adjusted basis, Canadian Natural says it earned 97 cents per diluted share for the quarter, down from an adjusted profit of $1.30 per diluted share in the same quarter last year.

The average analyst estimate had been for a profit of 90 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Oct. 31, 2024.

Companies in this story: (TSX:CNQ)

The Canadian Press. All rights reserved.

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Cenovus Energy reports $820M Q3 profit, down from $1.86B a year ago

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CALGARY – Cenovus Energy Inc. reported its third-quarter profit fell compared with a year as its revenue edged lower.

The company says it earned $820 million or 42 cents per diluted share for the quarter ended Sept. 30, down from $1.86 billion or 97 cents per diluted share a year earlier.

Revenue for the quarter totalled $14.25 billion, down from $14.58 billion in the same quarter last year.

Total upstream production in the quarter amounted to 771,300 barrels of oil equivalent per day, down from 797,000 a year earlier.

Total downstream throughput was 642,900 barrels per day compared with 664,300 in the same quarter last year.

On an adjusted basis, Cenovus says its funds flow amounted to $1.05 per diluted share in its latest quarter, down from adjusted funds flow of $1.81 per diluted share a year earlier.

This report by The Canadian Press was first published Oct. 31, 2024.

Companies in this story: (TSX:CVE)

The Canadian Press. All rights reserved.

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