HomeMy WebLinkAboutLakeshore Advance, 2011-11-09, Page 11Wednesday, November 9, 2011 • Lakeshore Advance 11
For Dragons' Den star Kenn O'Leary, it's all about winning
Cathy Dobson
The Observer
Kevin O'Leary, CBC's own financial dragon, literally flew
into Sarnia Wednesday and spent 45 minutes extolling his
special brand of capitalistic wisdom to the local business
community.
A wildly successful businessman and star of Dragons'
Den and Shark Tank, O'Leary, 57, likes stocks that pay
dividends, diversified portfolios, the freedom that comes
with money, and Amanda Lang, his sparring mate on CBC's
Lang and O'Leary Exchange.
di&
We're very, very lucky to
be in this country and not
several kilometres south of
here where it's a much
tougher environment."
— Kevin O'Leary
He doesn't like anti -greed Occupy Canada protesters,
government red tape, or corporations that make charitable
donations.
"As far as I'm concerned, we need a lot more Kevin
O'Leary's in this country, starting more businesses, creating
more jobs for Canadians and more wealth, and setting more
people free," he told a sold -out crowd of 320 at the Dante
Club.
O'Leary makes no apologies for his reputation as "the
Voldemort of Capitalism" and expressed his recent frustra-
tion with a bank CEO who talked about charitable good
works for an hour.
"I put up my hand and said, 'Excuse me, you haven't
mentioned once your shareholders ... you don't get it ...
what's in this for me?'"
It's not the responsibility of companies to take care of
societies, O'Leary said. "It's their responsibility to take care
of shareholders ... that's all that matters."
As Canadians anxiously watch the European markets this
week and wonder how Greece's economic turmoil will
impact the rest of the world, O'Leary had some comforting
predictions.
Cathy Dobson QM! Agency
Dragon's Den star Kevin O'Leary was in Samia Wednesday
promoting his book, Cold Hard Truth. O'Leary, pictured with
his son Trevor, was keynote speaker at the Dante Club during
Sarnia-Lambton Business Week.
It's true Canadian investors are currently reluctant to take
risk and that the world's largest concentration of million-
aires are now in China, he said.
Yet Canada is going to weather the storm.
"Greeks are going to live like they are in an occupied
country for the next 20 years," said O'Leary.
But Canada has commodities that other countries need,
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like copper, uranium, paper, wood, water, gas and oil, and
will survive financially through that same period.
"We're very, very lucky to be in this country and not
several kilometres south of here where it's a much tougher
environment," he said.
Markets will be tremendously volatile through 2012 with
swings of 2% and 3% daily, O'Leary predicted.
"My advice to you as an investor is to find companies that
pay dividends and don't look at the stock price because, if
they can successfully generate cash, 1 don't care what the
price of the stock is. It's going to go up and down, up and
down."
He said investors should never put more than 5% of their
portfolio in any one stock and never more than 20% of their
net worth, excluding their home, into one sector.
"'That will force diversification for you and you will never
be wiped out."
O'Leary introduced his l5 -year-old son, Trevor, to the
audience and explained that it was take -your -kid -to work
day for Trevor's (rade 9 class.
He picked a good day to tag along, O'Leary said. After a
speech and book signing in Sarnia, he was leaving immedi-
ately for London to make a presentation on global invest-
ment, then shoot some television.
O'Leary was keynote speaker at a Business Week lunch-
eon hosted by the Sarnia-Lambton Business Development
Smoke•Free Outdoor Spaces
Public consultation sessions to measure public
support for smoke-free municipally owned or
operated outdoor spaces.
The County of Lambton Community Health Services
Department will provide the following sessions:
bissday, $$x.15, 2011
Victoria Playhouse Petrolia
411 Greenfield Street
Petrolia, ON
Start time: 6:30 p.m.
Thursday, Nov. 17, 2011
Watford Centennial Hall
101 Centennial Avenue
Watford, ON
Start time: 6:30 p.m.
Manley, Nev. 21,2011
North Lambton Community
Health Centre
59 King Street West
Forest, ON
Start time: 6:30 p.m.
Pos dared 11I WON
kyr Nev. 22,2011
Moore Sports Complex
1166 Emily Street
Mooretown, ON
Start time: 6:30 p.m.
Wednesday, Nov, 23, 2011
Sarnia Arena
134 Brock Street South
Samia, ON
Start time (1): 1:30 p.m.
Start time (2): 6:30 p.m.
Thursday, Nev. 24, 2011
Grand Bend Community
Health Centre
69 Main Street East
Grand Bend, ON
Start time: 6:30 p.m.
COMMUNITY HEALTH SERVICES DEPARTMENT
Hulk homolla+ i Program Swat
150 N. Christina St* 2nd fbor
San* ON N7TEK3
ToNplia i 519 3442061 ext 2206.1100-361.26a2 ext 2206
wothintbi ono