Why You Should Avoid Equity-Linked GICs

Years ago, a clever banker must have come to a realization: many investors want equity-like returns but are not comfortable putting their capital at risk. In other words, they want the reward of the stock  market but the presumed stability of a safe fixed income product. And so, the equity-linked guaranteed investment certificate was born. Sometimes called market-linked GICs, these products would appear, as one commentator put it, to allow investors to have their cake and eat it,...