Comparing the fate of mining and tech companies to that of a Big 6 Canadian bank is either a deliberate attempt to compare apples and oranges  or a demonstration of ignorance of the facts.

Obviously no investment is bullet proof - as you point out Nortel is a great example.  However, for every Nortel that impaired the portfolio of a buy and hold dividend investor there are literally dozens of other stocks that have cost the short term trader.

I guess who do you believe, the long term owner who acknowledges that they have ridden out some tough times but ultimately come out even further ahead? Or the short-term trader who likes to imply that they never get caught holding the bag realizing big losses - always conveniently selling before the bad stuff happens 

But hey that's what it takes to earn a 20% return when you only invest 30% of your money.