Periods of Uncertainty Don’t Have to be Stressful

As I reflect back on the year just passed, with its turbulence, uncertainty and angst — and look ahead to 2017 and what it might bring — I can’t help but think of one of my favourite quotes, from John Kenneth Galbraith: “We have two classes of forecasters: Those who don’t know and those who don’t know they don’t know.”

2016 was one of those years that left a lot of us scratching our heads. It was a year that didn’t make sense. It started off rocky and investors were pessimistic and fearful. Yet Read More »

Concentration is Key

In the investing world, the topic of diversification often arises. As money managers, we advise clients on their stocks, bonds, mutual funds, hedge funds and real estate funds, among others. The intellectual stimulation of this job is hard to beat. We do believe portfolios should be diversified across asset classes. But, when it comes to owning simple common stocks, concentration is the way to go.

My friend David Kaufman recently published an excellent article in the Financial Post on the merits of owning a concentrated portfolio of stocks. David writes for all readers, regardless of their familiarity with high-tone investment language, and his column is worth reading. You can find it here.

David makes a simple point. With the proliferation of exchange traded funds and, I will add, the number of smart people that have flooded into the investment business, it becomes difficult to outperform the stock market.
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Performance, performance, performance …

Recently I read an interesting article in the Globe & Mail by Rob Carrick. It was about robo-advisors and how to pick the right one. In it he said several things I’ve been telling my clients for years, long before there was such a thing as algorithm-based portfolio management.

Right off the top he wrote: “Robo-advisors are for people who want a sound, smart investing solution, not home runs.” Quite frankly, that should be every investor’s goal, because counting on “home runs” Read More »

It Can Pay to Get Out of Your Comfort Zone

Managing emotions is an important part of investing. An experienced Investment Advisor can help with that. We work with clients to prepare a financial plan and help them stick with it over the long term, regardless of market fluctuations.

In recent years, a whole new field of study has evolved called “Behavioural Investing”. It explains why people react the way they do and points out Read More »

Looking Back and also Ahead …

One of the benefits of working in finance is the opportunity to meet so many respected and successful individuals.  I attended numerous presentations this past year, several of which took place in the last few months.

What really struck me was the commonality: In most cases, each speaker seemed to begin with a brief look at the world, sharing individual global views and opinions, which were
remarkably similar in terms of the opportunities and challenges ahead.  Generally the Read More »