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 »

Is Gold a Store of Value?

The U.S. dollar used to be backed by gold. Anyone could exchange their paper currency for a certain amount of gold (e.g. $35 per ounce). That changed on August 15, 1971 when President Nixon ended convertibility by “closing the gold window”.

Since 1971, the U.S. dollar has not been backed by gold and it has fallen to less than 17 cents in 1971 dollar terms. One dollar today will buy only 17 cents worth of “stuff” versus one dollar worth of “stuff” Read More »