Blog: Cutting Through the Noise
Globe and Mail Articles
Getting out of the Market Almost Certainly a Losing Long-term Proposition
Excerpt from Tom Bradley's blog on May 13, 2013
"Should I get out of the market?" I'm finding this question is coming up again, prompted either by the Dow hitting all-time highs or the central bankers' perilous high wire act (performed without a net). It depends on the week. But, while we know all...Read More
Mystified Over Fund Fees? Big Changes are Coming, and the Sooner the Better
Excerpt from Tom Bradley's blog on January 19, 2013
A young client phoned this week to ask if she was invested in mutual funds. She’d heard they were high cost and not the place to be. While the call was a little disconcerting given that we only use our own funds to build client portfolios, it was not surprising. Her...Read More
Don't Dread Your Year-end Statement. You'll Probably be Pleasantly Surprised
Excerpt from Tom Bradley's blog on January 5, 2013
I’m constantly hearing that it’s been a tough few years for money managers. It’s true that the macro-economic situation has brought uncertainty and volatility, and there’s been no such thing as “safe” income. But in one respect, the past couple of years...Read More
From Crude to Carney: A Year for Trends Reversing Course
Excerpt from Tom Bradley's blog on December 23, 2012
We’re in the midst of the holiday season, but there’s something about reflecting on the financial markets in 2012 that makes me want to say “bah humbug.” To me, the year was lots of talk – Spain, Facebook, BCE, fiscal cliff, Nexen/CNOOC, Mark Carney...Read More
How the Under-invested Can Get Back in the Market
Excerpt from Tom Bradley's blog on December 8, 2012
My editors want me to at least occasionally write about something topical. At first glance, a column about getting back into the market doesn't appear to fit the bill, but it does. That’s because now is the time to do the groundwork for what is often the most difficult...Read More
Amid the Desk Scraps, a Surprising Wealth of Perspective
Excerpt from Tom Bradley's blog on November 24, 2012
Until a couple of days ago, there was a leaning tower of paper hovering over my desk. It was a stack of articles, charts, cartoons, quotes and sport stats that I was sure would be important one day, but in the meantime, was threatening my safety. It had...Read More
Finding a Portfolio Manager That Runs Against the Herd
Excerpt from Tom Bradley's blog on November 10, 2012
In my last column, I suggested that the stock picker’s lot in life is not as bad as it’s made out to be. I argued that many of the portfolio managers competing in this zero sum game (for every winner, there’s a loser) are destined to underperform for structural reasons...Read More
Don't Believe the Skeptics: Stock Picking is Alive and Well
Excerpt from Tom Bradley's blog on October 27, 2012
"Be it resolved that security selection is dead. Macro forces drive portfolio returns.” This was the resolution for the Alternative Investment Management Association’s (AIMA) annual debate. It reflects what I’m increasingly hearing – it’s a tough environment for active...Read More
Be Skeptical of These Current 'Sure Things'
Excerpt from Tom Bradley's blog on October 13, 2012
"It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.” – Mark Twain. As investors, we need to be wary of what we’re absolutely, positively sure about. We may be flat out wrong. Economies, markets and...Read More
A New Mantra for Money Managers: Think Small
Excerpt from Tom Bradley's blog on September 29, 2012
Last week in Toronto, I had back-to-back meetings that provided an intriguing juxtaposition. I first met with Joe Sirdevan, the former head of research at Jarislowsky Fraser, who is starting a new firm, Galibier Capital, and then spent some time...Read More
Investors Finally Get the Ultimate Asset: Transparency
Excerpt from Tom Bradley's blog on September 16, 2012
Big changes are in the regulatory winds and they’re going to be good for Canadians. The new rules that are coming down relating to cost disclosure, performance reporting and client statements are likely to have more impact on individual investors...Read More
Younger Retirees Need Some Risk in their Portfolios
Excerpt from Tom Bradley's blog on September 1, 2012
Just as the baby boomers brought us free love and rock ’n’ roll, they’re also leading the way into pension-less retirement. Those who are near or just into retirement are in a tough spot. They have a long time time horizon and need investment returns that are...Read More
