Cutting Through the Noise
June 2, 2010
Preet Banerjee is an industry insider who runs a blog titled Where Does All My Money Go? (his blog was ranked Canada’s #1 investing blog by the Globe and Mail last month). Preet recently developed a resource for investors called the Know Your...
Read MoreJune 1, 2010
I was having dinner with my dad the other night and we got on the topic of credit cards. We both have cards that reward us with air miles (in one form or another) for all our purchases. And importantly, we both pay our cards off each month. Somewhat proudly...
Read MoreMay 31, 2010
It was announced last week that BMO is adding 8 new ETFs to its lineup. It now offers 30 ETFs, up from zero a year ago. With every new offering, BMO is getting narrower in its focus. The current batch gives the investor specific exposure to junior oil stocks, junior...
Read MoreMay 29, 2010
I’m just back from a few days in Scotland. Sightseeing, golf and a meeting with one of our equity managers was the order of the day. For the golf, I stuck to convention and kept track of my pars, bogies and, unfortunately, the “others.” For my meeting with...
Read MoreMay 27, 2010
Tom met with Edinburgh Partners Limited (EPL) on their home turf last week for an annual update on their firm and global equity portfolio. It was also an opportune time to discuss some of the issues currently impacting Europe and get the CEO’s (Sandy Nairn) thoughts on the debt crisis that is overhanging Greece...
Read MoreMay 27, 2010
Last week I met with Edinburgh Partners Ltd (EPL), the manager of our Global Equity Fund, on their home turf. Here are the highlights. EPL has been in existence for almost 7 years and has been very successful. They manage C$11.4 billion for corporate...
Read MoreMay 25, 2010
I recently attended a luncheon hosted by Connor, Clark & Lunn, the manager of our Savings Fund and Income Fund. The session focused on the economy. Larry Lunn, the firm’s chairman and co-founder, was the keynote speaker. Larry is an experienced...
Read MoreMay 17, 2010
The Task Force on Financial Literacy is a federal government initiative aimed at strengthening the financial literacy of Canadians. The Task Force, which is comprised of 13 members, was appointed in June 2009 (as part of the federal budget), and will...
Read MoreMay 16, 2010
As we ride the market volatility caused by Europe’s economic turmoil, I can’t help but think back to Oct. 19, 1987, a date that will forever be imprinted in my memory. Black Monday saw the Dow drop 23 per cent, while the TSX was down 11 per cent...
Read MoreMay 12, 2010
First it was swine flu. Now it’s fragile economies. Seems like pigs can’t catch a break these days. The southern European nations of Portugal, Italy, Greece and Spain (PIGS) are garnering plenty of attention in the media, as investors fear these countries may...
Read MoreMay 5, 2010
In the media and this blog, it’s been pretty quiet when it comes to principal protected notes (PPNs). Regular readers will know that we have been critical of these bank-issued products and have written about them often. I don’t have a sense of how...
Read MoreMay 2, 2010
Burgundy Asset Management sent a letter to its clients this week announcing changes to its management structure. Two years from now CEO Tony Arrell will step down and hand the reins over to the current Chief Investment Officer, Richard Rooney...
Read MoreApril 29, 2010
There’s an old saying that mutual funds are sold, not bought. Canada’s mutual fund industry is a perfect example. The majority of financial advisors are paid commissions by fund companies for selling their funds and keeping clients invested in them. Up...
Read MoreApril 28, 2010
April 27, 2010
Michael Lewis has a talent for writing about financial issues in a provocative and colorful manner. Having worked as a bond salesman for Salomon Brothers in the 1980s, he leans on his experiences and lessons learned on Wall Street to bring his readers...
Read MoreApril 22, 2010
George Morgan joined Mackenzie Financial in January 2009 as a Senior Vice-President and Portfolio Manager for the Mackenzie Cundill American Class Fund. Mackenzie issued a public announcement at the time. Here are a few excerpts: "George is an...
Read MoreApril 21, 2010
I am not an economist and have never been to China. But I am an investor and a student of market cycles, and as such, I’m always wary when something that is far from certain starts being assumed as part of the foundation of the capital markets. Today China is...
Read MoreApril 17, 2010
Four years ago my business partner Neil Jensen and I were sitting on Kits Beach contemplating a new mutual fund company. As we looked out at the competitive horizon, we could see a wave coming at us. It was called ETFs (exchange-traded funds), and...
Read MoreApril 12, 2010
In this podcast, Tom and I highlight some of the key messages from our Quarterly Report. We also discuss our three-year performance (Steadyhand marked its third anniversary in the quarter) and provide an overview on the advice we are currently providing to clients. You can subscribe to our podcasts via iTunes...
Read MoreApril 6, 2010
Wil Wutherich, the manager of our Small-Cap Fund, was in town last week on a research trip. We snagged a morning of his time to review the fund and get some further insights on some of the stocks in the portfolio. Listen now, or subscribe to our podcasts via...
Read MoreApril 4, 2010
"Tom, is now a good time to invest?" When I get that question at a party or reception, I freeze up. It's weird because I'm reasonably competent at social banter, especially when I have a cocktail in my hand, and I certainly have views on these kind of things. But I...
Read MoreMarch 29, 2010
Toward the end of every quarter, we get on the phone with each of our fund managers and review their portfolios (our funds). This is a formal process that we go through with CC&L (the manager of our Savings Fund and Income Fund), CGOV (Equity Fund), Edinburgh Partners (Global Equity Fund) and Wutherich & Company (Small...
Read MoreMarch 26, 2010
Dear Madam / Sir, Re: Application for a trader position. I read with interest that Google is looking to hire traders to manage its $24 billion cash reserve. I would like to apply. I have attached my resume for your consideration and would like to emphasize a...
Read MoreMarch 22, 2010
Kevin O’Leary is an intentionally controversial figure. I quite enjoy his TV persona...in small doses. He stirs the pot and is a great offset to my favorite TV host, Amanda Lang. I’m not sure what Mr. O’Leary’s day job is exactly, but part of it entails marketing closed...
Read MoreMarch 21, 2010
There are more than a few money managers who, as large shareholders of the Canadian banks, harbour a secret desire to have a seat at the boardroom table. They've studied these institutions for years and feel they have something to offer. But in reality...
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