Cutting Through the Noise
September 12, 2007
Richard Croft wrote a good article in yesterday’s National Post about how longevity is the most important factor in determining investment success. “In the end, one strategy or style is probably as good as another...the problem for average investors is ...
Read MoreSeptember 10, 2007
After only two months on the market, Apple has dropped the price of its new iPhone from $599 to $399. Steve Jobs, the company’s CEO, posted a note on Apple’s website explaining the reasoning behind the 33% price slash. Essentially, ...
Read MoreSeptember 7, 2007
If you search for the definition of the word oracle, a lot of interesting definitions come up. Here are a few I handpicked: 1. a) prophet: an authoritative person who divines the future. b) a prophecy (usually obscure or allegorical) ...
Read MoreSeptember 6, 2007
Tom's been busy reading during his recovery from surgery (we've taken away his laptop, but we can't take away his library). He recently dusted off Roger Lowenstein's book, Buffett: The Making of an American Capitalist , and added it to ...
Read MoreSeptember 4, 2007
The Globe and Mail, Report on Business Published September 1, 2007 Are we experiencing another immaculate correction? That’s how I describe the market corrections we’ve experienced while living under the protective umbrella of U.S. President George W. Bush and former ...
Read MoreAugust 30, 2007
As a start-up, we have the luxury of starting with a fresh piece of paper and blazing our own path. We’re not confined by legacy issues, dated technology platforms, archaic policies and procedures, etc. We’ve set up a business that ...
Read MoreAugust 27, 2007
The following blog was written by Tom just before his surgery, from which he is recovering well. Dan Richards is a name you may be familiar with. He has been in the wealth management industry for years and currently operates ...
Read MoreAugust 27, 2007
Every time I venture down to California or Vegas (not as often as I’d like), a stop at In-N-Out Burger is a must. Health food it’s not, but if you’re looking for a fresh, good old fashioned burger, this is ...
Read MoreAugust 22, 2007
In the wake of the subprime fallout in the United States, shares of Countywide Financial have fallen considerably. Countrywide is America’s #1 home loan lender and the country’s third largest federal savings bank. The Steadyhand Global Equity Fund holds shares ...
Read MoreAugust 21, 2007
Third party asset backed commercial paper (ABCP) has been the subject of attention in the investment press recently, as some issuers have experienced problems finding funding for their maturing debt. The Steadyhand Savings Fund does not hold any of this ...
Read MoreAugust 20, 2007
The Globe and Mail, Report on Business Published August 18, 2007 Shouldn't I be doing something? In historical terms, volatile markets like we're experiencing now are not unusual, so I don't want to overplay it. I'll admit, however, that I ...
Read MoreAugust 15, 2007
As you may have heard, Tom has a long-standing liver condition known as PSC. It goes back to his youth and has been monitored for over 25 years. While not normal, it has always been stable and hasn’t held him ...
Read MoreAugust 13, 2007
I’m picking on Claymore Investments again. I don’t have a thing about them, but they’re hard to ignore because they advertise a lot and are releasing a steady stream of new products. They are also an interesting firm in that ...
Read MoreAugust 9, 2007
Here's a real beauty that made the rounds at Steadyhand: The Shareholder Letter You Should, But Won't, Be Reading Next Spring . If you want to see the circus, there's no need to go to the big tent...there's plenty of ...
Read MoreAugust 8, 2007
I wrote a piece in March about the TD Bank double ending an investment banking transaction ( TD Securities Does a Double Ender ). The theme of the posting was how free the investment banks are to operate with huge ...
Read MoreAugust 7, 2007
The Globe and Mail, Report on Business Published August 4, 2007 At some point in the next year or two, it is going to get much harder to be an investment professional. A significant market decline and/or bursting of the ...
Read MoreJuly 31, 2007
I’ve admitted before that I am a Jeremy Grantham junky. He’s not ahead of Steve Nash or Lucinda Williams, but he’s in the running. He’s often accused of being perpetually bearish, as am I, but both of us are able ...
Read MoreJuly 25, 2007
In this podcast, Dr. Sandy Nairn, the chief executive of Edinburgh Partners, discusses his firm's history, investment philosophy, approach to global equity investing, and why "this time it's different" are the four most expensive words in the investing language.
Read MoreJuly 24, 2007
Shares of the world’s largest specialty retailer were recently added to the Steadyhand Equity Fund. Why? Because Starbucks is now a “franchise” company – that is to say, a great business , run by great people , trading at a ...
Read MoreJuly 23, 2007
The Globe and Mail, Report on Business Published July 21, 2007 My first gig in the investment industry in the early eighties was as a conglomerate analyst at Richardson Greenshields. It was while doing that job I first became sensitive ...
Read MoreJuly 19, 2007
Chris, Scott and I have had ample opportunity to see what’s going on out there in investor land as we’ve each had a chance to work with a number of our new clients. We have done enough portfolio reviews and ...
Read MoreJuly 16, 2007
Posted by Scott Ronalds I must admit that before I started working at Steadyhand last year, the term blog was pretty much a foreign concept to me. ‘Blogging’ sounded more like a slang term or a new extreme sport from ...
Read MoreJuly 12, 2007
We're proud of our first version of client statements, in particular the portfolio summary page at the beginning of every statement. The first attached image is for a fictitious client, Jim Smith, who has three accounts: an Investment account, RSP ...
Read MoreJuly 12, 2007
[update: As of November 2009, our performance calculation methodology changed. Individual account performance is still calculated using the time weighted rate of return (daily valuation); however, it is now calculated in our wealth management platform, rather than the recordkeeping system. ...
Read MoreJuly 9, 2007
The Globe and Mail, Report on Business Published July 7, 2007 Avner Mandelman's column in this space last Saturday featured the investment philosophy of Warren Buffett. If you've been reading this column or my blog, it's obvious that I also ...
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