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Stock pickers’ markets a myth for retail investors
Whenever the notion of a volatile sideways market bubbles up among portfolio managers, they claim indexing will fail in comparison to active stock selection. In other words, portfolio managers argue that trendless volatility is ripe for active...
This fund is unlikely to sustain its newly-lowered monthly payout
I have been writing articles in the public domain for more than 13 years. No series of articles has generated more interest or feedback than my many critiques and analyses of monthly income fund and assessing distribution sustainability. Below...
BMO reins in fund distributions
I have been writing about monthly income investment funds for nearly a dozen years, putting their distributions to the test and highlighting such funds’ mythical tax advantages. Over the past two years, I’ve been particularly...
The upside of manager turnover
When key people leave a money management firm, it is often cause for concern – particularly when key personnel leave in packs. While one of my older blog posts laid out a framework for dealing with changes in lead managers, it’s also...
Want to scratch your market timing itch? Try some disciplined rebalancing
Many investors feel better about their investments when their advisor is fine-tuning their portfolios. The persistence of global macroeconomic challenges has strengthened this long-standing desire among many clients. While so few are skilled...
"The End of Fear"
The headline on the front page of the Globe and Mail today reads “Get Back in the Market…Now!” The lead article in the Report on Business is entitled “The End of Fear”. Wow! Isn’t it so often the way? The Dow closed yesterday through...
Biggest controversy with financial advisor commissions has nothing to do with advisors
Type the phrase “financial advisor commissions” into Google and the results will be less than flattering to the financial advice industry. Understandably, regulators and the media are focused on full service brokers or financial...
Low bond yields make for tough decisions
I have been involved in several client proposals and meetings over the past several weeks. A common thread continues to emerge in most cases. Since bonds are needed to limit total portfolio risk, they also limit potential total returns. And...
Income trust fans have no reason to cry
For many income-oriented investors October 31, 2006 will forever be etched in their brains. That was the day that our Federal Finance Minister lowered the tax boom and ended the tax arbitrage of income trusts. The market reacted by slicing about...
50 may be the new 40 but ETFs are the new Mutual Funds
For years I’ve been hearing from individual investors and financial advisors who are disappointed with their meagre long-term performance. This jibes with calculations I completed four years ago, which showed that Canadian mutual fund...
