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Five years on – the lesson from market extremes
Five years ago today, the investing world was frozen with fear. Stocks markets had collapsed; Lehman Brothers had slid into bankruptcy several weeks earlier; and discussions were accelerating regarding letting GM and Chrysler do the same. Fear...
Performance reporting is advice industry’s biggest challenge
The financial advisory industry has long been challenged to report accurate, personalized performance to its clients. Investment management clients have always wanted good reporting but most retail clients didn’t require it because returns...
Learning About Drawdown
Drawdown, in a nutshell, gives the history of how much a particular investment has dropped in value before it recovered. If you know the drawdown of an investment (or your portfolio as a whole), you know what to expect in terms of potential...
The Fee’s Not The Fee: What’s The Real Cost Of Investment Management?
A. OVERVIEW: Today’s investment management offerings are comprised of a variety of Service Components that comprise the total offering. As a result, it can be rather challenging for investors to compare the investment management offerings...
Predictions, Stocks Markets & the Weather Rock
I had the pleasure of dining with a group of friends recently at one of the fine wineries along Lake Erie. Near the entrance was a rock hanging from a chain – i.e. a “weather rock”. One of our friends explained how it works. ...
The active passive investor
Many years ago an investor’s default investment strategy – in the absence of an advisor’s involvement – was to invest in GICs or Canada Savings Bonds. Today, the more affluent investor’s default strategy is –...
A sense of history will help to interpret small cap return rankings
When asked recently to examine a portfolio manager’s track record, I was reminded of how careful one must be with performance rankings. In this case, I was assessing the strong five-year run of a Canadian Small/Mid Cap Equity manager. It...
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...
