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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...
Bond bears’ growl is all noise
Type the phrase “bond bear market” into Google and you’ll see a long list of articles proclaiming the certainty of the oncoming bear market in bonds. I agree that bond yields are artificially low and that bonds are expensive...
Private REITs require careful due diligence
The Globe and Mail shed a bit of light on the small universe of private real estate investment trusts (REITs) in Canada. The article touches on both the benefits and perils of this emerging product segment. I recently reviewed a Canadian...
A simple but successful actively managed portfolio
Fifteen years ago, writer and broadcaster Alison Griffiths asked University of Toronto professor Eric Kirzner to create what was named the ‘Easy Chair Portfolio’. The goal was to create a simple portfolio structure that provided...
Webinar: ETF Portfolio Construction
Last week, I spoke about constructing portfolios using exchange-traded funds (ETFs) to a group made up mostly of financial advisors. Investment Executive hosted the June 19 webinar and they archived the entire presentation and question period on...
Desperately seeking income
The Globe and Mail recently reported that Michael Lee-Chin was planning a return to the retail investment industry. He has spoken specifically about his desire to bring institutional private equity exposure to retail investors in Canada. ...
A balanced portfolio’s expected returns
I recently provided the Globe & Mail’s Rob Carrick with my long-term expectations for investment returns and inflation over the next decade. With the exception of a couple of outliers – one bull, one bear – I admit to...
Facebook IPO separates investors from speculators
Like many, I have been watching the Facebook public market debut and post-IPO activity with great interest. While watching from the sidelines I came across an article regarding regulatory inquiries about what went wrong with the overhyped IPO....
Star manager start-ups – due diligence considerations
Some retail mutual fund companies are traditional money management firms that have a single guiding investment philosophy driving the management of all client portfolios – and the in-house firm is the only manager of the funds on offer. ...
Stewarding The Family Foundation
According to various estimates, there are currently approximately 28,000 households in Canada with investable assets in excess of $10 Million. Although these households represent a very small portion of the total households in Canada (<1%), we...
