Blog


30

Oct 2021

Average For a Very Long Time

“Compound interest is the eighth wonder of the world.He who understands it, earns it …. he who doesn’t … pays it.” – Albert Einstein I am humbled to have worked with a number of families for over 25 years. Their long-term returns have ranged from 7% to 9%*, which, on the face of it, seems fine, but not necessarily outstanding. But here’s the thing … 7% to 9%*…

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Average For a Very Long Time

24

Sep 2021

Simplicity is the Ultimate Sophistication

“It’s taken me all my life to know which notes not to play.”– Dizzy Gillespie  As I rapidly approach my 60th year I am increasingly convinced that, as in most things in life, simple is usually better than complex. And so it is with investing. As a wealth advisor I am on the receiving end of the marketing skills of individuals and companies that have “interesting…

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Simplicity is the Ultimate Sophistication

21

Jul 2021

What We Don’t Know

“There are two kinds of forecasters; those who don’t know and those who don’t know they don’t know.”– John Kenneth Galbraith At age 24, when I started in the wealth planning business I was about as naïve and ignorant as a young man could be. Unfortunately, I just didn’t know it at the time. Back then I wanted to be the guy who had all the…

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What We Don’t Know

16

Jun 2021

The Pyramid of Investment Success

“The single most important variable in your quest for equity investment success is also the only variable that you ultimately control: your own behavior.”– Nick Murray What is the secret to multi-decade, inter-generational wealth creation? Fortunately, it can be summed up in one easy illustration I call “The Pyramid of Investment Success”.  Having been in the wealth management business since 1985, I’m convinced that over…

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The Pyramid of Investment Success

01

Jun 2021

Are you a pleasant, wealthy sociopath?

“I always want to say to people who want to be rich and famous: ‘try being rich first’. See if that doesn’t cover most of it. There’s not much downside to being rich, other than paying taxes and having your relatives ask you for money. But when you become famous, you end up with a 24-hour job.” – Bill Murray One of the ways I filter out 99.9% of the…

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Are you a pleasant, wealthy sociopath?

20

Apr 2021

It’s Time To Pluck The Goose

“The art of taxation consists in so plucking the goose as to obtain the largest amount of feathers with the least amount of hissing.” – Jean-Baptiste Colbert  As we prepare for this year’s “plucking” perhaps the article below will help minimize the “hissing”. The article, written by Ryan Holiday, is directed towards an American audience (with a Stoic bent). However, if you change the date to…

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It’s Time To Pluck The Goose

26

Mar 2021

Why Having All Of Your Eggs In One Basket Makes Sense

“The rich invest in time, the poor invest in money.”  – Warren Buffet I was recently referred to a wonderful family who had come into a significant windfall as a result of a commercial real estate sale. I thought the potential relationship was moving ahead swimmingly well right up to the point when I mentioned that one of my “non-negotiables” was that I manage all my…

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Why Having All Of Your Eggs In One Basket Makes Sense

24

Feb 2021

There’s No Place Like Home?

“The only investors who shouldn’t diversify  are those who are right 100% of the time.” – John Templeton I do appreciate that for most investors one of our behavioural “ticks” is to invest primarily in what we are familiar with. As a result, time and time again, I come across portfolios that are significantly over invested in Canadian companies. RBC Global Asset Management reported that as of May, 2019, while Canada…

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There’s No Place Like Home?

25

Jan 2021

It All Goes Back In The Box

“You have to ask yourself: When you finally get the ultimate possession, when you’ve made the ultimate purchase, when you buy the ultimate home, when you have stored up financial security and climbed the ladder of success to the highest rung you can possibly climb it, and the thrill wears off – and it will wear off – then what?”– John Ortberg Growing up I was…

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It All Goes Back In The Box

18

Dec 2020

Merry Christmas from Monty the Penguin

“There is no such thing as information overload – only filter failure.”– Clay Shirky For over a decade the British retailer, John Lewis, has aired what has become an iconic holiday season commercial. Although this year’s “Give a Little Love” was clever, in my opinion nothing comes close to 2014’s “Monty the Penguin”. Ironically, given our opening Dr. Seuss quote, it is a rather slick piece of marketing…

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