Monthly Newsletter – February 2024

By |Mar 5th, 2024|

Spring has arrived, ushering in the annual ritual of filing income tax returns. This is a process marked by the increasing complexity of the Canada Income Tax Act to which the Government has responded by hiring at a rate exceeding that of the general population by almost 4-fold over the past 10 years. Unfortunately, this is not isolated to CRA and is symptomatic of declining productivity across the country. In this month's newsletter, David discusses how this impacts growth prospects for Canada and how we are addressing it in client portfolios.

Monthly Newsletter – January 2024

By |Feb 2nd, 2024|

In this month’s newsletter David writes about how the Canadian government's got a reminder for us – hey, you're getting old! They let him know this by telling him to start taking money out of his RRSP, which is now a RRIF, and begin paying the taxes that go along with it. They say death and taxes are inevitable, which is at least half true, but good planning can sure take the edge off taxes. Just don't wait too long.

Monthly Newsletter – December 2023

By |Jan 2nd, 2024|

In our year-end newsletter, David reflects on the unpredictability of financial markets, highlighting the surprising success of the stock and bond markets in 2023 despite widespread predictions of a recession. He emphasizes the importance of acknowledging uncertainties and suggests that understanding what is known and unknown is crucial for successful long-term investing. David expresses confidence in active management over passive strategies and discusses the uncertainties surrounding stock market movements and interest rates. He underscores the focus on high-quality stocks, the recognition of value over time, and the significance of behavioral biases in investment decisions.

Monthly Newsletter – November 2023

By |Dec 1st, 2023|

Alphabet Soup As 2023 draws to a close, we have added another new acronym to the ever-growing alphabet soup of government financial and tax planning programs. Here’s a quick update on what’s new (and old): FHSA.  The First Home [...]

Monthly Newsletter – October 2023

By |Nov 2nd, 2023|

Why We Hate The Stock Market, And Why It Is So Necessary Every now and then we encounter a potential client who wants to open an investment account but doesn’t want to put money into the stock market. “It’s just [...]

Monthly Newsletter – September 2023

By |Oct 3rd, 2023|

Ignore the Merchants of Fear, and Count Our Many Blessings Back in the days when everyone got their news from newspapers and television, the wisdom in the media industry was “if it bleeds, it leads”. In other words, bad news [...]

Monthly Newsletter – August 2023

By |Sep 6th, 2023|

In this newsletter David draws parallels between the winding journey of a road trip and the unpredictable nature of life and financial markets. He discusses recent economic news, including a minor GDP dip in Canada's second quarter, and emphasize that recessions are a natural part of the economic cycle. David advises against worrying about a potential recession and highlights the importance of long-term investing, encouraging a patient and steady approach to investing, emphasizing the potential benefits of market downturns in the long run.

Monthly Newsletter – July 2023

By |Aug 1st, 2023|

This months newsletter delves into the issue of productivity, growth, and investing in Canada. David highlights Canada's productivity challenges and its struggle to keep up with other wealthy nations, resulting in lower per capita income. He discusses possible factors contributing to this situation, including low business investment, regulatory obstacles, and high taxes. He also compares Canada's technological progress to that of the United States, where companies like the "Magnificent Seven" have experienced significant growth and wealth creation. While Canada certainly has its strengths and investment opportunities, David suggests that, right now, the U.S. is where the money is.

Monthly Newsletter – June 2023

By |Jul 5th, 2023|

In our newsletter this month we have a double shot from David to supplement your summer reading. In the first article, he discusses the significance of the recent milestone of 40 million people now in Canada and the importance of continued immigration to our long-term prosperity. The bonus content outlines why the summer economic recession has not happened, concluding with his best advice to clients.

Monthly Newsletter – May 2023

By |Jun 1st, 2023|

The good news – on average, we are living longer and healthier lives. On the flip side – we need our savings to last as long as we do meaning we may need more. How long we live is one of the key determinants of how much savings are required to maintain our lifestyle in retirement but there are others that are equally important. In this month’s newsletter, David outlines these and explains how we work with our clients to increase the likelihood of achieving their goals.

Monthly Newsletter – April 2023

By |May 3rd, 2023|

Many of our clients and, for that matter, many people in general, are asking important questions like – Will there be a recession or, when will interest rates start to come down? These are important and the answers will certainly be important in determining how well an investment portfolio will do in 2023, however, the answers are highly uncertain. In this month’s newsletter, David argues that there is another question that is more important in terms of managing your investments can be answered with a higher degree of certainty.

Monthly Newsletter – March 2023

By |Apr 3rd, 2023|

Like you, I am carrying nicely printed pieces of plastic in my wallet. The green ones are “worth” $20.  Well, that is to say, you can exchange them for $20 of other stuff; and you can pay your taxes with them.  The value of the plastic, as plastic, is of course pretty much zero.  It was not always this way with money. David explains these in this month’s newsletter.

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