Knowledge Centre

Monthly Insight

CHERRY-PICKING July 2019
Cherry-picking is the practice of presenting the results of a study that best supports your argument, instead of reporting all the findings. If you start with an open mind, that is perfect; however if one sets out to prove what one already believes, you are at the least misinterpreting the...
DAYTIME IS FOR LOSERS June 2019
A widespread misconception is that the stock markets are only open in the daytime. This is wrong considering that stock markets continue to work during the night. In fact, it appears that the daytime market is not where the best results are obtained. Overnight is when the real money is...
RIDE THE RALLY May 2019
The current Canadian stock market rally has reached 16.9% so far this year and it appears to be in good shape to continue roaring right along. Should we be celebrating? There is certainly a strong bullish case to be made because after market declines (including 2018) going back to 1924,...
THE TRUE COST OF ETFS April 2019
Most investors know that passive Exchange Traded Funds (ETFs) are low cost investment vehicles, correct? Well, almost right! Passive ETFs are “designed” to track an index or market at a low cost. ETFs may be relatively cheap from a Management Expense Ratio (MER) perspective but the costs don’t stop there....
On The Way Up, Again March 2019
Many investors were all too willing to bail on stocks recently as their prospects looked quite dim. Of course, the same was being said of the market in early 2009 when the world was thought to be on the edge of financial ruin. The reality was that the first part...
The Other January Effect February 2019
Most investors have heard of the January Effect which is the observation that January has historically been the best month to be invested in stocks. This year was particularly good with Canadian and U.S. markets up 8.7% and 8.0% respectively. However, there is another January effect which states that, “as...
Balancing Risk & Reward January 2019
One of the core pieces of information in the financial planning process is the assumption of what the future return for a portfolio could be. Certainly, higher returns are more desirable as they generate greater spending power and/or the potential to achiever goals sooner. Of course, the standard caveat is...
Bursting the High Volatility Bubble December 2018
Current volatility levels are not even close to being high. In fact, we are very close to being in one of the least volatile periods since 2000.
What will Trigger a Recession November 2018
The riskiest forms of lending are missing, financial institutions are well capitalized, and while asset prices look stretched, it is difficult to make the case that they are dangerously overvalued. So hopefully the next global downturn is more likely to be relatively mild and short lived.
Peak Volatility October 2018
October gives way to what is historically the best four months of stock performance in Canada, the months of December through March.

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