Articles
I ran into an old high school buddy the other day over a cup of coffee. His name is Alex. We hadn’t seen each other in years, and catching up was like opening a time capsule. Alex’s story is pretty interesting—he’s a successful business owner, passionate about what he does, and he’s been through a lot of life changes. Now, he’s on his second marriage, which means he has a blended family with kids from his first marriage and his new spouse.
As the seasons change and routines reset, September offers an ideal time to revisit the fundamentals, particularly when it comes to your finances. Whether you are just starting your financial journey, approaching retirement, or somewhere in between, one of the most important decisions you will face is how to manage your money effectively. Should you hire a financial advisor, engage a financial planner, or take the do-it-yourself (DIY) route? Each option serves different needs and comes with distinct advantages and challenges. This article unpacks the roles of financial advisors and planners, explores the DIY approach, and provides practical guidance to help you choose the path best suited to your unique financial situation.
I read an interesting article in the New York Times recently about the possibility of a “market melt-up”. The article quotes Edward Yardeni, the independent Wall Street economist and strategist: “At the moment, he said, the market is “sort of, kind of, in a melt-up.” Referring to the sharp stock downturn earlier this year, he added, “Just look at the way this correction has been reversed, it’s been a melt-up.” Stock valuations are “pretty rich,” he said, and people in the markets are “back to believing” that artificial intelligence is “a miracle technology.”
I’ve owned a very successful engineering firm for over 35 years now and I plan to finally retire this summer at age 72. I have two trusted investment advisors (at different firms) and they both run balanced portfolios for me. Starting this fall I would like to draw income from my portfolio, but I am unsure as to which accounts I should draw from. I have corporate accounts, registered accounts and personal accounts. How do you think I should set myself up? Should I have a meeting with both of my advisors to discuss this?
Q: How serious do you feel the aggregate global debt situation is? I have read that the total is now well over $300 trillion USD. Government and consumer spending seems somewhat out of control in much of the world. Let's put it this way - if the Earth was part of an interplanetary federation, would the aliens' financial authorities think we are heading towards bankruptcy?
Each spring, global value investors make the pilgrimage to Toronto to attend The Ben Graham Centre’s Value Investing Conference. This year, those hoping to gain deep insight into the shambolic state of the markets got the headline message: “Don’t over-emphasize the macro.” Here are some highlights from this year’s event:
In the financial markets, what first appears obvious can prove to be misleading upon closer examination. Many investors have a rough idea of the qualities that strong stocks might exhibit, but the factors that make up a high-quality stock might surprise most investors.
The behaviour of insiders—managers, officers or anyone who owns more than 10% of a company’s shares—has long been regarded as a good indicator of a stock’s future direction. An insider knows the company intimately, and while he or she may sell their shares to finance a house purchase or other major expense, an insider who buys into the company shows they are confident the stock will rise. Investors can profit by trading alongside these corporate soothsayers.
Q: A dark 2025/2026 scenario would be a mild recession in Canada, and a more serious recession in the U.S., both deepened at some point by a U.S. dollar crisis due to massive deficits and chaotic politics. How should a TFSA be positioned to weather this? Dividend stocks versus bonds? How much of portfolio in gold stocks? How big a cash allocation? What else?