May 16, 2020
| Quiet Counsel
| 9 min read
Wrestling the Bear
Due to the outbreak of COVID-19, the past few months have been unprecedented on many levels. With the combination of elevated market volatility, a steep decline in portfolio values, and a surplus of time to get wrapped up in the daily news, many are concerned about their businesses, savings, and the resulting risk...
May 15, 2020
| Institutional Perspectives
| 12 min read
Has Value Had Its Last Dance?
If we no longer have to care about the price we pay for a company, then Value is dead. If the prices paid for businesses are impervious to human emotion and the fear and greed to which we have previously been susceptible, I suppose we can read Value its last rights. And if...
May 15, 2020
| Planning Matters
| 6 min read
COVID-19 Programs Affecting Your Finances
It seems the past two months have been a steady cycle of uncertainty and questions, answered mostly by more questions and uncertainty. In response, we decided to change the format for Planning Matters this quarter so that we might pass on some needed facts, direction and advice to our clients across a variety...
February 16, 2020
| Quiet Counsel
| 7 min read
Combatting the Cost of Fear
Back in early 2019, we published our annual outlook edition of Quiet Counsel in which we made the case that market corrections such as what occurred in December 2018 are in fact a relatively common phenomenon. We suggested support from central banks through lower interest rates would reduce the near-term risks of recession...
February 15, 2020
| Institutional Perspectives
| 6 min read
Ballast in the Storm: In Defense of Bonds in a Decade of Low Interest Rates
The 2010s were capped off by a strong 2019 in which the majority of asset classes globally enjoyed significant gains.In Canada, the FTSE Canada Universe Bond Index rose 6.9 percent last year, the third-best year of the decade and one which handily beat the 4.3 percent 10-year annualized rate of return. Strong bond...
February 15, 2020
| Planning Matters
| 8 min read
Joint Assets as a Planning Device - Tool or Trap?
Joint assets are a topic shrouded in misinformation. It has been over a decade since the laws governing their use underwent a seismic shift, yet they continue to be used casually with little appreciation for the risks. Notably, since this shift flowed from the Supreme Court of Canada, all provinces and territories are...
November 16, 2019
| Quiet Counsel
| 8 min read
Negative Interest Rates, Explained
If the idea of negative interest rates confuses you, you’re not alone. The concept seems to undermine our understanding of how lending is supposed to work: investors loan their money to governments or companies that then use it to invest in their operations. The relationship relies on the promise that you will be...
November 15, 2019
| Institutional Perspectives
| 7 min read
Battling Bias in Investing
Humans are imperfect beings. We can educate ourselves, gain experience, and even learn from our mistakes but still, our minds can and will play tricks on us. As investors, this is a minefield. With the list of psychological biases a mile long, every time we make a decision we risk stepping on one...
November 15, 2019
| Planning Matters
| 6 min read
Addressing Mental Illness in Estate Plans
In “Managing Capacity,” we discussed planning strategies in the case of diminished mental capacity through dementia. This quarter, we explore the broader issue of estate planning should your kids, your spouse, or your parents suffer from a mental health disorder. The quality of life for your surviving family is at stake should their...
August 16, 2019
| Quiet Counsel
| 6 min read
The Highs of Low-Volatility Investing
By March 9, 2009, the subprime mortgage crisis had knocked nearly 57% off the S&P 500 Index’s highs of 17 months prior. These were dark days. Although it has now been over ten years since markets bottomed, the scars remain and still impact investor behaviour. With markets again near all-time highs, many are...
August 16, 2019
| Institutional Perspectives
| 6 min read
The Highs of Low-Volatility Investing
By March 9, 2009, the subprime mortgage crisis had knocked nearly 57% off the S&P 500 Index’s highs of 17 months prior. These were dark days. Although it has now been over ten years since markets bottomed, the scars remain and still impact investor behavior. With markets again near all-time highs, many are...
August 15, 2019
| Planning Matters
| 5 min read
Principal Residence Exemption Guidelines
In 2016, the Canada Revenue Agency (CRA) changed its administrative policy relating to the reporting of the principal residence exemption. This has made reporting the disposition or “deemed disposition” of a principal residence more important in recent years.The concept of a deemed disposition is one we have found is not well understood by...