John D. Rockefeller, the world’s first billionaire, once famously remarked, “Do you know the only thing that gives me pleasure? It’s to see my dividends coming in.” 1 Dividend-paying stocks represent a key element of a long-term total return approach, so it is important to understand the role they can play in portfolios...

There was a day a few years ago when my cottage was much simpler to look after. I used to drive to Muskoka on the first long weekend in the summer and, in a total of 12 minutes, have the place ready to go. It was called a tent, and it came with...

Being a “value” investor through a growth market cycle requires patience and discipline, and this past decade has required a bigger dose than usual of both. But a look at the many factors that have driven this growth run and how they have been rapidly changing of late makes a compelling case that...

It’s human nature to avoid thinking about the fallibility of our bodies – that we might one day lose the use of our legs, or our eyes, or our minds. Perhaps it is in our DNA, an automatic suppression of the consequences of our natural decay, like the fading memory of a first...

In managing our clients’ wealth at Leith Wheeler over the past 36 years, we’ve worked with many families as they have developed intergenerational tax and estate plans. Our role is to ensure that our clients own their assets in the manner that will meet their long-term objectives, on an after-tax basis. As part...

An old sailing adage states that “the time to reef is when you first think of it.” Reefing is the practice of reducing the area of your sail in anticipation of rough weather. You will seldom regret reefing early and you will almost always regret reefing late. In our view, this metaphor is...

I was recently reflecting on the many lessons I have learned over my career as an equity analyst at Leith Wheeler. I thought I would describe the following four lessons as well as some of the mistakes I have made over the years.Lesson 1: The stock market is a para-mutual betting system. This...

Thank you for reading the inaugural edition of our Planning Matters report. Our intention is to offer insight into areas outside of the investing topics that we explore each quarter in our Investment Outlook. The world of “ Personal Finance ” is very large and we will be tapping into the minds of...

The Responsibilities of an Executor One of the most important decisions in preparing a Will is choosing an executor. However, all too often insufficient time is spent on this critical decision. Usually, a family member or friend is chosen without recognizing that being an executor is very demanding and time consuming. In order...

Powers of Attorney If you were in an accident that left you unable to manage your financial affairs, do you have someone you trust who could manage your affairs? Have you appointed that person to be your “ attorney ” under a power of attorney document? If not, you may be surprised to...