Transparency is ultimately a useful tool and a move in the right direction: the more we know, the better. Of course, if you've hired a portfolio manager who charges a monthly or quarterly inclusive fee, you have already been enjoying full transparency, long before these regulations came into affect.
Every time you sit down with an investment professional, you are asked what your risk tolerance is. Regardless of the method for defining the risk you'll accept in your investment portfolio, you are wise to define the meaning at the outset with the person administering your money. It will save you a lot of sleepless nights.
Investing and managing money might seem like one such task that requires a large amount of personal attention and professional advice. However, an increasing number of investors have started looking to technology to help manage their money. This trend has seen the rise of a new breed of wealth manager -- "the robo-advisor."
Coupled with the outside noise of market emotions, our individual ability to justify decisions based on sometimes irrelevant and biased information, makes the seemingly simple axiom, 'buy low, sell high' difficult to execute efficiently. Luckily, there are 3 easy ways that you can create and manage an emotional firewall between you and your investments:
When the conversation turns to fraud, investors can sometimes forget that tried-and-tested investment management principles still need to be applied. Even though diversification is one of the most fundamental and enduring investment principles, many investors forget to ensure their assets are diversified widely enough.
Money shouldn't dictate your success or potential. While it may be more difficult without funding to bring your idea to reality, it doesn't mean it can't be done.In fact in some ways it can be a blessing in disguise. Your passion will be put to the test, your vision will be challenged and with each roadblock your determination will strengthen as your vision grows.
Investments in the oil, gas and coal industry are starting to lose their value and will become a liability based on a major UN report released Monday. The UN Intergovernmental Panel on Climate Change's (IPCC) 2,000+page report confirms that Canada must keep more than 75 per cent of its fossil fuel reserves in the ground.
There are a number of human financial gurus working to help you become wealthy, and their advice is based on years if not decades of knowledge and experience. However, there are a number of microbial economic geniuses who have centuries of expertise developing "economic" success. Germs seem to have knowledge to keep economies solid.
The use of some remarkable automated milking systems, which allow cows to choose themselves when to be milked and keep information about each cow's production, has gone up steadily in popularity since they were first introduced in Canada nearly 15 years ago. The growing prevalence of robotic milkers on farms across the country is a sign of encouraging times.
At a recent seminar in Tokyo designed to generate investment in Canada's natural resource sector, the interest among Japanese investors was evident. But it was equally clear that Canada faces stiff competition to woo investors. Simply repeating that "Canada is open for business" and expecting the investment dollars to roll in won't work.
Unlike most other goods or services that financial assets are based on, real estate responds to an innate desire -- the desire to have a piece of this earth one can call his own. This basic yearning has been, in my opinion, the driving force of the real estate market, and the reason I continue to believe in it.
One of Canada's biggest public policy challenges is a coming wave of retiring baby boomers. This will increase the draw on Old Age Security, the Guaranteed Income Supplement, the Canada Pension Plan, and other social programs such as health care while the number of workers left to fund it all will shrink. To enhance economic performance and boost productivity, governments have reached into their policy playbooks.
We've got to come clean about the unethical use of our retirement funds. There isn't enough money to expand the Canadian Pension Plan because the surplus was earmarked to boost the military-industrial complex. When our hard-earned money isn't being used to cause bloodshed, it's going to companies affiliated with the CPP's own CEOs and the Alberta oil sands.
How would you feel if someone told you that every one of your paycheques was being used to support war crimes and keep the companies accused of these atrocities rolling in lucrative business? And how would you feel if you lived off the avails of torture and bloodshed through the Canada Pension Plan (CPP), upon your long-awaited retirement after paying into it? This appears to be our dirty little secret, that Canadians enjoy prosperity at the unethical demise of others.
It has all come to where we are today: Loss of confidence, loss of trust, and staggering market losses. This is the time for transparency, authentic conversation, honesty and humility. Those who display this behaviour have a chance to slowly regain the shattered trust of their customers. Straight talk. Honest talk. Committed talk. No spin. No rationalization. The industry messed up, and the public wants to hear the truth.