Search found 5452 matches

by ghariton
23 Apr 2017 19:14
Forum: Financial News, Policy and Economics
Topic: Clippings 2017
Replies: 55
Views: 4609

Re: Market Timing

Based on what I can find out about him ( https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2938271 ), his comments have credibility. I;ve gone through the paper and it is the worst sort of gibberish. It concerns a review by F. Y. Edgeworth of Keynes' Treatise on Probability, and declares that Edg...
by ghariton
15 Apr 2017 03:32
Forum: Financial Planning and Building Portfolios
Topic: Mercer is using a proprietary fund universe to argue that Canadian active equity funds have trounced the index
Replies: 9
Views: 573

Re: Mercer is using a proprietary fund universe to argue that Canadian active equity funds have trounced the index

I don't know about the Mercer universe, but Morneau Shepell (yes that Morneau) is another major player in this pension advisor/consulting space. If you want to look at a current report, read Performance universe of pension managers' pooled funds as at December 31, 2016 . Thank you for the link. Tha...
by ghariton
12 Apr 2017 01:38
Forum: Retirement, Pensions and Peace of Mind
Topic: Should I take commuted value or deferred pension
Replies: 28
Views: 868

Re: Should I take commuted value or deferred pension

At such a young age (34), if the commuted option is taken, wouldn't it be a no brainer to put it into something simple like VT+BND (in whatever allocation of your choosing) given a +30 year runway to compound? Am I missing something? That's what I would do, in hindsight. But... (a) Your best accumu...
by ghariton
11 Apr 2017 23:31
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: 2017 a very tough market
Replies: 34
Views: 1419

Re: 2017 a very tough market

Generally buy and hold. Every time I want to sell something, I think of the buyer on the other side and wonder what he knows that I don't. The exception is my play money, which has gone to IBB and PSCH on the U.S, markets. I figure that health care in the U.S. is currently in such a mess that nobody...
by ghariton
11 Apr 2017 23:20
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Unsecured Debentures
Replies: 11
Views: 274

Re: Unsecured Debentures

As far as I'm concerned, the extra return is not worth the extra risk. As I understand it, Atrium's main line of business is issuing mortgages. That looks like a high-risk business to me in Canada these days. Add to that that these debentures are at the bottom of creditor priorities, and I would wor...
by ghariton
08 Apr 2017 19:17
Forum: Financial News, Policy and Economics
Topic: Which Broker Do you Use?
Replies: 91
Views: 2434

Re: Which Broker Do you Use?

steves wrote:
08 Apr 2017 17:55
I use my barber Luigi's brother in law Marko. He works out of his apartment and has promised really big returns. I will keep you posted.
I would find it more reassuring if he flew his Cessna to Colombia from time to time, with stop-overs at uncrowded air strips in California.

George
by ghariton
08 Apr 2017 19:12
Forum: Financial Planning and Building Portfolios
Topic: Am I really doing okay?
Replies: 33
Views: 1186

Re: Am I really doing okay?

I contribute to a pension plan. Yet, I also have bonds in my portfolio. That's because even if I was to try very hard, I would be unable to sell parts of my pension to buy stocks, when stocks go on sale. How about that. A secret market timer. :D :D :D FWIW I'm nearly always fully invested. In fact,...
by ghariton
04 Apr 2017 22:32
Forum: Financial News, Policy and Economics
Topic: Public Sector Salary Disclosure
Replies: 42
Views: 1810

Re: Public Sector Salary Disclosure

As a senior exec, my name and all details of my comp was disclosed. I wasn't happy about it but it was a small price to pay. I think the disclosure actually tended to increase comp over time. I was very interested in corporate governance about a dozen years ago. Around that time, there was a push f...
by ghariton
04 Apr 2017 18:10
Forum: Financial News, Policy and Economics
Topic: Public Sector Salary Disclosure
Replies: 42
Views: 1810

Re: Public Sector Salary Disclosure

If you want to know what a federal government employee is making, you can get a pretty good idea by looking at this . It only gives ranges, but the ranges are usually pretty tight. The person's title and type of job, plus some very elementary knowledge of the public service, is a good indicator of w...
by ghariton
04 Apr 2017 18:02
Forum: Retirement, Pensions and Peace of Mind
Topic: Financially uninterested spouse inheriting stock portfolio
Replies: 46
Views: 1438

Re: Financially uninterested spouse inheriting stock portfolio

In my case, a one-page IPS would be too demanding for my spouse -- and, I suspect, for my children. The maximum attention span I can get from my spouse on financial matters is well under a minute. The two times I insisted, she became angry and told me that all that was MY job. (It's true that I don'...
by ghariton
04 Apr 2017 10:54
Forum: Retirement, Pensions and Peace of Mind
Topic: Financially uninterested spouse inheriting stock portfolio
Replies: 46
Views: 1438

Re: Financially uninterested spouse inheriting stock portfolio

AUM = what? 2 yen AUM = assets under management This seems to have become the most popular compensation mechanism for trustees, financial advisers. It is analogous to the real estate agent compensation based on commission. Never made any sense to me. The work effort is largely independent of the si...
by ghariton
04 Apr 2017 10:39
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: dedicated brokerages vs Banks
Replies: 16
Views: 428

Re: dedicated brokerages vs Banks

A minor point in favour of bank-affiliated brokers: It makes transferring money between various investment accounts, checking/savings accounts and credit cards extremely easy. As stated above, while there are many differences, they don't matter to me. In particular, I don't use their research report...
by ghariton
03 Apr 2017 13:10
Forum: Retirement, Pensions and Peace of Mind
Topic: Financially uninterested spouse inheriting stock portfolio
Replies: 46
Views: 1438

Re: Financially uninterested spouse inheriting stock portfolio

If you don't mind me asking, what company did you find that would manage a trust for 6 k a year. I would assume you know the risks of having an individual do this, and what happens if that individual dies or becomes incompetent before the trust is terminated.? A sole practitioner lawyer. She has ar...
by ghariton
02 Apr 2017 22:50
Forum: Retirement, Pensions and Peace of Mind
Topic: Financially uninterested spouse inheriting stock portfolio
Replies: 46
Views: 1438

Re: Financially uninterested spouse inheriting stock portfolio

If your spouse is really uninterested in money (except for spending it), like my wife, one option is to leave your financial assets in trust, with the spouse as beneficiary for their lifetime, then to be distributed to the ultimate heirs. If the heirs are also completely uninterested, the trust can...
by ghariton
02 Apr 2017 19:21
Forum: Retirement, Pensions and Peace of Mind
Topic: Financially uninterested spouse inheriting stock portfolio
Replies: 46
Views: 1438

Re: Financially uninterested spouse inheriting stock portfolio

If your spouse is really uninterested in money (except for spending it), like my wife, one option is to leave your financial assets in trust, with the spouse as beneficiary for their lifetime, then to be distributed to the ultimate heirs. If the heirs are also completely uninterested, the trust can ...
by ghariton
29 Mar 2017 18:46
Forum: Retirement, Pensions and Peace of Mind
Topic: CPP Deferral debate - Fred Vettese article discussion
Replies: 159
Views: 2160

Re: CPP Deferral debate - Fred Vettese article discussion

I think that we are addressing different problems. Yes and no. You are keeping the level of risk constant (more or less -- see duration and opportunity cost risk). That's fine for the exercise you are doing. My point, which I should have articulated at greater length because it is much too terse up...
by ghariton
29 Mar 2017 12:12
Forum: Retirement, Pensions and Peace of Mind
Topic: CPP Deferral debate - Fred Vettese article discussion
Replies: 159
Views: 2160

Re: CPP Deferral debate - Fred Vettese article discussion

You may be confusing strategy with outcome. I;m not sure I'm interpreting you properly. But if the point is that I accepted higher risk by investing in VTI than by leaving the money in the CPP, that's quite correct. I was still working, so I could accept a higher risk with those funds. Others may b...
by ghariton
29 Mar 2017 00:46
Forum: Retirement, Pensions and Peace of Mind
Topic: CPP Deferral debate - Fred Vettese article discussion
Replies: 159
Views: 2160

Re: CPP Deferral debate - Fred Vettese article discussion

So, effectively, one could increase the bonus of deferring the CPP pension by taking some risk with the money used to cover the 10-year gap. Interesting. I haven't run the numbers (I'm recovering from eye surgery again), but my intuition on the interaction of delay and risk would be the opposite. I...
by ghariton
27 Mar 2017 12:41
Forum: Financial Planning and Building Portfolios
Topic: The Implications of Behavioral Finance
Replies: 141
Views: 41749

Re: The Implications of Behavioral Finance

I agree that Kahneman's Thinking Fast and Slow is a great book. Probably the best book for DIY investors to start with. and to re-read from time to time. I found Nudge very disappointing. But then, I find most of Cass Sunstein's books disappointing. They start out with lots of promise, which dissolv...
by ghariton
27 Mar 2017 02:27
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Housing Bust 2017
Replies: 146
Views: 4893

Re: Housing Bust 2017

The fairest way to deal with this mess would be by removing the capital gains exemption on primary residencies. There is no logical long-term reason why the government should be positively discriminating between different asset types and inducing people to borrow more and spend faster. What politic...
by ghariton
26 Mar 2017 13:01
Forum: Retirement, Pensions and Peace of Mind
Topic: CPP Deferral debate - Fred Vettese article discussion
Replies: 159
Views: 2160

Re: CPP Deferral debate - Fred Vettese article discussion

Longinvest, I'm not sure, but I think that you are implicitly assuming a real discount rate of zero. As the real discount rate increases, the benefits of delay will decrease. It would be interesting to see the sensitivities to the discount rate. I am agnostic about future interest rates, but as you ...
by ghariton
25 Mar 2017 12:01
Forum: Financial Planning and Building Portfolios
Topic: VT vs VXUS + VTI
Replies: 24
Views: 742

Re: VT vs VXUS + VTI

My US Vanguard holdings have too much unrealized cap gains to take the hit, but I mitigated the risk the last several years by byying Canadian equivalents. The key is to stay on top of any changes in how US estate law impacts Canadians and do just enough to stay below the radar. Right now, the thre...
by ghariton
24 Mar 2017 11:27
Forum: Financial News, Policy and Economics
Topic: Clippings 2017
Replies: 55
Views: 4609

Re: Clippings 2017

It's a reminder that the typical role of bonds it to dampen stock volatility, in a portfolio, and that rising rates are actually good for bonds, as long as the time horizon is longer than the duration. I wholeheartedly agree with the first half of that. But I think that the second part has to be qu...
by ghariton
22 Mar 2017 19:07
Forum: Financial News, Policy and Economics
Topic: Federal Budget 2017 - March 22
Replies: 55
Views: 2719

Re: Federal Budget 2017 - March 22

Inclusion rate for cap gains and div taxation are still in their radar. Yes indeed. However it's difficult to see how that will play out. If they study it over the summer and fall, it's unlikely that they will make substantive changes for the 2017 taxation year. By 2019 they will be in full electio...
by ghariton
22 Mar 2017 17:49
Forum: Financial News, Policy and Economics
Topic: Federal Budget 2017 - March 22
Replies: 55
Views: 2719

Re: Federal Budget 2017 - March 22

Also an end to income sprinkling, i.e. using a CCPC to distribute income through family members who pay at a lower effective tax rate. That's how I funded the children's education and was one of the main reasons I set up a CCPC (the other was to build up retirement funds via retained earnings). Both...