Blog: Cutting Through the Noise
Postings
'It Will Sell': A Tipoff for Bad Investment Products
Excerpt from Tom Bradley's blog on April 6, 2009
As the wealth management industry works through this bear market, investment products that promise certainty and limited downside risk are going to be popular. With guaranteed investment certificates (GICs) offering minuscule yields, stock-market...Read More
Case Study: Pat and Stephanie
Excerpt from Scott Ronalds's blog on April 2, 2009
Nobody likes looking at their account statement these days. No matter where you’re invested, returns are ugly. But beyond the numbers, there’s often a lot to be desired. We’ve had a number of statements come across our desk lately from investors who are looking...Read More
Everyone is an Economist
Excerpt from Tom Bradley's blog on March 31, 2009
Recession? Depression? Recessionary depression? Who knows? In the dark moments of an economic and market cycle, I find that everyone becomes an economist. Traders, analysts, portfolio managers, advisors and individual investors all amp up...Read More
Note to Board: Please do a Reality Check
Excerpt from Tom Bradley's blog on March 27, 2009
Manulife is going to pay its retiring CEO $12.5 million in 2009. Dominic D’Alessandro’s pay cheque for 5 months work will be made up of cash ($2.5 million) and restricted shares ($10 million). To quote chairwoman Gail Cook-Bennett, “[the compensation]...Read More
Asset Allocation and Hindsight Bias
Excerpt from Tom Bradley's blog on March 25, 2009
I received an email from a reader who suggested that someone should offer a balanced fund that is more focused on preserving capital. Rather than being stuck on a set asset mix, as most balanced funds are, the fund would have the scope to move between...Read More
Steadyhand.com Moved to a New Host
Excerpt from Scott Ronalds's blog on March 25, 2009
We’ve moved our website to a new host. While you may notice some small changes, including an improved comment feature on the Blog, the site and all its functionality should largely look and work the same. If you notice any oddities or are having any...Read More
Take Baby Steps When Moving Back Into Stocks
Excerpt from Tom Bradley's blog on March 23, 2009
The Globe and Mail, Report on Business. Published March 21, 2009. It is hard to find an individual investor who thinks that now is the right time to buy into the stock market. People that are holding cash are happy and have no intention of parting with their...Read More
Relative to What
Excerpt from Tom Bradley's blog on March 20, 2009
In the investment business, valuation comparisons are very important. How one security stacks up against another in terms of price to earnings ratio, cash flow multiple or yield is at the core of what we do. CP Rail is cheaper than CN because it has a lower price...Read More
Podcast: Warren Buffett's 2008 Annual Letter
Excerpt from Scott Ronalds's blog on March 10, 2009
In this podcast, we discuss Warren Buffett's recently published annual letter to the shareholders of Berkshire Hathaway. We posted a series of blogs last week on Buffett's recap of Berkshire's operations in 2008, and Tom's Globe and Mail column on the weekend...
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When Others Lose Their Heads, Buffett Keeps His Focus
Excerpt from Tom Bradley's blog on March 9, 2009
The Globe and Mail, Report on Business. Published March 7, 2009. The news media have been remarkably quiet about the Berkshire Hathaway Inc. newsletter this year. And yet, as we go through this historic time, we need its calm, common sense and...Read More
The Buffett Letter #4 - Mae West, Snow White and Lots of Yawns
Excerpt from Tom Bradley's blog on March 5, 2009
It would be an oversight to do a series of postings on Warren Buffett’s 2008 Letter to the Shareholders of Berkshire Hathaway and not review some of the great quotes and analogies. On the current investing environment: “Things also went ...Read More
The Buffett Letter #3 - Safety is Overpriced; Risk is Underpriced
Excerpt from Tom Bradley's blog on March 4, 2009
In this, our third posting on Warren Buffett’s 2008 Letter to the Shareholders of Berkshire Hathaway , there is no introduction or additional explanation required. This is his comment on the current investing environment. “The investment world has gone from ...Read More
