Blog: Cutting Through the Noise
Globe and Mail Articles
Dear Bank Directors: Bask in Glory...or Look to Growth
Excerpt from Tom Bradley's blog on March 21, 2010
There are more than a few money managers who, as large shareholders of the Canadian banks, harbour a secret desire to have a seat at the boardroom table. They've studied these institutions for years and feel they have something to offer. But in reality...Read More
Caisse a Lesson in Liquidity Woes
Excerpt from Tom Bradley's blog on March 8, 2010
With very few exceptions, the investment managers who did poorly when markets were melting down bounced back with a solid return last year. What didn't work in 2008 worked well in 2009. That wasn't the case, however, for one of Canada's highest...Read More
Taking Calculated Risks Can Win the Gold Medal
Excerpt from Tom Bradley's blog on February 20, 2010
Watching the Olympics, the notion of risk is very clear. Athletes need to push it to the limit in order to get to that top spot on the podium. But to obtain the advantage, they risk missing a gate, catching an edge or taking an untimely penalty. They may...Read More
In Choosing Managers, Patience is a Virtue
Excerpt from Tom Bradley's blog on February 6, 2010
A consequence of being a non-benchmark manager and running a transparent shop is that we are asked direct and incisive questions. At a presentation last week, a client asked what criteria I would use for changing a manager on one of our funds...Read More
Don't Let Your Search for Yield Blind You to Risk
Excerpt from Tom Bradley's blog on January 23, 2010
There's no question about it. The defining feature of the capital markets right now is the search for more yield. Individuals are doing it. Institutions are doing it. And new product development is totally focused on it. I get an e-mail almost every day announcing a...Read More
Sensitivity Training for Clients
Excerpt from Tom Bradley's blog on January 9, 2010
A lot is written about how to pick a money manager, but it's also important to know how to be a good client. A manager-client relationship should last a long time and be rooted in confidence, empathy and stability. Both sides are working toward a common...Read More
The Decade That Was: A Lot Has Happened Since Y2K
Excerpt from Tom Bradley's blog on December 26, 2009
We'll be turning the calendar to a new decade in a few days and I've been asking people for their take on it. The response has been underwhelming. Seems nobody has thought about it and a few were even caught off-guard, saying only, “Has it really been 10...Read More
How to Reap Opportunity in Investment Excess
Excerpt from Tom Bradley's blog on December 14, 2009
John Bogle starts his latest book, Enough, with a great story. Kurt Vonnegut and Joseph Heller were at a party hosted by a hedge fund manager. Mr. Vonnegut muses that their host makes more money in a day than Mr. Heller earned from his wildly successful novel...Read More
HST Will Hurt Investors and Their Nest Eggs
Excerpt from Tom Bradley's blog on November 28, 2009
Note to reader: I have an axe to grind. I own and operate a low-cost mutual fund company – and I'm hopping mad about the HST. The impact of Ontario and British Columbia's harmonized sales tax will be negative for investors. No matter who you...Read More
The Party is Rolling Again, so be Cautious
Excerpt from Tom Bradley's blog on November 15, 2009
Here I go again. Just when everyone is starting to enjoy themselves, I'm getting uneasy. It's time for investors to temper their expectations for returns and prepare for some bumps in the road. This doesn't mean the cycle isn't playing out as it should. The...Read More
Be Wary of Candy-coated Mutual Funds
Excerpt from Tom Bradley's blog on November 1, 2009
When you're trick or treating, keep an eye out for mutual funds dressed up as closed-end funds. The latest innovation to take hold in the Canadian wealth management industry is “closed-until-open” funds. There has been a wave of new offerings that...Read More
If a Country is Too Good to be True...Then Diversify
Excerpt from Tom Bradley's blog on October 18, 2009
Oh Canada! In the constant debate about whether this rally is for real or not, there is an underlying subtext. It relates to how much emphasis investors should put on Canada. In the discussion, there are many who are asking the question, why bother putting...Read More
