Blog: Cutting Through the Noise
Postings
Weathering the Storm
Excerpt from Tom Bradley's blog on September 15, 2008
In markets like this, almost everyone is unhappy. Some conservative investors might have done OK if they owned lots of government bonds, but most are down more than they expected and they didn’t expect to be down at all. No ...Read More
The Active Versus Passive Debate
Excerpt from Tom Bradley's blog on September 11, 2008
I recently received some thoughtful comments and questions from a client who is weighing the benefits of both the active and passive (indexing) investment approaches. I felt my responses may be helpful to others with the same thoughts/questions. Investor: ...Read More
Burgundy v. Sprott: Opposite Ends of the Performance Cycle - For Now
Excerpt from Tom Bradley's blog on September 8, 2008
The Globe and Mail, Report on Business Published September 6, 2008 I recently had the occasion to hear marketing pitches from two leading investment firms: Burgundy Asset Management and Sprott Asset Management. Both have built wealth for their clients and ...Read More
Sowing the Seeds
Excerpt from Tom Bradley's blog on September 4, 2008
I came across a great quote today and it is totally applicable to the market environment we find ourselves in. It comes from Tim McElvaine’s newsletter ( www.mcelvaine.com ). He in turn got it from an interview with Chris Davis ...Read More
The Unanswerable Question
Excerpt from Tom Bradley's blog on August 29, 2008
I’m not much of a tape watcher or television junkie, but I’ve had the Business News Network (BNN) and Bloomberg News turned on more than usual this week. I don’t know why really, because it has been an incredibly slow ...Read More
Scale, Scale, Scale
Excerpt from Tom Bradley's blog on August 28, 2008
I understand “location, location, location” in the real estate business.” What I don’t get is “scale, scale, scale” in the investment business. But “scale” is the word of the week in our industry. Both Rick Waugh, the CEO of Bank ...Read More
The Selling Side: Where the Best Money Managers Earn Their Chops
Excerpt from Tom Bradley's blog on August 25, 2008
The Globe and Mail, Report on Business Published August 23, 2008 For a while now I have been trying to buy my neighbour's property. He hasn't lived there for 15 years, but keeps it as an investment. When I broach ...Read More
Short Termism - Doesn't Make Sense
Excerpt from Tom Bradley's blog on August 21, 2008
Dan Lewin, a friend and former colleague, sent me an interesting piece last week. It is a letter to clients from Howard Marks, the Chairman of Oaktree Capital Management, a U.S. asset manager. It is all good, but I particularly ...Read More
Saxon Deal will Complete Predictable Life Cycle
Excerpt from Tom Bradley's blog on August 11, 2008
The Globe and Mail, Report on Business Published August 9, 2008 This week, we saw another independent asset manager bite the dust. It was announced that IGM Financial, through its Mackenzie division, has made an offer to buy Saxon Financial. ...Read More
It's Getting Lonely
Excerpt from Tom Bradley's blog on August 7, 2008
We started Steadyhand last year because we saw an opportunity to work with investors who know what they want, care about fees and are interested in beating the market over the long run. Our target clients make up a tiny ...Read More
What is Baked Into The Cake?
Excerpt from Tom Bradley's blog on July 30, 2008
Over the last month, my conversations (casual and business) have yielded an overwhelming consensus about the market. The consensus is that we are headed for a meltdown in the financial sector, high oil prices are here to stay, and it's ...Read More
Markets Raining on Your Parade? Weatherproofing Tips to Help Avoid a Deluge
Excerpt from Tom Bradley's blog on July 28, 2008
The Globe and Mail, Report on Business Published July 26, 2008 Since my last column, I've been holidaying at the cottage. Normally I disengage from the investment world for these two weeks every year. The message to my partners and ...Read More
