Blog: Cutting Through the Noise
Postings
Steady Freddie. Stanley's Coming.
Excerpt from Tom Bradley's blog on June 8, 2011
A 7-game playoff series is a unique animal. It’s a roller coaster ride with potential mood swings after each game. It reminds me a lot of investing actually. As I sit here with my Canucks jersey on, I feel like the boring realist. I’ve celebrated each victory and got pissed off after each loss, but in between, I've refused to get too caught up in the hyperbole. I've found myself in a few conversations that go...
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How Seasoned Managers Stack Up Against the Up-and-comers
Excerpt from Tom Bradley's blog on May 27, 2011
“What I find of particular interest is the speed at which changes in communication technology are happening. It’s causing a great intergenerational knowledge gap, which is rather worrisome because many decision makers are still part of my old-fart...Read More
Cracks Appear in the ETF Halo
Excerpt from Tom Bradley's blog on May 13, 2011
Personal disclosure: I’m a dyed-in-the-wool active manager, but admit to having used exchange-traded funds in my portfolio. I’ve tread on the dark side for tax planning purposes and, occasionally, to hedge certain long-term positions. I also must...Read More
Are Client Returns Secondary?
Excerpt from Tom Bradley's blog on May 4, 2011
There was news today that two private equity firms, Berkshire Partners LLC and OMERS Private Equity, are buying Husky International from Onex, another private equity company. This secondary buyout (defined as one private equity firm buying a company...Read More
An Election Platform for Better Investing
Excerpt from Tom Bradley's blog on April 29, 2011
I’ve enjoyed watching the federal election campaign, but that’s where it ends. It will have no impact on markets (for more than a day), and my interest in being a public official has never been lower (it’s a brutal job). The office I’m interested in running for, however, is...Read More
Canadians Are Cash Rich
Excerpt from Tom Bradley's blog on April 27, 2011
In this space, we’ve talked often about the conundrum cash-rich investors face. If they’ve been out of the market, or are sitting on a high proportion of cash, what do they do? This week there were some comments from Earl (the Pearl) Bederman at Investor...Read More
Cross Country Customer Experiences
Excerpt from Tom Bradley's blog on April 25, 2011
How’s this for two totally different customer experiences. Recently I went into Sigge’s, a local cross-country ski store, to buy some equipment. I’ve been a ‘classic’ skier for years, but am increasingly feeling the pressure to keep up with my ‘skate skiing...Read More
145 and Counting
Excerpt from Tom Bradley's blog on April 19, 2011
On the plane yesterday I was scanning the list of Canadian exchange-traded funds (ETFs). There were 145 funds on the list from four providers (BMO, Claymore, BlackRock and Horizons BetaPro). I know the numbers are higher now because I...Read More
Look for Good Money Managers When They're Down
Excerpt from Tom Bradley's blog on April 15, 2011
Value managers make a habit of scanning the 'new lows' list on the stock page. They’re hoping to find good companies that have stumbled and are oversold. Buyers of the funds run by those same managers, however, rarely do that. They most often go for the...Read More
Mortgaging Who's Future?
Excerpt from Tom Bradley's blog on April 7, 2011
Irony n. incongruity between what might be expected and what actually occurs. My brother-in-law and I have an on-going banter going over the usage, or should I say incorrect usage, of the word irony (I lose regularly). Waking up this morning to an...Read More
It's Gross
Excerpt from Tom Bradley's blog on April 4, 2011
As managing director of a firm that manages US$1.2 trillion, Bill Gross’ words carry a lot of weight. Indeed, we blog on his writings often. In his April letter, he closes with a tight and powerful summary: “I am confident that this country [U.S.] will default on...Read More
A Coffee Shop Education in Investor-speak
Excerpt from Tom Bradley's blog on April 1, 2011
In Toronto last week, I was waiting for a friend at my Starbucks office. As I browsed the Sports section, I couldn’t help but overhear a nearby conversation between two investment types. The checked shirt was leading the discussion. “My overweight in...Read More
