Category Archives: Economics & Fundamentals

What Does Market Valuation Tell Us About Future Returns?

You have probably heard from me and others that the US market is overvalued. You have also probably heard (from others) that since interest rates are so low, the market deserves a higher valuation. One of my favourite investment managers (GMO – Grantham, Mayo, &

Assessing the Risk of a Market Correction

We finally saw a bit of volatility last week ignited by the tough talk between Trump and North Korea. Will this be the catalyst to ignite the next material market decline? Reading the “Tape” is not for everyone. It’s a skill that is fraught with

How Should You Use Gold In Your Portfolio?

The most important portfolio factor for many investors is diversification. Lowering portfolio risk while generating yield is something that every investor should strive for. One asset class that engenders a multitude of emotions but has no yield is precious metals and gold in particular. Gold

Webinar Replay: Smart Portfolios with Larry Berman

For those of you who missed Larry’s webinar on June 29th, or missed The Investor’s Guide to Thriving series this past spring (or if you attended but just want to see the presentation again) you are in luck! Below you will find a link to

Why 4% Growth is a Thing of the Past

Adam Smith wrote in the Wealth of Nations that people would get bored of monotonous, repetitive labour. There is good news and bad news. The good news is that Robotics and Artificial Intelligence will likely take most of the boring monotonous jobs. The bad news

A Look at Why The Federal Reserve is Bad for America

Last week we looked at the meaning behind the flattening yield curve. Despite the fact that the Federal Open Market Committee (FOMC) raised rates last week and was more hawkish than expected, longer-term bond yields actually declined versus the conventional wisdom that tightening Fed policy

Chinese Credit Risk Rising

The bull market from 2003 to 2007 was led by dramatic growth in US housing and dramatic growth in China. The Chinese boom drove the demand for commodities and was the major catalyst in the previous cycle. A few weeks ago, Google (GOOGL Alphabet) surpassed