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Navigating the Journey: Seven Investing Pitfalls
“It’s good to learn from your mistakes. It’s better to learn from other people’s mistakes.” — Warren Buffett While we can learn much about successful investing by studying the best investors, there may be valuable lessons learned by examining our mistakes. The CFA...
Perspectives on Retirement Saving & Spending
“Chances are you will be the happiest you have beensince you were a teenager.” According to an article in the popular press, this is what many of us can anticipate in retirement.1 If you’re retired, perhaps you concur. If retirement is still on the horizon, the...
SUMMER BRINGS HOME-BUYING SEASON
FHSA or HBP: Reasons to Prioritize the FHSA As a result of the federal budget increasing the withdrawal amount for the Home Buyer’s Plan (HBP), some clients have asked which plan is better for younger family members: the First-Home Savings Account (FHSA) or the HBP,...
Market Insights by James Thorne: Trump’s Trade War
America’s Imperial Twilight or Dawn of a New Golden Age? A Non-Consensus Call for Interest Rates to be “Lower for Longer" Download this PDF here. The Rise and Fall of the American Empire Tales of empires are as old as civilization itself. From ancient...
Cultivating Financial Habits From a Young Age
“The best way to teach your kids about taxes is by eating 30 percent of their ice cream.” — Bill Murray, Comedian While repeated in jest, this witty remark highlights an important truth: teaching children about financial responsibilities early on can have lasting...
A BRIEF LOOK AT INDICES
Does the Dow Matter? What’s in an Index The Dow Jones Industrial Average (DJIA or Dow) is one of the most widely watched stock market indices and the second oldest in the world. Created in 1896 by Charles Dow, then-editor of the Wall Street Journal, it originally...
WHAT’S BEHIND OUR INCREASING EXPENDITURES?
Three Perspectives on Our Higher Cost of Living With higher inflation, the increasing cost of living has been top of mind for many Canadians. While there has been good news on the inflation front given continuing signs of easing, here are three perspectives on our...
Market Insights by James Thorne: Trump’s Fiscal Frenzy
Godfather of Modern Monetary Theory Warns of “Drunken Sailor” Spending “Neither a borrower nor a lender be; For loan oft loses both itself and friend, and borrowing dulls the edge of husbandry.” – William Shakespeare, Hamlet Download this PDF here. At this very...
Live Long & Prosper: Better Health, Better Wealth
Many of us remember the classic Star Trek mantra ‘live long and prosper,’ which may be worth reflection as we enter the leisurely summer months. The keys to a longer and more prosperous life are often rooted in fundamentals that include both health and wealth. Better...
Dow at One Million?
When the Dow Jones Industrial Average (Dow) crossed a new high of 40,000 in May, it achieved a milestone that appeared implausible given recent popular sentiment. Just two years earlier, central banks were still on the path of aggressively hiking rates to curb...
Increasing Capital Gains Inclusion Rate: Planning for the Cottage or Cabin
Welcome to the summer — and the return of cottage and cabin season! While many of us are eager for some rest and relaxation, cottage and cabin owners may face new concerns due to increases to the capital gains inclusion rate. Looking ahead to when the property is...
Market Insights by James Thorne: NAVIGATING THE DUAL REVOLUTIONS
AI’s Underestimated Truth and the Coming Fiscal Storm Mark Twain once delivered a sobering reminder of humanity’s tendency to disregard transformative ideas while allowing misconceptions to persist. As we stand on the precipice of two seismic shifts—the AI revolution...
INCREASES TO THE CAPITAL GAINS INCLUSION RATE
To Defer or Not to Defer: Realizing Capital Gains The proposed* increases to the capital gains inclusion rate have prompted some investors to ask the tax-planning question: To defer, or not to defer? Tax deferral is commonly viewed as a way for investors to create...
The Power of Economic Sentiment
“Have we all just become economic snowflakes?”1 This question emerged from a recent study analyzing the text of 200 million newspapers spanning almost two centuries. It concluded that both economic and non-economic sentiment have substantially declined over the past...
FACTORS IMPACTING THE CPP TIMING DECISION: More Perspectives on When To Start CPP Benefits
When it comes to the decision of when to start Canada Pension Plan (CPP) benefits, actuarial studies show that many are better off delaying benefits since the break-even age* commonly falls below our average life expectancy. Living beyond the break-even age means that...
Your Digital Footprint: Don’t Overlook Its Value
In estate planning, many of us tend to focus on assets with tangible value, such as investments and real estate. Yet, frequently disregarded are many digital assets due to their perceived lack of monetary value. However, a Wall Street Journal article reminds us that...
Market Insights by James Thorne: THE GRAND CHESSBOARD
Navigating Geopolitical Investments In the grand geopolitical game, it’s not always the most powerful states that hold sway, but often those positioned in critical locations. Their vulnerability can significantly impact the strategies of the world’s power players. –...
Unlocking High Net-Worth Financial Solutions with National Bank’s Private Banking 1859
https://youtu.be/sTnE3gmF2E4 Discover the exclusive world of National Bank's Private Banking 1859. In this episode of Small Convos, we dive into the services and benefits of private banking, tailored for high net-worth individuals. Learn from Senior Private Banker...
BE AWARE OF NEW REPORTING RULES: Are You Associated With a “Bare Trust” Arrangement?
Are you a legal owner of an asset where someone else is a beneficial owner and has a beneficial interest and oversight of the asset? I f so, you may be holding a “bare trust” and have a filing requirement where you previously did not. Here are some examples where a...
Thinking Beyond Retirement: A Higher Purpose
It has been said that “if you are what you do, when you don’t … you aren’t.” As you think ahead, have you contemplated a plan for what you will do in retirement? Many of us plan by working hard, saving consistently and investing for the future to ensure a financially...
Have U.S. Equities Become Overvalued?
With the rapid rise in the “Magnificent 7” stocks to start the year, there has been renewed discussion over whether U.S. stocks are becoming overvalued. What has been driving these returns? Stock prices are driven by a variety of factors. In a perfectly efficient...
Market Insights by James Thorne: Out Of Options
Navigating An Era Of Fiscal Dominance, Rate Cuts And Debt Monetization Those who fail to learn from history are condemned to repeat it. – Sir Winston Churchill The Ghost of Arthur Burns U.S. Federal Reserve Chair Jerome Powell, deeply mindful of Arthur Burns’ missteps...
Embrace the monsters of today’s financial world
Embrace the monsters of today’s financial world,” Dr. James Thorne tells investors who are navigating through a period of immense structural change and adjustment. Learn why in his April hashtag#MarketInsights here: https://bit.ly/3J0d6t9 hashtag#Investing...
TAX SEASON IS HERE AGAIN: A Reminder of How Interest Income Is Taxed
With rising rates, there has been increasing interest in guaranteed investment certificates (GICs). Now that tax season has arrived, here is a reminder of their tax treatment, as well as the taxation of bonds. The taxation of GICs — GICs are often “locked in” and...
Spring Cleaning Finances: Five Questions To Ask
Now that spring has sprung and many of us are in spring cleaning mode, perhaps you are looking for a bit of motivation when it comes to your finances. Here are five wealth planning questions that may be answered by simple “rules of thumb.” These may spark meaningful...
GREENSPAN’S GAME OF THRONES: Navigating the Monsters and Bubbles of Today’s Transformative Economy
Now is the Time of Monsters We are at a pivotal moment in history, one that former U.S. Federal Reserve Chairman Alan Greenspan might liken to a historical juncture, where the intertwined narratives obscure the uniqueness of our era. As we contend with a world that...
Reminders for Tax Season
It is personal income tax season once again. Given increasing interest rates, don’t overlook the importance of filing your taxes and paying balances and instalments on time, as interest assessed on insufficient payments can be significant. Tax Filing Deadlines — The...
A TAX EFFICIENT ALTERNATIVE TO GICs: CONSIDER THE BENEFITS OF DISCOUNTED BONDS
Given the rise in interest rates since the start of 2022, there has understandably been greater interest in low-risk, fixed-income investments like Guaranteed Investment Certificates (GICs). While investors can take advantage of rates not seen in decades, it is...
HIGHER FOR LONGER INTEREST RATES? HISTORICAL PERSPECTIVES ON THE EQUITY MARKETS
Since the summer, bond yields have risen rapidly. In April, the U.S. 10-year Treasury yield hovered around 3.3 percent; by October, it had risen to 5 percent for the first time in 16 years. This is a substantial increase in just six months. Many market observers...
INVESTMENT TACTICS DURING UNCERTAIN TIMES
After a volatile 2023 in the financial markets, one of the by- products has been that some investors feel inclined to take a more conservative investment stance. How can this be achieved? Selling all of your stocks and holding cash equivalents is one extreme...
September Market Insights: The Fed’s High-Wire Act
Discretion is the Better Part of Valour “We are navigating by the stars under cloudy skies.” – Chairman Jerome H. Powell, August 25, 2023 Download this PDF here. The adage, “Discretion is the better part of valour,” has never been more pertinent as the U.S. Federal...
August Market Insights: Unveiling The Crystal Ball
A Glimpse Into The Future Of Financial Markets From 2024 To 2030 Download this PDF here. In early 2021, I presented a thesis regarding the latest inflation episode and its potential economic implications. At that time, I shared a perspective that differed from the...
Wall Street Is About To Embrace Crypto, And It’s Not What You Think!
A New Era Is Upon UsDownload this PDF here.“Nothing is more powerful than an idea whose time has come.” – Victor HugoThere is an old saying, “never let a good crisis go to waste.” And true to form, Wall Street is capitalizing on the current chaos within...
June Market Insights: Is AI The Next Goldrush?
Terminator vs. R2-D2Download this PDF here.Hollywood and Artificial Intelligence (AI): The Emotional Scars Are With Us TodayIn the movie Terminator, a dystopian society is under attack by artificially intelligent robots that are hell bent on the...
May Market Insights: The FTX Fiasco Has Nothing To Do With Blockchain Adoption.
Huckleberry Finn Is Not Tom Sawyer. Download this PDF here. “Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.” — Alan Greenspan When one thinks of blockchain, one quickly thinks of Bitcoin, NFTs, and cryptocurrencies. Just as so...
Market Insight: April 2023 – Dr. James Thorne, Ph.D., Chief Market Strategist
This year’s federal budget proposed a new tool intended to help support new home buyers. Expected to begin in 2023, the First Home Savings Account (FHSA) is a registered plan that combines the tax benefits of the RRSP and TFSA. The FHSA will allow Canadian...
March Market Insights: Fire and Ice – The Fight Between Inflation and Deflation
“Some say the world will end in fire, some say ice. From what I’ve tasted of desire, I hold with those who favor fire. But if it had to perish twice, I think I know enough of hate to know that for destruction, ice is also great and would suffice.¹”What’s a More...
February Market Insights: Apocalypse Delayed – The U.S. Debt-Ceiling Debate
“It’s never paid to bet against America.” — Warren BuffettWhat if the US Government Defaults on its Debt? If the U.S. was to default on its debt obligations, it would cause investors to flee from U.S. Treasuries, leading to a decrease in confidence in U.S. government...
The 2023 Market Forecast – The Pause that Refreshes
“All models are wrong. Some models are useful.” — George E. P. Box, statistician “Patience is a form of wisdom,” notes Jon Kabat-Zinn, creator of the Stress Reduction Clinic and the Center for Mindfulness in Medicine at the University of Massachusetts Medical School....
September Market Insights: Waiting for Godot and passing the peak sagitta of the inflation and rate expectation arcs in 2022
Waiting for Godot and passing the peak sagitta of the inflation and rate expectation arcs in 2022 Waiting For Godot is Samuel Beckett’s portrait of the human condition in limbo. The play is about two men, Vladimir and Estragon, who are waiting for another man called...
July Market Insights: The Fed & Its Use of Economic Coercion: This is Not Coin-Flip Policymaking
With new declarations by Chairman Powell that “overall economic activity appears to have picked up,” after its aggressive actions in June to increase interest rates by 75 bps at a time when global economies are slowing, investors may be easily confused. Yet, there may...
The Fed: From Tragedy to Rebirth? Just Follow the Path of the Credit Markets
The first half of 2022 has supported the consensus narrative of “tragedy” that has dominated the financial markets. Indeed, the market pullbacks to start the year have been intense. However, a closer look at the credit markets suggests a changing dynamic. The Fed...
Uncertain Times: Defensive Strategies for Investors
“The desire to perform all the time is usually a barrier to doingwell in the long run.” — Howard Marks With slower economic growth, an evolving tariff situation and rising geopolitical uncertainty, many investors may be looking at ways to take a more defensive stance...
The Value of an Investment Plan
“Any sound long-range investment program requires patience and perseverance. Perhaps that is why so few investors follow any plan. Investment success is the purpose of investment planning; but a by-product of a good plan is peace of mind.” — John Templeton It’s worth...
The Evolving Trade War: Is a Recession Looming?
When the U.S. launched a trade war in January, many were quick to warn of a possible recession. With Canada’s economy already growing at a sluggish pace—GDP growth is projected at just 1.8 percent for 2025—the Bank of Canada estimated that a blanket 25 percent tariff...
Investing Resolutions
Resolve to Review Your Will If you are looking for a financial resolution to start the year, why not make estate planning a priority? Every so often we hear stories about the consequences of not having a valid will. To die without one, known as dying “intestate,” can...
Buffettology
To a Trillion & Beyond... Warren Buffett, known as the “Oracle of Omaha,” is one of the most iconic investors of our time, and, arguably, the most successful investor alive today. At 94 years old, he ranks as the sixth richest person in the world on Forbes’ 2024...
Safeguard Your Finances Against Fraud
As we enter a new year, why not resolve to better protect your financial security? Financial fraud continues to be on the rise and scams have become increasingly sophisticated. Scammers continue to seek financial gain by stealing identities, accessing login details,...
PORTFOLIO MANAGEMENT
Portfolio Rebalancing: Four Additional Benefits Rebalancing a portfolio involves adjusting the allocation of assets to bring it back in line with your original investment strategy, ensuring it remains consistent with your risk and return profile. Why is this...
Federal Government Defers Capital Gains Inclusion Rate Increase to 2026
Download this PDF here. The Minister of Finance and Intergovernmental Affairs, Dominic LeBlanc, announced that the federal government will postpone the implementation of the proposed increase to the capital gains inclusion rate—from one-half to two-thirds. Originally...
DEBUNKING THE MYTHS
Investing After Periods of Strong Market Returns “The strongest of all warriors are these two: Time and Patience.”— Leo Tolstoy Following the notable gains in both Canadian and U.S. equity markets in 2024, some investors may feel hesitant about the prospect of...
Back to the Future?
As an investor, wouldn’t it be great to travel back in time 30 years to alter the course of the future? Knowing what you know now, would you choose to do things differently?1 It may be surprising to recall how the world has changed in three decades. Back in 1995, the...
Biggest Economic Shift in 50 Years Dr. James Thorne’s Bold Predictions for 2025 | Smoking Bulls Podcast
🌎 The Biggest Economic Shift in 50 Years! 📈 In this compelling episode of Smoking Bulls, we dive deep into the unprecedented economic and political pivots reshaping the global landscape with Dr. Jim Thorne, Chief Market Strategist at Wellington Altus. From U.S. energy...
A New Year Check-In
Has Your (Or Your Family’s) Health Status Changed? As we enter a new year, if your or a family member’s health status has recently changed, it may be an opportune time to explore whether this could unlock access to valuable financial support. Many people are unaware...
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