Capital Topics

In this episode of Capital Topics, James Parkyn, François Doyon La Rochelle and Raymond Kerzérho discuss the following portfolio management and financial planning subjects:

• In the news: Should we fear inflation?
• An Update on the tax treatment of your investments – part 2
• Good advice of the day: "Beware of your good investing ideas!"
• Listener's question: What is your opinion about thematic ETFs?"

Links:

Control list Tax season 2020: https://www.pwlcapital.com/wp-content/uploads/2021/03/2.1-PWL-Income-Tax-2020-Authorization-Form-Combine-T1135_New.pdf

In this episode of Capital Topics, James Parkyn, François Doyon La Rochelle and Raymond Kerzérho discuss the following portfolio management and financial planning subjects:

• In the news: Tremors in the bond market
• The tax treatment of your investment portfolio: an update
• The bad advice of the day: ""Buy high-dividend stocks"
• Listener's question: What's your opinion about the new Bitcoin ETFs?"

Links:

Control list Tax season 2020: https://www.pwlcapital.com/wp-content/uploads/2021/03/2.1-PWL-Income-Tax-2020-Authorization-Form-Combine-T1135_New.pdf

Nouriel Roubini articles:

2018

• https://www.marketwatch.com/story/nouriel-roubini-says-bitcoin-is-bullst-and-only-attracts-suckers-2018-05-03?mod=markets_twitter_new
• https://www.marketwatch.com/story/cryptocurrencies-wont-lead-us-to-a-bright-future-theyre-taking-us-back-to-the-stone-age-2018-05-14

2021

• https://www.wsj.com/articles/bitcoin-trades-above-50-000-for-first-time-11613479752?mod=searchresults_pos1&page=1
• https://www.marketwatch.com/story/dont-fall-for-the-bitcoin-bubble-even-the-flintstones-had-a-better-system-warns-economics-professor-nouriel-roubini-11612973303

In this episode of Capital Topics, James Parkyn, François Doyon La Rochelle and Raymond Kerzérho discuss the following portfolio management and financial planning subjects:

• In the news: The Merging with a SPAC, the new exit strategy for VC-backed firms
• Are we in a stock market bubble?
• Good advice of the day: "Avoid selling short"
• Listener's question: "What's the role of small cap stocks in a portfolio?"

In this episode of Capital Topics, James Parkyn, François Doyon La Rochelle and Raymond Kerzérho discuss the following portfolio management and financial planning subjects:

• In the news: The Gamestop phenomenon – What can we learn from it?
• Are tech stocks an asset class?
• Bad advice of the day: "Increase the return on your fixed income securities"
• Listener's question: "Why keep an overweight position in value stocks?"

Links:

Tech stocks dominate the market:

• http://bit.ly/3cKeOjj
• http://bit.ly/3ttHzGL

The Value Premium:

• The Value Premium: Fact or Fantasy?

In this episode of Capital Topics, James Parkyn, François Doyon La Rochelle and Raymond Kerzérho discuss the following portfolio management and financial planning subjects:

• In the news: The emergence of ARK Financial ETFs in the U.S.
• The Value Premium: Fact or Fantasy?
• Bad advice of the day: "Increase the allocation to cash"
• Listener's question: "Once my registered account contributions are maximized, what are the best categories of ETFs for greater tax efficiency and simpler accounting?

Links:

The Value Premium: Fact or Fantasy?

An Exceptional Value Premium

Asset Location and Uncertainty

In this episode of Capital Topics, James Parkyn, François Doyon La Rochelle and Raymond Kerzérho discuss the following portfolio management and financial planning subjects:

• In the news: Our asset class return review as of year-end
• Investment lessons of 2020
• Good advice of the day: "Contribute early to your registered accounts"
• Listener's question: "Considering the high correlation between regional markets and the disappointing performance of the Canadian and international equity markets, should I concentrate my portfolio on U.S. stocks?"

Links:

Market Statistics as of December 31, 2020

Article from the Vanguard Group about the expected returns of U.S. and international stocks

In this episode of Capital Topics, James Parkyn, François Doyon La Rochelle and Raymond Kerzérho discuss the following portfolio management and financial planning subjects:

• In the news: Goldman Sachs merges 5 thematic ETFs. What can we learn from that?
• Evaluating portfolio performance: a roundtable
• Good advice of the day: "Switch to Class D mutual funds"
• Listener's question: "Is it preferable to contribute now to my RRSP or to wait until early 2021?"

In this episode of Capital Topics, James Parkyn, François Doyon La Rochelle and Raymond Kerzérho discuss the following subjects:

• Capital Gain Distributions from Canadian ETFs
• Private equity funds
• The good advice of the day: Year-end tax planning (part II)
• Listener's question: What are the consequences of excess contributions to a TFSA?

Links:

Capital gain distribution estimate announcements:

• BMO
• Vanguard

The Enterprising Investor: Myths of Private Equity Performance (Part I)

When More is Less: Investment Lessons from U.S. Endowments

In this episode of Capital Topics, James Parkyn, François Doyon La Rochelle and Raymond Kerzérho discuss the following subjects:

• Canadian banks launch a new type of bonds
• The "Active-Passive Barometer" report from Morningstar
• The good advice of the day: Year-end tax planning part 1
• Listener's question: What's the best geographic allocation across Canadian, U.S. and international equity?

Links:

Tax-loss selling - How to avoid superficial losses: https://bit.ly/32FIusb

Vanguard document about the home country bias among Canadian investors: https://bit.ly/36NeYC7

In this fourth episode of Capital Topics, James Parkyn, François Doyon La Rochelle and Raymond Kerzérho discuss the following subjects:

• In the news: the flurry of "blank cheque" IPOs (Special Purpose Acquisition Corporations or "SPACs") in the U.S.
• Indices underlying Asset Class ETFs are not all the same: make sure to always understand the underlying securities and indexing methodology.
• The bad advice of the day: « Buy Small and Mid-Cap Healthcare stocks »
• Listener's question: "How do I, as an individual investor, replicate the investment strategies implemented by the large Canadian Pension Plan Models?