Today we are joined by a friend, hero, and a legend in the field fact based investing. Larry Swedroe is here to discuss his latest book, some of the timeless concepts he has been espousing for many years, and to give out a few golden nuggets of advice for your finances and retirement. Larry is so generous with his time and wisdom and we chat about a ton of chapters from his book, Your Complete Guide to a Successful and Secure Retirement, and he picks out a few ideas to focus on here in this quick discussion. Larry shares the biggest mistake he has noticed in retirement planning, lifestyle considerations moving into the final stages of life, estate transfer, underperforming stocks, and more! We draw on Larry’s wealth of experience to get some perspective on more current trends in the industry such as the fixation on costs of advisors and we finish off hearing from Larry about how he defines success as he nears the end of his professional career. For all this and more, be sure to join us for an extra special episode!

Key Points From This Episode:

• The four horsemen of the retirement apocalypse. [0:03:03.4]
• Larry’s pick for the biggest mistake made in retirement planning. [0:06:32.9]
• Non-financial considerations for those heading into retirement. [0:09:22.7]
• Day to day preparations for finding meaning in the retirement years. [0:13:04.5]
• Why it is important to expose yourself to independent risk factors. [0:15:34.6]
• Understanding the reasons for never actually avoiding factors. [0:26:53.9]
• How to avoid losing assets during the transfer of an estate. [0:29:16.4]
• Taking underperformance into account when considering your investments. [0:32:58.3]
• Looking at the financial industry’s shift in focus towards costs. [0:37:06.1]
• Larry’s own definition of success moving into the end of his career and retirement. [0:41:55.1]
• And much more!

For more information or to contact Cameron and Ben, visit pwlcapital.com

Welcome back to The Rational Reminder Podcast! Today we are riding solo with no guests and just going over some recent developments, in-house news, and gearing up for some more great shows in the pipeline. We have had so many amazing guests recently, talking on a number of specific topics, so we thought we would take this opportunity to clean the mailbox, as it were, and set the table for the next few weeks. During the episode we cover the new partnership between RBC and iShares and what this means going forward and we also look at the state of ETFs and how much they have grown in the last few years. We talk about the impetus to go to cash that many investors and advisors seem to be considering and also discuss global diversification and how this is the truest representation of a belief in capitalism. We talk data, advertising, tax and the supposed market monopolies that the biggest companies in the world have right now. For all this and more, be sure to join us!

Key Points From This Episode:

• We are hiring! [0:01:40.0]
• The new alliance between RBC and iShares. [0:02:23.3]
• The growth for ETF in comparison with mutual funds. [0:05:31.9]
• Does it make sense for long term investors to go to cash? [0:06:14.7]
• Globally diversified investments in international markets. [0:08:30.2]
• Are we living in a winner takes all market right now? [0:14:36.4]
• How data has overtaken oil as the most valuable resource. [0:20:54.2]
• CPPIB’s controversial advertising strategies. [0:23:50.6]
• A few quick tax updates. [0:26:30.6]
• And much more!

For more information or to contact Cameron and Ben, visit pwlcapital.com

Today on the podcast we are very excited to welcome Brad Steiman who is the Canadian Head of Financial Advisor Services for Dimensional! This is an episode we literally cannot wait to share with our listeners as it is jam packed with really useful information, history, and inside scoops on Dimensional and what has helped them get to where they are today. As huge fans and associates of DFA this is the type of conversation we have been hoping to have for quite some time and hope you are as excited as we are. In our discussion, we cover Brad’s early career and how he became involved and employed by Dimensional. From there, Brad gives us some great insight into the important early events that shaped his and the companies trajectories as well as laying out the vital characters in DFA’s story. We also get into some of the ideas and the ethos that underpins the work done at the company, particularly around research, findings and implementation. For all of this and host of other interesting subjects be sure to join us for this episode!

Key Points From This Episode:

• Brad’s initial attraction to working at Dimensional. [0:01:45.5]
• The college years and the following epiphanies. [0:02:37.9]
• Why Brad did not look at his early paychecks at Dimensional. [0:06:29.3]
• How David Booth preempted the evidence-based approach. [0:08:53.1]
• Dimensional’s continual approach to new research and data mining. [0:14:55.5]
• The criteria Dimensional apply when assessing findings. [0:17:26.9]
• Brad and Dimensional’s philosophy when it comes to stock momentum. [0:20:41.1]
• The implementation strategy at Dimensional. [0:25:51.1]
• ETFs versus mutual funds and Dimensional’s decision in this battle. [0:28:05.1]
• Dimensional’s unique approach to working with the advisor community. [0:30:51.5]
• Three of Brad’s favorite stories from his time at the company. [0:32:49.6]
• Brad’s science based approach to happiness! [0:37:34.1]
• And much more!

For more information or to contact Cameron and Ben, visit pwlcapital.com

In this episode of the Rational Reminder Podcast we welcome Robin Powell. Robin is a journalist and content creator who has dedicated the more recent part of his career to helping spread the word on research backed investing and turning the tide on the history of investment advice. For Robin, this all came about from an assignment he was working on and the feeling of shock he experienced when he discovered the wealth of information that is available to investors but how it is shielded by the majority of investment advisors. Robin explains these experiences and why we still see this in today’s marketplace. He chats to us about the films he has produced on the subject and the great characters and thought leaders with whom he has met. Robin is kind enough to open up about his thoughts on the future of investing, regulation and his hopes for the spread of this information. For all this and more, be sure to join us!

Key Points From This Episode: 

• Some of Robin’s background and previous work experience. [0:01:40.6]
• Why Robin started spreading the evidence based investment message . [0:02:38.9]
• The experience of speaking with industry leaders to make a documentary film. [0:04:07.7]
• The impact of this and the subsequent films Robin has produced. [0:05:44.0]
• Robin’s perspective on the Canadian financial industry. [0:06:57.8]
• The impact of the change of rules for financial advisors in the UK. [0:09:21.6]
• The effect of RDR and claims about reduced access to advice. [0:12:24.2]
• Difficulties in sharing information and changing people’s minds. [0:15:06.0]
• The role of the press in this dynamic and whether it can change [0:16:52.2]
• Robin’s favorite interviews and encounters over the years. [0:18:07.4]
• Looking to the future of the financial industry. [0:19:53.5]
• Considering the role of the human financial advisor with the rise of robo-advisors. [0:21:40.1]
• Robin’s own measure of success in his work [0:22:59.9]
• Regulation in the pursuit of changing the approach of advisors. [0:24:28.9]
• And much more!

For more information or to contact Cameron and Ben, visit pwlcapital.com

Welcome to this holiday edition of the Rational Reminder Podcast. Today on the show we have a special treat for you. A little while back, Cameron made an incredible connection with our guest, David Goetsch. David is a writer and the Co-Executive Producer of the Big Bang Theory. David himself subscribes to our investment philosophy and he is passionate enough about it that he speaks about it at conferences every now and then. He is truly a fascinating guy and the impact that this investment philosophy had on him is unreal. Inside this episode David shares with us how he used to a be a self-described worrier who worried about every little thing in his life. But once he had his eyes opened up to this philosophy, it changed him forever. He now embraces uncertainty, he embraces risk, he is not worried about his portfolio at all, and it has given him a great amount of peace in his life. For an incredible conversation with an absolutely changed man, stay tuned to hear it all!

Key Points From This Episode:

• How David’s financial advisor changed his entire life. [0:02:46.3]
• What it means to become a transformed investor. [0:08:32.1]
• The greatest impact that David’s philosophy had on his life. [0:10:19.7]
• David’s relationship with his financial advisor; meetings, and guidance. [0:14:03.6]
• How to think about the fees you pay your financial advisor. [0:16:11.1]
• David’s miscalculation of risk in his life; moving to Hollywood. [0:22:36.0]
• The journey of David’s career as writer in Hollywood. [0:27:17.3]
• Schedule and writing process of the Big Bang Theory. [0:34:23.1]
• How David defines success and happiness in his own life. [0:37:43.0]
• The story of when David got check 1 of 104 from Big Bang Theory. [0:39:51.8]
• And much more!

For more information or to contact Cameron and Ben, visit pwlcapital.com

This week on the podcast we are starting to wrap things up for the year, doing some house keeping and looking back at recent trends in the market. First of all we talk a bit about the podcast going forward and have a few comments on ratings and reviews. We also look at some of the upcoming content you can expect early next year! We chat about the client survey we recently held and what the data from this tells us. From there we move into more general information on the relationship between risk and profitability and try and explain why they are so closely linked. We also get into the market’s performance this year and the apparently bad year it has had. This exploration is located in the broader context of historical data and evidence based investing strategies and we try our best to show how a bad year like 2018 is not a reason to be reactive in you investments. For this and more, join us today!

Key Points From This Episode:

• The first critical review of the podcast. [0:01:52.3]
• Some of the upcoming content for the new year. [0:02:52.0]
• The recent client survey which we completed. [0:04:56.3]
• Interesting data that we collected during this survey. [0:07:02]
• The blog post from Michael James about our chat with Glenn Cooke recently. [0:08:57.8]
• How is being profitable riskier? [0:12:39.9]
• Behavioral explanations for factors and market timing. [0:15:10.7]
• The market this year and how it has dipped. [0:16:13.3]
• Comparing this year’s downturn with 2008. [0:17:38.6]
• This generation’s investors and risk seeking. [0:21:04.7]
• Understanding standard deviation in this context. [0:22:58.3]
• The potential impact of social media on markets compared to 2008. [0:26:02.4]
• The human bias towards action when in danger. [0:27:12.8]
• Don’t leave your seat to get a hot dog! [0:29:04.2]
• And much more!

For more information or to contact Cameron and Ben, visit pwlcapital.com

Welcome back to The Rational Reminder Podcast. Today, Benjamin is getting the factor fill off his chest. We are diving into a range of topics and we are talking about other factors or how far you can push the evidence. This is the first time in a while that we’ve really dug into factors. We cover other interesting topics like increasing CPP benefits, we talk about our regulatory bodies and the debate going on there, as well as the big news around Vanguard. It’s a fun debate and a  good conversation. So, keep listening to hear more!

Key Points From This Episode:

• How CPP is expanding in 2019. [0:01:48.0]
• Advocis putting the business interest of financial advisers before clients. [0:05:0]
• The rumor circulating about Vanguard. [0:10:22.0]
• A none story - How asset owners are falling out of love with index funds. [0:13:00]
• Why the rich aren’t happy, why more money does not make people happier. [0:15:44.0]
• Factors of a way to beat the market and why factors work. [0:17:38.0]
• Factor regression on portfolios. [0:22:46.0]
• Long versus short stock picking. [0:27:43.0]
• And much more!

For more information or to contact Cameron and Ben, visit pwlcapital.com

Welcome back to The Rational Reminder Podcast. Today we are joined by Glenn Cooke. Glenn is a fixture on the personal finance Canada sub-Reddit and spent many years as the President of Lifeinsurancecanada.com, which is an online platform for insurance information. Today, Glenn is the President of Insurance Squared where he works with market research departments at life insurance companies and shows life insurance agents how to generate leads online and sell non-face to face. Glenn has a very matter of fact, rational approach to insurance and that’s what we talk to him about in today’s episode. He shares with us about the mistakes he commonly sees in insurance, especially the fact that most people way under buy the amount of life insurance that they truly need. Glenn also describes permanent insurance, what it is, when it makes sense and what situations it is best suited for. We hear about when it’s important to use investments versus not and as long as consumers stick to those basic rules, it’s hard to go astray. So for an incredible interview, keep listening to hear more!

Key Points From This Episode:

• Over the phone and online - why that approach worked so well for Glen. [0:02:24.0]
• Understanding field underwriting. [0:03:17.0]
• Why some people are hesitant buying insurance online and prefer in person. [0:06:27.0]
• Most common questions people are asking when buying insurance. [0:07:27.0]
• Mistakes people are making when buying life insurance. [0:07:56.0]
• Justifying how much you need. [0:09:31.0]
• How disability insurance ties in very closely to life insurance. [0:10:34.0]
• Settling for group disability insurance through your employer. [0:13:23.0]
• What is permanent life insurance and where would it make sense. [0:15:25.0]
• Two general categories of permanent insurance. [0:19:30.0]
• Glen’s views on critical illness insurance. [0:21:0]
• Three ways you can use life insurance. [0:25:46.0]
• Ways you can get money out of your insurance policy. [0:28:08.0]
• Glen’s observation about financial literary in Canada. [0:32:05.0]
• And much more!

For more information or to contact Cameron and Ben, visit pwlcapital.com

In this bonus episode we briefly talk about the yield curve, and why it’s probably not going to hurt you. With special guest Robert Little, Wealth Management Analyst at PWL Capital.

For more information or to contact Cameron and Ben, visit pwlcapital.com

Welcome back to The Rational Reminder Podcast. Today we are joined by Daniel Weinand. Daniel is the cofounder of Shopify, which is a company based in Ottawa that has had enormous success, not just in Ottawa or Canada, but all over the world in the last few years as a public company. Shopify is a great commerce platform that supports over 600,000 different stores worldwide. It is an incredible success story, and the best way that we can describe the conversation was that it was very intense. Everything from the way Daniel thinks about things to what he’s been able to achieve comes down to his intensity, and you can actually see the wheels turning in his head while he speaks. So for an incredible interview, keep listening to hear more!

Key Points From This Episode:

• How Daniel chose Canada and got involved in Shopify. [0:02:13.0]
• Decisions that were transformational for the company. [0:04:21.0]
• Daniel’s transition into retirement from Shopify. [0:06:07.0]
• The role of happiness and self-fulfillment. [0:10:18.0]
• The beauty of poker — a game of incomplete information. [0:11:19.0]
• Creating a company culture. [0:19:16.0]
• The impact financial security has on productivity and engagement for employees. [0:25:04.0]
• How Daniel defines success. [0:26:25.0]
• Why Daniel chose to work with PWL. [0:29:41.0]
• The impact of money in Daniel’s life. [0:33:50]
• And much more!

For more information or to contact Cameron and Ben, visit pwlcapital.com