The Wealth Exchange

 As it is a new year, The Wealth Exchange brings a special 2019 predictions episode, and a look back on 2018. Rob Edel, Nicola Wealth Management’s Chief Investment Officer, joins Mark Therriault to look back on all the changes in the markets, as well as investing in 2018. Rob also discusses his 2019 predictions of what’s to come in investing, portfolios, and the markets.

Rob and Mark discuss some of the exciting changes to the podcast going forward, Nicola Wealth’s investment philosophy, the benefits of diversification (in regards to portfolios), and why Cash Flow investing is greatly beneficial going into the new year.

Key Takeaways:

[:29] About today’s episode.

[1:30] Mark and Rob review major headwinds in 2018 for markets and investing.

[5:22] Rob’s predictions and outlook for 2019 for markets and investing.

[8:12] Outlook for 2019 from Canada’s standpoint.

[11:03] Rob summarizes his outlook for 2019.

[11:53] When looking at client portfolios (and his own), what types of assets is Rob looking to rebalance?

[13:26] Nicola Wealth Management’s investment philosophy and the benefits of diversification (in regards to portfolios).

[19:57] Why Cash Flow investing is greatly beneficial.

Guest Bio

Rob Edel

Rob is the Chief Investment Officer at Nicola Wealth Management.

Before joining the team at Nicola, Rob spent 9 years working for one of Canada’s largest money managers and — most recently — as a Portfolio Manager responsible for managing U.S. equities for the firm’s high net worth clients. Previous to that, he spent seven years working for the Treasury Department of a Major Canadian Chartered Bank, splitting his time between Vancouver and Toronto. Rob has completed his CFA and is a member of the Association for Investment Management and Research (AIMR).

For his full bio, visit: nicolawealth.com/our-team/rob-edel

About Your Host — Mark Therriault

Mark is the Financial Advisor and partner of Nicola Wealth Management — and your host for The Wealth Exchange podcast.

As a member of the NWM Planning Team since 2006, Mark has become his clients’ trusted advisor. He prides himself on providing an exceptional experience to his clients while quarterbacking their financial affairs.

Mark earned his Bachelor’s degree in Economics with a minor in Finance from the University of Calgary. He went on to secure his CFP designation and also completed the CIM, CSC, the B.C. Life Insurance License.

For his full bio, visit: NicolaWealth.com/Our-Team/Mark-Therriault

For More Information on this Week’s Episode, Visit:

www.NicolaWealth.com/TheWealthExchange

Disclaimer:

This presentation contains the current opinions of the presenter and such opinions are subject to change without notice. This material is distributed for informational purposes only and is not intended to provide legal, accounting, tax or specific investment advice. Please speak to your NWM Advisor regarding your unique situation. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. NWM fund returns are quoted net of fund-level expenses. Past performance is not indicative of future results. All investments contain risk and may gain or lose value. Projected returns are estimates only. Returns are not guaranteed. NWM is registered as a Portfolio Manager, Exempt Market Dealer and Investment Fund Manager with the required provincial securities’ commissions in Canada.

 In this episode of The Wealth Exchange,  Nicola Wealth Management’s CEO, John Nicola, and David Frum continue their conversation on the current political landscape in the U.S. and global politics.

On this episode, John and David’s conversation focuses around Trump’s policies, taxes, and the impact of media and communications on the current political and economic landscape.

David is the Senior Editor of The Atlantic and has previously held many titles, including Speech Writer for George W. Bush. An avid political commentator and author, David has recently published his New York Times Best Selling book, Trumpocracy.

Key Takeaways:

[:29] About today’s episode.

[:50] David shares his thoughts on mainstream economic thinking and the standards of living.

[3:08] David and John discuss the startling statistics of United States’ life expectancy.

[5:37] One of United States’ successes: their reduction in crime.

[7:42] They discuss the impact of Trump’s policies.

[10:25] The global phenomenon of “all the other Trumps” around the world.

[12:35] The impact of media and communications on the current political and economic landscape.

[15:32] Is the U.S. on the cusp of a civil war?

[19:40] Is the media responsible for Trump’s presidency?

[23:55] How David would craft a more fair nation, economically.

[30:05] The reason why Trump’s tax plan is so poorly designed.

[32:33] David’s thoughts on GM’s CEO asking the government to help promote the use of electric vehicles.

[39:05] Why David believes there continues to be hope under Trump’s presidency.

[41:02] Are millennials generally more open and tolerant and likely to think from a liberal perspective than their parents?

Mentioned in this Episode:

Jair Bolsonaro’s declared Brazil’s next President

The Road to Unfreedom: Russia, Europe, America, by Timothy Snyder

“America is Edging Closer to Civil War” by Niall Ferguson GM’s CEO on the future of electric vehicles

Guest Bios

David Frum

One of the most influential political analysts of our time, David Frum brings a rational conscience into the mainstream and the often-polarized world of American politics.

As Senior Editor at The Atlantic, David’s commentary on social and political issues generates thought-provoking discussions throughout America and around the world. The Wall Street Journal dubbed him one of the leading politician commentators of his generation for his work in The Atlantic, Newsweek, The Daily Beast and CNN. In his quest for the truth, David has been a long-time advocate for shaking up the polarized U.S. Political system, providing insight into what political outcomes mean for specific audiences around the world.

For his full bio, visit: nsb.com/speakers/david-frum

John Nicola

John Nicola is the Chairman and the Chief Executive Officer of Nicola Wealth Management and has been a veteran of the financial services industry since 1974.

His areas of expertise include investment management, estate and financial planning, as well as business planning with a focus on best practices for wealth building, exit strategies, and shareholder agreements.

For his full bio, visit: waterstonehc.com/governor/john-nicola

For More Information on this Week’s Episode, Visit:

wwwNicolaWealth.com/TheWealthExchange

Disclaimer:

This presentation contains the current opinions of the presenter and such opinions are subject to change without notice. This material is distributed for informational purposes only and is not intended to provide legal, accounting, tax or specific investment advice. Please speak to your NWM Advisor regarding your unique situation. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. NWM fund returns are quoted net of fund-level expenses. Past performance is not indicative of future results. All investments contain risk and may gain or lose value. Projected returns are estimates only. Returns are not guaranteed. NWM is registered as a Portfolio Manager, Exempt Market Dealer and Investment Fund Manager with the required provincial securities’ commissions in Canada.

The Wealth Exchange podcast is joined by David Frum today. David is the Senior Editor of The Atlantic and has previously held many titles, including Speech Writer for George W. Bush. An avid political commentator and author, David has recently published his New York Times Best Selling book, Trumpocracy. 

 Today, David will be interviewed by John Nicola, CEO of Nicola Wealth Management. They discuss the current political landscape in the U.S., such as the recent mail bombings and synagogue shooting, and all things Trumpocracy.

David also gives his predictions of the U.S. through Trump’s Presidency, his take on the U.S. MCA, and his views on the trade war with China.

Key Takeaways:

[:29] About today’s topic and guest.

[:53] Did David Frum expect his quote from Trumpocracy to come true? ("The thing to fear from the Trump presidency is not the bold overthrow of the Constitution, but the stealthy paralysis of governance; not the open defiance of law, but an accumulating subversion of norms; not the deployment of state power to intimidate dissidents, but the incitement of private violence to radicalize supporters.")

[2:56] David breaks down the difference between the recent mail bombing and the tragic synagogue shooting.

[4:40] Does David predict that there will be more of these incited violent incidents through Trump’s Presidency?

[7:04] Does David agree with Peter Zeihan in that the framework the U.S. has created, shaped the environment that made “Trump” possible?

[11:24] Is the American agenda changing, or is it the Trump agenda?

[13:36] David’s view on the trade issues with China.

[16:19] As we look forward, does David see any rational thinking entering into the process of the trade war with China or is Trump too dogmatic?

[21:04] David’s take on the U.S. MCA.

Mentioned in this Episode:

Trumpocracy: The Corruption of the American Republic, by David Frum

Trump mail bombing incident

Synagogue shooting

The Accidental Superpower: The Next Generation of American Preeminence and the Coming Global Disorder, by Peter Zeihan

The Absent Superpower: The Shale Revolution and a World Without America, by Peter Zeihan

Guest Bios

David Frum

One of the most influential political analysts of our time, David Frum brings a rational conscience into the mainstream and the often-polarized world of American politics.

As Senior Editor at The Atlantic, David’s commentary on social and political issues generates thought-provoking discussions throughout America and around the world. The Wall Street Journal dubbed him one of the leading politician commentators of his generation for his work in The Atlantic, Newsweek, The Daily Beast and CNN. In his quest for the truth, David has been a long-time advocate for shaking up the polarized U.S. Political system, providing insight into what political outcomes mean for specific audiences around the world.

For his full bio, visit: nsb.com/speakers/david-frum

John Nicola

John Nicola is the Chairman and the Chief Executive Officer of Nicola Wealth Management and has been a veteran of the financial services industry since 1974.

His areas of expertise include investment management, estate and financial planning, as well as business planning with a focus on best practices for wealth building, exit strategies, and shareholder agreements.

For his full bio, visit: waterstonehc.com/governor/john-nicola

For More Information on this Week’s Episode, Visit:

wwwNicolaWealth.com/TheWealthExchange

Disclaimer:

This presentation contains the current opinions of the presenter and such opinions are subject to change without notice. This material is distributed for informational purposes only and is not intended to provide legal, accounting, tax or specific investment advice. Please speak to your NWM Advisor regarding your unique situation. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. NWM fund returns are quoted net of fund-level expenses. Past performance is not indicative of future results. All investments contain risk and may gain or lose value. Projected returns are estimates only. Returns are not guaranteed. NWM is registered as a Portfolio Manager, Exempt Market Dealer and Investment Fund Manager with the required provincial securities’ commissions in Canada.

On this episode of The Wealth Exchange, your host, Mark Therriault, interviews Dr. Francis Kateh. Dr. Kateh is the Deputy Minister of Health in Liberia and was appointed the National Deputy Incident Manager for Ebola response (in which he led the successful medical intervention of Liberia during the Ebola crisis that swept the country in 2014-2015). He helped save millions of lives during the crisis and served as a model in outbreak response.

To this day, Dr. Kateh continues his amazing work in Liberia. In this episode, Mark and Dr. Kateh have an enlightening conversation around the work Dr. Kateh has done, the journey that led him to his position as Liberia’s National Deputy Incident Manager, his major accomplishments in helping stop the Ebola epidemic, his biggest challenges during the crisis, and what his plans and hopes are for the future — for both Liberia, and his career. Marjorie Ratel, the president and founder of the Korle-Bu Neuroscience Foundation, also chimes in and gives her thoughts later on in the episode.

Tune in to hear more on how the Ebola epidemic was stopped, Dr. Kateh’s work in Liberia, and the continued measures that are taken everyday to prevent future outbreaks.

Key Takeaways:

[:29] About today’s guest and topic of conversation.

[1:17] Is Dr. Kateh currently in Liberia or the United States? And what led him on the path of health administration (which he did from 2004-2010) and then back to Liberia (in 2011) to run a hospital, then become the Deputy Incident Manager during the Ebola outbreak.

[5:44] An inspirational story from when Dr. Kateh worked at the hospital in Liberia, right before the Ebola outbreak.

[8:09] Had there been any Ebola outbreaks prior to the one in 2011? And have they found its source?

[9:04] About the early days of the Ebola outbreak and Dr. Kateh’s initial work during it.

[11:10] Dr. Kateh’s major accomplishments in helping to stop the Ebola epidemic in Liberia.

[11:41] How did Dr. Kateh come up with the two strategies that helped stop Ebola? And how did he make those life-and-death decisions?

[14:08] In terms of people who had symptoms of Ebola, how difficult was it for Dr. Kateh to convince people to follow his rules for not spreading Ebola?

[15:56] How did Dr. Kateh get his message out there?

[18:39] How does time play a part in contracting Ebola? Is there a time-based treatment? What was the “cure” to stopping Ebola?

[20:37] How the Ebola virus is transferred through touch.

[21:38] Is there anything Dr. Kateh would’ve done differently when approaching the Ebola virus epidemic?

[25:38] Does Dr. Kateh think that a large percentage of Liberians would be aware of Ebola if it wasn’t for the crisis? And the precautions they’re still taking on preventing the virus.

[26:45] Dr. Kateh’s biggest challenge during the Ebola crisis.

[27:44] What are the current things in Liberia that Dr. Kateh is dealing with today?

[30:15] Does Dr. Kateh feel he is currently headed in the right direction career-wise? And how he has overcome his past to ultimately become a doctor.

[37:41] What brings Dr. Kateh to Vancouver?

[39:37] The hopes and goals for Liberia. 

[41:31] Marjorie Ratel tells a few stories on tragedy, pregnancy, education, and saving lives in Liberia.

Mentioned in this Episode:

Johns Hopkins University

Guest Bios

Dr. Francis Kateh

Dr. Francis Kateh is one of Liberia's leading health professionals and the Deputy Minister for Health Services, Chief Medical Officer Republic of Liberia. 

His passion for quality health care delivery to the people of Liberia cannot be overemphasized. He has provided leadership and management to a wide range of health policies and strategies. His interest is to provide high satisfaction to patients and ensure patient safety. He has proven skills in running cost-effective patient care and establishing monitoring measures to ensure excellence in clinical care. 

For more information, take a look at it his Curriculum Vitae.

Marjorie Ratel

Marjorie Ratel is the president of the Korle-Bu Neuroscience Foundation. She founded the Korle-Bu Neuroscience Project in 2000. And by the following year, she and nursing colleagues, along with members of the Ghanaian community, began organizing the shipment of good-quality used medical equipment together with new medical supplies to the Korle Bu Teaching Hospital (KBTH) Neurosurgery Unit.

Marjorie Ratel is a strong advocate for access to quality health care in low and middle level income countries and is the spearhead of Korle-Bu Neuroscience Foundation. 

For her full bio, visit: KBNF.org/Majorie-Ratel

About Your Host — Mark Therriault

Mark is the Financial Advisor and partner of Nicola Wealth Management — and your host for The Wealth Management podcast.

As a member of the NWM Planning Team since 2006, Mark has become his clients’ trusted advisor. He prides himself on providing an exceptional experience to his clients while quarterbacking their financial affairs.

Mark earned his Bachelor’s degree in Economics with a minor in Finance from the University of Calgary. He went on to secure his CFP designation and also completed the CIM, CSC, the B.C. Life Insurance License.

For his full bio, visit: NicolaWealth.com/Our-Team/Mark-Therriault

For More Information on this Week’s Episode, Visit:

wwwNicolaWealth.com/TheWealthExchange

Disclaimer:

This presentation contains the current opinions of the presenter and such opinions are subject to change without notice. This material is distributed for informational purposes only and is not intended to provide legal, accounting, tax or specific investment advice. Please speak to your NWM Advisor regarding your unique situation. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. NWM fund returns are quoted net of fund-level expenses. Past performance is not indicative of future results. All investments contain risk and may gain or lose value. Projected returns are estimates only. Returns are not guaranteed. NWM is registered as a Portfolio Manager, Exempt Market Dealer and Investment Fund Manager with the required provincial securities’ commissions in Canada.

This episode, your host Mark Therriault, has a great conversation with their Chief Investment Officer at Nicola Wealth Management, Rob Edel. They touch on a variety of subjects, such as: the trade wars between the U.S. and China, NAFTA, interest rates continuing to go up in the short term (and what that means for the U.S. economy as well as Canada), what kind of stocks you should be looking for in this type of environment, as well as an overall review of the economy itself.

Rob also explains the reasoning behind the yield curve flattening or inverting, the big concern about inflation, what companies and opportunities he sees outperforming in this type of environment in the short to medium term, his thoughts on whether or not China will be able to withstand the imposing tariffs on their imports by the U.S, and if he thinks Canada is positioned safely in terms of where things are going economically in the U.S.

Key Takeaways:

[:29] About today’s guest and topic of conversation.

[1:11] Mark summarizes some of Rob’s ideas from the Monthly Market Commentary and Rob makes some additional comments about the yield curve and what it indicates.

[2:48] Would the reasoning behind the yield curve flattening or inverting be because of the economy becoming weaker?

[4:00] About the indicators that point to the U.S. still being a strong economy.

[5:36] Does Rob think that the whole tax reform has created a false sense of the economy doing better than might actually be?

[6:34] What’s the big concern about inflation?

[8:16] What kind of opportunities and companies is Rob looking for in this type of environment? What will outperform in the short-medium term?

[9:55] Will a stronger U.S. dollar (against the global economy) serve as a headwind?

[10:57] Why is the U.S. talking down their dollar? And will they continue to?

[11:45] Are we safe from the trade wars yet? What has changed?

[13:14] Rob’s new news in regards to China in the trade wars.

[13:58] Would China be able to withstand the imposing tariffs on their imports or are they at the heels of Trump and the U.S. administration?

[15:50] Does Rob still feel that Canada is safely positioned in terms of where things are at economically in the U.S.?

Mentioned in this Episode:

NAFTA

Fear: Trump in the White House, by Bob Woodward

Guest Bio

Rob Edel

Rob is the Chief Investment Officer at Nicola Wealth Management.

Before joining the team at Nicola, Rob spent 9 years working for one of Canada’s largest money managers and — most recently — as a Portfolio Manager responsible for managing U.S. equities for the firm’s high net worth clients. Previous to that, he spent seven years working for the Treasury Department of a Major Canadian Chartered Bank, splitting his time between Vancouver and Toronto. Rob has completed his CFA and is a member of the Association for Investment Management and Research (AIMR).

For his full bio, visit: nicolawealth.com/our-team/rob-edel

About Your Host — Mark Therriault

Mark is the Financial Advisor and partner of Nicola Wealth Management — and your host for The Wealth Management podcast.

As a member of the NWM Planning Team since 2006, Mark has become his clients’ trusted advisor. He prides himself on providing an exceptional experience to his clients while quarterbacking their financial affairs.

Mark earned his Bachelor’s degree in Economics with a minor in Finance from the University of Calgary. He went on to secure his CFP designation and also completed the CIM, CSC, the B.C. Life Insurance License.

For his full bio, visit: NicolaWealth.com/Our-Team/Mark-Therriault

For More Information on this Week’s Episode, Visit:

wwwNicolaWealth.com/TheWealthExchange

Disclaimer:

This presentation contains the current opinions of the presenter and such opinions are subject to change without notice. This material is distributed for informational purposes only and is not intended to provide legal, accounting, tax or specific investment advice. Please speak to your NWM Advisor regarding your unique situation. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. NWM fund returns are quoted net of fund-level expenses. Past performance is not indicative of future results. All investments contain risk and may gain or lose value. Projected returns are estimates only. Returns are not guaranteed. NWM is registered as a Portfolio Manager, Exempt Market Dealer and Investment Fund Manager with the required provincial securities’ commissions in Canada.

Today’s guest is Steve Saretsky, a Vancouver residential realtor and author behind one of Vancouver’s most popular real estate blogs: Van Condo City Guide. Steve is a thought leader in the industry with regular appearances on BNN, CBC, CKNW, and CTV. He’s also a contributor to the BCBusiness magazine. Steve has built a successful business and is considered among the top 10% of Greater Vancouver realtors. 

The main topic on today’s episode is real estate within Canada, with a focus on Vancouver real estate. Steve and Mark discuss the real estate boom around 2016, how the 15% foreign buyer tax impacted the market, how things are looking for sellers, and whether or not he believes we’ve officially moved into a buyer’s market. Steve also gives insight into his own experiences working with buyers and sellers, what he’s seeing first-hand, and his predictions for the future of the real estate market.

Key Takeaways:

[:31] About today’s guest and topics of discussion.

[1:37] Why did Steve decide to get into real estate?

[2:14] What it was like to get into real estate during its booming years (around 2016).

[4:43] Did it feel like chaos before the 15% foreign buyer tax was implemented?

[5:28] What is shadow flipping and how did it end up getting banned?

[6:58] Did Steve see an instant slow down after the 15% foreign buyer tax?

[9:09] Did Steve experience more foreign buyers or native buyers looking to buy real estate? 

[10:16] How much have detached homes in the west side of Vancouver come down since 2016? 

[11:18] What drove the small increase in value to detached homes in early 2017? And how are they looking now, in 2018?

[12:42] How much is Steve seeing sellers not wanting to negotiate for less (even though they’re still making a profit, though it may be 10% less from the previous year)?

[15:50] Has it become harder for clients to qualify for financing (from the increased difficulty in qualifying for mortgages and the foreign buyer tax?)

[18:40] What is Steve currently seeing in real estate? Is it all “doom and gloom?”

[20:46] Is the real estate market in Vancouver just “returning to normal” or are we experiencing a low?

[22:21] If Steve was a seller in the Lower Mainland real estate market, what would he do? And if he was a buyer, what would he do in this current state?

[23:20] Does Steve think we’ve officially moved back into a buyer’s market?

[24:18] For the rest of Canada, does Steve see the same statistics?

[26:11] Are there still opportunities in terms of buying or is the whole market is saturated and overpriced?

[27:34] Steve’s take on whether or not we’ll see a bigger price correction in the future.

[29:40] Steve’s final thoughts and predictions on the Vancouver real estate market.

Mentioned in this Episode:

Van City Condo Guide

BCBusiness magazine

CMHC

Guest Bio

Steve Saretsky

Steve Saretsky is a Vancouver Residential Realtor and author behind one of Vancouver’s most popular Real Estate Blogs Vancity Condo Guide. Steve is widely considered a thought leader in the industry with regular appearances on BNN, CBC, CKNW, CTV and a contributor to BC Business Magazine. (VanCityCondoGuide.com)

To read more of his bio, visit his blog at: VanCityCondoGuide.com/Steve-Saretsky

About Your Host — Mark Therriault

Mark is the Financial Advisor and partner of Nicola Wealth Management — and your host for The Wealth Management podcast.

As a member of the NWM Planning Team since 2006, Mark has become his clients’ trusted advisor. He prides himself on providing an exceptional experience to his clients while quarterbacking their financial affairs.

Mark earned his Bachelor’s degree in Economics with a minor in Finance from the University of Calgary. He went on to secure his CFP designation and also completed the CIM, CSC, the B.C. Life Insurance License.

For his full bio, visit: NicolaWealth.com/Our-Team/Mark-Therriault

For More Information on this Week’s Episode, Visit:

wwwNicolaWealth.com/TheWealthExchange

Disclaimer:

This presentation contains the current opinions of the presenter and such opinions are subject to change without notice. This material is distributed for informational purposes only and is not intended to provide legal, accounting, tax or specific investment advice. Please speak to your NWM Advisor regarding your unique situation. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. NWM fund returns are quoted net of fund-level expenses. Past performance is not indicative of future results. All investments contain risk and may gain or lose value. Projected returns are estimates only. Returns are not guaranteed. NWM is registered as a Portfolio Manager, Exempt Market Dealer and Investment Fund Manager with the required provincial securities’ commissions in Canada.

This episode Mark Therriault and Rob Edel, Chief Investment Officer at Nicola Wealth, bring you a Monthly Market Commentary.

They discuss the interest rate environments in Canada and the U.S., how the yield curve in North America is flattening (and what that means for investors), as well as an overview on both the U.S. and Canadian economies. Mark and Rob also briefly discuss the trade wars, the eurozone economy, and employment rates and wage growth for the U.S. and Canada.

Key Takeaways:

[:49] About today’s guest and topics of discussion.

[1:20] An overview of the Canadian and U.S. markets in the last month.

[3:34] When was the last time the U.S. economy had full employment like they do now? Wouldn’t you expect wage growth to continue to increase?

[4:56] Is Canada in the same position as the U.S. for employment and wage growth? Rob gives his thoughts and concerns.

[6:29] What happens if a deal can’t be made in the trade wars?

[8:42] Rob’s thoughts and greatest concerns about the eurozone economy.

[11:00] Why has the eurozone never really recovered from their financial crisis?

[14:20] How the yield curve in North America flattening or inverting affects interest rates.

[16:17] What would make the yield curve inverted?

[18:40] Are rising interest rates good for investors?

[20:44] Do you extend term/increase interest rate risk thinking rates are going to come back down?

[22:00] What is the impact from Canada and the U.S. raising interest rates while the rest of the world is not?

Mentioned in this Episode:

Yield Curve

NAFTA

Guest Bio

Rob Edel

Rob is the Chief Investment Officer at Nicola Wealth Management.

Before joining the team at Nicola, Rob spent 9 years working for one of Canada’s largest money managers and — most recently — as a Portfolio Manager responsible for managing U.S. equities for the firm’s high net worth clients. Previous to that, he spent seven years working for the Treasury Department of a Major Canadian Chartered Bank, splitting his time between Vancouver and Toronto. Rob has completed his CFA and is a member of the Association for Investment Management and Research (AIMR).

For his full bio, visit: nicolawealth.com/our-team/rob-edel

About Your Host — Mark Therriault

Mark is the Financial Advisor and partner of Nicola Wealth Management — and your host for The Wealth Management podcast.

As a member of the NWM Planning Team since 2006, Mark has become his clients’ trusted advisor. He prides himself on providing an exceptional experience to his clients while quarterbacking their financial affairs.

Mark earned his Bachelor’s degree in Economics with a minor in Finance from the University of Calgary. He went on to secure his CFP designation and also completed the CIM, CSC, the B.C. Life Insurance License.

For his full bio, visit: NicolaWealth.com/Our-Team/Mark-Therriault

For More Information on this Week’s Episode, Visit:

wwwNicolaWealth.com/TheWealthExchange

Disclaimer:

This presentation contains the current opinions of the presenter and such opinions are subject to change without notice. This material is distributed for informational purposes only and is not intended to provide legal, accounting, tax or specific investment advice. Please speak to your NWM Advisor regarding your unique situation. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. NWM fund returns are quoted net of fund-level expenses. Past performance is not indicative of future results. All investments contain risk and may gain or lose value. Projected returns are estimates only. Returns are not guaranteed. NWM is registered as a Portfolio Manager, Exempt Market Dealer and Investment Fund Manager with the required provincial securities’ commissions in Canada

Today’s episode is about sustainable and impactful investing. Mark interviews Christie Stephenson — the Executive Director of the Peter P. Dhillon Centre of Business Ethics at the UBC Sauder School of Business. Prior to UBC Sauder, she spent more than 15 years in key roles at socially responsible and impactful investing firms.

Statistics show that people care who they buy from and who they invest with. In this episode, Christie goes over the results of these statistics, explains what impact investing is, why we’re seeing a big push to sustainability, how companies would show they’re becoming more socially responsible, and how — as an investor — you would measure a company’s ethicality.

Christie is extremely passionate and excited to discuss this timely topic. She emphasizes that this shift for companies to rebrand and not only take from the environment, but give back, is crucial for companies to stay in business and have success in the future.

Key Takeaways:

[:29] About today’s guest and topics of discussion.

[1:19] Does sustainable investing, impact investing, and responsible investing all fall under the same umbrella?

[2:58] What is impact investing?

[4:08] Is sustainable investing more focused on environmental changes?

[5:17] Is Christie seeing a big push to sustainability?

[7:11] The push for companies to be more responsible to stakeholders, the environment, and a greater social purpose. 

[8:14] How would companies show more social responsibility?

[9:21] For example, how would an oil and gas company create a sustainable environment to stakeholders?

[11:55] Is Christie seeing an increase in high net worth individuals investing more in companies following these kinds of ethics?

[13:50] Should you be expecting a lower rate on your returns when you’re making an ethical investment?

[15:40] How do investors “score” or measure the ethicality of companies?

[18:00] How impact investing is very individual value-based.

[20:30] How long has the movement towards sustainable and ethical companies been around for?

[21:40] Resources and first steps a company could take to become more sustainable and impactful.

[25:55] Does Christie see it becoming a criteria for all companies in the future to be responsive to society in order to become a successful business in this world?

[28:53] Will some companies in the future just be making this shift to build their brand or does it matter because it is having a positive impact regardless? Does the motive matter?

[30:23] Why has this shift been happening?

[31:11] Has internet and social media made it harder for companies not to be making this shift?

[32:14] Is there anything about all this that could have a negative effect?

[33:16] Christie’s optimistic outlook on this shift and the current changes Mark has seen in companies.

[36:00] How an individual investor can learn about impactful and sustainable companies.

Mentioned in this Episode:

Peter P. Dhillon Centre for Business Ethics

UBC Sauder School of Business

Larry Fink’s Letter to CEOs

Bloomberg

BlackRock

B Corporation

Guest Bio

Christie Stephenson

Christie Stephenson is the Executive Director of the Peter P. Dhillon Centre for Business Ethics at the UBC Sauder School of Business. Prior to joining UBC Sauder, she spent more than 15 years in key roles at socially responsible and impact investing firms including Sustainalytics, NEI Investments (Ethical Funds) and Purpose Capital. She previously worked in politics, government and the nonprofit sector.

(PurposeCap.com)

For her full bio, visit: PurposeCap.com/Team/Christie-Stephenson

About Your Host — Mark Therriault

Mark is the Financial Advisor and partner of Nicola Wealth Management — and your host for The Wealth Management podcast.

As a member of the NWM Planning Team since 2006, Mark has become his clients’ trusted advisor. He prides himself on providing an exceptional experience to his clients while quarterbacking their financial affairs.

Mark earned his Bachelor’s degree in Economics with a minor in Finance from the University of Calgary. He went on to secure his CFP designation and also completed the CIM, CSC, the B.C. Life Insurance License.

For his full bio, visit: NicolaWealth.com/Our-Team/Mark-Therriault

For More Information on this Week’s Episode, Visit:

wwwNicolaWealth.com/TheWealthExchange

Disclaimer:

This presentation contains the current opinions of the presenter and such opinions are subject to change without notice. This material is distributed for informational purposes only and is not intended to provide legal, accounting, tax or specific investment advice. Please speak to your NWM Advisor regarding your unique situation. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. NWM fund returns are quoted net of fund-level expenses. Past performance is not indicative of future results. All investments contain risk and may gain or lose value. Projected returns are estimates only. Returns are not guaranteed. NWM is registered as a Portfolio Manager, Exempt Market Dealer and Investment Fund Manager with the required provincial securities’ commissions in Canada

In this episode of The Wealth Exchange for the Monthly Market Commentary, Mark and Rob discuss the demise of Italy in the eurozone, trade wars with China and the U.S., and gains in Canadian and U.S. markets.

Rob also answers some questions about volatility, whether or not we’re getting better at mitigating recessions, and if we’re moving towards deglobalization

Key Takeaways:

[:29] About today’s discussions with Rob Edel.

[:48] Why are we seeing positive returns in Canadian and U.S. markets?

[1:48] What have been the key drivers in the Canadian market?

[2:51] The demise of Italy in the eurozone: have they never recovered from 10 years ago or is this a completely new issue?

[4:18] Is Italy the biggest concern in the eurozone?

[6:04] Why can one country (such as Germany) be successful in the eurozone when another (like Italy) isn’t?

[7:33] Are we seeing more volatility or more volatility with lower returns?

[9:18] The recovery from 2008-18 being the second longest expansion in history — are we getting better at mitigated recessions or just “kicking the can down the road?”

[11:01] Rob’s thoughts on the trade war.

[13:05] Are we moving towards a deglobalization?

Guest Bio

Rob Edel

Rob is the Chief Investment Officer at Nicola Wealth Management.

Before joining the team at Nicola, Rob spent 9 years working for one of Canada’s largest money managers and — most recently — as a Portfolio Manager responsible for managing U.S. equities for the firm’s high net worth clients. Previous to that, he spent seven years working for the Treasury Department of a Major Canadian Chartered Bank, splitting his time between Vancouver and Toronto. Rob has completed his CFA and is a member of the Association for Investment Management and Research (AIMR).

For his full bio, visit: nicolawealth.com/our-team/rob-edel

About Your Host — Mark Therriault

Mark is the Financial Advisor and partner of Nicola Wealth Management — and your host for The Wealth Management podcast.

As a member of the NWM Planning Team since 2006, Mark has become his clients’ trusted advisor. He prides himself on providing an exceptional experience to his clients while quarterbacking their financial affairs.

Mark earned his Bachelor’s degree in Economics with a minor in Finance from the University of Calgary. He went on to secure his CFP designation and also completed the CIM, CSC, the B.C. Life Insurance License.

For his full bio, visit: nicolawealth.com/our-team/mark-therriault

For More Information on this Week’s Episode, Visit:

www.nicolawealth.com/thewealthexchange

Disclaimer:

This presentation contains the current opinions of the presenter and such opinions are subject to change without notice. This material is distributed for informational purposes only and is not intended to provide legal, accounting, tax or specific investment advice. Please speak to your NWM Advisor regarding your unique situation. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. NWM fund returns are quoted net of fund-level expenses. Past performance is not indicative of future results. All investments contain risk and may gain or lose value. Projected returns are estimates only. Returns are not guaranteed. NWM is registered as a Portfolio Manager, Exempt Market Dealer and Investment Fund Manager with the required provincial securities’ commissions in Canada.

Today on The Wealth Exchange, Mark speaks with Gregg Peacock, Erik Ashdown, and Jess Sloss on blockchain, cryptocurrency and everything in between. Gregg is the CEO and Co-Founder of NodeAI, a technology company that provides staking-as-a-service for crypto assets; Erik is a partner at Blockscore, a crowd diligence platform for initial coin offerings with a purpose of providing actionable feedback to companies launching new cryptocurrencies; and Jess leads operations at Ultraviolet Protocol, a smart contract platform for Data Creation Networks.

In this episode, they discuss the ins and outs of cryptocurrency. Gregg, Erik, and Jess break down the difference between Bitcoin and traditional digital currency, how to know if a cryptocurrency is secure and legitimate, how the value of a cryptocurrency is determined, and the different purposes cryptocurrency can serve in different contexts. They also discuss their predictions for the future of Bitcoin and cryptocurrencies alike, as well as their favorite cryptocurrencies, and their recommendations for investment.

Key Takeaways:

[:30] About today’s topic: cryptocurrency.

[1:32] Breaking down cryptocurrency: the difference between Bitcoin and a traditional digital currency.

[3:11] Were Blockchain and Bitcoin created together? How do they work together?

[4:46] How the decentralizing of these online currencies is extremely efficient.

[7:33] How do we know that cryptocurrency is secure? 

[10:35] Disintermediation with cryptocurrency.

[12:23] What is Blockchain?

[13:17] An example of Blockchain technology.

[14:35] Why cryptocurrency is not anti-business.

[17:14] How do you know if a cryptocurrency is legitimate? And will the same cryptocurrencies that are around now still be around 10 years from now?

[19:08] Do all of these cryptocurrencies claim to do different things?

[19:56] What is the goal of the creators of new cryptocurrencies? 

[23:55] Eric further breaks down cryptocurrency; how value is determined and the purpose of various cryptocurrencies.

[27:06] An example of the differences between various cryptocurrencies and their value (consumers vs company usage).

[32:26] As early adopters into the cryptocurrency space, what got Greg, Jess, and Erik initially interested — and are they still as excited as they initially were about it?

[40:54] Are we in a normalized valuation of cryptocurrency yet?

[42:57] The lack of accessibility to cryptocurrency.

[43:52] Are there efforts being made towards making cryptocurrency more accessible?

[45:00] What are the hold-ups for institutions accepting cryptocurrency? 

[50:49] Gregg, Erik, and Jess’s favourite wallets, exchanges, and cryptocurrencies.

[58:25] Gregg, Erik, and Jess’s cryptocurrency predictions.

[1:01:01] Predictions of which cryptocurrencies are going to remain valuable or become very valuable.

Mentioned in this Episode:

Bitcoin

Blockchain

IOTA

Coinbase Litecoin

Monero

Enigma

Dogecoin

Dogecon (Dogecoin conference)

Guest Bios

Gregg Peacock

Gregg Peacock is an active member of the Vancouver startup scene and is currently the CEO and Co-Founder of NodeAI, a technology company that provides staking-as-a-service for crypto assets. Gregg advises several early-stage startups on product strategy, and since 2015 has been deeply involved in the blockchain industry as an investor, trader and evangelist.

He is also an organizer and mentor at Startup Weekend Vancouver, a 54 hour event in which developers, designer, marketers, product managers and startup enthusiasts come together to share ideas and launch startups. Gregg has earned a degree in Engineering Physics from Queen’s University, and has previously worked as a product manager for companies such as Aritzia, Bench and Rise.

Reach out to Gregg at [email protected]

Erik Ashdown

Erik Ashdown is a partner at Blockscore, a crowd diligence platform for initial coin offerings (ICO) with a purpose of providing actionable feedback to both companies launching new cryptocurrencies, and investors considering investing. Clients include ICOs, ICO advisors, Investors, law firms and the government. 

Erik has invested in 20+ ICOs, worked with 50+ companies at various stages from startup to Series A, including indiloop — a music software platform of which he was the founder and CEO. He is involved in the Vancouver startup scene and is a graduate from both Concordia University and the Vancouver Film School in entertainment business management.

Reach out to Erik at [email protected]

Jess Sloss

Jess Sloss leads operations at Ultraviolet Protocol, a smart contract platform for Data Creation Networks. Decentralized applications need transparent, verifiable and minimally-trusted data to reach their full potential, but creating data that can be trusted is hard. UVP is building the infrastructure needed to crowdsource data in a decentralized way for use as oracles, for decentralized research or to be integrated into DAOs and DAPPs. 

Previously, Jess was the Director of Digital Media for The Feldman Agency, a music booking and management company where he consulted on digital projects for clients including Mother Mother, Melody Gardot, The Chieftains, Diana Krall and many more.

Follow Jess on twitter @thattallguy or reach him via email at [email protected]

About Your Host — Mark Therriault

Mark is the Financial Advisor and partner of Nicola Wealth Management — and your host for The Wealth Management podcast.

As a member of the NWM Planning Team since 2006, Mark has become his clients’ trusted advisor. He prides himself on providing an exceptional experience to his clients while quarterbacking their financial affairs.

Mark earned his Bachelor’s degree in Economics with a minor in Finance from the University of Calgary. He went on to secure his CFP designation and also completed the CIM, CSC, the B.C. Life Insurance License.

For his full bio, visit: nicolawealth.com/our-team/mark-therriault

For More Information on this Week’s Episode, Visit:

www.nicolawealth.com/thewealthexchange

Disclaimer:

This presentation contains the current opinions of the presenter and such opinions are subject to change without notice. This material is distributed for informational purposes only and is not intended to provide legal, accounting, tax or specific investment advice. Please speak to your NWM Advisor regarding your unique situation. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. NWM fund returns are quoted net of fund-level expenses. Past performance is not indicative of future results. All investments contain risk and may gain or lose value. Projected returns are estimates only. Returns are not guaranteed. NWM is registered as a Portfolio Manager, Exempt Market Dealer and Investment Fund Manager with the required provincial securities’ commissions in Canada.