Blog: Cutting Through the Noise
Industry News + Views
Budget Deficits in Good Times ... Yikes!
Excerpt from Tom Bradley's blog on March 21, 2011
When I was a stock analyst at Richardson Greenshields in the 1980’s, I was forced to spend more time analyzing the Federal Budget than I ever wanted to. Everyone in the research team had to determine how the Finance Minister’s words would affect the...Read More
The Japan Earthquake
Excerpt from Scott Ronalds's blog on March 11, 2011
As we watch the horrific destruction in Japan, we are well aware that our Global Equity Fund owns a number of businesses in that country. Roughly 20% of the fund is invested in Japanese stocks. At this time, we don’t have any information or insight to pass...Read More
If You Don't Believe Me...
Excerpt from Tom Bradley's blog on March 10, 2011
Subsequent to posting my last blog (Hocus Pocus but no Magic), I came across some weighty comments that relate to the topic of fancy, highly-marketed investment products. In his latest piece, James Montier of U.S.-based GMO says, “If something seems too...Read More
Hocus Pocus but no Magic
Excerpt from Tom Bradley's blog on March 7, 2011
I just read an article by Jade Hemeon in the February issue of Investment Executive, a trade magazine aimed at financial advisors. The piece was on a new product called BMO Lifetime Cash Flow. My experience with the article went something like this...Read More
Buffett Unconstrained
Excerpt from Scott Ronalds's blog on March 1, 2011
Tom discussed Longleaf Partners’ annual letter to shareholders in a blog posting yesterday. Today, the grand-daddy of all shareholder letters is in the news – Warren Buffett’s. I’m beating Tom to the punch for a synopsis, as his posts in previous years...Read More
Longleaf Partners - Quality Defined
Excerpt from Tom Bradley's blog on February 28, 2011
While plowing through my research pile, I had the pleasure of reading the year-end report of the U.S.-based Longleaf Partners Funds. I’ve followed Longleaf, which is an extension of Southeastern Asset Management, for more than a decade and long...Read More
Just Tell Me How Much
Excerpt from Tom Bradley's blog on February 21, 2011
A recent Angus Reid poll confirms what we have believed for a long time - many investors don’t know what they’re paying for their investment services (Steadyhand clients notwithstanding). The December 2010 poll revealed that 45% of respondents...Read More
14,000
Excerpt from Tom Bradley's blog on February 17, 2011
A reporter called yesterday wanting to talk about the S&P/TSX Composite Index breaking through 14,000. He wanted to know my thoughts on the market’s rapid rise from the low of March, 2009 – what had taken 5 years to accomplish in the prior run-up, took just...Read More
Transparency in the Investment Industry
Excerpt from Scott Ronalds's blog on February 1, 2011
Tom Bradley was recently a guest on the Women’s Financial Learning Centre’s “Let’s Talk Money Podcast” with Karin Mizgala, a co-founder of WFLC. The topic of the show was transparency in the investment industry (or lack thereof). Tom and Karin...Read More
Monthly Income Funds - Some Useful Math
Excerpt from Tom Bradley's blog on January 12, 2011
For investors that own a monthly income fund of some kind, Dan Hallett’s article in the Report on Business today is a must read. As Dan says, “the industry has created numerous products that kick out generous amounts of cash each month...Read More
Facebook - Friending an Underwriter
Excerpt from Tom Bradley's blog on January 6, 2011
It was reported this week that Goldman Sachs is investing $500 million in Facebook, which is a private company. Goldman’s 470 partners and select clients are also being given an opportunity to buy shares. One report suggested that this investment puts...Read More
It's a Real Beauty
Excerpt from Tom Bradley's blog on December 8, 2010
"We’ve priced this product to do well in the marketplace … it’s the right product for the times …” - Martin Nel, vice-president of personal bank lending and investment products, Bank of Montreal. I’m sure there are readers who wonder why we write so negatively about...Read More
