The Rational Reminder Episode 4 - The Race to 0%

In Episode 4 of the Rational Reminder podcast we discussed the following:

  • After a successful launch, the podcast will live on! Thanks for the support and feedback
  • The longest bull market in history?
  • Are we repeating the tech bubble?
  • Why it still makes sense to hold bonds
  • Rebalancing isn’t always easy
  • The Lost Decade, sort of
  • Is tax-loss selling worth it?
  • Horizons’ marketing mistake
  • One decision funds
  • Index fund fees are finally at 0%
  • Sec lending is the future of index fund revenue
  • Charley Ellis on the history of active management
  • There are less willing losers today than there were in the past
  • The paradox of skill
  • Active managers underperform consistently
  • Daniel Kahneman does not believe active management works
  • If you think you have intuition about stocks, you’re wrong
  • Corporate DB pension plans are not risk-free

The stories we talked about:

The charts we talked about:

 Source: PWL Capital

Source: PWL Capital

The Rational Reminder Episode 3 - Amazon Eating the Stock Market

In Episode 3 of the Rational Reminder podcast we discussed the following:

  • Should you lease or buy your vehicle?
  • How are the new mortgage stress tests affecting Canadian real estate?
  • Home ownership is not required to build wealth, with a little discipline
  • Amazon’s size is not unprecedented
  • Successfully investing in growth stocks is really hard
  • Consolidation in the Canadian asset management industry
  • Independence benefits wealth management clients
  • Are backend loads on mutual funds still a thing?
  • Fund companies pushing anti-evidence
  • Financial advice is about more than just the portfolio
  • We are still waiting for lower stock valuations, high inflation, and high interest rates
  • If you’re not worried, you don’t have a high expected return
  • Are we living in exceptionally uncertain times?
  • Small cap and value returns comes from rebalancing

The stories we talked about:

The charts we talked about:

The Rational Reminder Episode 2 - Indexing is Here to Stay

In Episode 2 of the Rational Reminder podcast we discussed the following:

  • The underperformance of value stocks
  • Are we in a Winner Take All market?
  • Facebook’s crash
  • Global value performance
  • Canadian value premium at ~+5.5%
  • Rebalancing into the pain
  • Factor diversification
  • Having a philosophy and sticking with it
  • Index fund flows are slowing down in the US
  • Canadian active funds are still dominating passive ETFs
  • Markets are still efficient
  • Deciding to be an index investor takes work
  • Fewer highly skilled active managers make markets more efficient
  • Canadians might need to buy real estate to retire
  • Doctors were sold out by MD Management
  • Should you listen to the yield curve?
  • Michael Batnick’s chart crimes
  • DFA’s weights vs. the S&P 500 weights

The stories we talked about:

The charts we talked about:

Rational_Reminder_EP2.jpg

The Rational Reminder Episode 1 - The Cheapest Advice Probably isn't the Best

In our first ever episode of the Rational Reminder podcast we discussed the following:

  • The purpose of the podcast
  • How we invest
  • DFA
  • Factor investing
  • Our worst investment ever
  • Tripling our money in JDS
  • Hedge funds still can’t beat the market
  • CSA won’t deploy a statutory best interest standard
  • The cheapest financial advice may not be the best
  • Is a financial advisor worth it?
  • Cost vs. complexity

The stories we talked about: