In Episode 9 of the Rational Reminder podcast we discussed the following: Being a poor grad student Budgeting Stuff does not make you happy Mental overhead is a real cost The Globe’s Financial Facelift disaster Rob Arnott’s slam of Dimensional Are people afraid of stocks? The 10-year anniversary of Lehman’s fall Stories from the financial crisis Volatility in dollars vs. percentage points Automated rebalancing My uncle told me to buy weed stocks What does a rational investor worry about?   The stories we talked about: Great savers, not so great at investing Psychic Trauma How the Financial Crisis Still Affects Investors   The chart we talked about:   For more information or to contact Cameron and Ben, visit pwlcapital.com

In Episode 8 of the Rational Reminder podcast we discussed the following: Fidelity’s 0% MER index funds are already at $1 billion When costs are 0%, how do you pick a fund? Indexing is not a passive investment strategy Index construction and product implementation > low fees A three factor regression on the Manulife Multifactor ETFs Indexing is still a tiny part of the market Not all factors belong in a portfolio Dividend investing shouldn’t be so controversial Dividends are not a spending rule Financial experts don’t sound like experts to non-experts Sell everything!   The stories we talked about: Fidelity Zero-Fee Funds Lure About $1 Billion in First Month Infographic: Three myths related to indexing What Does it Mean to be a Financial Expert?   The charts we talked about: Image Source: Vanguard     For more information or to contact Cameron and Ben, visit pwlcapital.com  

In Episode 7 of the Rational Reminder podcast we discussed the following: Ottawa home prices The longest bull market in history What goes up does not have to come down All time highs are normal and should be expected Is the market overvalued? Even the CAPE only explains 40% of future return differences Should you dollar cost average or invest in a lump sum? Your better off in the market than trying to time the market Was WEED an obvious buy at $2.00? There are still plenty of public companies to invest in Small cap returns need to be taken in context Bad behaviour is not always easy to spot The stories we talked about: The longest bull run in history comes with a jumbo-sized asterisk All time highs are normal What if investing right before a market crash isn’t that bad? Is Now the Best Time to Invest? With Constellation Deal, Canopy Has the Chance to Be Google of Pot The Stock Market Is Shrinking. That’s a Problem for Everyone.   The charts we talked about: Image source: Dimensional Fund Advisors Image source: Ben Felix, PWL Capital   For more information or to contact Cameron and Ben, visit pwlcapital.com

In Episode 6 of the Rational Reminder podcast we discussed the following: Subscribe to the podcast on iTunes! Wealthsimple’s new no-commission trading platform Do individual stocks ever play a role in a financial plan? Can behavioural coaching be scaled? Being aware of conflicts of interest Wealth and happiness are not always connected If you buy an R8, you’ll want a McLaren next Retiring does not mean doing nothing How do you retire without a financial plan? The 4% rule is false! If you want to retire early Asset location is hard to do, and might not add value  The stories we talked about: Wealthsimple CEO Katchen says he would ‘certainly’ consider IPO The best of Carrick on Money: Who wants to retire really early, anyway? Asset Location Asset Location Gets REALLY Complex “Optimal” Asset Location, Applied   For more information or to contact Cameron and Ben, visit pwlcapital.com

In Episode 5 of the Rational Reminder podcast we discussed the following: Checking your credit Optimizing your credit score Investing vs. paying off your mortgage Asset allocation Reframing mortgage debt Are we in a tech bubble? The rise in the US market is backed by fundamentals How the largest Canadian pension funds invest Skewness in VC returns It’s still really hard to beat index funds  The stories we talked about: Mortgage debt and asset allocation Fed Up Andrew Coyne: Canada Pension Plan's active management strategy is a crock Tiny Wisconsin College Using Index Funds Trounces Endowment Rivals   The charts we talked about: Source: Raymond Kerzhéro, PWL Capital   Source: Raymond Kerzhéro, PWL Capital   Source: Raymond Kerzhéro, PWL Capital   Source: Correlation Ventures   For more information or to contact Cameron and Ben, visit pwlcapital.com 

After a successful launch, the podcast will live on! Thanks for the support and feedback. In Episode 4 of the Rational Reminder podcast we discussed the following: 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:   This bull market could become the longest in history this month Tax-Loss Harvesting: Should Investors Believe the Hype? Horizons ETFs Launching 0% Management Fee ETF Portfolio Solutions Free Fidelity Funds Stoke Price War in Bid to Catch Index Giants ETFs still gathering assets, but inflows slow as investors favor lower-cost funds CHARLEY ELLIS – INDEXING AND ITS ALTERNATIVES (EP.62) Then, and now Kahneman's Insights: Beyond Thinking Fast and Slow 'It's going to be hard': Sears pension payments cut by 30% this week   The charts we talked about: Source: PWL Capital     Source: S&P Dow Jones Indices   For more information or to contact Cameron and Ben, visit pwlcapital.com 

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:   Report on the Housing and Mortgage Market in Canada Federal policies suppressing housing activity, creating a negative shift in sentiment for homebuyers, according to latest consumer report Amazon’s eating the world – and the stock market Is Amazon Changing the World, and the Stock Market? The Most Valuable Companies of All-Time TD Bank becomes Canada's biggest money manager with $792-million deal to buy Greystone Managed Investments Banning Embedded Commissions Would Not Have Fixed Financial Advice in Canada Transforming Practices in the Wealth Business: A preliminary assessment of the June 2018 CSA reforms to the client-advisor relationship Not So Predictable In these uncertain times   The charts we talked about: Source: Financial Market History: Reflections on the Past for Investors Today, CFA Institute   Source: Visual Capitalist   For more information or to contact Cameron and Ben, visit pwlcapital.com

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: Dave Butler Discusses Finance and Basketball Hedge Funds Should Be Thriving Right Now. They Aren’t. 2017 NACUBO-COMMONFUND STUDY OF ENDOWMENTS It just became clear we’ll never see an investment industry where clients must come first Why hiring an adviser who’s offering low fees could be a terrible move for your finances Podcast 18: Boots on the Ground with Rob Carrick Millennial looking to start investing asks: Should I go with Wealthsimple?   For more information or to contact Cameron and Ben, visit pwlcapital.com

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:   Don’t cry over underperforming US value stocks O’Shaughnessy Quarterly Investor Letter Q2 2018 Index Funds Are Going to Be Just Fine The growth of index investing has not made markets less efficient People Aren’t Dumb. The World Is Hard. Many doctors feel “betrayed” by sale of MD Financial Management Earth to investment advisers: You’re blowing it with millennials Arguing With the Yield Curve Robot vs. human: When you should invest with robo advisors The charts we talked about:     Image source: Michael Batnick   For more information or to contact Cameron and Ben, visit pwlcapital.com