The Rational Reminder Podcast

We have a special, short bonus episode for you today! We are very glad to welcome the mayor of Ottawa, Jim Watson, to the podcast and although we are not strictly talking about investing and our usual topics, we do think it is a great and insightful conversation that you will enjoy, no matter where you are from. Mayor Watson tells us about his vision for the city, how he characterizes it, and the importance of the tech scene to its growth and success. We also talk about talent attraction and retention, social media in politics, budgeting, and his greater mission while in office. Be sure to tune and hear it all, here on the Rational Reminder Podcast! Key Points From This Episode: The mayor's description of Ottawa. [0:02:24.7] Ottawa's tech scene and the impact of companies like Shopify. [0:03:16.2] Attracting and retaining talent in the city. [0:05:48.8] Implementing a vision through daily work. [0:07:38.4] The role of social media in the job of the mayor. [0:08:53.7] Mayor Watson's greater mission in politics. [0:11:06.6] Budgeting and balancing expectations around this. [0:12:55.1] And much more!

Welcome back to another episode of the Rational Reminder Podcast. Our goal this year is to find our podcasting rhythm, creating a schedule that alternates between guests and these conversational episodes where it's just us. On today's episode we want to pull the focus of the podcast back to answering a handful of client questions that have come up in the past little while. So on today's episode we are jumping right in to answer those listener questions, getting back on the factor train, and trying to get to the root of the desire for face-to-face investment advice. We also talk about a few articles as well, including some of the biggest headlines in investment news, and why it it critical to not only save for but also make plans to fulfill the vision of your retirement. So for another insightful episode answering all of your questions, stay tuned! Key Points From This Episode: • Discussing recent stand-out investment articles. [0:03:12.0] • Unpacking the debate between active and passive investment management. [0:07:11.0] • Why using factors is not another flavor of active management. [0:10:43.0] • Understanding market caps surrounding factors. [0:14:41.0] • Evaluating the worth of a stock that has not dividends or profit sharing. [0:16:46.0] • Planning for retirement, or not retiring at all: the retirement trends of today. [0:19:53.0] • Wealthsimple's premium advice option: the value of dealing face-to-face [0:23:44.0] • The lost Bitcoin wallets crisis; understanding centralized versus decentralized [0:30:44.0] • And much more!

Today on the show we are joined by Steven Leong who is the Head of Canada iShares Product at BlackRock. Steven is here to talk about single decision ETFs, the new XGROs and XBALs from BlackRock and whole lot more. We start off the episode with a bit of an introduction on BlackRock and iShares before Steven informs us on the new relationship between BlackRock and RBC Global Asset Management. From there we get into the meat of the episode looking at the portfolios in question and Canada's current positioning in the global trends. We talk about some of the great advantages that these funds offer investors and Steven shares his ideas on the current role of the financial advisor with regards to the rise of passive investing. We are lucky enough to have Steven offer his perspective on a slew of related topics before ending off with two great pieces of advice for our listeners. For this and more, be sure to join us! Key Points From This Episode: A quick overview of BlackRock's scope and size [0:02:44.0] BlackRock's relationship with RBC Global Asset Management. [0:04:35.8] A little about the XGRO, the XBAL portfolios. [0:06:32.3] Overweighting in Canada in common model portfolios.. [0:08:52.1] The advantage of automatic rebalancing for the investor. [0:11:06.3] The evolving role of the trusted financial advisor. [0:12:27.4] Sharp downturns in fund fees and the results of this trend. [0:15:01.8] Canada's relatively slow uptake in index funds and iShares' factor products. [0:19:46.9] The future of active versus passive investing. [0:25:21.2] Two pieces of investment advice from Steven! [0:27:14.7] And much more!

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

Robin Powell, a journalist and documentary-maker dedicated to evidence-based investing, shares his transformative journey in financial education. He discusses his shock upon discovering hidden research and his motivation to create impactful documentaries. Powell reflects on influential figures he met, including Jack Bogle, and analyzes the effects of the UK Retail Distribution Review on investor access. He emphasizes the media's bias towards flashy active investing stories versus the simplicity of index investing, while envisioning a future with better-educated investors and the vital role of both robo-advisors and human planners.

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