In this column, I’d like to discuss two items, wildfires and economic efficiency, which at first glance appear unrelated, but are they? Once again, climate alarmists are using a truly unfortunate situation for political gain and justification of their anti-oil positions. Admittedly, in Figure 1, the 2023 data looks scary, but the overall graph is […] Read more
Stop blaming the boogeyman
A few things I don’t like about corporate behaviour
Pet peeves about stock option awards, share buybacks and more
Generally, I write very supportively of our capitalist system as in last September’s column, “Profit is not a four-letter word.” This time I will outline several items that often reduce shareholder returns and provide fodder for socialist attacks on the capitalist system that is responsible for our high standard of living. Excessive stock option rewards […] Read more
Why would a farmer be interested in stocks?
The goal is to make money and grow your asset base
Over the past five years, I hope to have convinced some to gather a nest egg in stocks, whether in a TFSA, RRSP or a taxable account. I am curious if you have started because of what I have written and how many are following the Titanium-Strength Portfolio (TSP). Please send a short email to […] Read more
Interest rate herky-jerky
What led to the demise of Silicon Valley Bank?
Here’s my definition of herky-jerky: an overreaction of equal magnitude but opposite direction to previous overreaction. Disclosure: I am in no way an expert on the nuances of money supply and the inner workings of bank policy. What follows is my layman’s perspective of what caused the March bank panic. To say I am puzzled […] Read more
Do you have to sell in order to profit?
Investing for Fun and Profit: Measuring and benchmarking are key to understanding performance
According to a Bloomberg article, average retail investors lost 30 per cent in 2022, significantly underperforming the 17 per cent loss of the S&P 500. While this is U.S. data, it seems unlikely that Canadian investors fared much better given the excitement around technology and disdain for energy. This was by no means an anomalous […] Read more
How do market participants decide what to buy?
Steps in the selection process
There is no shortage of jargon and theories on how to select the best stocks. This column will attempt to describe the main processes people use, and what my 40 years of experience has taught me about them. Hearsay or hot tips During the speculative buildup to The Great Depression, shoeshine boys provided hot tips […] Read more
Investing styles and definitions
Investing For Fun and Profit: Which category do you fall into?
After completing the last column, I thought perhaps a better definition of growth and value would be in order as well as defining other common investment styles and strategies. There are three kinds of market participants often referred to under one umbrella as “investors,” however, I like to distinguish between the three: 1. Speculators orient […] Read more
Value investing is dead … long live value investing
“Reports of my death have been greatly exaggerated” — Mark Twain
As I was cleaning my desk clutter, I came across a Globe and Mail article titled, “Five reasons why value investing may never regain its appeal.” It appeared Aug. 27, 2019, after a decade in which growth stocks had significantly outperformed value stocks. It isn’t unusual to see these types of headlines just before a […] Read more
Stock market and economic outlook
Why aren’t we listening to Warren Buffett?
Warren Buffett is one of the best investors the world has ever seen. One of his most famous quotes is, “Be fearful when others are greedy, and greedy when others are fearful,” which aligns with the direction of my thoughts for the coming year. By the time you read this, some of the predictions may […] Read more
‘A pinball wizard’s got such a supple wrist’
For many market participants, 2022 was a volatile and negative year
Strategically located a block from my high school, lurked a pool hall readily luring innocent students from their studies. While it was busiest during lunch hour and après school, business remained brisk during school hours. Must have been students on their spares! At its entrance stood a bank of pinball machines, always busy and always […] Read more
Cyber-Savvy Farmer
