Episode 26: Embracing Uncertainty: Planning Ahead and Taking On the Risk with Big Bang Theory Writer, David Goetsch

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!

Episode 25: The Year End Round Up: Recapping Recent Market Performance

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!

Episode 24: Evidence: What To Follow And What Not To Follow

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!

Episode 23: The Basic Rules of Purchasing Insurance: What, Why, When and How Much!

Welcome back to The Rational Reminder Podcast. Today we are joined by Glenn Cooke. Glenn is a fixture on the personal finance Canada sub-Reddit and spent many years as the President of Lifeinsurancecanada.com, which is an online platform for insurance information. Today, Glenn is the President of Insurance Squared where he works with market research departments at life insurance companies and shows life insurance agents how to generate leads online and sell non-face to face. Glenn has a very matter of fact, rational approach to insurance and that’s what we talk to him about in today’s episode. He shares with us about the mistakes he commonly sees in insurance, especially the fact that most people way under buy the amount of life insurance that they truly need. Glenn also describes permanent insurance, what it is, when it makes sense and what situations it is best suited for. We hear about when it’s important to use investments versus not and as long as consumers stick to those basic rules, it’s hard to go astray. So for an incredible interview, keep listening to hear more!

Key Points From This Episode:

  • Over the phone and online - why that approach worked so well for Glen. [0:02:24.0]

  • Understanding field underwriting. [0:03:17.0]

  • Why some people are hesitant buying insurance online and prefer in person. [0:06:27.0]

  • Most common questions people are asking when buying insurance. [0:07:27.0]

  • Mistakes people are making when buying life insurance. [0:07:56.0]

  • Justifying how much you need. [0:09:31.0]

  • How disability insurance ties in very closely to life insurance. [0:10:34.0]

  • Settling for group disability insurance through your employer. [0:13:23.0]

  • What is permanent life insurance and where would it make sense. [0:15:25.0]

  • Two general categories of permanent insurance. [0:19:30.0]

  • Glen’s views on critical illness insurance. [0:21:21.0]

  • Three ways you can use life insurance. [0:25:46.0]

  • Ways you can get money out of your insurance policy. [0:28:08.0]

  • Glen’s observation about financial literary in Canada. [0:32:05.0]

  • And much more!


“The amount of insurance that people buy is almost never enough.” — Glenn Cooke  [0:08:02.1]

“Head towards the guaranteed version. If you are just looking for the cheapest way to get life insurance when you die, you want level premiums, everything fully guaranteed.” — Glenn Cook  [0:20:27.1]

Links From Today’s Episode:

Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582.
Rational Reminder Website — https://www.pwlcapital.com/author/benjamin-felix/
Benjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/

Benjamin on Twitter — https://twitter.com/benjaminwfelix

Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/

Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/

Cameron on Twitter — https://twitter.com/CameronPassmore

Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/

Reddit — https://www.reddit.com/r/PersonalFinanceCanada/

Glenn Cooke — https://www.linkedin.com/in/glenn-cooke-5320485/

LifeInsuranceCanada — https://www.lifeinsurancecanada.com/

Insurance Squared — http://www.insurancesquared.com/

Manulife — https://www.manulife.ca/personal.html

The Rational Reminder Podcast Episode 22 – Transformational Decision Making: Building A Company, Defining Success, and Finding Happiness

Welcome back to The Rational Reminder Podcast. Today we are joined by Daniel Weinand. Daniel is the cofounder of Shopify, which is a company based in Ottawa that has had enormous success, not just in Ottawa or Canada, but all over the world in the last few years as a public company. Shopify is a great commerce platform that supports over 600,000 different stores worldwide. It is an incredible success story, and the best way that we can describe the conversation was that it was very intense. Everything from the way Daniel thinks about things to what he’s been able to achieve comes down to his intensity, and you can actually see the wheels turning in his head while he speaks. So for an incredible interview, keep listening to hear more!

Key Points From This Episode:

  • How Daniel chose Canada and got involved in Shopify. [0:02:13.0]

  • Decisions that were transformational for the company. [0:04:21.0]

  • Daniel’s transition into retirement from Shopify. [0:06:07.0]

  • The role of happiness and self-fulfillment. [0:10:18.0]

  • The beauty of poker — a game of incomplete information. [0:11:19.0]

  • Creating a company culture. [0:19:16.0]

  • The impact financial security has on productivity and engagement for employees. [0:25:04.0]

  • How Daniel defines success. [0:26:25.0]

  • Why Daniel chose to work with PWL. [0:29:41.0]

  • The impact of money in Daniel’s life. [0:33:53.0]

  • And much more!


“The beauty of startup or the way how we ran our startup was that we made many decisions every day.” @danielweinand [0:04:22.1]

“Be humble enough to admit to yourself, it’s okay to start at the bottom and like work your way up.” [0:18:52.1]

“Culture is the willing behavior in the beliefs of a group of people.” [0:21:28.1]

“Make every hour count.” [0:37:23.1]


Links From Today’s Episode:

Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582.

Benjamin on Twitter — https://twitter.com/benjaminwfelix

Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/

Cameron on Twitter — https://twitter.com/CameronPassmore

Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/

Daniel Weinand — https://www.danielweinand.com/

Shopify — https://www.shopify.com/

Daniel on Twitter — https://twitter.com/danielweinand

Blue Pacific Studios — http://bluepacificstudios.com/

Grit by Angela Duckworth — https://www.amazon.com/Grit-Passion-Perseverance-Angela-Duckworth/dp/1501111108

The Rational Reminder Podcast Episode 21 – Buying or Leasing: Weighing the Costs of Real Estate Choices.

Welcome back to The Rational Reminder Podcast. Today’s episode is focused on the question of investing in real estate. It is still a common conundrum for investors and even those who may not consider themselves active investors, whether to buy or to rent a property. As you may imagine it is not a very simple issue and the answer does require some serious thought and calculation. But our hosts do their best to lay out some of the most important concerns and factors in trying to find the answer. Before getting into the meat of the episode however, we also look at some general recent news from the money world including developments from Investor’s Group, the market’s downturn and the low year we have all had as well as thinking about Canadian small cap stocks. For all this and more, be sure to tune in!

Key Points From This Episode:

  • The changes Investor’s Group have made to their pricing. [0:01:27.4]

  • The recent downturns in the market. [0:03:04.8]

  • Evolving perspectives and long term measurements on your returns. [0:05:00.2]

  • Looking at the performance of Canadian small cap stocks. [0:09:55.2]

  • Beginning to weigh the costs of owning versus renting real estate. [0:11:13.3]

  • Dropping opportunity costs and changes in income over time. [0:16:15.8]

  • Adjusting your view to your total unrecoverable costs. [0:16:46.4]

  • The biggest advantage of home ownership. [0:18:26.8]

  • Some points from Larry Swedroe that we can all adhere to. [0:20:38.2]

  • Keeping track of your decisions and why you made them. [0:25:41.8]

  • And much more!



 “The problem is a lot of people I don’t think know what to expect. And they often look to people like us to prevent them from that happening.” @cameronpassmore [0:04:26.4]

“Renting is easy to identify as an unrecoverable cost. You pay whatever, $2,000 a month it goes away to your landlord, you get a place to live and that’s it.” @cameronpassmore https://goo.gl/aP7czM of the market of higher expect of return.” @cameronpassmore [0:12:53.7]

Links From Today’s Episode:

Rational Reminder Website — https://www.pwlcapital.com/author/benjamin-felix/

Benjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/

Benjamin on Twitter — https://twitter.com/benjaminwfelix

Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/

Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/

Cameron on Twitter — https://twitter.com/CameronPassmore

Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/

Rob Carrick — http://www.robcarrick.com/

Investors Group — https://www.investorsgroup.com/en

S&P 500 — https://www.marketwatch.com/investing/index/spx

Ken French — http://mba.tuck.dartmouth.edu/pages/faculty/ken.french/

The Wealthy Renter — https://www.amazon.com/Wealthy-Renter-Choose-Housing-That/dp/145973646X

Larry Swedroe — https://www.etf.com/contributors/larry-swedroe

ETF — http://etf.com/

Warren Buffett — https://www.forbes.com/profile/warren-buffett/

Fama and French — https://www.investopedia.com/terms/f/famaandfrenchthreefactormodel.asp

Tesla — https://www.tesla.com/

The Rational Reminder Podcast Episode 20 – The Cost of Financial Advice: Should You Pay For It and If You Do, How Much Should You Pay For It?

Welcome to The Rational Reminder Podcast. On today’s episode we are going to roll out our new format for the show. We ended off our previous show format with a series of interviews, and today we are ready to jump into something new! Of course, we definitely don’t plan on doing that perfectly today because we do have a couple of things that we want to talk about before we make it official. The meat of the episode will be focused on discussing the cost of financial advice. Should you pay for it, how should you pay for it, and how much should you pay for it? On top of that, we are going to be discussing the performance of the markets, controlling the things you do have control over, being a DIY investor, and how to strategically choose where you get your investment advice from. It’s genuine and it’s out there, so keep listening to hear more!

Key Points From This Episode:

  • Performance of the markets – should you invest. [0:03:25.0]

  • Having control over your asset allocation. [0:05:35.0]

  • The use of robo advisors. [0:07:21.0]

  • What should we be paying for advisors. [0:10:40.0]

  • Service delivery – is the outcome positive for the client and the advisor. [0:13:49.0]

  • How we use a tier fee structure at PWL. [0:16:17.0]

  • Benjamin shares about the event he went to last week. [0:17:03.0]

  • Who should you be getting your advice from – does licensed matter. [0:21:14.0]

  • Being a DIY investor. [0:23:34.0]

  • The key takeaway. [0:28:21.0]

  • And much more!


“Volatility is a price you pay for long term prosperity.” @cameronpassmore [0:05:31.1]

“Diversify like crazy, get the expect return of the overall market, globally diversify, keep fees low, tilt towards the part of the market of higher expect of return.” @cameronpassmore [0:28:21.1]

Links From Today’s Episode:

Rational Reminder Website — All Episodes

Benjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/

Benjamin on Twitter — https://twitter.com/benjaminwfelix

Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/

Cameron on Twitter — https://twitter.com/CameronPassmore

Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/

Atomic Habits — https://jamesclear.com/atomic-habits

Ben Carlson — https://awealthofcommonsense.com/

Selling the Invisible by Harry Beckwith — https://www.amazon.com/Selling-Invisible-Field-Modern-Marketing/dp/0446672319

Daniel Crosby  — https://www.wealthmanagement.com/author/Daniel-Crosby

The Rational Reminder Podcast Episode 19 – Decision Making: Mental Models, Knowing Your Variables, and Achieving Positive Outcomes With Shane Parrish

Welcome back to another episode of the Rational Reminder Podcast. Our guest today is Shane Parrish. Shane runs the Farnam Street Blog, which has to be one of the most valuable collections of information that exists on the Internet. Farnam Street’s stated intention is mastering the best of what other people have already figured out and the site gets over a million visitors. The content is unbelievable in terms of improving yourself, thinking better, and learning better. Shane interviewed Ray Dalio not long ago and over time he’s spoken with some pretty serious people in his podcast, The Knowledge Project Podcast. This episode is a very peaceful, thoughtful, interesting conversation that we know listeners will love. Shane’s just got so much information in his head that we all can get a ton of value from. So, be sure to keep listening to hear more!

Key Points From This Episode:


  • What mental models are and why they’re important. [0:02:07.0]

  • Top list of mental models for making investing decisions. [0:03:39.0]

  • The most harmful biases to investors. [0:04:44.0]

  • Importance of process when making investment decisions. [0:07:51.0]

  • Why Shane uses decision journals. [0:09:11.0]

  • Being willing to look stupid. [0:12:36.0]

  • How intuition and skills go together in investing. [0:14:16.0]

  • Public markets versus private markets. [0:16:19.0]

  • Avoiding negative outcomes and having positive outcomes. [0:20:41.0]

  • Understanding uncertainty and risk. [0:24:35.0]

  • Defining happiness for himself. [0:33:15.0]

  • Lessons Shane learned about parenting . [0:36:28.0]

  • Book that Shane loves to read. [0:43:55.0]

  • [0:25:50.0]

  • And much more!



“I think we convince ourselves that we’re probably smarter than we are.” — @farnamstreet  [0:06:08.1]


“I think the ability to look stupid is an absolutely underrated aspect to not only investing but life.” — @farnamstreet[0:12:36.1]


“The absence of desire is happiness.” — @farnamstreet  [0:33:15.1]

Links From Today’s Episode:


Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582.

Shane Parrish on Twitter — https://twitter.com/farnamstreet

Farnam Street Blog — https://fs.blog/

The Knowledge Project — https://fs.blog/the-knowledge-project/

Ray Dalio — https://www.linkedin.com/in/raydalio/

Ray Dalio’s Podcast Farnam Street episode — https://fs.blog/ray-dalio/

Mental Models —  https://fs.blog/mental-models/

Berkshire Hathaway — http://www.berkshirehathaway.com/

The Daily Journal Corporation — https://www.dailyjournal.com/

Kraft Heinz — http://www.kraftheinzcompany.com/

Marcus Aurelius’s Book, Meditations — https://www.amazon.com/Meditations-Marcus-Aurelius/dp/1989201431/

The Rational Reminder Podcast Episode 18 – A Passion for Ottawa: Running, Luck, and the Ovarian Lottery with Mark Sutcliffe

Welcome back to another episode of the Rational Reminder Podcast. Our guest today is a great friend and associate, Mark Sutcliffe! Mark is a well know media personality, community worker, philanthropist, business person, and investor. He also happens to be a great speaker and listener, which probably has something to do with him hosting his own radio show. Today we are extremely excited to be able able to interview him and pick his brain on all things rational, financial, and beyond. We chat about what makes Mark tick, his passions, his motivations, and what keeps him going. From there we dive into the financial industry and hear first-hand about Mark’s own learning curve and how he currently views investing. We then turn to the subject of Ottawa and look specifically at Mark’s work in and commitment to the city. A strong theme that arises in this episode is Mark’s view of his own good fortune and we finish off our interview with a meditation on the success he has experienced and some of his ambitions for the future. For all this and much more, be sure to listen in!

Key Points From This Episode:

  • Mark’s passion and what keeps him motivated. [0:03:21.9]

  • A typical day in the life of Mark and how he gets through all this work. [0:04:34.3]

  • Mark’s forays into and experiences with investing. [0:06:44.2]

  • The gripes that Mark has with certain areas of the financial industry. [0:09:45.7]

  • Mark’s TED Talk and the role of luck in his life. [0:13:01.3]

  • Long term financial planning and how this links to the rest of Mark’s life. [0:17:17.4]

  • A big picture perspective and how this helps investors through volatility. [0:21:28.6]

  • The media’s role in public perception and culture around the markets. [0:23:07.2]

  • Mark’s current thoughts on the Ottawa business scene. [0:24:48.5]

  • The long standing association between Mark and PWL. [0:27:06.7]

  • The trend towards index investing in Canada and its growing popularity. [0:29:00.9]

  • Mark’s reflections on his successes and ambitions for the future. [0:31:19.2]

  • And much more!

Learn more and subscribe to the show at pwlcapital.com

The Rational Reminder Podcast Episode 17 – Evidence Based Investing: Sticking to Science When It Comes To Your Money

Welcome to the Rational Reminder Podcast everybody! Today on the show we welcome a good friend and someone who has had a massive influence on our lives and work. Bestselling investment author, Dan Solin, joins us on the podcast today. Dan has been a staunch advocate for evidence based investing for a long time now and although this approach is still far from dominant, it has grown immensely in the years he has been active. His focus on smart, client-centered investing has set the standard for a certain portion of advisors in the US and Canada, notably the ones hosting this show! In our conversation, we chat about Dan’s history and the foundations of his professional philosophy. We get into some of his work as a lawyer and how this influenced his overall career trajectory. Interestingly, we spend some time on the topics of happiness and kindness and their integral importance to financial success for any investor. For an inspiring and thoughtful conversation with a true industry leader, be sure to tune in!


Key Points From This Episode:

  • An overview of Dan’s career and his investing philosophy. [0:03:05.9]

  • Dan’s training as a lawyer and how this influenced his evidence based approach. [0:05:45.0]

  • The case that prompted Dan to a proactive strategy for fairness. [0:06:45.1]

  • Dan’s on air disagreement with CNBC’s Jim Cramer. [0:08:52.6]

  • Looking at the culture of active fund management in Canada. [0:10:59.1]

  • The time Dan spent on the concept of happiness in his latest book. [0:14:45.5]

  • Building trust with clients through genuine interest. [0:15:56.8]

  • Looking at the difference experiences of introverts and extroverts. [0:18:32.0]

  • The critical importance of empathy in all aspects of life. [0:19:40.7]

  • The full extent of what a wealth advisor should do. [0:21:06.9]

  • Perspective and care as two primary directives for advisors. [0:23:45.4]

  • The retirement-focussed project Dan is currently working on [0:26:05.8]

  • Dan’s own journey and struggles around happiness. [0:28:43.6]

  • And much more!

Learn more and subscribe to the show at pwlcapital.com

The Rational Reminder Podcast Episode 16 – Market Volatility

In Episode 16 of the Rational Reminder Podcast we talked about the following:

  • How bad was last week’s market volatility?

  • Should you make changes to your portfolio in this market?

  • Are people better at predicting when markets are volatile?

  • How the market prices securities

  • The economy vs. the stock market

  • When do bear markets typically occur?

  • Will passive investing exacerbate the next correction?

  • Do index funds affect price discovery?

  • The power of capitalism

  • Index reconstitution

  • Risk over the long-term

  • Quant investing does not always pass robustness tests

  • 50% of business is marketing

  • Devil’s in the HML details

  • Dimensional has thought of everything

The Rational Reminder Podcast Episode 15 – Dimensional Advanced Conference 2018

In Episode 15 of the Rational Reminder Podcast we recapped our time at the Dimensional Fund Advisors advanced conference. We recapped the following:

  • Eugene Fama

  • The history of the University of Chicago and Dimensional

  • Connecting economics with academia

  • Behavioral finance is a branch of efficient markets (according to Fama)

  • Crunching data for the first time

  • Starting the first index fund – before Vanguard

  • Volatility lessons

  • Black swans

  • Do you need a tstat of 3 in today’s world?

We referenced this paper https://www.cfapubs.org/doi/pdf/10.2469/faj.v74.n3.6

The Rational Reminder Podcast Episode 14 – An inside look at Canadian consumer debt

In Episode 14 of the Rational Reminder podcast we were joined by Martin Parizeau, a retired banking executive with extensive knowledge of Canadian consumer debt, and a PWL client. We discussed the following:

  • The start of the ETF boom

  • When proponents of active management realize they should index

  • Cutting wasteful expenses without sacrificing happiness

  • Pulling off a successful downsizing

  • Housing is not an investment

  • The real cost of owning a home

  • Defining the ideal lifestyle

  • Digging into Canadian consumer debt levels

  • The real debt to income ratio for debtors in Canada

  • Is mortgage debt always “good” debt?

  • The rising cost of debt and its effect on the economy

  • Credit card rates are justified

  • Choosing the right credit card

  • Never pay an annual fee on a credit card

  • The boom-bust lending cycle

  • Bankers saw the financial crisis coming, but had to keep going

  • Focusing on the things that you can control


The Rational Reminder Podcast Episode 13 – Unaffordable housing

In Episode 13 of the Rational Reminder podcast we discussed the following:

  • Getting into the DFA advanced conference

  • Cancelling whole life insurance

  • When permanent insurance makes sense

  • Unaffordable housing in Canada

  • Housing bubbles?

  • Bridging the gap with a HELOC

  • Undervalued financial advice

  • Money does not buy happiness

  • Defining a lifestyle

  • Walking to work

  • Active funds are still underperforming

  • Missing out on the best stocks

The Stories we talked about:


UBS Global Real Estate Bubble Index

It’s officially normal to have a big, fat balance on your line of credit

Stock Pickers Struggle to Beat Index Funds Once Again

The Rational Reminder Podcast Episode 12 – Living through the financial crisis

In Episode 12 of the Rational Reminder podcast we were joined by Doug McKenzie, an executive at a large US financial institution, and a PWL client. We discussed the following:

  • Attacking a retirement goal

  • Managing expenses before retirement

  • Toronto real estate in a retirement plan

  • Living (and working through) the financial crisis

  • The Investor’s Group Dividend Fund

  • Income investing

  • Robo advisors

  • Using prepaid credit cards for budgeting

  • CCP vs. CPM vs. DFA

  • Running regressions

  • Data sources

  • Come From Away

  • The value of knowledge and advice

The Rational Reminder Podcast Episode 11 - Simple vs. complex with Robb Engen

In Episode 11 of the Rational Reminder podcast we discussed the following:

  • Are DIY investors responsible for their actions?

  • Starting a blog

  • Switching from stock picking to index funds

  • Managing behaviour

  • The 4-minute portfolio

  • When does it make sense to optimize?

  • Index fund rebuttals

  • Fee-only vs. fee-based advice

  • Choosing a conflict of interest

  • Robb’s biggest beef with Canadian financial services

  • Trusting the bank

  • VGRO vs. robo advisors

  • One-fund retirement portfolios

We were joined by Robb Engen, author of the Boomer and Echo blog.

The Rational Reminder Podcast Episode 10 - Keep the deferred sales charge, more for us

In Episode 10 of the Rational Reminder podcast we discussed the following:

  • Grass fed beef

  • The benefits of independence

  • The Ontario government wants to keep the deferred sales charge (DSC)

  • DSC back in the day

  • The old financial advice model

  • DIY investors are responsible for their decisions

  • 1/3 of people say money is their biggest stressor

  • Locus of control

  • A better way to invest responsibly

The stories that we talked about:

The Rational Reminder Podcast Episode 9 - Dimensional’s Big Flaw

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:


The chart we talked about:


The Rational Reminder Podcast Episode 8 - Sell Everything!

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:

The charts we talked about:

Image Source: Vanguard

Image Source: Vanguard