Table of Contents
Eight Common Investment Pitfalls
Being Aware is Half the Battle |
Ten Principles of Successful Investing
Bringing The Details Together And Making It Work |
The Emperor Has No Clothes
Learn to Recognize Conflicts of Interest in the Financial Services Industry |
Pension Funds and your Personal Asset Mix
Finding The Right Balance |
Investment Principle 1: Invest in Asset Classes
Market Timing, Stock Picking, and Asset Class Investing |
Alternative Investing
Risky Business |
Investment Principle 2: Diversify
Diversify Your Wealth Among Different Asset Classes |
International Investing (Part 1)
Five Good Reasons to Spread Your Wealth |
Investment Principle 3: Realize That Risk and Return Are Related
The Fama/French 3-Factor Model |
International Investing (Part 2)
What About the Canadian Dollar? |
Choose your Investment Tools Wisely
The Power of Asset Class Investment Tools |
Core and Explore
A Slippery Slope |
Why Index or Passive Management Outperforms Active Management
Mutual Funds and Stock-Picking Investment Counsellors Are No Longer Sacred Cows |
The Boom in Exchange Traded Funds
Enough is Enough |
Pay Attention to Investment Management Costs and Taxes
Fees, Commissions, and Taxes Can Cripple Your Returns |
The Million-Dollar Question
Future Returns |
Create an Investment Policy Statement
Your Personal Road Map to Discipline, Structure, and Success |
The Joys of Home Ownership
A Closer look at the Spectacular Rise in Real Estate |
Co-ordinate Your Investment Plan With Your Life Plan
Money and Life Work Together |
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Chapter 1
Eight Common Investment Pitfalls
Being Aware is Half the Battle
- Pitfall 1: Lack of an Investment Plan
- Pitfall 2: Not Aligning Your Investments with Your Personal Objectives
- Pitfall 3: Miscalculating Your Investment Time Horizon
- Pitfall 4: Trying to Profit by Timing the Market
- Pitfall 5: Buying High and Selling Low
- Pitfall 6: Lack of Proper Diversification
- Pitfall 7: Building Portfolios Based on Bold Predictions
- Pitfall 8: Letting Behavioural Biases Get in the Way
Chapter 2
The Emperor Has No Clothes
Learn to Recognize Conflicts of Interest in the Financial Services Industry
- Government Report Reveals Conflicts of Interest
- Conflicts in Financial Advice
- Conflicts in Brokerage Firm Research
- Conflicts in the Mutual Fund Industry
- Becoming an Empowered Investor
Chapter 3
Investment Principle 1: Invest in Asset Classes
Market Timing, Stock Picking, and Asset Class Investing
- Asset Class Investing Should Be the Foundation of Your Portfolio
- Asset Class Investing
- Asset Class Investing is the Healthy Alternative
Chapter 4
Investment Principle 2: Diversify
Diversify Your Wealth Among Different Asset Classes
- The Simple Beauty of Portfolio Theory
- The Benefits of Implementing Portfolio Theory
- Choosing Your Asset Classes
Chapter 5
Investment Principle 3: Realize That Risk and Return Are Related
The Fama/French 3-Factor Model
- The Three Risk Factors That Drive Returns
- "Cost of Capital" Drives Your Risk/Return Ratio
- Improve Your Portfolio: Think Value
- Improve Your Portfolio: Think Small
Chapter 6
Choose your Investment Tools Wisely
The Power of Asset Class Investment Tools
- Choosing Your Asset Class Investment Tools
- Empowered by Precise Asset Class Investment Tools
- Innovation and Evolution of Asset Class Tools
- What the Experts Say about Indexed Investing
Chapter 7
Why Index or Passive Management Outperforms Active Management
Mutual Funds and Stock-Picking Investment Counsellors Are No Longer Sacred Cows
- Beware of Survivorship Biases in "Median Manager Averages"
- The Great Canadian Banks
- What About the Star Managers?
- Smoke and Mirrors: Compare the Stars to the Risk Factors in Their Portfolios
- Searching for Stars can Lead to Chasing Performance
- Is There a Better Alternative
Chapter 8
Pay Attention to Investment Management Costs and Taxes
Fees, Commissions, and Taxes Can Cripple Your Returns
- Managing Your Cost Structure and Tax Efficiency
- How Should an Individual Investor Manage the Total Cost?
- Managing Your Taxes (After-Tax, After-Tax, After-Tax)
- Studies Support Low-Turnover Index Strategies
- The Power of Compounding
Chapter 9
Create an Investment Policy Statement
Your Personal Road Map to Discipline, Structure, and Success
- An Investment Policy Statement Is All About You
- The details of an IPS
Chapter 10
Co-ordinate Your Investment Plan With Your Life Plan
Money and Life Work Together
- One Size Doesn't Fit All
- Empowerment Comes from Control and Understanding
- How Do You Know If You Need a Financial Plan?
Chapter 11
Ten Principles of Successful Investing
Bringing The Details Together And Making It Work
- Making the Principles Work
- Ten Principles of Successful Investing
- The Origins of These Principles
- You and Your Investments
Chapter 12
Pension Funds and your Personal Asset Mix
Finding The Right Balance
Chapter 13
Alternative Investing
Risky Business
- Hedge Funds
- Biases in Historic Returns
- Wide Dispersion of Returns
- Lack of Performance Persistence
- High Level of Hedge Fund Demise
- Private Equity or Buyout Firms
- Venture Capital
- David Swensen A Final Word of Warning
Chapter 14
International Investing (Part 1)
Five Good Reasons to Spread Your Wealth
Chapter 15
International Investing (Part 2)
What About the Canadian Dollar?
Chapter 16
Core and Explore
A Slippery Slope
Chapter 17
The Boom in Exchange Traded Funds
Enough is Enough
- How Did We Get Here?
- Mixed Messages
- Keep Your Eye On The Ball
The Million-Dollar Question
Chapter 19
The Joys of Home Ownership
A Closer look at the Spectacular Rise in Real Estate
- Home Value by the Numbers
- Real Families, Real Gains
- Long-term Outlook for Canadian Home Prices
- History and Perspective Can Help Us Make Smart Decisions
- History of Portfolio Theory and Investment
- Management Breakthroughs
- Recommended Books
- Checklist to Help You Choose a Financial Advisor
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