Episode 19
This week’s episode of Mostly Money, Mostly Canadian is now available on iTunes (You have to click through to “view in iTunes”). You can also just use the embedded player or MP3 download down below to listen to it right away (you must be on this website to see it).
This week:
- A very interesting conversation with a regular reader and podcast listener. He talks about his HUGE savings habit and how he eventually transitioned from using a financial advisor to a DIY investor. He even explains how the advisor could have kept him if he had tried harder.
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Interested in being a guest?
If you would like to be a guest on the show, drop me a line at preet@preetbanerjee.com. Investors, advisors, fund managers, bloggers, whomever. Remember, it’s “mostly money” which means sometimes it won’t be about money.
I enjoyed the conversation with the DIY investor. I too had PH&N Funds and other mutual funds for years with similar results to your listener. I took another route going with DFA and work with an advisor from Ottawa.
I would like to discuss my portfolio and the DFA investment option on your podcast.
Another interesting podcast, Preet. I’m not sure I caught all the details correctly, but it sounded like your guest’s financial advisor managed to not lose any money from 2006 to 2009. Depending on the exact beginning and end dates, this may actually be a decent result. The 2-2.5% MERs are pretty bad, but some of the other details about the advisor made him sound pretty good compared to advisors I’ve worked with.
Good of your DIY investor to be interviewed. Seemed like a straightforward and very fair guy. Liked his closing statements around diversificated portfolio of companies he actually knows and, hopefully understands. And you comments about the behaviour issues of DIY. Indexing is fine, but realize you will NEVER beat the index (less the ETF fee), and be careful with the enormous tradeability of the ETF (all day long…but to what purpose?).
Hey Preet, which bank would you recommend to open an investment account with, for beginners. I want to invest mostly in dividends. I’m with BMO – is BMO good, or should I go with TD banks?
Very interesting interview! I agree that someone with his drive to save is definitely an anomaly in today’s norm of living beyond your means.
There was a lot of talk about dividend investing and equities but (other than a brief mention of preferred shares) not much discussion about how he structures the fixed-income portion of his portfolio. Does he purchase bonds directly, or perhaps through a mutual fund or ETF?
Good episode Preet! I really enjoyed the interview with your listener, it was inspiring. The Scottish accent was a nice change too ;) ! Verrry charrrming.
I wish the listener had discussed RESPs a little bit (he mentioned having kids)…how does a great investor and saver like him view this vehicle? Can RESPs be done on a DIY basis? He obviously has the means to pay for his kids’ tuition many times over, but if he doesn’t use RESPs he would be leaving any government grants on the table. Maybe you could do a quick follow up interview to discuss!!
Thanks for the great podcasts Preet!
Great podcast Preet!
The speech synthesizer was a nice touch…but I think I like Darth Vader.