Episode #71: 2024 Capital Markets Year in Review: Another spectacular year!

2024 Capital Markets Year in Review: Another spectacular year!

By JAMES PARKYN & FRANÇOIS DOYON LA ROCHELLE

In this Episode, James Parkyn & François Doyon La Rochelle reviews the global capital markets performances for 2024.

They will be pulling performance data points from our market statistics page, a document you can find on our website Capital Topics, a valuable tool to follow today’s discussion and to review and assess the performance of your portfolios.

DISCOVER THE PEACE OF MIND OF KNOWING YOUR INVESTMENTS AND WEALTH ARE IN GOOD HANDS BY CONTACTING PWL CAPITAL'S PARKYN-DOYON LA ROCHELLE TEAM IN MONTREAL TODAY.

Read The Script:

1)   INTRODUCTION:

François Doyon La Rochelle:  

You’re listening to Capital Topics, episode #71!

This is a monthly podcast about passive asset management and financial and tax planning ideas for the long-term investor.

Your hosts for this podcast are James Parkyn and me François Doyon La Rochelle, both portfolio managers with PWL Capital.

In our podcast today we will review the global capital markets performances for 2024. 

Enjoy!

2) 2024 CAPITAL MARKET YEAR IN REVIEW: ANOTHER SPECTACULAR YEAR!

François Doyon La Rochelle:

Before we start, since this is our first podcast for the year, I would like to wish our audience a happy, healthy, and prosperous year in 2025.

James Parkyn:

Yes, indeed François. Happy New Year to all of our listeners and their families. Wishing them all the best.

François Doyon La Rochelle:

Now to our day's topic and as usual, we will start the year with a review of the global capital market’s performance for last year, 2024. As in prior performance review episodes, I will mostly be pulling performance data points from our market statistics page, a document you can find on our website Capital Topics in the resources section, or directly on our team’s page on the PWL Capital website. We believe it is a valuable tool to follow today’s discussion and to review and assess the performance of your portfolios.…Read More

Links:

- When a Crystal Ball Isn't Enough to Make You Rich - Elm Partners by Victor Haghani, James White and Jerry Bell – Elm Wealth Management

- Crystal Ball Trading Challenge - Elm Partners by Elm Wealth Management

Episode #70: Can a Crystal Ball Really Make You Rich?

Can a Crystal Ball Really Make You Rich?

By JAMES PARKYN & FRANÇOIS DOYON LA ROCHELLE

In this Episode, James Parkyn & François Doyon La Rochelle will be covering a recent study by Victor Haghani and James White from Elm Partner Management in the U.S. The study's title is “When Having a Crystal Ball Isn’t Enough to Make You Rich.”

Having that crystal ball to predict markets is every investor’s dream. But is having that crystal ball enough to make us rich?

DISCOVER THE PEACE OF MIND OF KNOWING YOUR INVESTMENTS AND WEALTH ARE IN GOOD HANDS BY CONTACTING PWL CAPITAL'S PARKYN-DOYON LA ROCHELLE TEAM IN MONTREAL TODAY.

Read The Script:

1)   INTRODUCTION:

François Doyon La Rochelle:  

You’re listening to Capital Topics, episode #70! 

This is a monthly podcast about passive asset management and financial and tax planning ideas for the long-term investor.  

Your hosts for this podcast are James Parkyn and me François Doyon La Rochelle, both portfolio managers with PWL Capital. 

In our podcast today we will review a study from Elm Wealth Management entitled “When a Crystal Ball Isn’t Enough to Make You Rich”. 

Enjoy! 

2) CAN A CRYSTAL BALL REALLY MAKE YOU RICH?

François Doyon La Rochelle: 

We have often mentioned on our podcast that we don’t have a crystal ball and that without one or the benefit of hindsight, it’s tough to know with certainty where the markets are heading. Having that crystal ball to predict markets is every investor’s dream. But is having that crystal ball enough to make us rich?

We will cover that topic today based on a recent study by Victor Haghani and James White from Elm Partner Management in the U.S. The study's title is “When Having a Crystal Ball Isn’t Enough to Make You Rich.”…Read More

Links:

- When a Crystal Ball Isn't Enough to Make You Rich - Elm Partners by Victor Haghani, James White and Jerry Bell – Elm Wealth Management

- Crystal Ball Trading Challenge - Elm Partners by Elm Wealth Management

Episode 69: 2024 Year- End Tax Planning

2024 Year- End Tax Planning

By JAMES PARKYN & FRANÇOIS DOYON LA ROCHELLE

In this Episode, James Parkyn & François Doyon La Rochelle will be reviewing Year-End Tax Planning strategies highlighting the 2024 Federal Budget proposed changes on Capital Gains Tax. 

DISCOVER THE PEACE OF MIND OF KNOWING YOUR INVESTMENTS AND WEALTH ARE IN GOOD HANDS BY CONTACTING PWL CAPITAL'S PARKYN-DOYON LA ROCHELLE TEAM IN MONTREAL TODAY.

Read The Script:

1)   INTRODUCTION:

François Doyon La Rochelle:  

You’re listening to Capital Topics, episode #69! 

This is a monthly podcast about passive asset management and financial and tax planning ideas for the long-term investor.  

Your hosts for this podcast are James Parkyn and me François Doyon La Rochelle, both portfolio managers with PWL Capital. 

In our podcast today we will review Year- End Tax Planning strategies highlighting the 2024 Federal Budget proposed changes on Capital Gains Tax. 

Enjoy! 

2) 2024 YEAR-END TAX PLANNING:

François Doyon La Rochelle: 

Well, it’s that time of the year again to cover Year-end Tax Planning Strategies for Investors in Capital Market Securities. Our regular Listeners know this is an annual tradition on our Podcast to cover this topic at year-end.  But this year the big tax planning challenge is that there is a lot of uncertainty surrounding capital gains tax rules.  Most of our Listeners know that the 2024 Federal Budget introduced major changes with the New Capital Gains Tax rules. At the Personal tax level, The Capital Gains inclusion rate was increased from 50% taxable to 66 2/3% for gains realized over $250,000.  The new rules for capital gains realized in corporations or a Trust are even harsher whereby all realized gains will be taxed at the higher 66 2/3% inclusion rate. These new rules completely upend the planning for investors with assets in their corporations and for estates.  To make matters more complicated, the New Capital Gains Tax Legislation is delayed, and some are speculating it may not be passed before year-end.   There is a lot to discuss, and as usual careful planning will be required. So, James, where would you like to start?…Read More

Links:

- CIBC – Just leave it! Corporate Versus personal capital gains investing by Jamie Golombek – CIBC Private Wealth

- Episode 58: Year-End Tax Planning and Update on Canada’s Major Pension Plans by James Parkyn & François Doyon La Rochelle – Team Parkyn-Doyon La Rochelle – PWL Capital

- Episode 52: The New Tax-Free First Home Savings Account (FHSA) and Review of the Credit Suisse Global Investment Returns Yearbook 2023 - Summary Edition by James Parkyn & François Doyon La Rochelle – Team Parkyn-Doyon La Rochelle – PWL Capital

Episode 68: Proof That Investor Behavior Has a Negative Impact on Their Performance

Proof That Investor Behavior Has a Negative Impact on Their Performance

By JAMES PARKYN & FRANÇOIS DOYON LA ROCHELLE

In this Episode, James Parkyn & François Doyon La Rochelle will be reviewing the Morningstar U.S Mind the Gap 2024 report. 

This report highlights how investor mistiming the market had an impact on their performance. 

DISCOVER THE PEACE OF MIND OF KNOWING YOUR INVESTMENTS AND WEALTH ARE IN GOOD HANDS BY CONTACTING PWL CAPITAL'S PARKYN-DOYON LA ROCHELLE TEAM IN MONTREAL TODAY.

Read The Script:

1)   INTRODUCTION:

François Doyon La Rochelle:  

You’re listening to Capital Topics, episode #68! 

This is a monthly podcast about passive asset management and financial and tax planning ideas for the long-term investor.  

Your hosts for this podcast are James Parkyn and me François Doyon La Rochelle, both portfolio managers with PWL Capital. 

In our podcast today we will review the Morningstar U.S. Mind the Gap 2024 report which highlights how investor mistiming the market has an impact on their performance.   

Enjoy! 

2) PROOF THAT INVESTOR BEHAVIOR HAS A NEGATIVE IMPACT ON THEIR PERFORMANCE:

François Doyon La Rochelle: 

For our topic today, we will look at the results of the latest Mind the Gap report from Morningstar. This report analyzes the difference between the returns reported by U.S. mutual funds and exchange-traded funds compared to the returns obtained by investors. The latest report, released on August 15th, covers the 10 years ending on December 31, 2023. 

James Parkyn:  

Francois, I think our listeners will find this topic very useful. We alluded to it at the end of our podcast #63. In that podcast, we covered the performance results of actively managed funds against their respective passive counterparts, and we touched upon the spectacular growth in the market share of passive funds. …Read More

Links:

- Mind the Gap 2024: A Report on Investor Returns in the US | Morningstar by Morningstar 

- Episode 63: Active vs Passive 2023 management results & 2024 federal budget review — Capital Topics by James Parkyn & François Doyon La Rochelle – Team Parkyn-Doyon La Rochelle – PWL Capital 

Episode 67: Why owning individual stocks in a portfolio has a high probability of a negative outcome

Why owning individual stocks in a portfolio has a high probability of a negative outcome

By JAMES PARKYN & FRANÇOIS DOYON LA ROCHELLE

In this Episode, James Parkyn & François Doyon La Rochelle will be reviewing a paper published in July 2024 by professor Hendrik Bessembinder titles “Which U.S. Stocks Generated the Highest Long-Term Returns?”. 

His findings in this research paper make the case that owning individual stocks in a portfolio has a high probability of a negative outcome. 

DISCOVER THE PEACE OF MIND OF KNOWING YOUR INVESTMENTS AND WEALTH ARE IN GOOD HANDS BY CONTACTING PWL CAPITAL'S PARKYN-DOYON LA ROCHELLE TEAM IN MONTREAL TODAY.

Read The Script:

1)   INTRODUCTION:

François Doyon La Rochelle:  

You’re listening to Capital Topics, episode #67! 

This is a monthly podcast about passive asset management and financial and tax planning ideas for the long-term investor.  

Your hosts for this podcast are James Parkyn and me François Doyon La Rochelle, both portfolio managers with PWL Capital. 

In our podcast today we will review the findings from a research report from Dr. Hendrik Bessembinder published in July 2024 entitled “Which U.S. Stocks Generated the Highest Long-Term Returns?”  

Enjoy! 

2) WHY OWNING INDIVIDUAL SOCKS IN A PORTFOLIO HAS A HIGH PROBABILITY OF A NEGATIVE OUTCOME  :

François Doyon La Rochelle: 

We are back after a short summer break, I hope our listeners also enjoyed some time off. I will start this off.  We believe our listeners will find Today’s topic very insightful.  The mantra about stocks is that in the long run, you will make money despite the volatility in the short term.  What gets lost in translation about this fundamental investing belief is that it only really applies to buying the market.  Our regular Listeners know we preach broad market ETFs as optimal for most individual investors.  So, it was interesting to see research that strongly supports this investing strategy.  This summer an academic financial economist we follow, Dr. Hendrik Bessembinder - a professor at Arizona State University’s W.P. Carey School of Business - published a paper that makes the case that owning individual stocks in a portfolio has a high probability of a negative outcome.  James, why don’t you report on Professor Bessembinder’s findings?  …Read More

Links:

- Which U.S Stocks Generated the Highest Long-Term Returns? by Hendrik Bessembinder at Department of Finance, W.P. Carey School of Business – Arizona State University