Monthly Archives: October 2014

2014 IIAC Investment Industry Hall of Fame Induction Ceremony Held Last Night

2014 IIAC Investment Industry Hall of Fame Induction Ceremony Held Last Night

More than 350 people, including some of the biggest names in the Canadian securities industry, were on hand to honour the 2014 Inductees 

Last night, the following industry legends were enshrined into the IIAC Investment Industry Hall of Fame in recognition of their outstanding achievements, integrity and leadership: 

Thomas Caldwell, C.M.Founder and Chairman, Caldwell Securities Limited

Thomas Kierans, O.C.Former President, McLeod Young Weir 

Michael TimsFormer Chief Executive Officer, Peters & Co. 

The Honourable Michael Wilson, P.C., C.C.Chairman, Barclays Capital Canada Inc.Chancellor, University of TorontoFormer Ambassador of Canada to the United States and Federal Finance Minister

POSTHUMOUS INDUCTEES 

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Warren Buffett’s Take on Professional Investors – With Input from Ben Graham and St. Peter

Warren Buffett’s Take on Professional Investors – With Input from Ben Graham and St. Peter

In Berkshire Hathaway’s 1985 Letter to Shareholders, Warren Buffett offered his thoughts on why professional investors create instability in financial markets. What follows is an excerpt from his letter:

The full letter is available here.

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On this Day…

On this Day…

On this, the infamous anniversary of the October 29, 1929 market crash, History.com has released this 2:25-minute video detailing the lead up and aftermath of this epic event.

By way of introduction:

On October 29, 1929, Black Tuesday hit Wall Street as investors traded some 16 million shares on the New York Stock Exchange in a single day. Billions of dollars were lost, wiping out thousands of investors. In the aftermath of Black Tuesday, America and the rest of the industrialized world spiraled downward into the Great Depression (1929-39), the deepest and longest-lasting economic downturn in the history … Continue reading

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The Real Cost of Capital Gains Taxes

The Real Cost of Capital Gains Taxes

Capital gains taxes stifle investment, discourage entrepreneurship, and damage Canada’s economy, notes a new essay released today by the Fraser Institute.

“While capital gains taxes raise a small amount of revenues for government, they do so at considerable economic cost by reducing returns on investment, which discourages private sector investment and entrepreneurship—two things we need more of,” said Charles Lammam, associate director of tax and fiscal policy at the Fraser Institute, which released The Economic Costs of Capital Gains Taxes in Canada, part of a … Continue reading

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Canada’s Best Jobs in Finance

Canada’s Best Jobs in Finance

In addition to its recent ranking of MBA schools (see October 15th’s post), Canadian Business has also provided a list of the top 10 best jobs in finance and business.  Without further ado, here they are.  (The job title is followed by the 5-year wage growth.)

Financial Administrator15% 

Senior Business Manager20% 

Real Estate and Financial Manager-1% 

Banking and Credit Manager27%

Business Administrative Office24%

Account Executive and Consultant10% 

Business Services Manager28%

Financial Analyst10%

Personal Financial Planner12% 

Financial Auditor and Accountant12%

A bit about the methodology:

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It’s appropriate on this, the last day of Small Business Week in Canada, we take a look at the Canadian Federation of Independent Business’ (CFIB) annual ranking of Canada’s best cities for starting and growing a business.

(As the report correctly points out, “no city would be a city if not for entrepreneurs”.)

It’s good news for Western Canada as seven of the ten are based there:  CFIB gives top billing to the communities around Calgary and Edmonton, followed closely by Saskatoon.

The complete list includes:

1. Calgary periphery

2. Edmonton periphery

3. Saskatoon

4. Regina

5. Kelowna

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Why Wall (and Bay) Street Matter to Us All

Why Wall (and Bay) Street Matter to Us All

Here’s a great read from Trish Regan making the case that Main Street and Wall Street (in our case Bay Street) are “in this together”.

Let’s face it: there’s a real divide in our country between what’s perceived as “Main Street” and what’s perceived as “Wall Street.” A new film, “We the Money” chips away at these preconceived notions and explains how we’re all in this together.

To run a business, you need capital. Money. How do you get that money? You guessed it — Wall Street.

The reality is: Wall Street and Main Street cannot exist without … Continue reading

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Our thoughts today are for the safety and well-being of everyone in our nation’s capital.

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Comparing Emerging Markets Using Key Metrics

Comparing Emerging Markets Using Key Metrics

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Here’s a handy interactive Emerging Market Marker which offers users the opportunity to compare emerging markets across key metrics by selecting from the menus on the left and bottom axes.  For example, the screen shot above shows how the emerging markets stack up in terms of debt performance.

This tool was developed by BlackRock Investment Institute.

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CSA Accepts Key IIAC Recommendations on Early Warning Proposals

CSA Accepts Key IIAC Recommendations on Early Warning Proposals

On October 10, 2014 the CSA issued an update to market participants on the status of the Draft Amendments to National Instrument 62-103 Early Warning System and Related Take-Over Bid and Insider Reporting Issues. 

The IIAC commented on the proposals in the summer of 2013. Consistent with IIAC recommendations, the CSA has advised that it will not proceed with (A) the proposal to reduce the reporting threshold from 10% to 5%, and (B) the proposal to include “equity equivalent derivatives” for the purposes of determining the threshold for early warning reporting disclosure. The final amendments to the … Continue reading

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