Juggling Dynamite

Danielle was a guest today with Phil Mackesy on Talk Digital Network discussing recent developments in the world economy and markets.  You can listen to an audio clip of the interview here.

As risk sellers press their typical taunts urging people into their equity and “growth” based (higher fee) products, loss-averse turtles who have taken a fraction of the capital risk over the past 12 years have quietly, humbly, lapped the hares and slept at night. The chart below plots the XBB (top line), a Canadian bond ETF that tracks the DEX index of investment grade Canadian bonds as against major global equity indices (S&P 500, TSX, EFA, and Shanghai comp) since 2000 when our secular bear in stocks began. Proving yet again that risk is not rewarding when bought at too high a price, and slow and steady has handily won the day.  Boring old bonds indeed…

Source: Cory Venable, CMT, Venable Park Investment Counsel Inc.

Last week I had the pleasure of speaking with Jonathon Roth in Vancouver. Good questions make for lively discussion and in a sound bite world, 20 minutes is luxurious. Here is the direct link.