Expectations Rising...
Our friend David Rosenberg recently highlighted the spread between US households’ views on “current conditions” and “future expectations” – needless to say, everyone thinks the future (at least in economic terms) is bright. It is difficult, if not impossible, to call market peaks, but the chart above does highlight how elevated expectations have become as of late.
A highly interesting piece showing how dramatically the landscape of this country is changing. To quote a few facts of note:
- Estimates suggest the rural population of Newfoundland and Labrador will decline by 19.3 per cent by 2025, while Ontario’s would go down 17.2 per cent, and B.C.’s by 12.2 per cent
- Canada-wide, about 250 local news outlets—many of them newspapers—have shuttered their operations across nearly 200 communities since 2008
- The rate of police-reported offences in rural Canada was 30 per cent higher than in urban areas, according to Statistics Canada data
We all feel changes occurring in the rural landscape, particularly those of us with family ties in more rural regions, but we were admittedly surprised by the pace of change highlighted by Maclean’s. We would not be surprised in the slightest to see rural challenges become more of a hot button political issue in the years to come.
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To the best of our knowledge, this interview from 1985 was Warren Buffett’s first TV appearance. Throughout the 7 minutes, Warren discusses investment principles that continue to remain timeless – invest in what you understand, don’t let fear and greed change your investing criteria, treat investing in a stock as though you are buying the entire company, and purchase stocks with a margin of safety.
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The last walled garden of retail, the grocery market, continues to get more interesting with each passing day.
Ray Dalio is the Founder of Bridgewater Associates, one of the world’s largest and most successful hedge funds. This year, we’re fortunate to host Co-Chief Investment Officer, Bob Prince, at the 5th annual Capitalize for Kids Investors Conference and thought many of our readers would appreciate learning about ‘how the economic machine works’ according to Ray Dalio and his firm. In it, Ray breaks down how the economy works in real and relatable terms.
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While this article from Farnam Street dates back to 2013, it provides some content worth revisiting every now and then. Many of us spend a tremendous amount of time reading the news to stay informed, without putting much thought into whether what we are reading is adding value to our lives.
‘Your attention is valuable, so why spend so much time on stuff that will be irrelevant in a few days? Read what stands the test of time. Read from publications that respect and value your time, the ones that add more value than they consume. Read what prompts you to think for yourself. Read fewer articles and more books. Read books that have stood the test of time, those that are still in print after 20 years or so’
No doubt, there is value in staying on top of some news, particularly for us in the investment world. We do however think there is a lot of noise, and it is worth thinking about where we should put on our blinders.
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