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I'm Right and You're an Idiot

We came across a book recently called, I’m Right and You’re an Idiot, written by James Hoggan. It seemed like just another humorous title fighting for shelf space until we thought a bit more about its insights on the state of public discourse. In the world that we live in, you are not rewarded for having balanced opinions that lie within grey areas. Black or white arguments attract more tweets, likes and screen time. 

Flawed Concept?

This concept that there is only one correct answer, explains why some people struggle to make holistic financial decisions. For example, many people ask, “am I right to make an RRSP contribution or to make a lump sum payment to my mortgage?” We could easily write an article arguing vehemently for either of these strategies, and if we were bold and one-sided, we would surely attract lots of attention. However, in our opinion, there is no one solution to be applied to most financial plans. In this case, perhaps a balanced approach of making an RRSP contribution and then using your tax refund to pay down your mortgage would be more powerful over time? Maybe using a portion of this capital to prepare a will to properly deal with estate items for your family makes sense? 

Investing is no different. A fantastic story about a small company, run by a charismatic owner looking to disrupt the world is immediately attractive but rarely works out when compared to a properly diversified (boring!) portfolio. 

We prefer to spend our time figuring out the best-balanced approach you can take, backed by facts and not one-sided opinions. Will this always work perfectly? No. Will it give us the best chance to succeed? We think so, and we love seeing the results! 

Election Facts

There is no better example of polarizing views than in politics. I’m not sure if its always been that way but it certainly is now. One of the most talked about topics over the next year will be the 2020 US presidential election. With this on the horizon, we wanted to share some interesting facts on market results under the different political parties in the US. 

A Random Walk Down Pennsylvania Avenue

We welcome your question and comments!