Lessons

Janet was inconsolable. “Get me out,” she said a few times. “I want to be in cash.” And so it was. Another person unable to overcome emotion. One more victim of the Dow. And the media. It’s a story that’s repeated every single time a bout of volatility grabs the headlines.

As you may have noticed, if the Dow index loses 300 points the media response is “MARKETS PLUNGE!” When the Dow gains 300 points, the story is… well… there isn’t one. That’s not news.

This may be because over 70% of the time financial markets advance, people make money and are able to buy houses, raise families, pay for college and finance their retirement. Markets rise because the world grows. Growth means more jobs, economic activity, expansion, consumption and profits. That’s normal. And never in human history have people lived in more prosperous times than these.

So it’s news when stuff goes down. Even if history has proven that every single time the decline is temporary, and usually useful. It blows off the gamblers and speculators, pricks asset bubbles, brings prices back into line with incomes and, of course, provides one muddah of an investment opportunity. Every time the market seriously corrects, it has rallied about 40% over the next two years.

But some can’t see beyond the headlines. Fear is fear. The strongest emotion. It makes people do crazy things, like turning a temporary paper loss into a permanent real one.

Here at the Greater Fool Brain Trust and Dog Ranch we have two messages today: first, the Dow is not ‘the market.’ It’s a gauge of merely 30 companies trading in New York. The S&P 500 is more representative, but there are a number of other indices tracking, for example, small-cap companies (those with less in market capitalization) or the tech heavies. The US has 13 exchanges, and there are dozens more around the world just for equities (like the TSX on Bay Street). They don’t all move in harmony. Therefore smart investors have a diversified approach – exposure to Canadian, American and International markets (including emerging ones), and do it through ETFs, rather than single stocks.

So the next time you hear the TV talking head with the nice hair equate the Dow with everything financial, just smile to yourself and whisper ‘moron.’ It works.

Okay, message two: markets are not just stocks. For months now this pathetic blog has been harping on bonds, explaining why you should have some. No, not to collect interest. Nobody buys bonds for yields any more. Instead they’re assets that reduce volatility, counterweight stocks, drop risk and help preserve wealth. All you need do is look at some bond ETFs over the past month, or for the YTD.

As equities stagger and growth slows, money flows into bonds. So the price goes up and the yield goes down. That’s why we’re hearing about this ‘inverted yield curve’ all the time – so much money has found its way into the bond market that 30-year yields are now lower than what your savings account pays. But bond prices have zipped higher. If you have the right kind of bond ETFs in your portfolio, you know this. For example, the WisdomTree Yield Enhanced Canada Aggregate Bond Index ETF is worth 9% more in the last seven months. And it’s not alone. As stock-based assets have temporarily come down, bond-based ones have advanced. It’s why you should have a balanced portfolio. How is this not obvious?

Well, Janet doesn’t get it. Or care. Like many people she thinks (a) it’s different this time and history doesn’t matter, plus (b) markets can go to zero and never recover. If that happened, of course, we’d all be braiding grass and eating bugs. Financial markets reflect life, society and human labour. If you have the confidence to accept the monumental danger in getting married, having kids, starting a business, planting a crop or running an open blog attracting scores of misfits, then staying invested is a minor thing.

Remember the real risk. You know what it is. Losing money doesn’t even come close.

Now, I see that my colleague and fancy portfolio manager Ryan has just come down from the private helo pad. He appears to be carrying a big chart.

Hey, bud, have you got a technical update for us on the stock market?

Big day yesterday but no real technical damage. The SPX has broken through its 50-day MA and is now approaching the important 200-day MA around 2800. The key technical support range is 2725 to 2800, which is the combination of past support lows (blue arrows – Mar and May lows), the important 200-day MA and the 38.2% Fibonacci retracement level. When a number of technical supports converge to one key zone it increase its importance. Also we’re getting close to an oversold technical reading with just 26% of stocks in the S&P 500 above their 50-day MA (below 30 indicates oversold) and the RSI level is at 38 (needs to get below 30 to be oversold). So we could see a bit more selling pressure but my bet is the SPX bounces off the 2725-2800 technical support zone. If correct we then need to see the SPX retake its 50-day MA to then give the all clear sign.

Click to enlarge. Stand back.

Any questions? Good. Now let’s take Janet clubbing.

About the picture

A group of service dogs in training attend a performance at the Stratford Festival. On the job they’ll be expected to navigate places like this, sitting in confined spaces for long periods of time, ignoring flashing lights, food, loud noises and attending to the needs of their human companions. Source: CBC

142 comments ↓

#1 Mr Fundamental on 08.15.19 at 4:44 pm

When the market goes down, I buy. When the market goes up, I buy. I never sell. Easy.

#2 Sask to AB on 08.15.19 at 4:50 pm

Great post today, Garth. Thanks for the sage advice.

F56AB

#3 Red_falcon on 08.15.19 at 4:52 pm

Yes more down means more buying good stocks at bargain basement prices.

And…. first!!

#4 Stratford Festival on 08.15.19 at 4:55 pm

Cameras are strictly disallowed, and must be handed in before a performance begins.

#5 Howard on 08.15.19 at 4:55 pm

And never in human history have people lived in more prosperous times than these.

—————————

Except for the 1920s, 1950s, 1960s, 1970s, 1980s, 1990s, and 2000s. For the middle class anyway.

Aside from that, most prosperous time in history.

Spoken like a true, myopic, navel-gazing, entitled, narcissistic Millennial. – Garth

#6 Damifino on 08.15.19 at 4:55 pm

If you have the confidence to accept the monumental danger in getting married, having kids, starting a business, planting a crop or running an open blog attracting scores of misfits, then staying invested is a minor thing.
———————————–

Suitable for framing.

#7 Uncle Rico on 08.15.19 at 4:56 pm

Your Uncle Rico is first, Garth.

#8 Gen Z on 08.15.19 at 5:10 pm

I’m Gen Z, and if you’re a male and under 6 foot tall, no one wants to even acknowledge or accept you here in Toronto. Tall men have higher salaries, a better quality of life and they save more money.

What use is the stock market when the financial advisor discriminates against you, the landlord discriminates against you and the job market discriminates against you because you haven’t hit the 6 foot tall mark?

Nobody wants you if you’re under 6 feet tall. They view you as like how one views fresh dog poo on the sidewalk, with avoidance.

Have you considered Miracle-Gro®? – Garth

#9 mitzerboyakaQueencitykidd on 08.15.19 at 5:17 pm

Wow … i luv Dogs

#10 jess on 08.15.19 at 5:18 pm

The Globe reported that the money helped the wealthy Gupta family, which has been closely connected to Zuma, buy a $52-million Global 6000 jet from Montreal-based Bombardier.”

OTTAWA — Canada’s export credit agency says it regrets its 2015 decision to lend US$41 million to a South African company owned by members of a family facing corruption allegations related to their ties to former president Jacob Zuma

=========================

dubbed the Dubai Laundromat,
https://www.gupta-leaks.com/
exposed how kickbacks were paid or facilitated to the Guptas by foreign companies throughout the world.
lifted the lid on a multinational money laundering machine,
They include a Swiss construction company, two German IT giants, a multinational management consultancy, a Chinese state outfit, and a major accounting firm.
https://www.gupta-leaks.com/atul-gupta/why-you-should-care-about-the-guptaleaks-an-international-view/

Category
Bell Pottinger
As the public outcry against the Guptas reached a crescendo last year, UK public relations firm Bell Pottinger – founded by Margaret Thatcher’s former PR guru Lord Tim Bell – stepped into the breach to spin for the Guptas on a £100,000-a-month contract.So, despite the mountain of dirty laundry already in the public domain about the Guptas relationship with Zuma, the firm accepted a brief – partly in consultation with Zuma’s son Duduzane – to run a counter-campaign blaming white-owned businesses for perpetuating “economic apartheid” in South Africa.Somehow, it was “white monopoly capital” standing in the way of genuinely aspirant black businessmen – like the immigrant Gupta family – from fulfilling their full economic potential in the country.Bell Pottinger now stands accused of stoking racial tension in the country, aimed at its white population in general and at the media in particular.

Intimidation of journalists

https://www.gupta-leaks.com/atul-gupta/why-you-should-care-about-the-guptaleaks-an-international-view/

#11 expat on 08.15.19 at 5:21 pm

If people held for the last year they made nothing. Maybe 2%

For 18 months these stock markets have not gone anywhere for those who held

Your chart shows that

Just saying

No if they had bonds they did well

#12 Weight of the World on 08.15.19 at 5:24 pm

#8 Gen Z on 08.15.19 at 5:10 pm

I’m Gen Z, and if you’re a male and under 6 foot tall, no one wants to even acknowledge or accept you here in Toronto. Tall men have higher salaries, a better quality of life and they save more money.

What use is the stock market when the financial advisor discriminates against you, the landlord discriminates against you and the job market discriminates against you because you haven’t hit the 6 foot tall mark?

Nobody wants you if you’re under 6 feet tall. They view you as like how one views fresh dog poo on the sidewalk, with avoidance.

Have you considered Miracle-Gro®? – Garth
….

Putin and Napoleon were short…….. didn’t stop them.

Just hang weights from your feet as you sleep… problem solved.

#13 The Wet One on 08.15.19 at 5:27 pm

As a counterpoint to this generally rosy post of your Garth, I would say this, if we have a full scale nuclear war where every possible nuclear weapon is exchanged and mushroom clouds go up all over the world, the optimism here is probably misplaced.

Second, if we have an ecological collapse and resultant natural resource scarcity (like food or water), probably the market always going up won’t help. Global agricultural collapse, would in short order, erase whatever gains the economy as made over the years (namely when 1/2 the species dies of hunger).

So there are real things out there to fear in respect of our well being, but the gyrations of the markets, indeed, aren’t really one of them.

Cheers!

#14 Dolce Vita on 08.15.19 at 5:27 pm

Great advice, as usual Garth.

Still livid with Mr. Above the Law Trudeau. He needs to resign.

And I almost forgot, HAPPY WOODSTOCK 50th fellow wrinklies.*

How time flies.

——————————————-

*PBS did a pretty good job with their American Experience “Woodstock”. Film footage great as was the story.

https://www.pbs.org/video/woodstock-kshqlw/

#15 SmarterSquirrel.com on 08.15.19 at 5:27 pm

Love the pic Garth. When I decided I didn’t want to drive my 2001 Jetta anymore after owning if for 16 years, I donated it to the the Canadian Guide Dogs for the Blind. In my mind, a very worthy cause. http://guidedogs.ca And there was still a couple thousand dollars worth of value in the car so I was happy to have it go towards that cause.

#16 espressobob on 08.15.19 at 5:29 pm

Buying into fear is how profit is made.

Easy. Works every time.

#17 theoryAndPractice on 08.15.19 at 5:33 pm

CNBC today had two main headlines in the morning with total contradiction,first one was all markets went down because China retaliates. (news for the numbers it was in red zone.) and then within minutes , something like China is going to find middle way etc, so as you guess it was green that time. Complete BS as usual. So the news altered for the reasoning of color not for the reality.

Too much AI driven crap like news and buy/sell algorithms.

So it is either bad or good, there is no change in the economic status between seconds. It doesn’t work that way.

Any of these news from media outlets should not be the driver. Do your diligent research and go your on way.

#18 BobC on 08.15.19 at 5:35 pm

I just repeat to myself something you said awhile back:
Do you appraise your house every week?
Then I go on with my day and forget about it.

#19 Mr Fundamental on 08.15.19 at 5:42 pm

“If people held for the last year they made nothing. Maybe 2%”

This is a long-term game. Results from the last year are meaningless. Give me results from 10/20/30 year periods and I might be interested. Have you considered a 100% equity portfolio?

MrF

#20 LP on 08.15.19 at 5:47 pm

This same pic was a featured item on the Kitchener CTV news affiliate this evening.

F72ON

#21 Bytor the Snow Dog on 08.15.19 at 5:48 pm

#8 Gen Z on 08.15.19 at 5:10 pm sez:
“I’m Gen Z, and if you’re a male and under 6 foot tall, no one wants to even acknowledge or accept you here in Toronto. Tall men have higher salaries, a better quality of life and they save more money.

What use is the stock market when the financial advisor discriminates against you, the landlord discriminates against you and the job market discriminates against you because you haven’t hit the 6 foot tall mark?

Nobody wants you if you’re under 6 feet tall. They view you as like how one views fresh dog poo on the sidewalk, with avoidance.”
———————————————-
So, just say you’re six feet tall. Project it with confidence. As long as you’re an average height male (5′ 9″) no one will call you out on it, at all. What are they gonna do, break out a tape measure?

#22 slam on 08.15.19 at 5:49 pm

#11 expat on 08.15.19 at 5:21 pm
“If people held for the last year they made nothing. Maybe 2%”

Do you consider the dividends/interest collected in the 2% or just the share price? Some investments have relatively flat share prices so charts are not as meaningful. These types of investments normally have higher yields.

Buying during the dips actually gives you a higher yield (more dividends/interest)

So during accumulation phase, it’s great to see the dips.

During the withdraw phase, your portfolio may have been allocated more towards cash/bonds vs equities so your portfolio isn’t impacted as much during the dips.

#23 Buy Low Sell High on 08.15.19 at 5:55 pm

Is the cannabis sector oversold and ripe for buying?
What’s your favourite company?

#24 Gordon on 08.15.19 at 5:55 pm

Braiding grass lol

#25 Blue angel on 08.15.19 at 5:57 pm

the correlation between Dow and SP500 is 90-95% identical. so one or the other gives you a good idea of ​​the direction of the American market. in 1987, during the crash, the SP500 fell by 20% and the Dow by 22%. for me it was clear that my novice portfolio had just eaten a bad beating and had to wait for the newspaper the next day to see the damage. the phone lines were constantly busy that day!

#26 Smartalox on 08.15.19 at 5:59 pm

@ Gen Z: the secret to walking tall is to keep your chin up. Make eye contact. Mile and be nice. It’ll do more for you than adding six inches to your height.

Respect is a unique and curious asset: the more freely you give it, the more you get in return!

#27 Smartalox on 08.15.19 at 6:02 pm

Sorry, I meant SMILE and be nice. My bad.

Also: a little humility never hurts, either

#28 crowdedelevatorfartz on 08.15.19 at 6:08 pm

@ Bark
“Reading chicken entrails is about as effective as using technical analysis.”
+++++

Why waste a perfectly good chicken when roadkill is just as effective?

#29 theoryAndPractice on 08.15.19 at 6:17 pm

#8 Gen Z on 08.15.19 at 5:10 pm

I’m Gen Z, and if you’re a male and under 6 foot tall,…
========

Wrong, what matters is in between your shoulders.

#30 Deal of the decade on 08.15.19 at 6:23 pm

1. Buy SNC around $17
2. Trudeau gets 4 more years
3. SNC gets the DPA
4. Sell at $54

#31 Marco on 08.15.19 at 6:25 pm

#8 Gen Z on 08.15.19 at 5:10 pm

I’m Gen Z, and if you’re a male and under 6 foot tall, no one wants to even acknowledge or accept you here in Toronto. Tall men have higher salaries, a better quality of life and they save more money….
….

Yeah, short people are oppressed.
They’re always getting overlooked.

#32 Best dog picture on 08.15.19 at 6:40 pm

EVER.

#33 Sold Out on 08.15.19 at 6:41 pm

#8 Gen Z

Try re-writing your little rant, but instead of “under 6 foot tall”, insert any descriptor from this list:

-immigrant
-diabetic
-disabled
-left-handed
-elderly
-mentally ill
-not convetionally attractive
-you get the idea

Everyone on this list has undoubtedly suffered discrimination, at one time or another. Cheer up, platform shoes could make a come back next week.

#34 Tyberius on 08.15.19 at 6:48 pm

Janet was inconsolable. “Get me out,” she said a few times. “I want to be in cash.”

You’ve got Janet Yellen as a client? Whoa!!

#35 Bytor the Snow Dog on 08.15.19 at 6:49 pm

#13 The Wet One on 08.15.19 at 5:27 pm sez:
“As a counterpoint to this generally rosy post of your Garth, I would say this, if we have a full scale nuclear war where every possible nuclear weapon is exchanged and mushroom clouds go up all over the world, the optimism here is probably misplaced.

Second, if we have an ecological collapse and resultant natural resource scarcity (like food or water), probably the market always going up won’t help. Global agricultural collapse, would in short order, erase whatever gains the economy as made over the years (namely when 1/2 the species dies of hunger).

So there are real things out there to fear in respect of our well being, but the gyrations of the markets, indeed, aren’t really one of them.

Cheers!”
———————————————-
STEP 1: Outline a scenario of extremely rare events that might lead to global apocalypse.

STEP 2:

Cheers!

Errr…….

#36 August 15, 1971- A Day which Lives in Infamy on 08.15.19 at 6:51 pm

“In their impossibly good book Money, Markets, and Sovereignty (2009), Benn Steil and Manuel Hinds make the point that over the last four thousand years, the only period in which humanity has not consistently based its currency in metal, specifically gold, is the last forty. That’s right. Ever since President Richard M. Nixon announced forty years ago today, on August 15, 1971, that the U.S. would no longer officially trade dollars for gold, we have been enjoying a new era of human history.”

Link:
https://www.forbes.com/sites/briandomitrovic/2011/08/14/august-15-1971-a-date-which-has-lived-in-infamy/#720da573581a

#37 Francis Holland on 08.15.19 at 6:53 pm

I am 60 years old and as a young adult getting married, going to work for 37 years and raising 3 kids, mutual funds, bonds, stocks and stock markets were never an issue with most people in the 60’s, 70’s, 80’s even most of 90’s too. Now, it is the only thing people can do with their money or they are weird, strange or not with the crowd to not have money in the markets.

It seems to fishy to me that they are forcing everyone into stock markets and bond markets through mutual funds, ETF’s etc. at the same time. This time will be different as we are all be ending up like Japan, malaise type economy long term. You will all see.

#38 Blog Bunny on 08.15.19 at 6:57 pm

”For 18 months these stock markets have not gone anywhere for those who held.”

I still collected a boatload of dividends. Bought some more today and yesterday with the latest paycheck.

#39 Camille on 08.15.19 at 7:15 pm

Good post. US 10 year now little lower than yesterday. We’ve been there before, or close. Think stock picker and specialized ETFs will be in fashion, i.e. picking ETFs. It’s going to get harder I think and run of the mill ETF investors will become what mutual fund investors are. Medium risk, medium returns and high fees. Look at Kraft Heinz selling products maybe more fit to the sixties. And banks becoming coffee shops and real estate. Big guys will have same problem. Look at Caisse de Depot. Anyway…

#40 Yanniel on 08.15.19 at 7:17 pm

I heard tarot reading works.

#41 Christie Dion on 08.15.19 at 7:24 pm

Isn’t Japan known for the lost decade. It looks more like the lost decades the way their markets crashed and never recovered 100%.

Actually, Hong Kong is looking that way too with the Hang Seng index was 33,000 back in 2007 and today it closed at 25,495 down 23%.

#42 Yuus bin Haad on 08.15.19 at 7:26 pm

Thank Janet for being on the other side of our trades.

#43 Break a Leg on 08.15.19 at 7:27 pm

“… if you’re a male and under 6 foot tall, no one wants to even acknowledge or accept you here in Toronto.”

So? Move, get taller, or be one of those “woe is me” mopes who isn’t willing to pay the price to get what he wants or thinks he deserves.

Seriously, break a leg.

P.S. Garth ain’t exactly Wilt Chamberlain. Were you TRYING to insult our gracious host?

#44 Flop... on 08.15.19 at 7:27 pm

Sail Away at 12:17 pm
#111 Mattl on 08.15.19 at 10:52 am
#63 Flop… on 08.14.19 at 8:25 pm
#54 yvrmc on 08.14.19 at 7:58 pm

—————————————–

I am currently being impersonated by someone, the people doing the Boom thing are not trying to copy his writing style, just being generally disrespectful to a guy that deserves better.

I’ll tell you how passionate I am about this.
The other day I stole my wife’s long distance phone card and called Garth personally to try and end this nonsense.

I yelled passionately down the line for about five minutes.

————————————————————-
You really called Garth about someone using “your” name on a blog. Wow. Dude, I think you need to take a step back, you are WAY too into this
——————————————–

Agreed. Flop, the only thing you can really control is yourself. Why would you ever think it’s your job or right to restrict someone else from using ‘Boom’ or ‘Flop’ as their handle?

Relax. It doesn’t matter.

///////////////////

Well, it looks like my Southern Hemisphere sense of humour has ensnared another victim in Sail Away.

I already knew Mattl had no sense of humour when I schooled him on what was really happening in Vancouver real estate.

Fence post has got more personality.

Anyway I did call Garth to talk about a few things.

You guys think I take all this too seriously?

I put my career at risk for this blog.

I put my wife’s and my safety at risk for this blog.

Many people do the basics of what I was doing here but with much more protection and less personality.

I tried to humanize what was going on by giving personal accounts of my work life working on luxury real estate on the Westside of Vancouver from a construction workers perspective and combined that with goings on with my neighborhood in East Vancouver.

This information was all available on here for the price of admission, I picked up the tab in my personal life.

If you guys want to betray me and shit on a dead guy as well then obviously you weren’t worth the effort and risks I took…

M45BC

M64WI

#45 Piet on 08.15.19 at 7:29 pm

#13 The Wet One
The points you make are valid, considering the fate of the world is in the hands of narcissistic politicians and dictators, bungling miltary forces, and evil weapons manufacturers. When all hell does eventually break loose, all those fancy portfolios that consist of electronic bits on a server somewhere are likely to vaporize. We’re hanging on to the principle residence and one revenue property because in extremely chaotic circumstances one is more likely to be able to prove ownership of physical assets than ethereal stuff in a cloud that no longer exists.

#46 aerozone on 08.15.19 at 7:32 pm

Hey Garth!
Would it be possible to get Ryan to use a nice “Bloomberg Black” background and more colors? It would make the charts look yummy like a plate of sushi. A little industrial psychologist style marketing never fails to spruce up a blog site.

#47 Renter's Revenge! on 08.15.19 at 7:33 pm

#8 Gen Z on 08.15.19 at 5:10 pm

I’m Gen Z, and if you’re a male and under 6 foot tall, no one wants to even acknowledge or accept you here in [insert location].

====================================

I know. Everyone thinks that.

There are two guys where I work, both are about 5’4″ tall.

One of them everybody loves talking to, women can’t enough of him, he’s the chief engineer of the company, has a big house, hot wife, 2 kids, etc.

The other guy everybody hates. He’s always acting aggressively, putting other people down when he thinks they slighted him, trying too hard to make conversation with people, trying to flirt with women when they clearly don’t want the attention, always comparing himself to others.

What is the difference between these two guys?

The first has self-confidence, the second guy is really insecure.

I used to be insecure about my own height until I saw the stark difference between how people treated these two guys.

#48 Yanniel on 08.15.19 at 7:37 pm

#5 Howard on 08.15.19 at 4:55 pm
And never in human history have people lived in more prosperous times than these.

—————————

Except for the 1920s, 1950s, 1960s, 1970s, 1980s, 1990s, and 2000s. For the middle class anyway.

Aside from that, most prosperous time in history.

Spoken like a true, myopic, navel-gazing, entitled, narcissistic Millennial. – Garth

——-
Does anybody else feel offended by this generalization?

Which one? – Garth

#49 Sold Out on 08.15.19 at 7:39 pm

#8 Gen Z

I forgot to add that larger mammals don’t live as long as smaller ones. Be thankful you’re a Jack Russell, and not a Great Dane; you’ll be spitting on the graves of all those tall dudes that genetics gave all the good jobs, high salaries, and hot babes.

#50 Barb on 08.15.19 at 7:39 pm

But where is the money going to go?
Who wants to pay tax on all that cash…not me.

#51 Flop... on 08.15.19 at 7:45 pm

I miss the old days.

My wife and I used to discuss our next travel adventure.

Now I have to listen to how it was a good idea to dump Tech stocks and jump on the gold train.

She’ll be coming round the mountain…

M45BC

“Comparing The World’s Top Currencies Around the World

Money makes the world go ‘round. But, which currencies and assets make up most of the money supply? To find the answer, it takes a little more than looking at the total amount of currency in the world. The world’s money supply includes currency, cryptocurrency, precious metals, and any other liquid instruments circulating in the world’s economy.

To help get a better idea of the world’s money supply, we put together a visualization to show how much money is circulating throughout the world.

Central banks may be able to increase the money supply by cutting rates.

Gold is the largest contributor to the world’s currency at $8.7 trillion.
Cryptocurrency may stop
central banks from altering the world’s money supply.

Changes in the money supply can have a significant impact on inflation and other variables of macroeconomics.

To find out how much money there is in the world, we took data from the FED and each country’s central bank. Using this data, we can see how much money is circulating in the world economy as well as which instruments contribute the most to the money supply.

The Most Valuable Currencies in Circulation

1. Gold: $8.7 trillion
2. U.S. Dollar: $1.7 trillion
3. Eurozone Euro: $1.3 trillion
4. Silver: $1.1 trillion
5. China Renminbi: $1 trillion
The answer to the question, “How much money is in the world?” is a little bit more complex than you might think.

Money supply refers to the total amount of money in circulation at any given point in time. Banks work off the fractional banking system. The system allows banks to hold less on hand for withdrawal. They can then lend out the remainder. The amount they can lend out relative to what they keep on hand is known as the deposit multiplier.

When looking at this through a narrow lens, we might only consider the world’s currencies as part of the money supply. However, in a broader sense, we can consider other instruments, such as precious metals and cryptocurrency, as part of the money supply.

Looking at it through this broader lens, we can see that the world’s money supply is dominated by gold and the U.S. dollar. And, perhaps to some people’s surprise, the cryptocurrency, Bitcoin, has become one of the largest contributors to the world’s money supply.

Recently, due to major concerns regarding future economic growth, central banks around the world have been cutting interest rates in order to avoid a downturn, which increases the money supply. Increased supply lowers interest rates. This makes borrowing for investment more lucrative to businesses, but hurts savers.

It’s important to be able to understand and analyze the money supply as it can have a significant impact on macroeconomics around the world.

Understanding the state of the world’s money supply is not only interesting, but it can also help us protect against downturns in the world economy. It helps you understand what central banks do and why they do it”

15 August 2019

Visualization

https://howmuch.net/articles/how-much-currencies-are-worth

Gold is not a currency. – Garth

#52 TurnerNation on 08.15.19 at 7:45 pm

From the Whatever Happened To…department.

Joe ‘O’ – Oft mentioned on this weblog, is here:

(Climate Science is a religion now. Choose which scientific deities you support, who can divine the manifest and manifold truths?
The large the following the more funding is tithed. And, the more affirming results are achieved. Leading to a greater following with more donations. Non believers are to be punished.)

https://nationalpost.com/opinion/joe-oliver-heres-a-truth-few-dare-to-utter-canada-will-benefit-from-climate-change/

#53 Paul on 08.15.19 at 7:50 pm

As Elvis and a few other have said!

I said you ain’t so big, you know you’re just tall that’s all.

#54 leebow on 08.15.19 at 7:58 pm

#8 Gen Z

THose over 8 feet tall have it even worse.

#55 Bytor the Snow Dog on 08.15.19 at 8:02 pm

#48 Sold Out on 08.15.19 at 7:39 pm sez:
“#8 Gen Z

I forgot to add that larger mammals don’t live as long as smaller ones. Be thankful you’re a Jack Russell, and not a Great Dane; you’ll be spitting on the graves of all those tall dudes that genetics gave all the good jobs, high salaries, and hot babes.”
———————————————-

This is objectively wrong, but nice effort towards cheering the guy up.

#56 JSS on 08.15.19 at 8:08 pm

Can we have a blog in the future just dedicated to height?

#57 Edward Bear on 08.15.19 at 8:15 pm

GenZ: Funny, I am 2M tall, retired from business development after 40 years and have spent a lot of time sincerely trying to make men shorter than me feel comfortable. I don’t answer, “No, do you play miniature golf.” when some joker invariably asks if I played basketball. You average guys can dress off the rack whereas us Mr. Tent and Awning guys have a hell of a time hunting for classic clothes so as not to look like beach pimps whilst choosing from the invariably ugly big clothes selection. Short guys freak when big and or tall men appear for interviews. Please know we are frankly at just as much of a disadvantage as the shorter man. Just be yourself; you will surely have talents that others don’t have, play upon them. An attractive woman or man who only looks at your stature short or tall for job or romance is honestly, probably someone not worth working with or dating. We play with the hand we are dealt. Hope it gets better for you, it probably will.

#58 Flop... on 08.15.19 at 8:16 pm

Gold is not a currency. – Garth

//////////////

Yeah, I knew that one would trigger your gold affliction.

Don’t worry the guy who wrote the misleading headline is looking for a new job in the morning.

You could have told everyone how manly I sound instead…

M45BC

#59 Sold Out on 08.15.19 at 8:22 pm

#54 Bytor the Snow Dog

I beg to differ…

https://www.ncbi.nlm.nih.gov/m/pubmed/1600586/

#60 Sail away on 08.15.19 at 8:29 pm

#8 Gen Z on 08.15.19 at 5:10 pm

I’m Gen Z, and if you’re a male and under 6 foot tall, no one wants to even acknowledge or accept you here in Toronto. Tall men have higher salaries, a better quality of life and they save more money.
What use is the stock market when the financial advisor discriminates against you, the landlord discriminates against you and the job market discriminates against you because you haven’t hit the 6 foot tall mark?
Nobody wants you if you’re under 6 feet tall. They view you as like how one views fresh dog poo on the sidewalk, with avoidance.

——————————————

Let me write your inner script:

“Hmmm… what to do, what to do? The place I’m currently living seems to treat tall people better and I’m not tall.

Is there any possible place in the world that does things differently, or is there any possible line of work where height doesn’t matter?

Oh, so hard… Think I’ll stay here in Toronto and whine to the world. That’ll help. It’s everyone else’s fault I’m failing.”

#61 Break a Leg on 08.15.19 at 8:41 pm

I’m funnier when I’m unexpurgated.

#62 Billy on 08.15.19 at 8:49 pm

Interesting article about the potential perils of deflation:

https://www.investopedia.com/articles/investing/051315/what-deflation-and-how-do-central-banks-fight-it.asp

#63 SoggyShorts on 08.15.19 at 8:54 pm

#43 Flop… on 08.15.19 at 7:27 pm
Sail Away at 12:17 pm
#111 Mattl on 08.15.19 at 10:52 am
#63 Flop… on 08.14.19 at 8:25 pm
#54 yvrmc on 08.14.19 at 7:58 pm

You guys think I take all this too seriously?

I put my career at risk for this blog.

I put my wife’s and my safety at risk for this blog.

Many people do the basics of what I was doing here but with much more protection and less personality.

I tried to humanize what was going on by giving personal accounts of my work life working on luxury real estate on the Westside of Vancouver from a construction workers perspective and combined that with goings on with my neighborhood in East Vancouver.

This information was all available on here for the price of admission, I picked up the tab in my personal life.

If you guys want to betray me and shit on a dead guy as well then obviously you weren’t worth the effort and risks I took…

M45BC

M64WI

*************************
Yeah, it absolutely was not worth it IMO.

Every single day for years posting about how another 1.3m property sold for 1.2m. Yawn.
How could that possibly be worth “risking your career” or the safety of your spouse?!?! Seriously?

Or copying&pasting an entire “howmuch” article. (A summary and a link would be better I think)

Every post of yours that was not one of the above 2 formats was generally well written and an interesting read- often funny even.

#64 Yukon Elvis on 08.15.19 at 9:03 pm

Cowboy boots and a Kim Jung Un hairstyle. Works for me.

#65 Sail away on 08.15.19 at 9:04 pm

#43 Flop… on 08.15.19 at 7:27 pm
Sail Away at 12:17 pm
#111 Mattl on 08.15.19 at 10:52 am
#63 Flop… on 08.14.19 at 8:25 pm
#54 yvrmc on 08.14.19 at 7:58 pm
—————————————–

I’ll tell you how passionate I am about this.
The other day I stole my wife’s long distance phone card and called Garth personally to try and end this nonsense.
I yelled passionately down the line for about five minutes.
————————————————————-
You really called Garth about someone using “your” name on a blog. Wow. Dude, I think you need to take a step back, you are WAY too into this
——————————————–
Agreed. Flop, the only thing you can really control is yourself. Why would you ever think it’s your job or right to restrict someone else from using ‘Boom’ or ‘Flop’ as their handle?
Relax. It doesn’t matter.

///////////////////

Anyway I did call Garth to talk about a few things.
You guys think I take all this too seriously?
I put my career at risk for this blog.
I put my wife’s and my safety at risk for this blog.

This information was all available on here for the price of admission, I picked up the tab in my personal life.
If you guys want to betray me and shit on a dead guy as well then obviously you weren’t worth the effort and risks I took…

———————————————

First, why would you ever put your family at risk for an internet blog?

Second, it’s not a betrayal of you or denigration of anyone else to point out that you really have no chance of controlling what others do, especially on a blog. Trolls love when people get worked up.

#66 Doug t on 08.15.19 at 9:05 pm

Give me the dogs and forget the rest

#67 Break a Leg on 08.15.19 at 9:33 pm

Absent specific counterexamples, organized real estate engages in enough handwaving (sales mix, seasonality &c &c) to make Marcel Marceau look like a poofteenth.

I appreciate Flop’s counterexamples. Thanks, Flop.

#68 joe calgary now vancouver on 08.15.19 at 9:33 pm

I can relate to her, although I’ve never sold out of the market. I started investing in 2015, nothing super risky mostly ETFs as you recommend. I am actually sitting at a 5% loss since 2015 including my dividend payments. What I found on my journey of investing is that the only sure way to invest and expect returns is by managing and controlling money yourself. Rather than entrust bankers with it. By comparison to my portfolio, my small business turns about 40-50% return on invested capital per annum. I have however learned a lot from Garth regarding tax planning and such and a general knowledge of the financial world. So I am grateful for this blog, will be buying cash flow positive real estate in the near future (impossible in major centres in BC or Ontario) and using it as security with the bank to fund my small business with a line of credit. Great way to hedge against the consistent deterioration of the value of capital ie inflation.

#69 Burrito on 08.15.19 at 9:43 pm

#trudeau begs you to invest in SNC Lavalin

#70 Basil Fawlty on 08.15.19 at 9:52 pm

Gold is not a currency. – Garth

“Gold is money, all else is credit”

JP Morgan

He’s dead. – Garth

#71 tccontrarian on 08.15.19 at 9:53 pm

@Flop

“Anyway I did call Garth to talk about a few things.
You guys think I take all this too seriously?
I put my career at risk for this blog.
I put my wife’s and my safety at risk for this blog.

This information was all available on here for the price of admission, I picked up the tab in my personal life.
If you guys want to betray me and shit on a dead guy as well then obviously you weren’t worth the effort and risks I took…”

/////

Well, as others have mentioned here (not many, but a few), I too appreciated what you did. I never thought you were putting your family at risk however, but I guess there are sick people out there.

I too have wondered whether I should continue to offer up my ‘contrarian’ perspective (a proper one, as it is a much misused term). A couple posters here mentioned that I shouldn’t stop and do appreciate some of the content I provide.
More often than not, actually, I do it for me.
Putting an idea ‘out there’ for the world to see, especially if it runs counter to popular opinion, isn’t the easiest thing to do – even in anonymity. It matters to me that I’m correct in gauging the Markets’ gyrations – but Mr. Market has a tendency of keeping us ‘honest’.

tcc

#72 Spectacle on 08.15.19 at 9:56 pm

# 6 Damifino on 08.15.19 at 4:55 pm

If you have the confidence to accept the monumental danger in getting married, having kids, starting a business, planting a crop or running an open blog attracting scores of misfits, then staying invested is a minor thing.
———————————–

Suitable for framing.

That is a Novel, a Tattoo if anyone ever needs one. And worthy to be framed !!

Garth , you are a God

Thanks for all you give us.

#73 Jenny Wang on 08.15.19 at 10:01 pm

Comparing Wisdom Tree bond funds performance to Index ETF performance is a bit like comparing the Flush Rate of different toilet papers. In bonds and indexes there are hundreds of dogs weighing on performance like dead albatross. Neither reflects the performance of what good companies have done. CSCO has been mauled by recent headlines despite positive numbers, and still up 25% on the year. Is it up or down? Dividends will continue to flow. I hear the weathers good inalaysia this week.

Coming here to hump stock picking is a waste of time. We’re not buying it. – Garth

#74 G on 08.15.19 at 10:04 pm

#8 Gen Z,
Taller people need to duck more often.
Just keep your shoulders back, chin up, make eye contact, and remember to smile. It can help and won’t hurt. Save what you can and invest it. Stop wondering what the other guy is doing. You’re smart enough to read this blog so will be able to figure it out. Sometimes the tall people can’t see the low hanging fruit that you can, so use that to your advantage. Find something you like to do for fun. You only get one shot at life. Enjoy it while you can. It goes by faster than you think. And all the people under 6ft are also worth meeting and getting to know. We are all just human.

#75 Shawn on 08.15.19 at 10:09 pm

FED and BOC to cut 50 bps in Sept

#76 crossbordershopper on 08.15.19 at 10:14 pm

the reality is the market is made up of individual stocks, well, the reality is that the vast majority of canadians only only canadian stocks and most of them are garbage to say the least.
the number of people i know in western canada that have seen 90% reduction in their portfolio is huge, its normal to have oil stocks go from 40 to 3 in the last 5 years. look up all the oil and gas, base metals etc. complete garbage.
yes people put up american charts and sell them junky canadian high cost fee’s mutual funds. classic bait and switch.
bank stocks and insurance companies which are basic part of the canadian market are junk look at bank of nova scotia, same price it was 5 years ago, sure a 4.5% div yield, take out the management fee on mutual funds and your wasting your time. making no money in the canadian market is good, most stocks go down, sure there are a few winners, very few, most are base metals, gold, oil and gas garbage, and guess what they will go lower, and when tax loss selling comes in then the interesting thing, management will just come in take them private on the cheap, using shareholder money against themselves. Canada is kinda corrupt, lot more corrupt than the us when it comes to securities laws, governance etc. management can screw shareholders here a lot easier than in the us. but either way, simply invest in us multinationals, disney, boeing, walmart, mcdonalds etc, and you should do fine over the long term, i cant say that investing in canadian big companies. and thats the truth, total socialist up here, sub par managers, and sub par performance. up here managment of these companies lack vision, ingenuity, real smart people are few and far between up here.

#77 IHCTD9 on 08.15.19 at 10:16 pm

#8 Gen Z on 08.15.19 at 5:10 pm
I’m Gen Z, and if you’re a male and under 6 foot tall, no one wants to even acknowledge or accept you here in Toronto. Tall men have higher salaries, a better quality of life and they save more money.

What use is the stock market when the financial advisor discriminates against you, the landlord discriminates against you and the job market discriminates against you because you haven’t hit the 6 foot tall mark?

Nobody wants you if you’re under 6 feet tall. They view you as like how one views fresh dog poo on the sidewalk, with avoidance.
—————

The only place being 6’ tall means something is on Tinder. Outside of cesspools of that nature, no one cares.

If you’re short and insecure, start lifting. Short dudes are often Mesomorph’s and can get ripped easily.

#78 Basil Fawlty on 08.15.19 at 10:19 pm

“Gold is not a currency. – Garth

“Gold is money, all else is credit”

JP Morgan

He’s dead. – Garth”

True, but there’s talk of a come back.

#79 IHCTD9 on 08.15.19 at 10:22 pm

#67 Burrito on 08.15.19 at 9:43 pm

#trudeau begs you to invest in SNC Lavalin
—————-

More like:

#trudeau pressures and influences you to invest in SNC Lavalin…

#80 joe calgary now vancouver on 08.15.19 at 10:22 pm

‘If that happened, of course, we’d all be braiding grass and eating bugs.’

But of course we would be if it wasn’t for a credit driven economy. Thats exactly the problem, the governments have kicked the can down the road for so long and inflated asset values to such highs that the only way to reset it now is either devalue currency to nothing or hit a wall with regard to growth for the next decade.

#81 Shawn Allen on 08.15.19 at 10:29 pm

What Trudeau should have said:

“You’re god damn right I ordered the deferred prosecution agreement. And then I fired the Attorney General for insubordination. Deal with it. I’m the Prime Minister! What part of the word PRIME don’t you understand”

It’s what Trump would have done.

#82 IHCTD9 on 08.15.19 at 10:43 pm

#56 Edward Bear on 08.15.19 at 8:15 pm

I don’t answer, “No, do you play miniature golf.” when some joker invariably asks if I played basketball.
——-

Lol, that’s a good one!

I worked with a guy who was 6’-7”, 305 lbs. when he got asked how tall he was, he’d tell ’em 5’-19” :).

Out here in the ice floes of rural Ontario, there is a good mix of Dutch, Scottish, and Scandinavian blood which has created some real monsters. Massive guys ranging between 6’-6” to 7’-0” and 270 lbs+.

I’ll bet some of these freaks wish they were shorter. There’s only so many times you can bounce your head off a low hanging light fixture while standing up at a table before you get a little pissed.

#83 Frank on 08.15.19 at 10:47 pm

d
DELETED

#84 PastThePeak on 08.15.19 at 10:51 pm

#8 Gen Z

I have to say, I have never heard anyone complain they were discriminated against by not being tall (other than maybe with some prospective girlfriends that happened to be taller than the man).

5’8″ or 9″ is about average height for a male in Canada, so not sure why you think under 6′ is short.

Maybe we are being punked…..

#85 fishman on 08.15.19 at 11:13 pm

The army types have done quite the exhaustive studies on soldiers in prison/death camps. Knowing their physical status before capture/time of death in captivity & state at release. The ectomorphs (long & lean} go first. The endomorphs (high body fat ) last the best for the first year but after that go fast. The mesomorphs (muscular well built) & under 5’10” last the longest.
Back in the 70’s I drove a guy I knew out in the valley to find a Stalingrad survivor that he knew about. Of course we wanted talk to this guy. He was quite short around 5’6″, strong looking. First, thing he did when the Russians let him go in 53 or 55 was to marry a girl that just turned 14. She was probably 13 but nobody was going to reprimand him I suppose. My buddy asked him what he ate & he said “Italians, there were less of them.”

#86 crowdedelevatorfartz on 08.15.19 at 11:14 pm

@#8 Gen Bled
“I’m Gen Z, and if you’re a male and under 6 foot tall, no one wants to even acknowledge or accept you here in Toronto. Tall men have higher salaries, a better quality of life and they save more money”
+++++

My God.
And I thought Millennials were whingers….
It isn’t your lack of altitude that’s the problem amigo.
Its your lack of attitude.
News Flash
Financial Blog
“Dear Abby” is down the block…..

yeesh

#87 Spectacle on 08.15.19 at 11:29 pm

BobC on 08.15.19 at 5:35 pm

I just repeat to myself something you said awhile back:
Do you appraise your house every week?
Then I go on with my day and forget about it.
——————–o————-

Amazing short summary of overall investment strategy.

Many times my decision to get out of a cars, Porsche Turbo, 993, bmw m3 e30, . Making a fire, or 40% minimum sale.

Dont care to constantly check prices, play the hesitation game. That is gambling…..and we Learn Nothing .

Or Earn Nothing significant.

My thoughts go out to all the broken hearted Janets. Stupid, what game are You playing?

The sooner people start living the rules of investmennt by Garth Turner, and stop voting for stupid socks-selfy Sociopathic like loser puppits, the better they will be.

#88 Doug in Londinium on 08.15.19 at 11:29 pm

What’s happened over the last week is largely a tempest in a teapot. While some stocks and ETFs have dropped, utility stocks have held their value and bonds are up. If the stock markets take a REAL drop, I’ll cash in some of those bond funds and buy more equities like I did last December. Me worry about the stock market tomorrow, Friday? Hell no! It’s going to be a nice day so I’ll be outside. Maybe I’ll spend some of those capital gains made earlier this year doing something fun, like Grand Bend Parasail.

#89 Regjeg on 08.15.19 at 11:38 pm

A slice of ZAG, XGGB, and ZRE has provided a decent return y-t-d.

#90 the Jaguar on 08.15.19 at 11:49 pm

Full moon today. Really evident reading the comments today.

#91 Margaret on 08.16.19 at 12:41 am

Paul #52

I don’t remember the song..or the singer, but your Elvis post had me think of the line…

” she ain’t pretty, she just looks that way”

#92 Smoking Man on 08.16.19 at 12:52 am

Garth what hell did you do too James.

Missing his daily insults. Did he die. Did you ban him.

James talk to me. I’m worried about you..

#93 Smoking Man on 08.16.19 at 1:20 am

So I got my rejection letter from the life insurance company.
Blood tests are evil..

I knew that was coming along.. I taught the wife how to murder forex trading. 400 to 1 margin.

She is up to 800k since Mar 18..

I’m not teaching any of you ungrateful muts how to do it.

It wont work if everyone is doing it.

I’m up to 3 packs a day. 1.5 litters of wine with a Micky of JD to help me sleep..

My time stone.

He gave no shit…..

#94 Smoking Man on 08.16.19 at 1:54 am

DELETED

#95 Howard on 08.16.19 at 4:09 am

Re: height issue.

I recall years ago a 6’8” acquaintance who was very self conscious about his height. People staring all the time, etc. I recall on the dance floor of a small club he actually seemed to be deliberately slouching and bending his knees in an attempt to appear shorter and fit in. It was very sad actually but then we all have our insecurities in our 20s.

To the shorter GenZ here, I’m sure my friend at the time would have gladly switched heights with you.

#96 short horses on 08.16.19 at 4:12 am

#12 Weight of the World on 08.15.19 at 5:24 pm
#8 Gen Z on 08.15.19 at 5:10 pm

….

“Putin and Napoleon were short…….. didn’t stop them.”

Putin aside, Napoleon’s reputation for being short (and the foundation of the whole Napoleon Complex notion) is erroneous. If you do a quick internet search you’ll see his height was around 5’7” while the average height in Britain and France at that time was around 5’5”. So he was within the average range (or slightly above) and certainly not short.

On the other hand, the comment by Gen Z about facing discrimination from landlords and [email protected] makes me wonder if his stack of investable capital is shorter than average, because height doesn’t typically matter when people are trying to sell you things.

#97 The Real Mark on 08.16.19 at 4:18 am

Is there any precedent for the S&P500 to sustainably outperform cash (or gold) in an inverted yield curve environment?

Just wondering.. Because no examples really come to mind here. Long-term treasury bonds (in the face of record supply) don’t get bid to sub-2% levels because investors believe the future is inflationary, that’s for sure.

Having said that, as I pointed out many, many times, Poloz et al look to be seriously behind the curve in rate cuts. Maybe Scheer does have a chance if September turns out to be particularly bad for the Canadian economy. Because my local MP seems to be pinning his hopes on l’affair SNC-Lavalin, and quite frankly, almost nobody except those within partisan circles even care about the alleged issue in question.

#98 expat on 08.16.19 at 7:12 am

Folks as a guy who’s family has owned precious metals for several generations I want to give you my two cents,

As Garth said, Gold is not a currency. Only the gold pumpers pump this meme.

The global economy does not need gold anymore. Currencies are the new gold. Many gold pumpers yap about central banks buying gold. They are simply buying another asset to move some investments out of the currencies.

It humors me when gold pops and the pumpers come rolling out on cue pumping gold as a store of value. They are simply trying to sell you their gold. Nothing more.

My family has owned PM’s for generations. It is a store of wealth nothing more. It is transferable between generations easily. Many cultures use it for this.

It can be a medium of exchange between parties who accept it’s value at the time of transaction. It is a barter tool now.

The gold standard is long gone. It is an outdated concept
the gold standard. Countries now use currencies in the SWIFT system and the Currency markets to value a currency’s value. The currency markets also allow countries to prop up or devalue their currencies efficiently without having to truck 10,000 lbs of gold around..

When you see people pumping gold as a currency – run.

BTW – like clockwork when the blogs are full of buy,buy,buy comments it usually means an intermediate decline is close at hand.

When you hear or see on the blogs about gold going to the moon that is NOT! the time to buy it.

For us, we used the last decade to accumulate more PM’s.
We will not buy in this cycle at all. We only buy when everyone hates it. We also rarely sell any.

Is it going up? In our opinion the excesses of the last cycle are going to cause severe problems. You see that now. Having another asset outside the system is just prudent. But anything more than 5-10% of your wealth in this is not necessary.

The pumpers want you all in. Don’t be silly or foolish.
In short, if you need to buy gold. wait.

It is going into its intermediate decline shortly. A better entry point will come soon as exhaustion hits this move.

Time is your friend.

Just saying – imho

#99 LP on 08.16.19 at 7:55 am

re a man’s height…

My son, age almost 47, is 6’9″. He has already shrunk about 1 inch since his tallest. All his life, from age 7-8, he has faced “discrimination” of a different sort. At amusement parks he was prohibited from using the equipment suitable to his age because he was too tall for the height barriers on rides and climbing apparatuses (sp?). He was always expected to act more mature than his chronological age, even by his own grandparents.

When he reached his twenties he chose to apply at the local armed services branch. After 3 (THREE!) interviews – accompanied by meal and parking vouchers – he was told he was too tall for any of the 3 branches. That was when he finally lost it. He yelled at the recruiter seated behind the desk that a simple piece of masking tape put on the door jamb of the street door would have saved himself 2 wasted days driving to Hamilton for the interviews and the government the cost of 2 days worth of meal and parking vouchers.

He is challenged by much shorter guys, usually drunk, to fights. He is very strong and has a quick-silver temper so he walks away from those.

So, shorter and whinier guy, be thankful for what God gave you and stop wishing your life away. Make the most of what you’ve got and find other ways to see value in yourself. I suspect lack of height is not your biggest problem.

#100 maxx on 08.16.19 at 7:59 am

@ #8

Focus on building your financial well-being so as to have enough FU money and this will resolve.

#101 dharma bum on 08.16.19 at 8:01 am

#8 Gen Z

You are very self aware.

Here is something to further reinforce your self image:

https://www.youtube.com/watch?v=mrjStSqu_w4

#102 Bytor the Snow Dog on 08.16.19 at 8:03 am

#58 Sold Out on 08.15.19 at 8:22 pm sez:
“#54 Bytor the Snow Dog

I beg to differ…

https://www.ncbi.nlm.nih.gov/m/pubmed/1600586/

————————————————–
You said “mammals” not “humans”.

#103 MF on 08.16.19 at 8:04 am

Heartwarming responses to the poor dude complaining about his height.

Obviously a troll post but it’s okay.

You do come across this type of moaning online. YouTube, other forums. It’s always someone else’s fault.

MF

#104 Bytor the Snow Dog on 08.16.19 at 8:14 am

#88 Margaret on 08.16.19 at 12:41 am sez:
Paul #52

“I don’t remember the song..or the singer, but your Elvis post had me think of the line…

” she ain’t pretty, she just looks that way”.
——————————————————
Ask and ye shall receive. Canadian band too.

https://www.youtube.com/watch?v=UG3ExHB133k

#105 Tianhao Yang on 08.16.19 at 8:44 am

Will #trudeau be impeached now?
Or can he just post a photo of his feet on social media to drum up support?
Housing must succeed

#106 crowdedelevatorfartz on 08.16.19 at 8:58 am

Greenland for sale !
Greenland for sale!
Get your Greenland while its still a bargain!

My God Trump is a maroon.

#107 Ivan the Moderate on 08.16.19 at 8:59 am

Why do Preferred lost ~5%, instead of growing like the bonds ones in August?
Intuitively, they should move in the opposite directions from stocks.

Rate reset preferreds generally rise and fall with interest rates, in opposition to bonds. Buy them for a great tax-efficient dividend, and less volatility than equities. When rates rise again (and they will), prefs will provide protection as bond values decrease. – Garth

#108 IHCTD9 on 08.16.19 at 9:12 am

#96 LP on 08.16.19 at 7:55 am

He is challenged by much shorter guys, usually drunk, to fights. He is very strong and has a quick-silver temper so he walks away from those.
______

This is a real thing. Back in my younger days, I saw this all the time – big guy vs little guy. I think it’s what folks refer to as “small guy syndrome”.

A buddy of mine back in College told me about a small dude following him and a couple buds out of a bar and harassing them as they walked down the street. He wouldn’t quit, and ended up getting beat to a pulp. A guy I used to work with told a similar story – small guy wants to fight big guy – won’t give it up – when the big guy finally had enough and stepped up, small guy whips out a gun…

#109 Lee on 08.16.19 at 9:32 am

#30 Deal of the Decade,

I am now convinced Trudeau will win a majority – probably 175 seats. He has completely tied up Quebec with about 60 seats there and of course he will still get close to 65 in Ontario due largely to Toronto and 25 out East. He’ll muster up 25 more ridings here or there.

#110 IHCTD9 on 08.16.19 at 9:36 am

#95 Howard on 08.16.19 at 4:09 am
Re: height issue.

I recall years ago a 6’8” acquaintance who was very self conscious about his height.
_____

I had a bud – same deal – 6′-6″ while still in high school. This was the 80’s and it seemed there were very few who were that tall, so he really stuck out.

These days, for whatever reason – I see 6′-5″+ guys all the time. I know one that ended up playing pro volleyball in Europe (6′-10″). Super tall guys everywhere compared to what it used to be like. Even the Women – just down the road are two ladies that are a good 6′-2″ – 6′-3″.

You know what else is going on – is young guys lifting. I know one 19 year old that literally looks like Schwarzenegger. Started lifting at 14 – regimented schedule, diet; the whole deal. Seems like every other young dude that walks by is showing obvious signs of lifting. Some are even paying big bucks for a Pro trainer and going through these 1 year transformations that boggle the mind, from fat slob to ridiculously built in a year.

#111 Sold Out on 08.16.19 at 9:40 am

#102 Bytor the Snow Dog

Not to belabour the point, but…

https://phys.org/news/2008-05-large-mammal-species-harder-die.html

#112 Remembrancer on 08.16.19 at 9:54 am

#105 Tianhao Yang on 08.16.19 at 8:44 am
Will #trudeau be impeached now?
Or can he just post a photo of his feet on social media to drum up support?
Housing must succeed
————————————-
Wrong country…

In Canada the whole government can be dumped, all it needs is a non-confidence vote to pass in parliament, maybe due to an inattentive house leader (cough cough 1979). Or, the majority party ousts their leader, a drama which the Libs are not unfamiliar with… Nor the Cons for that matter… Interestingly, there is also not a mandate from heaven to rule for the elected term, like in the republic to the south. The Prime Minister can be charged with a crime and be removed from office due to not being able to discharge their duties if warranted…

More obscurely, the Governor General has the power to dissolve parliament (say maybe for general buffoonery) which triggers an election…

#113 Sail Away on 08.16.19 at 10:01 am

#93 Smoking Man on 08.16.19 at 1:20 am
So I got my rejection letter from the life insurance company.
Blood tests are evil..

——————————————————–

Ok, enough about short guys and back to finance.

Just like car payments, triple-extra macchiato espresso swirl, RVs and Botox, you probably don’t need life insurance.

Life insurance is only a stop-gap measure for the young and debt-ridden who have no resources to help their family if they die early. Kevin O’Leary’s rule of house debt is that people should generally be mortgage-free by 45. Personal life insurance is similar and there is a point where it no longer makes sense.

It can be a fantastic business for your portfolio, though.

#114 cramar on 08.16.19 at 10:14 am

#8 Gen Z on 08.15.19 at 5:10 pm

I’m Gen Z, and if you’re a male and under 6 foot tall, no one wants to even acknowledge or accept you here in Toronto. Tall men have higher salaries, a better quality of life and they save more money.

What use is the stock market when the financial advisor discriminates against you, the landlord discriminates against you and the job market discriminates against you because you haven’t hit the 6 foot tall mark?

Nobody wants you if you’re under 6 feet tall. They view you as like how one views fresh dog poo on the sidewalk, with avoidance.

Have you considered Miracle-Gro®? – Garth

————

ROFL! Hilarious Garth.

This is the worst excuse for failure that I’ve ever heard. I hope all of Gen Z is not represented by this one. Product of our modern educational system?

Sounds like he needs a grandfatherly mentor that he can look down to. Someone like me at 5’5″.

#115 Bytor the Snow Dog on 08.16.19 at 10:26 am

#110 Sold Out on 08.16.19 at 9:40 am sez:
“#102 Bytor the Snow Dog

Not to belabour the point, but…

https://phys.org/news/2008-05-large-mammal-species-harder-die.html
——————————————–
We can do this all day but your premise is simply not true. There are just as many small mammals with short life spans are there are large ones.

Squirrels, Mice, Raccoons, deer, moose, beavers and on and on and on.

#116 Bytor the Snow Dog on 08.16.19 at 10:27 am

Then I looked at your link. LOL. Talk about off topic.

#117 Sold Out on 08.16.19 at 10:37 am

#105 Tianhao Yang

Will #trudeau be impeached now?
Or can he just post a photo of his feet on social media and drum up support?
Housing must succeed

————————————————————————————

Bad haiku, or wumao alert?

#118 Sold Out on 08.16.19 at 10:40 am

#115 Bytor the Snow Dog

“We can do this all day…”

I have provided citations supporting both the factual and contextual accuracy of my original statement. You have provided your unsupported opinion.

#119 n1tro on 08.16.19 at 10:44 am

#84 PastThePeak on 08.15.19 at 10:51 pm
#8 Gen Z

I have to say, I have never heard anyone complain they were discriminated against by not being tall (other than maybe with some prospective girlfriends that happened to be taller than the man).

5’8″ or 9″ is about average height for a male in Canada, so not sure why you think under 6′ is short.

Maybe we are being punked…..
———————
Nah. The post is legit albeit incorrectly written. There is no discrimination for height from my personal experience. To discriminate, one would need to actively take in a quality (ie. height, sex, race, etc…) and not give that person the opportunity they are going for. Despite all the screaming from activists, I don’t think this actually happens much anymore.

I think our poor GenZ is playing the victim and misinterpreting how taller people are assumed to be better leaders (thus the easier promotions) than their shorter counterparts. There are studies that show a correlation for this that I am too lazy to link but it works the same way for women getting more assistance from both males and females on the roadside than a man in the same situation. Shockingly, “prettier” women get more assistance than “meh” women. :O

#120 mike from mtl on 08.16.19 at 10:51 am

#107 Ivan the Moderate on 08.16.19 at 8:59 am

Why do Preferred lost ~5%, instead of growing like the bonds ones in August?
Intuitively, they should move in the opposite directions from stocks.
////////////////////////////////////////////////////////////////

Canadian Preferreds are crap, they follow 5yr and their common stock very closely. They move opposite to medium term Bonds actually. Since rates are not going up any time soon expect it to get even worse.

To add insult their distributions have accordingly reset lower over time. ZPR for example is getting close to its all time low 8.61.

Buy and hold of this trash has not worked out, every time I consider selling it, but decide to hang on it just gets even worse.

Should have just owned VAB and PFF.

#121 Sail Away on 08.16.19 at 10:53 am

Back to short Edmonton dude:if success with the ladies is your problem- lift weights. It’s an absolute game-changer. Visible muscles work. It’ll take one full dedicated year of hard work to see real results.

Hard work and persistence isn’t for everyone, though. Very few, actually, in my experience.

This is not a Male Enhancement blog. – Garth

#122 Mattl on 08.16.19 at 10:54 am

@Flop

“Anyway I did call Garth to talk about a few things.

You guys think I take all this too seriously?

I put my career at risk for this blog.

I put my wife’s and my safety at risk for this blog.”

—————————————————————-

Ah, ya, I’d say the above quotes support that you are taking this too seriously if you put your career and your wifes health at risk for pink snow reports on a blog that is already posting whats going in in YVR. You make my point very well. I get that this is real to you, but for most it’s just a place to learn more about PF and discuss RE. Doesn’t seem like the squeeze is worth the juice, but thats your call. I do push back on the Doomer talk and so far have been right – large homes in Richmond bought at peak are a poor proxy for the overall market.

And you must have me confused with someone else, you never schooled me on YVR RE. I have been a RE bear my whole life and left Van because of crazy RE prices. We have always bought significantly less then we are approved for and I have a mortgage at 2x gross income. I wish I was a RE bull starting around 2005, I’d be WAY farther ahead lol.

I have lots of friends in construction, building supplies and property dev and have a very good idea on what was going on in YVR. I don’t find the REBGV stats that hard to interpret either. I think your reports were interesting on a house by house basis – not life risking interesting – but the general direction of the market wasn’t that hard to follow IMO.

#123 Ronaldo on 08.16.19 at 11:19 am

Have you considered Miracle-Gro®? – Garth

———————————————————–
Now that was funny. Good one. Suffering from the Napoleon Complex it seems.

#124 Howard on 08.16.19 at 11:20 am

More bribes to Quebec. What’s another $1.75B of BC/AB/SK’s money?

https://www.investing.com/news/commodities-news/ottawa-to-compensate-dairy-farmers-hurt-by-european-pacific-trade-deals-1957175

WINNIPEG, Manitoba (Reuters) – The Canadian government will spend C$1.75 billion ($1.32 billion) over eight years to compensate dairy farmers who face greater competition after free trade deals were struck with European Union and Trans-Pacific nations, Agriculture Minister Marie-Claude Bibeau said on Friday.

The support to dairy farmers, who form one of Canada’s most influential lobby groups, comes two months before Prime Minister Justin Trudeau’s government faces an election.

Money goes to dairy farmers in Ontario, Quebec and elsewhere who face new competition and lower rices because of trade deals. It may be a bribe to farmers but how can this possibly be a ‘bribe to Quebec’?

#125 James on 08.16.19 at 11:29 am

#92 Smoking Man on 08.16.19 at 12:52 am

Garth what hell did you do too James.
Missing his daily insults. Did he die. Did you ban him.
James talk to me. I’m worried about you.
#118 James on 08.15.19 at 12:36 pm
____________________________________________
Pay attention Old Man!
First put on your depends.
Second slide out of your hospital bed, lower the sides first.
Third put in your teeth and get your glasses.
Forth go for a pee……………..
Fifth now pay attention! Learn how to R.E.A.D!!!!
Below was yesterday, where were you? At the shuffleboard tournament? Comparing your aches and ailments with your other buddy’s at Happy Acres Retirement Home?

#84 Steve French on 08.15.19 at 12:08 am

Portfolio down $3,800 in 24 hours!! (Minus 1.53%).
My hair is on fire….. Run for the hills!!!!
Time to bring out the melancholic music-
This one’s for my ole ‘Nam buddy Smoking Man

“The Doors – The End (Apocalypse Now)”
https://www.youtube.com/watch?v=kZoFYCDRMYM
__________________________________________
I just knew that crazy Old Man was not 60 and he is an American to boot. Vietnam must have done a number on his bald head. Thanks for confirming my suspicions Mr French. lmao

#126 James on 08.16.19 at 11:34 am

#93 Smoking Man on 08.16.19 at 1:20 am

So I got my rejection letter from the life insurance company.
Blood tests are evil..

I knew that was coming along.. I taught the wife how to murder forex trading. 400 to 1 margin.
She is up to 800k since Mar 18..
I’m not teaching any of you ungrateful muts how to do it.
It wont work if everyone is doing it.
I’m up to 3 packs a day. 1.5 litters of wine with a Micky of JD to help me sleep..
My time stone.
He gave no shit…..
__________________________________________
Just too good to pass up Old Man.
“He gave no shit…..”

“That explains why your full of shit then”

#127 Sail Away on 08.16.19 at 11:43 am

#121 Sail Away on 08.16.19 at 10:53 am

This is not a Male Enhancement blog. – Garth

——————————————–

Sorry, I blogged some unsolicited advice and it felt so good, the next post wrote itself. Will try to rein it in.

#128 joblo on 08.16.19 at 11:48 am

Here Ontario vote on this and save Kanata.
https://www.aljazeera.com/indepth/opinion/justin-trudeau-government-ka-boom-190816093326935.html

#129 Dogman01 on 08.16.19 at 12:01 pm

#30 Deal of the decade on 08.15.19 at 6:23 pm

1. Buy SNC around $17
2. Trudeau gets 4 more years
3. SNC gets the DPA
4. Sell at $54

——————————————–
Years ago, when Shell had that disaster in the Gulf, I watched a news conference by the Coast Guard Admiral brought in to sort it all out. (you could tell he was a real professional). Basically if you knew the psychology of military mind , at that news conference you knew he was confident it was in the bag, all fixed. I scooped up Royal Dutch Shell and sold for a tidy sum several weeks later.

I saw Trudeau yesterday (how can anyone listen to this guy) if they get a minority or win then DPA will be fast and furious.
All you are betting on is a Liberal win.

As Garth would point out Gambling not investing.

#130 IHCTD9 on 08.16.19 at 12:23 pm

#121 Sail Away on 08.16.19 at 10:53 am

This is not a Male Enhancement blog. – Garth
___

Actually – it kind of is!

The ladies like a tall well muscled portfolio even more than guys 6’+ :).

#131 Vampire Studies (doctoral thesis) on 08.16.19 at 12:36 pm

“This is not a Male Enhancement blog. – Garth”

Since when? It’s always been a “mine is bigger than
yours” kinda thing. I’m talking investment portfolio of
course.

How about “chiseled abs”??

And this coming from a Harley rider…..

#132 Lillooet, BC on 08.16.19 at 12:45 pm

#121 Sail Away on 08.16.19 at 10:53 am
Back to short Edmonton dude:if success with the ladies is your problem- lift weights. …

This is not a Male Enhancement blog. – Garth
************************

not a day passed without Garth’s humor show!

#133 Howard on 08.16.19 at 1:44 pm

Money goes to dairy farmers in Ontario, Quebec and elsewhere who face new competition and lower rices because of trade deals. It may be a bribe to farmers but how can this possibly be a ‘bribe to Quebec’?

——————————————————

Of the ~10,000 dairy farms in Canada, about half are in Quebec, though Quebec’s output is about 40% due to smaller average farm size. Much of the remainder comes from Ontario.

Proportionately Quebec is far and away the winner of this money. And to prop up a declining industry. Who actually drinks a glass of milk anymore? Or feeds it to children? Cheese and ice cream will still be popular so dairy farms aren’t going anywhere but we don’t need anywhere near the number we have now.

#134 Lolo on 08.16.19 at 1:52 pm

To all the complaining tall men, it’s worse to be 6″ tall and female and Asian. My friend’s 14 yr old is going through this. When the family took a trip to HK this year, all the HK relatives were gawking at her.

#135 Simon Diman on 08.16.19 at 2:16 pm

It is easy to give $24 billion a year for child welfare and any other corporate and other forms of welfare in Canada when the Canadian government can pay 8% points less a year on their $690 billion debt load.

Lets see, $55.2 billion just in annual interest savings and that does not include municipal, provincial governments as well. I know the UN, Liberal, lefties mantra.

#136 Jack on 08.16.19 at 2:19 pm

“And never in human history have people lived in more prosperous times than these.”

I’d have to agree with that. London held a sports equipment drive for the less fortunate earlier this year asking for donations of UNUSED baseball equipment ! I can somewhat understand not wanting to wear well used cleats (even though I did when i was a kid – middle income family), but a used bat or barely used glove is not good enough for the ‘less fortunate’?

Prosperous indeed!

#137 James on 08.16.19 at 3:05 pm

#128 Dogman01 on 08.16.19 at 12:01 pm

#30 Deal of the decade on 08.15.19 at 6:23 pm

1. Buy SNC around $17
2. Trudeau gets 4 more years
3. SNC gets the DPA
4. Sell at $54

——————————————–
Years ago, when Shell had that disaster in the Gulf, I watched a news conference by the Coast Guard Admiral brought in to sort it all out. (you could tell he was a real professional). Basically if you knew the psychology of military mind , at that news conference you knew he was confident it was in the bag, all fixed. I scooped up Royal Dutch Shell and sold for a tidy sum several weeks later.

I saw Trudeau yesterday (how can anyone listen to this guy) if they get a minority or win then DPA will be fast and furious.
All you are betting on is a Liberal win.

As Garth would point out Gambling not investing.
___________________________________________
Trudeau is a bad gamble for those whom have not embraced the reality of recognizing his bad acting. As an actor he basically sucks. As an actor who acts like a politician he sucks. Either way the ones who vote for him will be hosed. If it’s a minority he will be constrained beyond belief and will eventually have to account for his actions re SNC and JWR. The people will judge him come October. Lets hope his bad acting syndrome stays with him to the end.

#138 MF on 08.16.19 at 3:11 pm

#110 IHCTD9 on 08.16.19 at 9:36 am

Steroids are easier as easier to come across.

When a person looks too good to be true, chances are they are. All you have to do is dig a bit.

#121 Sail Away on 08.16.19 at

Lol just lol. Helps but doesn’t substitute for personality, success, or looks. Tons of guys on muscle building forums complaining how they are ripped but still can’t get a woman to touch them.

Sorry Garth back to finance.

MF

#139 Dogman01 on 08.16.19 at 3:54 pm

#136 James on 08.16.19 at 3:05 pm

He is hell-bent on a DPA for SNC, so minority and they get it.

I am no longer so confident in Democracy. I do not think the masses understand the principles\history underlying our system.

Not sure if they understand that interfering in a Criminal case for political purpose is how other places that people flee from are run.

Are they still Citizens or now just Consumers.

#140 Evan Davis on 08.16.19 at 4:43 pm

Dogman01, the Liberals, NDP, Greens etc. and other left leaning voters are all on the take. Welfare, government programs, government pensions, other social programs etc. is all they care about. Where my money at?

#141 Jesse on 08.16.19 at 5:08 pm

#8 Gen Z on 08.15.19 at 5:10 pm
I’m Gen Z, and if you’re a male and under 6 foot tall, no one wants to even acknowledge or accept you here in Toronto. Tall men have higher salaries, a better quality of life and they save more money.

What use is the stock market when the financial advisor discriminates against you, the landlord discriminates against you and the job market discriminates against you because you haven’t hit the 6 foot tall mark?

Nobody wants you if you’re under 6 feet tall. They view you as like how one views fresh dog poo on the sidewalk, with avoidance.
********************************

I sympathize with the Gen Z men, they live in a time when dating and status is derived from social media. We’ve all read how social interactions are few and far between these days, whether it’s boomers or Gen Z, we don’t socialize in person as much as the past. Gen Z grew up in a time when life online was the norm, most millennials (me) experienced the pre-internet days (although we were very young) when men and women met in real life.

Now, dating is like flipping through a shopping catalogue, you set your filters (age, sex, weight, height) and go to town, women are the choosers. It’s no secret that online dating favors the top 10% of men, and the majority of women. I’m not sure you guys saw that article in WaPo about how 30% of men between 18-30 didn’t have any sex in the last year – this was the highest amount of sexless men in history between 18-30. Men today just aren’t getting laid, yet the women seem to be doing fine. The internet is making the undesirables obsolete. Millennials are dating but not marrying, and Gen X might not even start dating. The relations between men and women in Gen Z are nothing like the boomers ever experienced. Times are a changin’.

#142 Sail away on 08.16.19 at 5:36 pm

#121 Sail Away on 08.16.19 at 10:53 am

Back to short Edmonton dude:if success with the ladies is your problem- lift weights.

This is not a Male Enhancement blog. – Garth

——————————————–

It’s a life enhancement blog. All elements work together.