Oracle wisdom

DOUG  By Guest Blogger Doug Rowat

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There are many famous Warren Buffett stories, but perhaps my favourite is the one told by his first wife, Susan Buffett.

As the story goes, one day when Susan was sick she asked Warren for a bowl for her bedside because she was feeling nauseous. Warren banged around in the kitchen and eventually came back with a colander. Frustrated, Susan explained that this wouldn’t work because it had holes in it. Warren returned to the kitchen, banged around some more and returned with the same colander but this time on a cookie sheet.

Such is the impossibility of trying to decipher the mind of a genius.

Though much has been written about Warren Buffett, perhaps those who have deciphered him best, at least in terms of his approach to investing, are David Clark and Mary Buffett (Warren’s daughter-in-law).

Their many books on Warren contain great insight into his techniques and approach to the market. While too numerous and complex to detail in their entirety, one surprisingly straightforward factor that contributes to his investing success is simply this: he buys old companies.

Why? Because Warren likes companies that have predictable products and predictable profits. And a brand-name product or service that’s been around a long time, preferably decades, gives a company a durable competitive advantage, which usually results in better and more consistent performance. Warren’s famous explanation of why he likes Wrigley’s chewing gum, which was first introduced in the 1890s, perhaps says it best: “I don’t think the Internet is going to change how people chew gum.”

David Clark and Mary Buffett detail his preference for old companies in their book The Warren Buffett Stock Portfolio:

Why is OLD so important to Warren? It has to do with the product or service the company is selling. Take Coca-Cola for an example. Coke has been manufacturing and selling the same product for well over a hundred years. It spends very little on research and development and has to replace its manufacturing machinery only when it wears out. This means that the company gets maximum economic use out of its plants and equipment before it has to replace them.

Old also goes to the nature of the product. Do you think that if Coke has been selling the same product for the last hundred years, it will be selling the same product ten or twenty years from now?

Now, I don’t highlight this passage to recommend buying Coca-Cola stock—my preference for broad-based and diversified ETFs, as well as my Raymond James compliance department, prevents me from making this recommendation. However, I do highlight the passage to emphasize the importance of considering a company’s age before investing in it. It’s certainly not a complicated strategy, but nevertheless, all things being equal, buying older is better.

Indeed, when I looked at the components of the S&P 500 and ranked them all by ‘years of incorporation’ and simply split the Index in half, the oldest half has outperformed the youngest half over both the past five years and the past 10 years. Unsurprisingly, these older companies have also been less volatile. (Looking at periods longer than 10 years gets problematic as the number of data points gets scarcer as too many younger companies actually don’t have 15-, 20- or 30-year trading histories.) What’s even more remarkable is that the youngest half contains a large proportion of high-flying information technology and consumer discretionary stocks such as Netflix and Amazon. Yet collectively, the old fuddy-duddies, like Johnson & Johnson and Kroger, still came out on top overall. In fact, virtually all of the top-10 oldest companies were incorporated prior to 1900 (some prior to the Civil War!).

The youngster in the top-10 was Eli Lilly, but even this company was still incorporated over a century ago in 1901. (To put 1901 into perspective, there were fewer than a million phones in use in the US and carrier pigeons were still sometimes used to send messages.) So, clearly, in terms of business models, any companies that’ve been around for a hundred years or more must know a thing or two about creating and offering successful products and services.

I further examined how this older-is-better approach has infiltrated (albeit somewhat unintentionally) our own portfolio management at Turner Investments. In particular, with our Canadian equity exposure. For many years now we have taken a non-benchmark approach to the Canadian equity market, overweighting an ETF that minimizes volatility and dramatically limits energy exposure. However, as it turns out, this ETF also contains companies that are much older on average than those in the overall S&P/TSX Composite. Unsurprisingly, the ETF that we selected has strongly outperformed:

Better with age

Source: Bloomberg, *measures years of incorporation
Click to enlarge

So, Warren Buffett, as usual, was right. Older is better.

Companies, it seems, are like fine wines: they get better with age.
____________________________________________________________

And finally, this came in my junk mail this week. Could there be a surer sign that Covid-19 is becoming a normalized part of our lives? I hope that they’re all actually smiling under those masks…

Doug Rowat, FCSI® is Portfolio Manager with Turner Investments and Senior Vice President, Private Client Group, Raymond James Ltd.

 

 

105 comments ↓

#1 Dave on 06.27.20 at 9:43 am

Firrrrrrrrst!

#2 crowdedelevatorfartz on 06.27.20 at 9:45 am

Older is better!
We Boomers always knew that.
Eventually Millenials will be old and wise….but not today.

#3 binky barnes on 06.27.20 at 9:45 am

Everyday mask wearing will not suit ruggedly handsome gentlemen like Buffet, you and me, Doug.

And first. I must be first….

BB

#4 KNOW IT ALL on 06.27.20 at 9:52 am

“Predictable products and predictable profits”

……… derived from ESSENTIAL products and services.

Everything else is uninvestable.

#5 Jeff on 06.27.20 at 10:14 am

Buffet and Munger aren’t touching this market.

#6 Nick on 06.27.20 at 10:51 am

I don’t think Warren Buffet is a good investor. He clearly missed out on best investment in the world.

He should have invested in Lower Brainland real estate.

Look, even when stock market is effy, lower Brainland home prices are climbing and selling like hot cakes.

#7 Leo Trollstoy on 06.27.20 at 11:05 am

Fine wines like GE

#8 Ronaldo on 06.27.20 at 11:11 am

Face masks. How unhealthy can that be? Breathing in exhaled air for hours on end. No thanks. Feel sorry for all those people in fast food restaurants like Tims and Macs having to wear these things all day. I expect there will be consequences. But for now, appearance is what matters I guess.

#9 UmiouiuS on 06.27.20 at 11:29 am

An excellent article in ‘Entrepreneur’:

’25 Surprising Facts About Warren Buffett’

https://www.entrepreneur.com/article/290381

And here is unsurprising fact #26:

Warren Buffett is not welcome in Leamington, Ontario.

#10 Andrewski on 06.27.20 at 11:51 am

Re: Dave #1: “These young guys always come first, she said with exasperation!”

#11 Sail Away on 06.27.20 at 11:59 am

Dog training

There’s an old joke:

Man: What? You’re leaving me? But I stayed with you through cancer and your car accident, let you move in after your house burned down, and supported you when you lost all your money!

Woman: Yes. You’re bad luck.

—————–

Apply this psychology to bird dog training: anything memorable that happens during initial introduction will forever be ingrained, so always keep it controlled, happy, exciting and cheerful. A friend has a lab that can’t be used to hunt geese because she (the dog) goes crazy barking and lunging and completely blows your cover when they fly by. Ducks, grouse, pheasants- everything else is fine but NOT geese.

Turns out the whole litter is this way. The breeder finally fessed up that the litter of 7-week pups had found a goose family by the pond and got thoroughly whomped. Forever traumatized.

For our four month pup, at this point, things are perfect. Birds are fun, water is fun, cars are fun, gunshots/fireworks bring treats, the crate is a place of random and unexpected snacks, all people are super nice… everything new is just FUN.

No early trauma. Simplifies life forever. Of course, he has to be a good citizen and follow the rules, but the pack is training him for that.

#12 baloney Sandwitch on 06.27.20 at 12:01 pm

Interesting post. Could you post the companies in your model?

#13 Flop... on 06.27.20 at 12:01 pm

Robax, this article might be of interest to you.

When I see the word ‘churn’ I have visions of some poor soul chucking up on a boat…

M46BC

“A Century of America’s Top 10 Companies, in One Chart
Economists like to explain the constant churn of the economy as “creative destruction.” It implies a silver lining when a single company breaks up—something better might take its place. An interesting way to think about this concept is by looking at historical examples of companies that have come and gone. That’s exactly what our new chart does.

The top ten largest companies in each year are all different. The rankings change, and as time goes on, companies lose their place on top of the list. The one exception is AT&T, which held the second spot in 1917 and 1967. That is, until the U.S. government famously broke up AT&T (which is why it’s probably not in the top 10 today). AT&T is the exception that proves the rule.
Technically speaking, most of these companies still exist today, but only because they went through substantial business model changes or were acquired by a competitor. Steel companies aren’t nearly as important as they once were. Within the energy sector, Texaco and Standard Oil both merged with competitors. Polaroid and Kodak essentially became obsolete. It remains to be seen how much longer some companies like Sears and GE can stay afloat.

And finally, consider the diversity of companies 50 and 100 years ago. The top ten largest firms used to represent a variety of different industries, from oil and gas conglomerates to retailers and auto manufacturers.

Nowadays, technology behemoths dominate the top five, followed by Warren Buffet’s massive holding company in Berkshire Hathaway. The massive steel monopolies from a century ago pale in comparison to the size of tech companies today. This suggests that the Internet has concentrated financial power in the boardrooms of only a handful of companies like never before. This is one of the many reasons why tech companies have to worry about regulators busting up their monopolies.”

https://howmuch.net/articles/100-years-of-americas-top-10-companies

#14 Tim Ceswick on 06.27.20 at 12:08 pm

EQ Bank 2.7% GIC, TFSA, RRSP. I can’t afford to lose like back in 2007-2008. I only need a modest $1,100 a month for my cost of living, property taxes, utilities, food all other expenses. My C.P.P., OAS and small tax free RRIF withdrawal $2,000 a year covers 100% of that plus I have $250 each month left to put in my reserve account.

The rest of my non-registered is locked in all 2.85%, 3.1% 10 year OSB’s interest accumulates at $24,000 a year.

#15 ImGonnaBeSick on 06.27.20 at 12:08 pm

#79 ain’t life rand on 06.26.20 at 10:47 pm
@#60 ImGonnaBeSick on 06.26.20 at 7:33 pm

Good job proving JonBoy’s point… You literally got offended, called him a caveman living in an historical framework and a deplorable redneck ala the confederate flag comment .. Are you a complete oblivious idiot, or just a partial one? Maybe you better go have that timeout on a bench again…
———————————

you calling someone else an idiot is incredibly funny

—-

Whoa now! I never called Faron an idiot… I merely asked if he was one…

#16 Sail Away on 06.27.20 at 12:16 pm

#9 UmiouiuS on 06.27.20 at 11:29 am

And here is [an] unsurprising fact:

Warren Buffett is not welcome in Leamington, Ontario.

——————

Yes, for this reason (from Global News, 2013):

“A soaring loonie in recent years has made plants across the country ripe for cutbacks or closures by multinational firms who can easily shift production to cheaper regions. More than 30,000 factory jobs were lost in Ontario alone in 2013.”

740 Kraft Heinz workers lost their job. As IH says: don’t blame the player, blame the game.

#17 Ken M. on 06.27.20 at 12:25 pm

Buffet buys newspapers and harley davidson? Says he does not know why he buys newpapers. He can’t even keep up to the S&P 500, year in and year out.

Best thing to buy is the opposite of what the regular idiots in this comment section buy.

#18 Katherine on 06.27.20 at 12:31 pm

#14 Tim Ceswick

EQ Bank 2.7% GIC, TFSA, RRSP.

I also keep $ in EQ bank. Can’t beat 2% interest on savings account and can access any time. But do believe they don’t offer TFSA or RRSP accounts. Wish they did.

#19 Sail Away on 06.27.20 at 12:45 pm

#17 Ken M. on 06.27.20 at 12:25 pm

Best thing to buy is the opposite of what the regular idiots in this comment section buy.

—————–

Agreed, Kenny baby.

What are you buying, by the way?

#20 NoName on 06.27.20 at 12:47 pm

Interesting read

https://www.forbes.com/sites/zakdoffman/2020/06/26/warning-apple-suddenly-catches-tiktok-secretly-spying-on-millions-of-iphone-users/amp/?__twitter_impression=true

#21 Steerage Wisdom on 06.27.20 at 12:48 pm

It’s called Lindy…………..

#22 greyhound on 06.27.20 at 12:52 pm

I dunno, can we still worship at the altar of W. Buffet after Davey Portnoy’s complaints?
Idea: Maybe Garth Turner could interview Portnoy for a Greater Fool post. Total-number-of-views could break all time records!

#23 UmiouiuS on 06.27.20 at 12:55 pm

#16 Sail Away on 06.27.20 at 12:16 pm
#9 UmiouiuS on 06.27.20 at 11:29 am

Yes, for this reason (from Global News, 2013):

“A soaring loonie in recent years has made plants across the country ripe for cutbacks or closures by multinational firms who can easily shift production to cheaper regions. More than 30,000 factory jobs were lost in Ontario alone in 2013.”

740 Kraft Heinz workers lost their job. As IH says: don’t blame the player, blame the game.
****************************

Indeed so, SA.
And thereafter, French’s greatly increased their share of the Canuck ketchup market via the many who waved ‘adieu and adios’ to Buffett’s Heinz heinie.

https://www.cbc.ca/news/business/french-s-heinz-ketchup-leamington-sales-1.5102789

#24 Lambchop on 06.27.20 at 1:05 pm

#130 Tater on 06.26.20 at 12:23 pm
#119 Lambchop on 06.26.20 at 10:50 am

Since when are we not allowed to disagree or have oir own opinions?
—————————————————

What opinion do you have that you think you aren’t allowed to have? And why do you think that just because you express an opinion you should be free from criticism

____________________

Not to hijack today’s excellent post, this is a late response to a comment on Thursday’s blog.

Of course I’m “allowed” to have any opinion I so choose, as is anyone else. However, lately there are some serious repercussions for expressing even the most benign opinions, and I don’t think that’s acceptable.
I have linked a Rex Murphy article on the subject that expresses what I feel in a much more eloquent way than I can.

https://nationalpost.com/opinion/rex-murphy-the-right-to-your-own-opinion-is-a-keystone-of-a-true-democracy

#25 Doug t on 06.27.20 at 1:13 pm

#17 Ken

What do you buy so we can buy the opposite oh wise one

#26 Blog Bunny on 06.27.20 at 1:14 pm

Wear a mask only if you are sick to protect others. Wearing it outdoors is plain silly.

#27 JSS on 06.27.20 at 1:18 pm

Why buy Buffett stock when you can buy an S&P500 etf, and get similar and better returns. Over the last decade, buffet has been trailing behind the s&p 500.

#28 SoggyShorts on 06.27.20 at 1:44 pm

#99 salty dawg on 06.27.20 at 8:09 am
#80 SoggyShorts on 06.26.20 at 11:18 pm

Yeah, I think having a benchmark is very important, especially if you are putting in the hours that you must be.

Perhaps you are in that very small group(5%?) of active investors who can consistently beat the market, but you’ll want to know if it’s worth the time- a couple of hundred hours a year plus the transaction fees on ~300 trades add up, and your time has value.

I’m probably paraphrasing Garth here by cobbling together a decade of blog posts but: Unless you are on the board of a company, and know everything about the industry and competitors as well as their clients and all macro factors, how can you feel like you know enough to place a short-term bet on a single company?

The past 24 months were an excellent proving grounds for active investors.
♦The drop in Q4 2018,
♦The fat returns in 2019,
♦The crash in 2020 March, and
♦The returns since.

There were soooooo many potential mistakes and wins to be had, I’d love to know how many professional and amateur investors beat the S&P 500.

VOO in June 2018 and 2020 was about 250 and 280 for a 12% gain. Add in some dividends and you got somewhere around the long-term 7% returns that everyone talks about- even during some of the most volatile markets in a decade. It’s quite close for a 80/20 or 60/40 too and much smoother.

#29 SoggyShorts on 06.27.20 at 1:46 pm

My personal investment philosophy is this: “Winner’s keep on winning.” And I probably stole that line from somewhere too.
(Edit: I was typing this out on yesterday’s post and refreshed before submitting, so now I have a good guess as to where I got it from)

Why I believe it to be true (aside from historical returns) is that the game is rigged, Companies that are big and powerful enough to get into the top 500:
♦Spend insane money lobbying to get favorable laws
♦Have such big bankrolls that they buy anyone who could become a competitor
♦Are entrenched with their established customer base(e.g. “Apple fanboys”)
♦Have well-established supply chains with exclusivity contracts
♦Get volume discounts on any input costs

And, if all of the above fails to keep them on a winning streak, the government will step in and bail them out because politicians can’t afford the lost jobs if they want re-election.

#30 SoggyShorts on 06.27.20 at 1:55 pm

@doug Is there an ETF of these older companies? My google-fu is failing me.

While I’ve moved away from S&P 500 splits like VGG which only includes members who increase dividends, it would be another interesting benchmark

#31 Are we still debating masks? on 06.27.20 at 2:27 pm

#26 Blog Bunny on 06.27.20 at 1:14 pm
Wear a mask only if you are sick to protect others. Wearing it outdoors is plain silly.
———————–
But… you can be sick and not know it, that’s the whole problem. Otherwise, we’d only have sick people stay at home, right?
“outdoors” by yourself, obviously no mask.
“outdoors” walking through the parking lot to the place while walking past other parking lot people? Then mask = yes.

Unless, of course, you can tell me with a straight face that you have never, ever in your life had a surprise cough or sneeze, and spittle has never, ever accidentally flew from your face hole whilst you were talking.

#32 Gotta Get Out of Calgary on 06.27.20 at 2:29 pm

#26 Blog Bunny on 06.27.20 at 1:14 pm
Wear a mask only if you are sick to protect others. Wearing it outdoors is plain silly.

____________________________________________

The ones that give me a chuckle are the vehicles with sole occupants wearing a face mask inside their cars.

Many people seem to lack understanding that a non-medical face mask will not protect a person from contracting an air-borne virus. If you are breathing, you are at risk. The mask simply lessens the risk of the droplets landing on you directly when someone close sneezes or coughs. Isn’t this what the distancing was supposed to do as well?

I am noticing a number of people lately with a false sense of security from wearing a mask and gloves. Comments overheard in public places indicate they feel they don’t need to distance or use good sanitary practices since they are “protected”.

#33 NSNG on 06.27.20 at 2:30 pm

So this whole thing has been a conspiracy by facemask companies to move product!

Drat!

#34 Doug Rowat on 06.27.20 at 2:59 pm

#28 SoggyShorts on 06.27.20 at 1:44 pm
#99 salty dawg on 06.27.20 at 8:09 am
#80 SoggyShorts on 06.26.20 at 11:18 pm

I’m probably paraphrasing Garth here by cobbling together a decade of blog posts but: Unless you are on the board of a company, and know everything about the industry and competitors as well as their clients and all macro factors, how can you feel like you know enough to place a short-term bet on a single company?

Well, you’re definitely paraphrasing me:

“And who can possibly keep track of management quality or the inner boardroom workings for all the individual companies that you might own? You’ll be caught off guard constantly.”

https://www.greaterfool.ca/2018/11/03/fraud/

–Doug

#35 mike from mtl on 06.27.20 at 3:02 pm

Honestly, I should have taken uncle Warren’s advice, buy VOO & BND forget the rest. Looking at the last few years I can’t justify why diversification is worth the risk.

-TSX as usual goes nowhere
-EU/APIC same
-EM zig zag to nothing
-Preferreds don’t even come close to GIC-level total returns
-REITs are okay all considered
-Bonds holding up which is expected

The only thing keeping most of the gains is the sp500, without that I wold have been better off clipping GICs. Not to mention the sp500 is pretty unique in that the mega corps basically are international and most well known non-US corps are cross listed on NYSE anyway.

#36 I've lost weight on 06.27.20 at 4:00 pm

#97 NoName on 06.27.20 at 7:31 am

Other tips include: gain more muscle with weight training. Also, reduce the amount of oil used in cooking. And be careful with eating nuts – they are packed full of calories.

The best advice I can give is start watching Coach Greg from Nova Scotia. He has great advice if you can stand his voice. Start here:
https://www.youtube.com/watch?v=ACS7a6Khmuo

And don’t cut out too many calories per day because the last thing you want to do is lose muscle. Best of luck getting back in shape!

#37 ain't life rand on 06.27.20 at 4:03 pm

@#24 Lambchop on 06.27.20 at 1:05 pm
#130 Tater on 06.26.20 at 12:23 pm
#119 Lambchop on 06.26.20 at 10:50 am

Since when are we not allowed to disagree or have oir own opinions?
—————————————————

What opinion do you have that you think you aren’t allowed to have? And why do you think that just because you express an opinion you should be free from criticism

____________________

Not to hijack today’s excellent post, this is a late response to a comment on Thursday’s blog.

Of course I’m “allowed” to have any opinion I so choose, as is anyone else. However, lately there are some serious repercussions for expressing even the most benign opinions, and I don’t think that’s acceptable.
I have linked a Rex Murphy article on the subject that expresses what I feel in a much more eloquent way than I can.

https://nationalpost.com/opinion/rex-murphy-the-right-to-your-own-opinion-is-a-keystone-of-a-true-democracy
—————————

sadly, most people seem to get ‘their’ opinions from facebook conspiracy theory threads.

The loudest folks on the internet definitely seem to be the dumbest.

#38 ain't life rand on 06.27.20 at 4:05 pm

@#17 Ken M. on 06.27.20 at 12:25 pm
Buffet buys newspapers and harley davidson? Says he does not know why he buys newpapers. He can’t even keep up to the S&P 500, year in and year out.

Best thing to buy is the opposite of what the regular idiots in this comment section buy.
——————————-

i’m not disagreeing that the regs on here are idiots, but with a statement like that you have to tell us what you’re buying.

#39 Sail Away on 06.27.20 at 4:08 pm

#23 UmiouiuS on 06.27.20 at 12:55 pm

Re: Buffett closed Leamington Heinz

—————-

And thereafter, French’s greatly increased their share of the Canuck ketchup market via the many who waved ‘adieu and adios’ to Buffett’s Heinz heinie.

https://www.cbc.ca/news/business/french-s-heinz-ketchup-leamington-sales-1.5102789

—————-

Never knew there was a French’s.

#40 R on 06.27.20 at 4:53 pm

I look at the market from a different lens. I think a better way is to to ask : Is this company a disrupters, or will it be disrupted ? To me, GM, Ford even BMW are dead companies walking. The same with oil & gas ( will take longer), and traditional banks. Renewable energy management companies like Tesla, will undermine traditional ICE auto manufactures, the fossil fuel industries ,auto insurance, ride hailing and even railways. I want to try to be on the right side of change.

#41 spia on 06.27.20 at 6:00 pm

Hard to stick to it when one is bombarded with the media hyping up the flashy and new. Good post . Thanks.

#42 Felix on 06.27.20 at 6:04 pm

And Warren Buffett is bullish on cats.

No wonder he is smart, respected, and a billionaire.

No surprise.

https://www.marketplace.org/2014/04/02/warren-buffetts-advice-tweet-cats/

Good luck matching Mr. Buffett, foolish dog worshippers!

#43 TurnerNation on 06.27.20 at 6:33 pm

How DID the world get taken over, shut down, all culture cancelled in only one week – this March?
I’ll tell you. We’ve been distracted for an entire century.
Since the advent of instant mass media in the 1920s- 100 years ago – that was the beginning of what’s going on today.

Each decade they gave us a new fad, new music, new dance, new drug. Manufactured culture.
Manufactured consent.
You know them. The Charleston, Twist, Head banging , Macarena, Twerking, Gangnam style, bunny hop, Moonwalking and on and on. Something every decade.

All the stuff created post WW2 forced men into wearing their hair long – as women.
Rock n roll. Goth. Emo. Grunge. Hippies. Metal bands. They didn’t even hide it, remember Hair Bands and the Moptops? All about gender bending.
Today gender’s been pushed off a cliff.

The social media age. Me me me. Selfies. Doing it for the ‘Gram. So distracted we’ll accept or the ignore anything. Manufacturing consent.

Media was used to program us..using programing.
To create: The Century of the Self.
https://en.m.wikipedia.org/wiki/The_Century_of_the_Self
Because. ..in the late 20s this guy had perfected propaganda.
https://en.m.wikipedia.org/wiki/Edward_Bernays

100 years later.. our lives are ruled by the numbers on the telescreens.

Print this post. It will explain the acceptance of the daily changes we see being rolled out.

#44 Masks on 06.27.20 at 6:33 pm

Unfortunately the chief medical examiners around Canada dropped the ball by flip flopping on masks.
The problem now we are more at risk then anytime since this started. People are becoming to relaxed.
And yes I will agree after all the BLM rallies we did not see a spike. But as stated many times you will see spikes as in Kingston last week.

As stated above many people have the virus and don’t know it. As much as 30 percent of the population is a systematic

Right now a mask is your civic duty to protect others when you cannot social distant. And N95 hospital grade masks should protect you from everyone else.

If masks are useless why did the mayor of Kingston pass into law everyone in the city must wear a mask.

There are many studies that indicate if you get the virus you will have long term health consequences.

Personally at the beginning I Thought about My chances of catching the virus and figured it was very remote. But I have changed my opinion Canada is still at risk so please do not let your guard down, social distancing washing hands and if you can where a mask to protect others.
Just look at the numbers sky rocketing in the states
Not good.

#45 NoName on 06.27.20 at 6:43 pm

#39 Sail Away on 06.27.20 at 4:08 pm
#23 UmiouiuS on 06.27.20 at 12:55 pm

Re: Buffett closed Leamington Heinz

—————-

And thereafter, French’s greatly increased their share of the Canuck ketchup market via the many who waved ‘adieu and adios’ to Buffett’s Heinz heinie.

https://www.cbc.ca/news/business/french-s-heinz-ketchup-leamington-sales-1.5102789

—————-

Never knew there was a French’s.

cmon SA garlick french catchup best! but watch, its 20 cal per squeeze!

https://www.helloflavour.ca/en-ca/our-brands/frenchs/products/ketchup/frenchs-roasted-garlic-ketchup-type-sauce

#46 NoName on 06.27.20 at 6:50 pm

#36 I’ve lost weight on 06.27.20 at 4:00 pm
#97 NoName on 06.27.20 at 7:31 am

Other tips include: gain more muscle with weight training. Also, reduce the amount of oil used in cooking. And be careful with eating nuts – they are packed full of calories.

The best advice I can give is start watching Coach Greg from Nova Scotia. He has great advice if you can stand his voice. Start here:
https://www.youtube.com/watch?v=ACS7a6Khmuo

And don’t cut out too many calories per day because the last thing you want to do is lose muscle. Best of luck getting back in shape!

Thank you for link!

#47 PetertheSeparatistfromCalgary on 06.27.20 at 6:52 pm

Better be careful Doug some woke nut case might accuse you of “corporate ageism” or worse accuse Turner Investments of “systemic ageism”.

#48 earthboundmisfit on 06.27.20 at 7:05 pm

Baloney Sandwich: “Interesting post. Could you post the companies in your model?”

This is how it works:
For that, you’ve gotta give Raymond James / Turner Investments 10K for every million in your stash. Your call, but it looks and feels better in my Levis than it does in theirs. Not rocket science bro.

#49 Chris Zalenski on 06.27.20 at 7:22 pm

My uncle who works as a municipal worker for the city of Toronto talked to me about the 2035-2036 Toronto revenue tools plan.

It is quite simple, the city of Toronto wants to extract from every Toronto homeowner an average of $10,000 per year by 2035-2036 meaning the main sources of their tax, fee grabbing ways, property taxes, water and waste management/garbage bills known as utility bills, other fees from parking permits to parking tickets, fines to future new user fees, taxes.

#50 Sail Away on 06.27.20 at 7:27 pm

Very good article about reasons many support Trump.

https://torontosun.com/opinion/columnists/furey-looks-like-its-time-for-a-pro-trump-column

#51 Ballingsford on 06.27.20 at 7:34 pm

Mask wearing people when no one is around is ridiculous. And you look ridiculous. I thought people wearing masks alone in the car was over the top.
Then I saw a father and son on separate bikes (pedal bikes) wearing a mask yesterday in a quiet residential neighborhood.
Poor boy that has to grow up with that father.

#52 Tyberius on 06.27.20 at 7:46 pm

#19 Sail Away on 06.27.20 at 12:45 pm

#17 Ken M. on 06.27.20 at 12:25 pm

Best thing to buy is the opposite of what the regular idiots in this comment section buy.

—————–

Agreed, Kenny baby.

What are you buying, by the way?

+++++++++++++++++++++++++++++++++++++

At +108% last 3 months I think I’ve done OK.
I’d share my strategies but then, why give it away for free?
Hint: now is time to be doing more selling than buying. The time to have been buying was mid- to late March

Good Luck Dawgs!

#53 Nonplused on 06.27.20 at 7:46 pm

Monopolies or near monopolies are good too. For example let’s look at Alberta. Even Encana, formerly Alberta Energy Company and Pan-Canadian, has left the building. They spit out the heavy oil as Cenovus and then their oil and gas wells all ran dry and their shale gas became uncompetitive, so they headed south.

But TC Energy, Enbridge, CN and CP are all still making a lot of money on transporting Alberta energy. They don’t care who is producing it, it has still got to go somewhere. If you do have enough money to buy individual stocks and want exposure to energy those 4 are pretty safe buys. Plus CN and CP give pretty good exposure to the Canadian economy as a whole. It’s hard to see how they are going anywhere as the barriers to entry in that market are huge. I cannot imagine what it would take to build a new coast to coast railway in Canada right now. Just securing the right of way would be near impossible. And CN and CP already have all the good ways over the mountains. And if Elon Musk ever does manage to sell electric trucks, those will be relatively short range so they will be used to haul goods from the train station to where they need to end up. Plus trains can run on electricity too, but they don’t need batteries. If Russia could electrify the trans-Siberia railway (which they did), CN and CP could electrify their systems too. It’s all a matter of economics. Doesn’t make sense right now but might one day.

Regulated utilities are also a good cash cow unless they are located in California. Owning CWNG and NGL (now ATCO Gas) saved Atco from certain bankruptcy in the 80’s. You’ll never see shares in Atco pull a Tesla, but not a bad thing to own a bit of.

So here is what I would like to see in my newly created “Canadian Long Term Holdings” ETF:

Enbridge
TC Energy
CN
CP
Several regulated utilities
Weston
The banks
McCain and a few other food/agriculture companies
Molson
The Toronto Maple Leafs
Nova
Rona
Sobey’s
Syncrude
Shaw
Goldcorp
Fairmont Hotels
Cadillac Fairview

Probably not going to make a double on that portfolio anytime soon but you’d do ok.

#54 Pandemic on 06.27.20 at 8:26 pm

#8 Ronaldo on 06.27.20 at 11:11 am
Face masks. How unhealthy can that be? Breathing in exhaled air for hours on end. No thanks. Feel sorry for all those people in fast food restaurants like Tims and Macs having to wear these things all day. I expect there will be consequences. But for now, appearance is what matters I guess.

———————

What exhaled air do you suppose these people wearing masks are inhaling? I mean other than the cloud of exhaled air that constantly surrounds us all?

Masks work and that is why dentists and surgeons have been wearing them for years. Do they work 100%? No. But they work better than nothing.

By your logic body repair mechanics shouldn’t wear masks when sanding or painting either. But we know from experience that leads directly to cancer a whole lot faster than smoking. And the paint fumes are a whole lot smaller than the water droplets that transmit covid. Mind you a painting mask is a very different thing than the dental masks we are being asked to wear in crowded places now, but painting masks would be overkill and are not as easy to manufacture. They sure would work though. Damn things are good enough to survive a chemical attack for a while. I sprayed some weeds the other day and I wore my painting mask and I smelled nothing. Like weirdly nothing. Not even the lilacs.

#55 willworkforpickles on 06.27.20 at 8:32 pm

#44 Masks..
I don’t like masks myself and won’t wear one .
The last time I did, I needed to adjust it numerous times in about 2 hours touching the mask each time whereas I would not have touched anywhere near my face otherwise. The whole idea of not touching the face until you are able to wash hands is to prevent transmission from hands to the eyes and mouth goes out the window here.
Basically from a touching/adjusting a mask to where it eventually is riding up into your lower eyelids and can infect you though the pores/glands of the eyes standpoint anyway.

#56 Nonplused on 06.27.20 at 9:09 pm

#94 BillyBob (yesterday)

Thanks. I don’t always get to yesterday’s comments but it is nice to know someone is reading. So really, thanks.

#57 crowdedelevatorfartz on 06.27.20 at 9:16 pm

@#43 TurnerNation

As John Cleese once so eloquently expressed it many years ago in a movie….

“……….you are so mercifully free of the ravages of intelligence……”

#58 Dr V on 06.27.20 at 9:23 pm

46 No name – I’m about 10 lbs over fighting weight right now, even though I spend over 30 hr a month on the bike. Some things I’ve “forgotten” over this year.

Weight train esp through the winter. You have to go at it hard enough to trigger the metabolism but not with so much volume you build big muscle (though you can do that if you want)

Cut back on the juices, Even though they can be good sources of vitamin C, they have a calorie count as high as soda. Especially applicable in the evening.

Speaking of the evening, don’t just eat dinner then sit.
Even just a walk after dinner can help. If you do an activity after work – say a long bike ride – don’t eat a
full dinner when you get home.

Make sure your cardio isn’t all at the same moderate intensity. Get some intervals into the anaerobic zone.

And NO days off. sometimes unavoidable, but do not schedule them. Change the activity, or lighten the load but don’t take a day off and do nothing.

#59 Bytor the Snow Dog on 06.27.20 at 9:37 pm

#37 ain’t life rand on 06.27.20 at 4:03 pm snorts:

“sadly, most people seem to get ‘their’ opinions from facebook conspiracy theory threads.

The loudest folks on the internet definitely seem to be the dumbest.”
———————————————–
Stop yelling!

#60 Bytor the Snow Dog on 06.27.20 at 9:41 pm

#37 ain’t life rand on 06.27.20 at 4:03 pm snorts:

“sadly, most people seem to get ‘their’ opinions from facebook conspiracy theory threads.

The loudest folks on the internet definitely seem to be the dumbest.”
—————————————
Why are you yelling?

#61 Rc on 06.27.20 at 9:45 pm

Buffet was wrong about the gum

Globally there has been a decline in gum consumption in line with the increase in mobile phone adoption. People used to chew gum when they were bored or nervous or just waiting around, now they use their phones. For the last decade the big CPG brands have been stressed about the global gum market. Priorities.

#62 Stone on 06.27.20 at 9:52 pm

#32 Gotta Get Out of Calgary on 06.27.20 at 2:29 pm
#26 Blog Bunny on 06.27.20 at 1:14 pm
Wear a mask only if you are sick to protect others. Wearing it outdoors is plain silly.

____________________________________________

The ones that give me a chuckle are the vehicles with sole occupants wearing a face mask inside their cars.

Many people seem to lack understanding that a non-medical face mask will not protect a person from contracting an air-borne virus. If you are breathing, you are at risk. The mask simply lessens the risk of the droplets landing on you directly when someone close sneezes or coughs. Isn’t this what the distancing was supposed to do as well?

I am noticing a number of people lately with a false sense of security from wearing a mask and gloves. Comments overheard in public places indicate they feel they don’t need to distance or use good sanitary practices since they are “protected”.

———

Apparently, ignorance abounds everywhere including this blog.

#1: Wearing a mask does not protect the wearer but those around the one wearing the mask. The one wearing the mask is being courteous to those around them in case the one wearing the mask could be asymptomatic. Any water droplets created by the wearer of the mask settle inside the mask and not beyond. I agree if you’re in your own car or somewhere where there are no other people or you’re only with someone from your own household with no one else around, it makes no sense to wear the mask. It’s really for crowded areas like going into a store or being on a busy street where you can’t adequately social distance. My take on it is that most people are too poor/cheap/ignorant to understand that and show courtesy to their fellow citizen by wearing a mask in situations noted above when warranted.

#2: After all this time, too many people who read this blog and add their comments in the peanut gallery don’t seem to understand the point of investing and instead only want to trade/gamble with their money. What’s difficult to understand? Buy broad based index ETFs and rebalance occasionally. Fill up your TFSA, RRSP, and non-registered investment accounts as much as you can to have a comfortable life before and after you retire.

Omitting to do both #1 and #2 could be detrimental to your health and wealth. On the other hand, for those who want to continue to be ignorant/cheap/poor/gamblers/ traders, you are poor judges of risk and reward. Enjoy being roadkill.

#63 HALF OF US HOMEOWNERS PLANNING TO SELL on 06.27.20 at 10:16 pm

it’s all over folks. Get out while you can if you own an investment property. The real issues are not being addressed properly here. I am certain that there will soon be a crash in the RE market here too. Chinese are now out of the market. Ask me how I know this ;-)

https://www.studyfinds.org/half-of-u-s-homeowners-struggle-with-mortgage-due-to-covid-19-consider-selling-home/

#64 SoggyShorts on 06.27.20 at 10:26 pm

#52 Tyberius on 06.27.20 at 7:46 pm
#19 Sail Away on 06.27.20 at 12:45 pm
#17 Ken M. on 06.27.20 at 12:25 pm

At +108% last 3 months I think I’ve done OK.
***********************
That’s a pretty huge brag for no details.
Do you smell what I smell?

#65 Loonie Coder on 06.27.20 at 11:03 pm

From yesterday’s blog – which Ontario public sector DB plan is cutting benefits?

#66 no blog for old men on 06.27.20 at 11:04 pm

@#59 Bytor the Snow Dog on 06.27.20 at 9:37 pm
#37 ain’t life rand on 06.27.20 at 4:03 pm snorts:

“sadly, most people seem to get ‘their’ opinions from facebook conspiracy theory threads.

The loudest folks on the internet definitely seem to be the dumbest.”
———————————————–
Stop yelling!

#60 Bytor the Snow Dog on 06.27.20 at 9:41 pm
#37 ain’t life rand on 06.27.20 at 4:03 pm snorts:

“sadly, most people seem to get ‘their’ opinions from facebook conspiracy theory threads.

The loudest folks on the internet definitely seem to be the dumbest.”
—————————————
Why are you yelling?

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

bytor, you’re looking pretty dumb right now lol

#67 kommykim on 06.27.20 at 11:40 pm

RE:#12 baloney Sandwitch on 06.27.20 at 12:01 pm
Interesting post. Could you post the companies in your model?

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

RE:For many years now we have taken a non-benchmark approach to the Canadian equity market, overweighting an ETF that minimizes volatility and dramatically limits energy exposure.

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

I suspect they are holding something like the ZLB low volatility ETF for their Canadian holdings as it only contains 1.4% energy:

https://www.bmo.com/gam/ca/advisor/products/etfs?fundUrl=/fundProfile/ZLB!hash!holdings#fundUrl=%2FfundProfile%2FZLB%23holdings

#68 Ronaldo on 06.27.20 at 11:41 pm

Personally, if I ‘had to’ wear a face covering when out in public, I would choose the face shield over the mask any day. I will continue to use the N95 when working in my shop to guard against sawdust or dust from sanding or when working with paints and solvents.

Spent a nice day touring around the Cowichan Valley and stopped for lunch at a nice little cafe in Genoa Bay where the owner and employees were wearing plastic face shields simular to the one in the following link. For me, this makes a lot more sense and is much more useful than the cloth face masks which are not as effective.

Never saw one person wearing a mask today.

https://www.medicinenet.com/script/main/art.asp?articlekey=230978

#69 Doug t on 06.27.20 at 11:55 pm

#43 TurnerNation

TRUTH spoken here

#70 Marco on 06.28.20 at 12:34 am

Well, Warren Buffett wife divorcing him, also said that she imagined herself marrying a doctor or an engineer, like useful member of society. For him Just to have ability to make money was disappointing to her. Well at least she had freedom to express her opinion because he provided well for her in their settlement.

#71 Gone but not forgotten on 06.28.20 at 12:39 am

#44 Masks on 06.27.20 at 6:33 pm

1.) “If masks are useless why did the mayor of Kingston pass into law everyone in the city must wear a mask.”

OMG… A perfect example of how silly people can be. If a mayor said it, it must be true since mayors are just so smart. I haven’t laughed that much since I moved out of Ontario! Not a moment too soon I might add.

——————————————-

2.) “There are many studies that indicate if you get the virus you will have long term health consequences.”

Simply NOT true. Stop spreading propaganda. Show your sources. Only a small percentage of people have any lasting effects from the virus.

#72 NSNG on 06.28.20 at 12:54 am

#58 Dr V on 06.27.20 at 9:23 pm

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

You were mentioning Beethoven yesterday and his struggle with hearing loss.

If you haven’t yet, you might want to seek out the movie Immortal Beloved. It is a bit speculative but it shows how he struggled as he lost his hearing. The ending is fantastic as it shows him conducting the debut of his 9th symphony when he was completely deaf

The ending still sticks with me after many years

#73 Tim123 on 06.28.20 at 1:06 am

I read a few books about Warren Buffett’s style of investing when I first started investing and they emphasized some other points that were very important such as buying stocks in companies with a moat around them, and to understand what they do, the importance of balance sheets and the importance of competitive advantages as well as monopolies and oligopolies. He is the world’s greatest investor and he is still very highly respected on Wall Street even at 89 years old, people pay attention when he speaks or takes positions in stocks. I have had shares in his company Berkshire Hathaway off and on throughout the years as it is like a giant mutual fund with himself and his investment team running it.

#74 Spectacle on 06.28.20 at 3:15 am

#11 Sail Away on 06.27.20 at 11:59 am
Dog training

There’s an old joke:

Hi Sail away.

Amazing psychological analog tonight!
I took my young son to kits ( yvr) beach tonight and we enjoyed the full experience. It had exactly the same bonding Dad/son effect as raising a pup. He is sensiitive to sound & over social stimulation, imprinting. Caution in social outings requires diligence, to not cause that damage .
I’m working so diligently to be The best father I can be for him. Its just like raising a working , social pup.

It really is thatvtiugh, and that simple. He will not become a social misfit, as we old guys would describe them. His radar on socisl events is pretty acute at 4 y old.
Oh, and thanks fir everything you do Sir Turner.

Night

#75 Spectacle on 06.28.20 at 3:39 am

#43 TurnerNation on 06.27.20 at 6:33 pm
How DID the world get taken over, shut down, all culture cancelled in only one week – this March?
I’ll tell you. We’ve been distracted for an entire century.
Since the advent of instant mass media in the 1920s- 100 years ago – that was the beginning of what’s going on today.
—————-

And no mention of the seperation of the Trudeas, she badically seperated for valid reasons. He goes on vacation on his own she went to the UK, I’ll leave the drama around that alone! Preþu serious situation though.

The demise of Justins aspirations for UN appointment now firmly botched ( cost canadians hundreds of millions. …) .

We might never hear detsils of the Trudeai associated Non profit, that just got a contract for $900,000. , yes nearly a billion dollar contract for cerb student volunteer payments admin. Does crime pay ?

Oh, and thanks fir everything you do Sir Turner.

Night

#76 Spectacle on 06.28.20 at 3:58 am

So apologetic about my phone/thumbs based spellings errors. That was a Billion dollar contract $900,000,000. Contract that Trudeau just appointed himself through his “charity”. Was that ” shut the f up” money for his wife? You decide. Canada is close to being a sole dictatorship. And tbat bothers me. Any one else?

#77 BillyBob on 06.28.20 at 5:05 am

#62 Stone on 06.27.20 at 9:52 pm

Apparently, ignorance abounds everywhere including this blog.

#1: Wearing a mask does not protect the wearer but those around the one wearing the mask. The one wearing the mask is being courteous to those around them in case the one wearing the mask could be asymptomatic. Any water droplets created by the wearer of the mask settle inside the mask and not beyond. I agree if you’re in your own car or somewhere where there are no other people or you’re only with someone from your own household with no one else around, it makes no sense to wear the mask. It’s really for crowded areas like going into a store or being on a busy street where you can’t adequately social distance. My take on it is that most people are too poor/cheap/ignorant to understand that and show courtesy to their fellow citizen by wearing a mask in situations noted above when warranted.

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

Thank you so much for posting this.

It is apparently just too hard for people to understand that there are different types of masks and different reasons to wear them. People have this weird need now for everything to be in binary terms or their heads explode. Masks good! Masks bad! They don’t eliminate risk so I won’t even attempt to reduce it! It’s a liberal plot to control us! I have rights!

Why not actually think about what we’re trying to achieve here: slowing the spread of a virus, that’s spread by the moisture in exhaled breath. Since I could be contagious without even knowing, I wear a mask, heck any cloth barrier, to reduce the large droplets I exhale for you to breathe. More important in close proximity and denser occupancy than open space and solitude. Duh. My simple mask protects YOU. Yours protects me. Except of course, you’re too busy sneering and demonstrating your rugged individuality.

The concept of doing something to protect the group versus doing something to protect oneself is just not as prevalent in Western cultures as Eastern. The John Wayne mythos. Exemplified by the US, closely emulated by many Canadians. Seems to be working out great for the Americans. If only those Taiwanese would just learn from them how to handle a pandemic, right?

Risk reduction when risk elimination isn’t possible is intelligent risk management. And until the virus either dies out through acquired immunity or a vaccine is discovered, manage it is the best we can do.

The irony is that I actually subscribe strongly to ideals of independence and self-sufficiency. But they don’t apply in a pandemic: a virus doesn’t care about your personal philosophies.

And I can’t think of a stupider hill to die on than whining against wearing a simple mask in crowded public spaces because well, *reasons*.

#78 Bytor the Snow Dog on 06.28.20 at 8:18 am

#77 BillyBob on 06.28.20 at 5:05 am babbles:

“Thank you so much for posting this.

It is apparently just too hard for people to understand that there are different types of masks and different reasons to wear them. People have this weird need now for everything to be in binary terms or their heads explode. Masks good! Masks bad! They don’t eliminate risk so I won’t even attempt to reduce it! It’s a liberal plot to control us! I have rights!

Why not actually think about what we’re trying to achieve here: slowing the spread of a virus, that’s spread by the moisture in exhaled breath. Since I could be contagious without even knowing, I wear a mask, heck any cloth barrier, to reduce the large droplets I exhale for you to breathe. More important in close proximity and denser occupancy than open space and solitude. Duh. My simple mask protects YOU. Yours protects me. Except of course, you’re too busy sneering and demonstrating your rugged individuality.

The concept of doing something to protect the group versus doing something to protect oneself is just not as prevalent in Western cultures as Eastern. The John Wayne mythos. Exemplified by the US, closely emulated by many Canadians. Seems to be working out great for the Americans. If only those Taiwanese would just learn from them how to handle a pandemic, right?

Risk reduction when risk elimination isn’t possible is intelligent risk management. And until the virus either dies out through acquired immunity or a vaccine is discovered, manage it is the best we can do.

The irony is that I actually subscribe strongly to ideals of independence and self-sufficiency. But they don’t apply in a pandemic: a virus doesn’t care about your personal philosophies.

And I can’t think of a stupider hill to die on than whining against wearing a simple mask in crowded public spaces because well, *reasons*.”
————————————————

Your post shows how far the general intelligence levels of society at large have fallen. The main fallacy that you and the mask crew support is that everyone should wear a mask to “protect” us from something. Protect us from what? A virus? Does EVERYONE have the virus? No. So what exactly are you protected from?

The second issue is that indeed personal liberties do matter. They matter a lot more than “protecting” us from a fake pandemic caused by a virus that IS NOT a risk to general society. However the Depression that will eventually result sure is.

But you do you. Keep on Sheepin’ on.

#79 Sail Away on 06.28.20 at 8:24 am

#64 SoggyShorts on 06.27.20 at 10:26 pm
#52 Tyberius on 06.27.20 at 7:46 pm
#19 Sail Away on 06.27.20 at 12:45 pm
#17 Ken M. on 06.27.20 at 12:25 pm

At +108% last 3 months I think I’ve done OK.

—————–

That’s a pretty huge brag for no details.
Do you smell what I smell?

—————–

Yes. It’s only a legit brag if the buy was also posted at time of buying. Very easy to be a hindsight genius.

Some do pull it off and kudos.

I’ve been pretty much sitting on my hands the last few months. One arbitrage play in NVU-UN about a month ago was my last trade. Cash is piling up. Waiting and watching.

#80 Tudval on 06.28.20 at 8:52 am

#16 Sail Away That was the work of the ‘brilliant’ BofC governor at the time, who thought there were fundamental reasons for the loonie to be above par (!?). I notice he only got one term at the Bank of England. Was the guy ever overrated! The last guy we had was no prize either. When are we going to figure a stable currency vs our most important trading partner is the best economic strategy.. the Europeans figured that out long ago, even the Chinese.

#81 Penny Henny on 06.28.20 at 9:01 am

#97 NoName on 06.27.20 at 7:31 am

Iam trying to loose weight but I am putting it.

Calories in out is so is not gonna work, unless you eat 20-25% of daily intake, and if you’ll try to function and what you supposed to good luck… Maybe some people can I couldn’t, having real job sucks…

If there is anyone who can help me with this and tell me what I am doing wrong I am all ears. I have spread sheets to prove it…

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

Investigate low carb diets.
Excellent reading is ‘Good calories, bad calories’
by Gary Taubes. It is very tough read (for me at least) as it is very clinical, he is a science writer.
For the dumbed down version read ‘Why we get fat’

#82 Dharma Bum on 06.28.20 at 9:40 am

Older is better.

Just like people.

#83 Stone on 06.28.20 at 10:21 am

#78 Bytor the Snow Dog on 06.28.20 at 8:18 am
#77 BillyBob on 06.28.20 at 5:05 am babbles:

“Thank you so much for posting this.

It is apparently just too hard for people to understand that there are different types of masks and different reasons to wear them. People have this weird need now for everything to be in binary terms or their heads explode. Masks good! Masks bad! They don’t eliminate risk so I won’t even attempt to reduce it! It’s a liberal plot to control us! I have rights!

Why not actually think about what we’re trying to achieve here: slowing the spread of a virus, that’s spread by the moisture in exhaled breath. Since I could be contagious without even knowing, I wear a mask, heck any cloth barrier, to reduce the large droplets I exhale for you to breathe. More important in close proximity and denser occupancy than open space and solitude. Duh. My simple mask protects YOU. Yours protects me. Except of course, you’re too busy sneering and demonstrating your rugged individuality.

The concept of doing something to protect the group versus doing something to protect oneself is just not as prevalent in Western cultures as Eastern. The John Wayne mythos. Exemplified by the US, closely emulated by many Canadians. Seems to be working out great for the Americans. If only those Taiwanese would just learn from them how to handle a pandemic, right?

Risk reduction when risk elimination isn’t possible is intelligent risk management. And until the virus either dies out through acquired immunity or a vaccine is discovered, manage it is the best we can do.

The irony is that I actually subscribe strongly to ideals of independence and self-sufficiency. But they don’t apply in a pandemic: a virus doesn’t care about your personal philosophies.

And I can’t think of a stupider hill to die on than whining against wearing a simple mask in crowded public spaces because well, *reasons*.”
————————————————

Your post shows how far the general intelligence levels of society at large have fallen. The main fallacy that you and the mask crew support is that everyone should wear a mask to “protect” us from something. Protect us from what? A virus? Does EVERYONE have the virus? No. So what exactly are you protected from?

The second issue is that indeed personal liberties do matter. They matter a lot more than “protecting” us from a fake pandemic caused by a virus that IS NOT a risk to general society. However the Depression that will eventually result sure is.

But you do you. Keep on Sheepin’ on.

———

Hi Karen.

#84 TurnerNation on 06.28.20 at 10:21 am

If you doubt the power of media and predictive programming, waiting with others also buying nonessentials from a window, even a few semi-normals yesterday were speaking in hushed tones about a “second wave”. I didn’t have the heart to ask them if they knew anyone actually sick.
What comes along but a real Branch Covidian! Big vented mask and all. Overall their health didn’t look the best. Mid 50s maybe.
Small talk ensued. I learned they knew a few people overseas who were sick (wow people get sick?! Well I never..) and an older person with other issues, died overseas.
So scared were they here that they had others scattering and clearing in their path. Outta the way, I’m scared.
So why were they outside and buying non essentials? Where is their full face shield?

Don’t they know the covid is everywhere. It can get into your eyes, ears, latch on to hair folicles!!! Perhaps invisible ominous clouds lurk in the air around you.
Ok I’m joking now. What else to do when confronted by the irrational. And it’s spreading fast.

Keep an eye on XBI.US Etf. Biotechnology.
As for LLY yep the pharma solution. Some people gonna need lots of that. Justin’s Soma for the locals. Turn on, tune in and drop out.

#85 George Gordonne on 06.28.20 at 10:21 am

An elderly statesman named PM Modi has the balls to stand up to China .

Reuters India: Boycott of Chinese goods may not be feasible, Indian exporters say.
https://in.reuters.com/article/india-china-boycott/boycott-of-chinese-goods-may-not-feasible-india-export-body-idINKBN23W0Z4

Trudeau….no balls. Doesn’t that make you ashamed of your choice.

#86 NoName on 06.28.20 at 10:30 am

@ penny hennessey

Low carb diet

What my usual day of 2050 calories I take is something between low carb, fat and carnevoare diet, only sugar that I consume is one that comes in Tim’s DD, rice sometimes fruit and occasional cheat of french fries and take out but that is rare. Vegetables for fiber and ofcourse Balkan style yogurt and probiotics supplement.

So I can say that diet is 80% “healthy” an progress is less than minimal. I know this not weight loss diet blog but let’s get to the money part.

Over last few years that I am doing this Iv noticed that to feed family relatively healthy diet is considerably much more expensive.

Beers, not as often I would like to!

Recent microbrewery find is great, especially off the grid, hazy pale ale, second runnr up us low tide.

https://www.lcbo.com/webapp/wcs/stores/servlet/en/lcbo/beer-cider-16/gift-and-sampler-packs-16118-1/taster-pack-16118296/lake-of-bays-10th-year-celebration-pack-16499#.Xvio-rlE33A

#87 Doug Rowat on 06.28.20 at 10:34 am

#78 Bytor the Snow Dog on 06.28.20 at 8:18 am
#77 BillyBob on 06.28.20 at 5:05 am babbles:

————————————————

Your post shows how far the general intelligence levels of society at large have fallen. The main fallacy that you and the mask crew support is that everyone should wear a mask to “protect” us from something. Protect us from what? A virus? Does EVERYONE have the virus? No. So what exactly are you protected from?

The second issue is that indeed personal liberties do matter. They matter a lot more than “protecting” us from a fake pandemic caused by a virus that IS NOT a risk to general society. However the Depression that will eventually result sure is.

But you do you. Keep on Sheepin’ on.

Care to link us all to a video of you exercising your “personal liberties”? A video of you ignoring mask rules in, say, a family medical clinic or seniors home would be especially sweet. Remember: show everyone your beautiful, unprotected face.

You might not like being a sheeple (fair enough), but in the end, you probably are one.

–Doug

#88 crowdedelevatorfartz on 06.28.20 at 10:48 am

@#85 Gordon Gordon

Well, on the flip side.
Our leader could talk any other leader to death with boredom.
Perhaps we should lock Trudeau in a room with Xi Jinping.
I figure after about three hours of politically correct “ummm”,”errrr”, “ahhhh” speachifying ……

Xi would be ready to give us anything

#89 Dr V on 06.28.20 at 10:57 am

72 NSNG – Thanks. I have the DVD.

#90 Dr V on 06.28.20 at 11:04 am

NSNG – found this by total coincidence

https://www.cbc.ca/news/entertainment/beethoven-s-hearing-loss-may-have-shaped-musical-style-1.987357

#91 Stone on 06.28.20 at 11:09 am

#87 Doug Rowat on 06.28.20 at 10:34 am
#78 Bytor the Snow Dog on 06.28.20 at 8:18 am
#77 BillyBob on 06.28.20 at 5:05 am babbles:

————————————————

Your post shows how far the general intelligence levels of society at large have fallen. The main fallacy that you and the mask crew support is that everyone should wear a mask to “protect” us from something. Protect us from what? A virus? Does EVERYONE have the virus? No. So what exactly are you protected from?

The second issue is that indeed personal liberties do matter. They matter a lot more than “protecting” us from a fake pandemic caused by a virus that IS NOT a risk to general society. However the Depression that will eventually result sure is.

But you do you. Keep on Sheepin’ on.

Care to link us all to a video of you exercising your “personal liberties”? A video of you ignoring mask rules in, say, a family medical clinic or seniors home would be especially sweet. Remember: show everyone your beautiful, unprotected face.

You might not like being a sheeple (fair enough), but in the end, you probably are one.

–Doug

———

6 out of 5 stars and 2 thumbs up.

#92 Oakville Rocks! on 06.28.20 at 11:49 am

Seeing as Beethoven is being discussed by Dr V & NSNG, are you partial to any specific recordings of Beethoven by conductors/orchestras? At this point I have explored most of Karajan and the Berlin Philharmonic on vinyl and would recommend any of them. I think Karajan made 3 cycles of the Symphonies throughout his career. It is interesting to hear his interpretation evolve.

Also, you cannot go wrong with any of Dr Robert Greenberg’s lectures on Classical Music as part of the Great Courses. I listen through Audible but I believe they are available elsewhere and maybe free somewhere.

#93 the Jaguar on 06.28.20 at 12:06 pm

Mask debates aside, take a listen ( if you are so inclined) to this podcast on just how damaging the lockdown has been. About 50 minutes, but if you are pressed for time the bit at 21:14 is horrifying. It’s based on USA situation, but certainly could be applied in Canada as well……

https://www.hoover.org/research/doctor-scott-atlas-and-efficacy-lockdowns-social-distancing-and-closings

#94 the Jaguar on 06.28.20 at 12:15 pm

#87 Doug Rowat on 06.28.20 at 10:34 am
#78 Bytor the Snow Dog on 06.28.20 at 8:18 am
#77 BillyBob on 06.28.20 at 5:05 am babbles:

Note how Doug added ‘babbles’ behind the BillyBob link. Very passive aggressive. Don’t mess with Captain Ross, Doug….lol.

#95 Rick Rachlique on 06.28.20 at 12:17 pm

What justification for 6%+ dividend yields for CIBC and other financials. Why is this not a red flag for bank dividends and bank share prices being cut to very low levels like interest rates are now with max 5 year 1.5% to 2.3% GIC rates bond, yields 0.30% to 1.0% Canada bond yields.

This is all out of wack and sooner or later many investors in bonds and preferred shares will lose a bundle, 25% to 40% minimum.

#96 NSNG on 06.28.20 at 12:30 pm

@ #90 Dr V on 06.28.20 at 11:04 am

Fascinating :)

I understand many of the greats wrote their symphonies in their heads. This was what was implied of Mozart in the movie Amadeus. They must have been amazing people to be around

#97 Sail Away on 06.28.20 at 12:35 pm

#94 the Jaguar on 06.28.20 at 12:15 pm
#87 Doug Rowat on 06.28.20 at 10:34 am
#78 Bytor the Snow Dog on 06.28.20 at 8:18 am
#77 BillyBob on 06.28.20 at 5:05 am babbles:

Note how Doug added ‘babbles’ behind the BillyBob link. Very passive aggressive. Don’t mess with Captain Ross, Doug….lol.

—————

It was also wrong.

Doug wasn’t disagreeing with BillyBob, so he insulted him needlessly.

#98 jess on 06.28.20 at 12:37 pm

kodak ? 70-20-10
=============
5 George Gordonne on 06.28.20 at 10:21 am

“one needs the “balls”? check out this person
pauli murray

plenty of blame if one looks locally

profiteering

handyman-for-hire app called TaskRabbit, doing odd jobs and delivering groceries,

“Taskers” earning about $20 an hour were ripping Chinese masks out of plastic bags and stuffing them into new ones that were identical but for one potentially deadly difference. The old packages were labeled in all caps “MEDICAL USE PROHIBITED,” meaning not to be used by doctors and nurses who need the strongest protection from tiny particles carrying the novel coronavirus. The new bags, intended to make their way to Texas hospitals, simply omitted that warning.

==========
https://www.propublica.org/article/the-trump-administration-paid-millions-for-test-tubes-and-got-unusable-mini-soda-bottles

https://www.propublica.org/article/a-trump-official-tried-to-fast-track-funding-for-his-friends-unproven-covid-19-treatment-whistleblower-says

#99 jess on 06.28.20 at 12:44 pm

privatize the profits socialize the losses ?

Hospitals Got Bailouts and Furloughed Thousands While Paying C.E.O.s Millions

Whistleblowing virologist Rick Bright says that his Trump-appointed boss tried to fast-track funding for a friend’s coronavirus treatment, and that he was reassigned for insisting that funding be reserved for “safe and scientifically vetted solutions.”
https://www.propublica.org/article/health-insurers-to-investors-were-good-health-insurers-to-lawmakers-please-help

#100 Reading Comprehension: It's a Thing on 06.28.20 at 12:58 pm

#97 Sail Away on 06.28.20 at 12:35 pm
#94 the Jaguar on 06.28.20 at 12:15 pm
#87 Doug Rowat on 06.28.20 at 10:34 am
#78 Bytor the Snow Dog on 06.28.20 at 8:18 am
#77 BillyBob on 06.28.20 at 5:05 am babbles:

Note how Doug added ‘babbles’ behind the BillyBob link. Very passive aggressive. Don’t mess with Captain Ross, Doug….lol.

—————

It was also wrong.

Doug wasn’t disagreeing with BillyBob, so he insulted him needlessly.

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

Though not in evidence amongst Trump supporters and Fox News devotees.

#101 Genesis II on 06.28.20 at 1:57 pm

On masks…
They’re basically useless except in specific situations, like surgeries etc.
But very effective in dehumanizing society, as TurnerNation has adequately documented.
I won’t wear one…unless a gun is held to my head.

#102 Sail Away on 06.28.20 at 3:15 pm

#100 Reading Comprehension: It’s a Thing on 06.28.20 at 12:58 pm
#97 Sail Away on 06.28.20 at 12:35 pm
#94 the Jaguar on 06.28.20 at 12:15 pm
#87 Doug Rowat on 06.28.20 at 10:34 am
#78 Bytor the Snow Dog on 06.28.20 at 8:18 am
#77 BillyBob on 06.28.20 at 5:05 am babbles:

Note how Doug added ‘babbles’ behind the BillyBob link. Very passive aggressive. Don’t mess with Captain Ross, Doug….lol.

————–

It was also wrong.

Doug wasn’t disagreeing with BillyBob, so he insulted him needlessly.

—————

Though not in evidence amongst Trump supporters and Fox News devotees.

—————

Never has a stone been so clearly thrown through a glass house.

#103 Russ on 06.28.20 at 3:27 pm

I’ve lost weight on 06.27.20 at 4:00 pm
#97 NoName on 06.27.20 at 7:31 am

Other tips include: gain more muscle with weight training. Also, reduce the amount of oil used in cooking. And be careful with eating nuts – they are packed full of calories.

The best advice I can give is start watching Coach Greg from Nova Scotia. He has great advice if you can stand his voice. Start here:
https://www.youtube.com/watch?v=ACS7a6Khmuo

And don’t cut out too many calories per day because the last thing you want to do is lose muscle. Best of luck getting back in shape!
=====================

Garth’s Blog diet tip #5:

It is okay to sit around eating bon bons, cookies & chocolate and stay in shape.

As long as you remember that round is a shape.

cheers, R

#104 Dups on 06.29.20 at 10:04 am

Now there is a mask that you can show your smile!
WORLD’S FIRST TRANSPARENT FDA REGISTERED, N99+ SMART MASK WITH UV-C STERILIZING THAT SHOWS-OFF YOUR SMILE
https://www.yankodesign.com/2020/06/27/worlds-first-transparent-fda-registered-n99-smart-mask-with-uv-c-sterilizing-that-shows-off-your-smile/

#105 Prince Polo on 07.01.20 at 8:44 am

#102 Sail Away on 06.28.20 at 3:15 pm
#100 Reading Comprehension: It’s a Thing on 06.28.20 at 12:58 pm
#97 Sail Away on 06.28.20 at 12:35 pm
#94 the Jaguar on 06.28.20 at 12:15 pm
#87 Doug Rowat on 06.28.20 at 10:34 am
#78 Bytor the Snow Dog on 06.28.20 at 8:18 am
#77 BillyBob on 06.28.20 at 5:05 am babbles:

Note how Doug added ‘babbles’ behind the BillyBob link. Very passive aggressive. Don’t mess with Captain Ross, Doug….lol.

————–

It was also wrong.

Doug wasn’t disagreeing with BillyBob, so he insulted him needlessly.

==============================
After some careful investigative journalism, it should be noted that Bytor (not Doug), was the original user of “babbles”.

Happy Canada Day y’all!