In praise of boring

So a balanced, boring, pedantic, sleep-at-night, diversified and demure portfolio has had a fine 2021. Up double-digits. Sure, the equity cowboys who ride among us will brag about returns that trump this, but for most people getting a decent performance without worrying about losses is a win.

This blog has said it often. Investing ain’t gambling. And it’s not a race. Never give your money to some dude who swears he can shed alpha all over it. Almost nobody is smarter than Mr. Market, so the point of a portfolio is twofold. First, consistency – so you can plan the future. Second, stability – because the enemy is volatility.

This is why we yammer on about a 60/40 split – sixty percent in growth assets and the rest in safer stuff. It’s also why advisors or financial companies promoting different asset mixes for various stages of life have it wrong. We all live in the same world. We all share identical risks and opportunities. Regardless of age. So if you hate losses and want steady results, this works.

Today’s risks?

Lots. Interest rates are too low and have created asset bubbles that won’t survive. The world is pickled in debt – households and governments. Taxes are going up after the pandemic’s over. Trump is coming back. Omicron is here. China’s kinda scary. Putin, too. CBs will be ending the massive stimulus that created $1 million suburban bungalows. The virus killed of the work ethic. Inflation’s the highest in almost three decades. Millennials are nesting. Adele came back.

So, regardless of age, balance works.

If you harbour doubts, look at the past week. On Friday the media was obsessed with the latest virus variant, politicians kneejerked and investors panicked that the recovery could be derailed. Stock markets plopped. Bonds went up. Yields fell. On Monday there was a relief rally because, well, it’s just a variant. Science will squish it. The Tuesday another big drop when the US central bank boss said inflation is no myth so the Fed will start to trim its bond-buying, setting the stage for an interest rate increase.

Like, did we not know that was coming?

Of course we did. And in Canada the central bank has already turned the tap off, completely ending its ‘quantitative easing’ (QE) activities, going from $5 billion a week in bond-snorfling, to zero.

The point is this: volatility has come back. Oil has gone from the mid-$80 range to mid-$60s in a flash. Climate events, like the sinking of BC beneath the waves, are making supply chain issues worse. Have you seen the grocery store shelves in Burnaby?

This is our world. Uncertainty. Inflation’s too hot and CBs need to corral it. But hiking rates too much, too fast will wound economic growth, just at a time when Omicron is sticking it slimy little digits into the machinery. Meanwhile only a third of the world’s population is vaccinated, so it’s a sure bet that billions of people lacking the jab will prove to be a breeding ground for more variants. Maybe Covid is here forever. And how are we going to deal with $2 trillion in household debt in Canada when the cost of money finally starts to normalize? Meanwhile Canada drifts further left and into the clutches of those who want more government, more public spending and – as a result – more taxes?

Yep, so this is why the equity cowboys and those telling young investors to double down on risky assets ride a dangerous beast. The post-pandemic future may look bright, but as the last few days have shown, scary stuff can happen. The best defence against volatility and what it does to your emotions is to have balance. Diversity. Peace.

In 2022 we don’t expect stock markets to act like they did this year. Bond yields, central bank rates and mortgages will be increasing. Taxes will be a big story. Inflation probably won’t peak for a number of months. It’s an election year in the States. Assume trouble. WFH will be ending, and pet shelters filling. Real estate will be impacted mid-year as inventories rise. All-in-all, it looks like a time during which you’d want no surprises in a portfolio.

So do it.

About the picture: “I would like to introduce you to our 4 month old English Cocker Spaniel, Puddles,” writes David. “She’s extremely aggressive and thinks your blog is pathetic.  She’s been a pain, but she’s great. I’m not going to suck up to you as Puddles is suck up enough.”

118 comments ↓

#1 BlogDog123 on 12.01.21 at 4:46 pm

stop looking at the daily see-saw up/down on CNBC’s website…

#2 crowdedelevatorfartz on 12.01.21 at 4:47 pm

Empty Shelves in Burnaby.
Looks like Costco.
The IGA and Safeways were just fine.
More rain on the way.
God has foresaken us.

#3 Dolce Vita on 12.01.21 at 4:48 pm

Today’s risks?
-Garth

Dow makes 983-point U-turn, ending sharply lower after first reported U.S. omicron case

https://www.marketwatch.com/story/dow-makes-983-point-u-turn-ending-sharply-lower-after-first-reported-us-omicron-case-2021-12-01

Should have waited to buy another day. Oh well.

#4 Kirk on 12.01.21 at 4:49 pm

One of the best financial innovations has been automatic depositing.

I have auto deposits set up for my investment accounts (60/40, of course) and it’s peaceful bliss.

#5 Stealth on 12.01.21 at 4:50 pm

Thank you,

Seems like there shall be lots of opportunity next year to deploy funds.

Question, this blog produces new material daily. Who writes new content when you don’t feel good (flu etc)?

Sick? Me? You jest. – Garth

#6 Big Bucks on 12.01.21 at 4:51 pm

The Dow has lost 2500 points in 4 weeks but that is nothing to what is coming by year end.Add in another 7500-10000 off the current level which will wipe out all gains on pretty much every portfolio for 2021.Will 2022 be any better?Nope…down again.

#7 Wrk.dover on 12.01.21 at 4:55 pm

I miss my ca$h!

#8 Don Guillermo on 12.01.21 at 4:55 pm

#81 Yukon Elvis on 12.01.21 at 12:34 pm
#78 Ponzius Pilatus on 12.01.21 at 11:20 am
—————————-
What’s your opinion on the 2022 Soccer Worldcup being held in corrupt and autocratic Quatar?
+++++++++++++++++++
We could send you to Quatar to show them how it is done. You could be a goal post or something
***************************************
Hahahahah, good one. A goal post is perfect. Just need to make sure he doesn’t go as team doctor.

“Austria: Doctor fined for amputating wrong leg of patient … the mistake was identified during a routine bandage change and the patient was told he would have to have his other leg amputated as well.”

https://www.bbc.com/news/world-europe-59498082

#9 SP on 12.01.21 at 4:56 pm

Maybe Covid is here forever. – Garth

Yup. WHO will run out of Greek letters pretty soon. I am looking forward to the time when “breaking-news-OMG-new-COVID-variant!” will become like “whatever, who cares”.

#10 cramar on 12.01.21 at 4:58 pm

The most expensive cities in the world 2021

1. Tel Aviv, Israel
2. Paris, France*
2. Singapore*
4. Zurich, Switzerland
5. Hong Kong, China
6. New York, U.S.
7. Geneva, Switzerland
8. Copenhagen, Denmark
9. Los Angeles, U.S.
10. Osaka, Japan

* Paris and Singapore came in joint second place.

https://www.cnbc.com/2021/11/30/this-is-now-the-worlds-most-expensive-city-to-live-in-eiu.html

—-

So Van & TO don’t even make it into the top 10! Let’s party on in Canada! We’ve got a ways to go!

#11 Prince Polo on 12.01.21 at 5:00 pm

Just do it!

https://www.youtube.com/watch?v=ZXsQAXx_ao0

#12 SP on 12.01.21 at 5:01 pm

Meanwhile Canada drifts further left and into the clutches of those who want more government, more public spending and – as a result – more taxes? – Garth

This drift to the left caused by the virus, is more harmful than the virus itself… This society appears to have no immunity against the state becoming more and more paternalistic (borderline totalitarian actually).

#13 Griffith on 12.01.21 at 5:08 pm

Inflation has ruined engineering supply chains.

We used to buy tanks for chemical mixing at water plants. Went from $30K to 60K. Projects going overbudget, then canceled.

Trying to order electrical components is getting bad too. Stuff that was normally stocked on distributor’s shelves down the street is now backordered several weeks to several months.

Just got word that certain terminal blocks (they connect wires together) are back ordered a few months.

Now we can’t get float switches for water treatment systems. Back ordered over 20 weeks.

The industrial touchscreens we use were getting pretty bad, so we bought dozens of them – all of the local market. No choice. Had to protect our business. These are vital to us.

My job is morphing from designing electrical control systems at a reasonable material and labour cost, to figuring out how to make a patchwork quilt of components and items that ARE available, otherwise nothing will be built.

#14 Oakville Rocks! on 12.01.21 at 5:09 pm

Shipments from the East to Vancouver and parts beyond have resumed for most carriers.

We sent two shipments to Vancouver / Langley last Wednesday (LTL, road freight) – both arrived on Monday and were finally unloaded today. Hopefully they are delivered tomorrow or Friday. All things considered, not bad.

On the other hand, Putin & Adele in the same paragraph? That’s diabolical!

#15 TurnerNation on 12.01.21 at 5:09 pm

Tourism economy – kaput by deign?

– Control over Travel/Movements. Just in time to cancel the Christmas holiday season right? Science in Kanada:

“… all air travellers coming from outside Canada, apart from the United States will now need to be tested at the airport in which they are landing in Canada, whether they are vaccinated or unvaccinated. They will then need to isolate themselves until they get the result of their test” (cp24.com)

— Domestic Berlin Walls. Almost back to normal guys.

https://globalnews.ca/news/8416479/ns-covid-19-travel-restriction-children/
“N.S. suspends out-of-province travel for kids under 12 taking part in sport, art events”


— Of course Christmas will be cancelled! Permanent rolling lockdowns. This is normal!

https://bc.ctvnews.ca/some-regional-covid-19-restrictions-lifted-in-b-c-others-expanded-1.5687840
“For social gatherings, groups of no more than 10 fully vaccinated people may gather indoors”

.LISBON, Dec 1 (Reuters) – Portugal’s government will not hesitate to increase restrictions over Christmas if needed to control a recent jump in COVID-19 cases, Prime Minister Antonio Costa said on Wednesday.

.Austria’s COVID-19 lockdown extended to Dec. 11 (foxnews.com)

.After lifting all COVID restrictions on the 25th of September, Norway imposes new restrictions after infections reach all time high (thelocal.no)

.Map: More than 30 countries institute omicron-related travel restrictions (nbcnews.com)


— Economic lockdowns. Setting us up anew. How many medical staff did they fire? The hospital capacity guys!

.Ontario will need to turn to public health measures to protect its hospitals from patient surges amid staffing shortages: science table (beta.cp24.com)

#16 uncle dave on 12.01.21 at 5:13 pm

When an advisor fee is paid monthly from a TFSA account, is the fee classed as a withdrawal and therefore can that amount be replaced/added to the following years contribution room?

#17 Re-Cowtown on 12.01.21 at 5:14 pm

Climate events in BC….. how about don’t build on a flood plain? Calgary learned that one the hard way in 2013. Difference in Calgary is that there are enough earth scientists who knew why it happened and knew that it was nothing climate related.

CBC, CTV, Global and David Suzuki are as factual as someone who buys a house by the airport and howls for the government to block out the moon because night flights at the airport are keeping them awake.

Climate has nothing to do with what happened in BC. Crappy planning in the 1920’s and 30’s and poor maintenance of the dikes were responsible.

Enviros are just bad at math and they want all of us who aren’t to go along with their silly game of blaming inanimate objects for their own real world failures.

#18 When Will They Raise Rates? on 12.01.21 at 5:17 pm

New cases of Covid in South Africa went from 200 to 8000 in a week…

If Omicron takes hold here – and it will, we’ll be in hard lockdown by Christmas and CERB 2.0 will be in full effect.

BoC will restart QE, inflation be damned.

#19 Andrewski on 12.01.21 at 5:18 pm

I could not get past the dog photo. Cute dog David, however, no dog, unless it’s an actual service dog, should be taken in to what looks like a grocery store, ever.

#20 Mattl on 12.01.21 at 5:19 pm

Love your advice and I follow it fairly closely, particularly the advice to be balanced and the value of ETF’s.

I don’t agree that someone with a long horizon should be okay with returns that are only 3-4% above inflation net fee’s when they can nearly double that return buying the SP 500.

I understand that there will be more volatility and some (lots?) can’t handle it. This people can stop reading here. But anyone not in a comma will recognize the central banks will not let markets fail – they will plow trillions into the economy at the slightest sign of weakness. Look how quickly the pandemic correction turned around.

I think one of the biggest risks, for me anyways, is below market returns. The difference between 6 percent net fees and 10 percent net fee’s over 35 years, 1K a month contribution, is around 2MM. Not sure I’m willing to concede on 1-2MM to sleep a bit better at night, especially with how centrals have responded to crisis.

I say this with peace and love, just another perspective. I do think your advice for most is clearly correct, which is obviously your point.

Good luck with that 10% return for 35 years. – Garth

#21 Dolce Vita on 12.01.21 at 5:19 pm

Europa having a bird.

Austria will impose a €7200 fine on no-vaxers (mandatory vaxing starts Feb next year). Ya, you read the right.

Bargain basement Greece €100 fine on no-vax over 65’s.

Sweden introducing a Vax Passport. Spain already doing it Region by Region, decision left to them. Portugal’s vax pass not working well, Ministry says in as many words “wait already”.

UK 80,485 new cases today per real time ZOE. France 50,000 cases in the past 24 hrs. 10,466 in Switzerland, 10,367 in Austria, 2,485 in Slovenia.

Italia still hanging in there at 15,085 today when you look at per capital cases:

https://i.imgur.com/OieYuvj.png

Mind you, with neighbors like Italia has you just have to worry a bit.

To give you and idea how bad it’s getting, Germany, France and Switzerland are shipping overflow Covid patients to Italia:

https://i.imgur.com/g9jdmEc.png

My Region of FVG a Yellow Zone now. Grazie Slovenia and Austria. FVG’s 1.2M souls booking their booster shot at a rate of 21,000/day. No family XMas (again) Zona Gialla limits indoor seating, get togethers.

———————

As for me:

Sod it all.

I booked a week in nearby Venezia over Christmas.

Il MOSE should hold back any flooding. For sure going to go to Harry’s Bar and get right sloshed on Bellini cocktails (they invented the Bellini), try to sober up at Caffè Florian in Piazza San Marco with their overpriced caffè macchiato and find my way back to Campo Santa Margherita where the hotel is, somewhere there.

#22 cmj on 12.01.21 at 5:19 pm

Thanks for grounding us during another volatile day. It’s pretty scary with new variants and wondering if this will be the new norm for the next few years.

#23 Yukon Elvis on 12.01.21 at 5:19 pm

UPDATE: 1:44 p.m.

Temperatures in the Okanagan continue to rise as the day progresses, and a couple of cities have hit the 20-degree mark.

Kelowna and Vernon have so far reached a high of 17 C, while Salmon Arm hit 18 C.

The South Okanagan is where the hotspots are, with Penticton sitting at a balmy 22 C and Summerland at 20 C as of mid-afternoon.

Digital Meteorologist for The Weather Network Tyler Hamilton tweeted the temperatures are rare this time of year.

#24 Ok, Doomer on 12.01.21 at 5:22 pm

if you really want to know how the elites go about solving problems, here’s a great example:

“NEW YORK — Alec Baldwin told ABC’s George Stephanopoulos in an interview airing Thursday that he did not pull the trigger on a prop gun he was holding on a New Mexico film set when it went off, killing a cinematographer.

“I didn’t pull the trigger,” Baldwin said. “I would never point a gun at anyone and pull the trigger at them. Never.” – end quote

And so there you have it folks; no story here. Time to move along. Alec Baldwin sounds like he took acting lessons at the same drama school that Justin Trudeau attended. Deflect, Deny and wait for the press to rescue him.

#25 Sail Away on 12.01.21 at 5:36 pm

Yes, cowboying can be volatile, but it has its place.

At the 2019 Berkshire AGM, Charlie Munger said that he and Warren Buffett both made their early money in a volatile way by purchasing undervalued holdings, riding them up and cashing out for a profit. Charlie also said their early days were exhausting… so, at a certain point, he and Warren eased out of the ‘cigar butt’ stocks and into more stable and recognized products while continually building the Geico cash machine.

But… both Buffett and Munger individually made their first fortunes with the unloved, beaten-down and super volatile stocks. My heroes.

#26 TurnerNation on 12.01.21 at 5:37 pm

Empty shelves…it will be a long cold winter Comrades. Wait till January 2022 when new mandates will result in the banning of many Truckers from bringing us supplies. Just a slo-mo RESET engineered by our ruling globalists using CV as the cover. Control over our Feeding? Check.

Here are unverified social media comments on this topic:

“””-Heard today the Gov’t of Canada mandated vaccines for all the Jamaican workers that come to southern Ontario to work agriculture. Most of them refused and now we’re short on labor in that sector
-Also short workers at ski hills in AB/Bc cause no Aussies came over.
-Yup, been hearing that throughout summer from the farmers in SW Ontario. Those Jamaicans weren’t so agreeable with the jab.”
-I know a farmer up the road with a huge organic vegetable operation, they rely heavily on Jamaican workers”””


— We pay high taxes for all the stuff we get! Life in a Former First World Country.

.Toronto Police place more than 200 members on unpaid leave over vaccine mandate (toronto.citynews.ca)


— We shut the world down for our Elderly? Now 2 years into this let’s fine their retirement existance.

.Greece Imposes $114 Monthly Fine on Unvaccinated People Over 60N (bloomberg.com)

#27 Mattl on 12.01.21 at 5:38 pm

Good luck with that 10% return for 35 years. – Garth

Why is that? It has returned 10.7% over the past 30.

#28 Don Guillermo on 12.01.21 at 5:40 pm

#2 crowdedelevatorfartz on 12.01.21 at 4:47 pm
Empty Shelves in Burnaby.
Looks like Costco.
The IGA and Safeways were just fine.
More rain on the way.
God has foresaken us.
*************************************
Still need way more rain to wash away all of PP’s sins.

#29 Stone on 12.01.21 at 5:43 pm

#5 Stealth on 12.01.21 at 4:50 pm
Thank you,

Seems like there shall be lots of opportunity next year to deploy funds.

Question, this blog produces new material daily. Who writes new content when you don’t feel good (flu etc)?

Sick? Me? You jest. – Garth

———

Emma Zaun shows up with happy juice prep’d via IV drip.

There is nothing to worry about.

#30 Barb on 12.01.21 at 5:44 pm

Puddles deserves a kinder human…

#31 tulip on 12.01.21 at 5:45 pm

I am not anti-vax, but pro choice. Johnson & Johnson manufactures opioids. Whitehorse has 48.4 out of 100,000 deaths due to opioid overdose. 10 people have died in the Yukon due to the Covid 19 virus. Why are opioids still available? Johnson & Johnson manufactures the vaccine for covid 19. This should give us pause.

#32 Linda on 12.01.21 at 5:45 pm

‘Puddles’ says that her bio is all wrong. ‘I’m just a misunderstood pup’ says Puddles. I mean, look at that face. One bagged pup, ready to go:)

#33 Dolce Vita on 12.01.21 at 5:45 pm

FLOOD TIP for BC

What Italia did to protect Venezia:

https://www.mosevenezia.eu/progetto/

Mind you, they’ve been at it since 1556 AD.

#34 red_falcon on 12.01.21 at 5:55 pm

Yes, we get pleasant surprises in our portfolio every year, like dividend increases to BNS. If that’s what you’re looking for then more surprises await!

However, for most 60/40 based portfolios, you’ll only a fraction of dividend increases, and all the chaff that comes with such a portfolio. I daresay this is a nono for me and my family, who needs ever increasing income, which ETF’s and mutual funds cannot provide. Woo is he or she who thinks ETF’s and Mutual funds are the cats meow. Contemplate this on the tree of Woo!

News flash for you: lots of ETFs pay dividends. Big ones. – Garth

#35 Mattl on 12.01.21 at 6:02 pm

If you don’t follow Wallstreetbets on reddit you are missing out. These are the guys that thought they were financial geniuses in the bull run, post pandemic. They are getting their ass handed to them with all this volatility, lots of fun.

#36 Prep Time! on 12.01.21 at 6:02 pm

Well, if Burnaby is evidence for those who still needed more evidence, some preparations are always in order. Not Armageddon preps, because nobody is going to survive that, but storm and supply disruption preps. The problem isn’t getting better as we increasingly ask more of our systems, especially the electric grid, than they are capable of providing 24/7.

The other day I saw buckets of “emergency food” at Canadian Tire, but whew, the price was off the charts for something you hope you never have to use before it goes bad. So what to do?

Well, you go over to the paint section and get a couple of 5 gallon buckets with lids. These are food grade, at least the ones at CT are. Then you head over to a grocery store and buy dried goods. We are talking beans, peas, flour, sugar, powdered milk, instant oats, pasta, dry packaged soup and the like. Maybe some salt and pepper if you want to get fancy. Leave them in their packaging and put them in the buckets. Seal the lid. Vola! Emergency food on a budget that should last 5 years and maybe 10. Store in a cool dry place and set out some mouse traps.

MRE’s, canned food, and the like are also fine but pretty expensive for something you hope will go bad before you need it. Also no point putting those in buckets.

And don’t forget water! Even during a flood there often isn’t anything to drink. But that is a topic for another day.

#37 crowdedelevatorfartz on 12.01.21 at 6:02 pm

Politically correct pronouns to confuse the search for “they”…..

https://www.msn.com/en-us/news/canada/police-seek-suspect-accused-of-predatory-attack-at-vancouver-skytrain-station/ar-AARm3XK?ocid=winp1taskbar

When will the pc foolishness end?

#38 SP on 12.01.21 at 6:04 pm

#2 crowdedelevatorfartz on 12.01.21 at 4:47 pm
Empty Shelves in Burnaby.
Looks like Costco.
The IGA and Safeways were just fine.
————–
Ah, not a coincidence that I am seeing many new un-typical faces at Superstore and Walmart. Now it has clicked: it’s a “Costco Shopper” look.

#39 F Cook on 12.01.21 at 6:04 pm

Could there really be a Christmas sale in the stock markets this December? I know time in the market beats timing the market, but I just crystalized some gains and now the cash is burning a hole in my sweatpants!

#40 Repurchase Disagreement on 12.01.21 at 6:05 pm

Garth,

Your credibility takes a huge dip when you call a weather event a climate event. Maybe you should learn a little more about the History of Weather and learn to look at some 500 mb charts rather than the insane hyperbole on CBC. Might give you some actual perspective.

https://www.earthdate.org/node/157

Gee whiz, but doesn’t climate cause weather? Asking for a friend. – Garth

#41 Mean Gene on 12.01.21 at 6:06 pm

Is that cake frosting on the top shelf or canned kale?

#42 Dolce Vita on 12.01.21 at 6:10 pm

One last EUROPA BIRD salvo.

New EU travel attire by foreign tourists in their native garb coming to Italia as spotted by Corriere della Sera:

https://twitter.com/Corriere/status/1466172955394781184

…and the headline:

EU considering MANDATORY vaxing.

New German Chancellor on board with that.

And to top off Europa having a Bird, in Germany an anti-vax who compared anti-Covid restrictions to the Holocaust and in protests displayed a Star of David flag was fined €1800.

[use incognito window of they will nag you to death]

https://www.corriere.it/esteri/21_dicembre_01/germania-condanne-no-vax-che-espongono-stella-david-088ae7a6-5294-11ec-ab0b-edc8d88d98d0.shtml

—————–

Italia supposedly stringent according to 2 bricks short of a full load anti-vax Robert F. Kennedy Jr that came here to bitch at us.

Typical know nothing Americano with a big mouth that probably went to Milano for the shopping.

— Italia compared to the rest of Europa doing just fine. Damn near John Constable PASTORAL.

#43 Repurchase Disagreement on 12.01.21 at 6:10 pm

Atmospheric Rivers are meteorologically common, and anywhere along the west cost of North America can get them when a favorable long wave pattern locks in.

Some of these events have been orders of magnitude worse than the recent BC one. And they cannot be caused by SUVs and plastic bags, nor avoided with a tax.

https://en.m.wikipedia.org/wiki/California_flood_of_1605

#44 Moh on 12.01.21 at 6:11 pm

You do know that the media makes a big deal over the variants so people get scared and get vaccinated right!

#45 SW on 12.01.21 at 6:12 pm

“… and pet shelters filling.”
As our esteemed blog host mentioned many times previously, they are indeed:
Rescue Me.

If it’s happening there, it’s happening here.

#46 Don Guillermo on 12.01.21 at 6:20 pm

#21 Dolce Vita on 12.01.21 at 5:19 pm

I booked a week in nearby Venezia over Christmas.

Il MOSE should hold back any flooding. For sure going to go to Harry’s Bar and get right sloshed on Bellini cocktails (they invented the Bellini), try to sober up at Caffè Florian in Piazza San Marco with their overpriced caffè macchiato and find my way back to Campo Santa Margherita where the hotel is, somewhere there.
***********************************

Yes, I’ve checked out Harry’s bar. Approx $30.00 (incl IVA) CAD per Bellini. It’ll be an expensive evening getting sloshed but you’ll have plenty of tourists cheering you on.

#47 NOSTRADAMUS on 12.01.21 at 6:25 pm

LESS THAN FORTHCOMING!
You have to remember the person who puts the story out, gets to shape the narrative. There are so many major wrongs to right on this planet. I’m bewildered by the sheer tone deaf being demonstrated by the Central Banks of the world and their stance on zero interest rates. Logic would suggest, the way to stop speculation and inflation would be to raise interest rates. It’s not like this is a new monetary concept. It’s really hard to prove a negative simply by denying it. Amen Brother.

#48 Nonplused on 12.01.21 at 6:33 pm

#13 Griffith on 12.01.21 at 5:08 pm

Just hire some Russian engineers! They can shoot down a satellite with an old Mechano set and a model rocket they bought online.

#49 Ponzius Pilatus on 12.01.21 at 6:39 pm

#40 Repurchase Disagreement on 12.01.21 at 6:05 pm
Garth,

Your credibility takes a huge dip when you call a weather event a climate event. Maybe you should learn a little more about the History of Weather and learn to look at some 500 mb charts rather than the insane hyperbole on CBC. Might give you some actual perspective.

https://www.earthdate.org/node/157

Gee whiz, but doesn’t climate cause weather? Asking for a friend. – Garth
———————
Lots of simpletons here who can’t distinguish climate from weather.
So instead of calling it climate change, juzt let’s just call it weather change.

#50 Do we have all the facts on 12.01.21 at 6:40 pm

So now volatility is transitory. At some point in time annual increases in the stock issued by all North American companies will track towards annual increases in the North American economy.

The Central Banks have stopped inflating the money supply and are poised to increase the overnight interest rate. These two factors alone will have an impact on the amount of capital directed into the purchase of stock in 2022.

The dividend yield from ETF’s indexed to the S&P 500 declined in 2021 as the value of stocks increased. While dividend yields will increase as the market price of stocks adjusts to a more normal environment the net rate of return on capital invested in 2022 will probably fall.

As capital gains adjust to a normal level investors will probably start shopping for ETFs offering a higher rate of return from dividends and this will increase exposure to risk.

My main point is that volatility has always had an impact on human behaviour. If the rates of return realized from ETF based portfolios were to experience a significant decline the search for alpha would increase.

In these extremely volatile times there is no guarantee that average rates of return generated over the past 25 years will continue. Staying the course is good advice but becomes more difficult to follow when anticipated rates of return are not being realized.

We are only human after all!!

#51 crowdedelevatorfartz on 12.01.21 at 6:45 pm

@#33 Dolce
“FLOOD TIP for BC

What Italia did to protect Venezia:”

++++

Ponzie appreciates the flood avoidance tips since he lives below sea level, behind a dike, south of the Fraser River.
A disaster waiting to happen.

#52 crowdedelevatorfartz on 12.01.21 at 6:50 pm

@#43 Louisiana Repurchase Agreement

“Atmospheric Rivers are meteorologically common,”

+++

Back in the olden days we called, lots of rain from Hawaii in the Winter, …. “a Pineapple express”…. then the Internet media sexed it all up a notch.

#53 Ponzius Pilatus on 12.01.21 at 6:53 pm

#38 SP on 12.01.21 at 6:04 pm
#2 crowdedelevatorfartz on 12.01.21 at 4:47 pm
Empty Shelves in Burnaby.
Looks like Costco.
The IGA and Safeways were just fine.
————–
Ah, not a coincidence that I am seeing many new un-typical faces at Superstore and Walmart. Now it has clicked: it’s a “Costco Shopper” look.
————————
It’s not Costco.
Clue: bananas are only sold in bags at Costco.
And they don’t sell dogs either.

#54 Stone on 12.01.21 at 6:57 pm

#34 red_falcon on 12.01.21 at 5:55 pm
Yes, we get pleasant surprises in our portfolio every year, like dividend increases to BNS. If that’s what you’re looking for then more surprises await!

However, for most 60/40 based portfolios, you’ll only a fraction of dividend increases, and all the chaff that comes with such a portfolio. I daresay this is a nono for me and my family, who needs ever increasing income, which ETF’s and mutual funds cannot provide. Woo is he or she who thinks ETF’s and Mutual funds are the cats meow. Contemplate this on the tree of Woo!

News flash for you: lots of ETFs pay dividends. Big ones. – Garth

———

Coincidentally, I calculated the overall yield for my B&D portfolio today. 2.88%. I think that’s ok.

#55 OK, Doomer on 12.01.21 at 7:05 pm

#48 Nonplused on 12.01.21 at 6:33 pm
#13 Griffith on 12.01.21 at 5:08 pm

Just hire some Russian engineers! They can shoot down a satellite with an old Mechano set and a model rocket they bought online.
++++++++++++++++++++++++++++++++++

Or so say Pravda and the CBC. But I repeat myself.

#56 pPrasseur on 12.01.21 at 7:08 pm

Short term ‘safety’ from fluctuation == long term pain…

Just know it!

What part of “it’s not a race” don’t you understand? – Garth

#57 Charles Ramos on 12.01.21 at 7:12 pm

#36 Prep Time! on 12.01.21 at 6:02 pm

Seal the lid. Vola! Emergency food on a budget that should last 5 years and maybe 10. Store in a cool dry place…

…and set out some mouse traps.

——–

Ah! Mouse rotisserie. Good idea.

#58 When Will They Raise Rates? on 12.01.21 at 7:19 pm

#44 Moh on 12.01.21 at 6:11 pm

You do know that the media makes a big deal over the variants so people get scared and get vaccinated right

——————————

I think they may actually be understating the threat in this case… Refer to that chart re: time to dominance of Omicron vs Delta that Garth posted here last week.

It looks like Omicron is poised to blow through the entire population of vaxxed and unvaxxed alike.

The good news however, is that while more virulent, Omicron seems to be milder… It’s possible that Omicron will bring about an end to the Pandemic via herd immunity as Russian scientists have recently postulated.

Could be a “dark winter”, then done.

#59 active on 12.01.21 at 7:20 pm

60/40 is sooo 2000….only a boomer would suggest that mix….all equities baby! dont be a wuss

#60 Ponzius Pilatus on 12.01.21 at 7:23 pm

#51 crowdedelevatorfartz on 12.01.21 at 6:45 pm
@#33 Dolce
“FLOOD TIP for BC

What Italia did to protect Venezia:”

++++

Ponzie appreciates the flood avoidance tips since he lives below sea level, behind a dike, south of the Fraser River.
A disaster waiting to happen.
————————
As always, I look at the good in a bad situation.
Should I sell my Schnitzel Palace, I will advertise it as “comes with its own lake”.
This being BC, I’ll need clerical help to go thru all the offers.

#61 crowdedelevatorfartz on 12.01.21 at 7:25 pm

@#53 Ponzie’s perennial putdowns
” It’s not Costco.”

+++
Slumming it in Burnaby again were you Ponzie?
Looking for a new place to call home above the flood plain South of the Fraser River?
Note to self.
We were all referring to the photo of the store with empty shelves…
Try and keep up.

#62 Drinking on 12.01.21 at 7:34 pm

Awesome pic and true advice; it is what it is, just gotta deal with it! Realistically most are reaching there breaking point, sad to see!

Different topic that I am sliding in. I am in favor of privatizing CBC or just abolishing the tax paying network; they have really gone so far in whatever direction they are going to that most of us are just shaking our heads in disbelief. Be careful on what you say or else, Rex has a good article on the Post for those who are interested.

#63 Quintilian on 12.01.21 at 7:46 pm

“Meanwhile Canada drifts further left and into the clutches of those who want more government, more public spending and – as a result – more taxes?”

I’m not so sure that Canadians are drifting to the left describes it accurately.

The left is the lesser evil.

Most of us have taken the voters’ version of the Hippocratic Oath, in essence we try to “do no harm” if we can’t make it better.

I think we are being pushed and repulsed by the right.

#64 Repurchase Disagreement on 12.01.21 at 8:15 pm

Gee whiz, but doesn’t climate cause weather? Asking for a friend. – Garth

It’s the other way around. Climate is the average of weather. And should be considered over as long a time horizon as possible. This is first week of classes in an undergraduate Meteorology program stuff.

Also, the sun and a spherical, rotating Earth, with a tilted axis, is what causes Weather. Uneven heating leads to the atmosphere constantly trying to achieve equilibrium…

#65 twofatcats on 12.01.21 at 8:24 pm

Dec 2 Today’s flipped ‘principal residences’

https://www.zolo.ca/st-catharines-real-estate/27-old-coach-road#sold-history

https://www.zolo.ca/grimsby-real-estate/72-sumac-court#sold-history

https://www.zolo.ca/hamilton-real-estate/20-sherman-avenue-south#sold-history

#66 Gravy Train on 12.01.21 at 8:30 pm

#39 F Cook on 12.01.21 at 6:04 pm
“Could there really be a Christmas sale in the stock markets this December? I know time in the market beats timing the market, but I just crystalized some gains and now the cash is burning a hole in my sweatpants.” The time to lock in those gains was last Thursday. :)

#67 Albertaguy in (dry) AB on 12.01.21 at 8:39 pm

watch those atmospheric rivers roll on in

https://bit.ly/3rqzQef

#68 wait there on 12.01.21 at 8:41 pm

will santa need a vaccine passport?

#69 Drinking on 12.01.21 at 8:41 pm

Thanks Garth for posting my previous post on #62 Drinking

Just an update from my previous post for those who care regarding my CBC comment.
Today I watched the BBC, France 24 and Al Jazeera for world news on a different perspective on there part. Whatever one’s beliefs are it is/was a refreshing objective/s on what is going on in this world.
My problem with our taxed paid (plus endless commercials)network is that they do not even compare to what these Networks provide the world, we deserve so much better for the money provided to them…

#70 Ponzius Pilatus on 12.01.21 at 8:43 pm

#66 Gravy Train on 12.01.21 at 8:30 pm
#39 F Cook on 12.01.21 at 6:04 pm
“Could there really be a Christmas sale in the stock markets this December? I know time in the market beats timing the market, but I just crystalized some gains and now the cash is burning a hole in my sweatpants.” The time to lock in those gains was last Thursday. :)
————–
Talking about sales.
Cruise ships and vacation resorts did also have Black Friday sales this year.
Canadian Tire had a Red Thursday sale.
Could Blue Monday, Ruby Tuesday be next.
Don’t you just love Capitalism?

#71 Outrage on 12.01.21 at 8:48 pm

Thanks for the good laugh about interests rates will normalize. Maybe , but not in our life time. The debt is to high to service at 3% or even 4%. Low rates for ever and higher inflation every year. People will just have to accept it because the CB and government wants it that way. So only buy what you absolutely need for now on !

#72 DON on 12.01.21 at 8:52 pm

#44 Moh on 12.01.21 at 6:11 pm

You do know that the media makes a big deal over the variants so people get scared and get vaccinated right!

********
Never ever EVER let a good crisis go to waste.

City of Vancouver eyeing up a 5 percent property tax come June.

Will home insurance is next in BC.

As for inflation it’s going Political more and economy less. Americans are complaining about the persistent inflation.

Cargill has a tentative deal with the union in Alberta…the union seems to have scored…look at the goodies. Seems like most price increases are here to stay.

#73 Wrk.dover on 12.01.21 at 9:40 pm

#51 crowdedelevatorfartz on 12.01.21 at 6:45 pm
Ponzie appreciates the flood avoidance tips since he lives below sea level
_____________________________________

When he was warned, “You’ll get the bends”, he interpreted that as “You’ll get the Benz”.

So while he stays and waits, he even gave away the Audi!

#74 Felix on 12.01.21 at 9:57 pm

Very true, I had not focussed on that much, but dogs truly are boring.

#75 Greg on 12.01.21 at 10:11 pm

Garth love your content and educated perspectives. You always mention the 60/40 are you able to perhaps share the etf/holdings you would recommend? Are you talking VBAL or something different? Thanks.

Greg

VBAL is a mistake. – Garth

#76 Dave on 12.01.21 at 10:11 pm

Early reports on Omicron are that it is EXACTLY typical of what ends a pandemic. A mild version that is highly contagious. We are basically tracking a common cold now.

Trust me, I am smart

#77 Meh on 12.01.21 at 10:18 pm

CBs will be ending the massive stimulus that created $1 million suburban bungalows.

———————————————————–

Lol Garth sir, is that all the CB’s multi trillion dollar “stimulus” created? Maybe Tesla at 170 times earnings (lmao what earnings)and nearly 20% of all companies in the S&P deemed worthless zombie corporations but collectively still worth trillions?

#78 Robert Ash on 12.01.21 at 10:41 pm

Well our Leaders, had a big day and a group hug, thanked one another on a good job, the Legislation to stop/ban Conversion Therapy passed unanimously in the House… All social challenges are important, but spending time on issues, such as this does limit the time available for other important topics….like…

#79 Yansong Gao on 12.01.21 at 11:46 pm

Buy Gold , cabin in woods and stock pile rice.
Only a fool believes in paper and financial assets.

#80 Cici on 12.02.21 at 12:05 am

#13 Griffith

That sounds really stressful. Hope the situation improves soon!

#81 Bye Bye Biden on 12.02.21 at 12:31 am

#6 Big Bucks on 12.01.21 at 4:51 pm

The Dow has lost 2500 points in 4 weeks but that is nothing to what is coming by year end.Add in another 7500-10000 off the current level which will wipe out all gains on pretty much every portfolio for 2021.Will 2022 be any better?Nope…down again.

______________________________________

That’s exactly what I am counting on. Set your sights on 2024. By that time, people will be happy to usher me in again!

Donald Trump 2.0! I’ve got Jared working on my new campaign slogan …. I’ve narrowed it down to two.

For a long time, not a good time! OR If at first you don’t succeed … burn the House down!

#82 Jane24 on 12.02.21 at 1:14 am

Garth it doesn’t matter that only 1/3 of the world is vaccinated as this virus requires that 100% of the world is vaccinated every 6 months and this is impossible. Central London remains a ghost town and the UK govt has just brought another 115 million vaccines for shots 4 and 5 next year. 2019 is never coming back. It is another world now and just when I retire and fancy some cruising and travel! I cannot believe that China got away with it.

#83 Nonplused on 12.02.21 at 1:50 am

#64 Repurchase Disagreement on 12.01.21 at 8:15 pm
Gee whiz, but doesn’t climate cause weather? Asking for a friend. – Garth

It’s the other way around. Climate is the average of weather.

——————————–

Except on Dagobah, where “average of weather, climate is”.

#84 When Will They Raise Rates? on 12.02.21 at 2:53 am

BREAKING NEWS OMICRON SUPERSPREADER EVENT IN NORWAY

“50 suspected omricon cases in Norway after a company dinner with 100 people in attendence. One of the attendees recently got back from South Africa. All 50 suspected cases have gotten at least 2 shots the vaccine”

https://www.svd.se/utbrott-i-oslo-hogst-sannolikt-omikron/om/coronaviruset

https://www.reddit.com/r/Coronavirus/comments/r6v00d/50_suspected_omricon_cases_in_norway_after_a/

#85 When Will They Raise Rates? on 12.02.21 at 3:27 am

VAXXED omicron superspreader event. Confirmed:

https://www.nrk.no/osloogviken/ber-folk-teste-seg-for-omikron-varianten-1.15753934

Back to March 2020 we go…

#86 millmech on 12.02.21 at 3:38 am

#35 Mattl
How about the guy who turned 2k into 137k in ten days, there is another person there who bought Gamestop cheap and now sells CC and makes $400/wk on premium, not too shabby of a return on a couple of grand.
There is some pretty good DD there, just have to look for it and separate it out do a bit of research.

#87 Prince Polo on 12.02.21 at 7:03 am

CIBC missed analysts’ estimates for fourth-quarter profit on Thursday as it raised loan-loss provisions by 36% in its personal and commercial banking unit, and lifted its dividend 10%.

Canada’s fifth-largest lender increased its dividend to C$1.61 from C$1.46, and said it would buy back up to 10 million shares, about 2.2% of outstanding common stock.

https://www.nasdaq.com/articles/canadas-cibc-profit-misses-on-higher-provisions-lifts-dividend-10

#88 crowdedelevatorfartz on 12.02.21 at 7:32 am

@82 Jane24
“It is another world now and just when I retire and fancy some cruising and travel!

++++

Rich and marooned in Blighty or bored in the southern Italian Palazzo…. the horror….the…..horror.

#89 crowdedelevatorfartz on 12.02.21 at 7:36 am

@#86 millmech
” not too shabby of a return on a couple of grand.”
+++
Thats the Canadian political way.
Volunteer, donate a few grand to the Party in power….eventually get a political appointment to some cushy $90k a year job as a “Parole adjudicator” or Board of Director on a Provincial or Federal corporation OR, if you have really groveled for the appropriate amount of time in the media circus maximus…….
The Senate beckons.

#90 crowdedelevatorfartz on 12.02.21 at 7:40 am

@73 Wrk.dvr
“So while he stays and waits, ”

++++

Buy him a Harley and then say, “Get tu de Choppah!” in your best Arnie voice….
It’ll confuse the hell out of him

#91 Do we have all the facts on 12.02.21 at 8:02 am

#64. Repurchase Disagreement

When changes in weather over a period of time begin to appear abnormal experts start evaluating whether the climate of a region, or the globe, may be changing and what might be causing this change.

Weather is only one way of evaluating what might be causing longer term changes in our climate. Changes in weather alone do not always result in climate change.

Levels of CO2 in our atmosphere, changes in the ozone layer, changing air and ocean currents, the shifting axis of the earth etc. all influence the climate of a region or the entire globe.

Changes in weather patterns are not the sole cause of climate change and are often the direct result of climate change. When Garth noted that climate causes weather he was observing that climate change is definitely influencing changes in our weather.

The alternative definition of climate as “a prevailing trend” seems far more appropriate in 2021 than “weather conditions prevailing over a longer term”

There is far more to climate, and climate change, than weather.

#92 RichardTO on 12.02.21 at 8:17 am

@Garth

> Science will squish it.

Incorrect. Natural immunity will.

EVERYONE will get infected (it will make Delta extinct), suffer some mild, flu-like symptoms, develop natural immunity, and COVID will join the cocktail of the other, seasonal coronaviruses that come every fall.

All of the lockdowns, masking, experimental injections will have done nothing in the end. THE ONLY mechanism for herd immunity was for millions of years, and continues to be – natural infection.

#93 Dogs Get Treated Better on 12.02.21 at 8:24 am

Austria is fining people $7500 who go unvaxxed. Australia is throwing them in camps in the outback and hunting them down if they escape.

Latest is implanted chips with your vax info. Wonder how long it will be before chip implants are made mandatory.

I wonder if I can skip the implant and just get a tattoo with a barcode on my forearm instead. A bit of an upgrade from 1940’s technology.

#94 Re-Cowtown on 12.02.21 at 8:33 am

#91 Do we have all the facts on 12.02.21 at 8:02 am
#64. Repurchase Disagreement

When changes in weather over a period of time begin to appear abnormal experts start evaluating whether the climate of a region, or the globe, may be changing and what might be causing this change.

There is far more to climate, and climate change, than weather.

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

Correct. Last week a study came out that stated that the Arctic started warming long before the dates that the IPCC and Greta Crowd claim was the beginning of the Climate Crisis.

Two possible narratives:

1. The climate is far, far, far more susceptible to even minute changes in CO2 levels than previously thought. This means that their climate models are all wrong, and the crisis is far worse than they ever imagined.

2. The climate is far, far, far less susceptible to changes in CO2 than previously thought. This means that their climate models are all wrong and there’s no problem.

Only one of these narratives generate $$$$$$$. Anyone care to guess which narrative will be chosen?

#95 crowdedelevatorfartz on 12.02.21 at 9:03 am

@#93 Dogs are smarter than anti vaxx’ers

“Latest is implanted chips with your vax info. Wonder how long it will be before chip implants are made mandatory.”

+++

Personally .
There’s nothing the govt want to know about the paranoid idiots let alone “track” them …. the virus will deal with them.
Darwinian Law at its finest.

#96 Repurchase Disagreement on 12.02.21 at 9:26 am

#91 wrote confused, unscientific blather…

Let me help you all….

Climate = Average of Weather. Period. That’s is the scientific definition.

Climate Drivers:. Things that influence Climate. Two types…

Natural Climate Drivers: The Sun, core of Earth’s temperature and distribution of that temperature, Earth’s tilt and orbit wobble, plus other things.

These have been at play since we have had an atmosphere and will continue while there is an atmosphere. We do not fully understand these, and have no way of predicting what future weather will be because of thier impact with any skill or certainty.

Anthropogenic Climate Drivers: CO2, Methane, deforestation, etc. We do NOT understand their impact well (we have computer model GUESSES with a range of subjective assumptions going into the models) and CANNOT untangle thier impact from the impact of Natural Climate Drivers. There is also uncertainty about magnitude of impact (read Steve Noonan’s recant boon for a good overview of how the IPCC acknowledges this FACT).

https://www.forbes.com/sites/tilakdoshi/2021/04/30/lets-work-for-science-with-integrity-steve-koonins-new-book-unsettled/?sh=1bf855352f38

At least get the framework of the discussion correct Blog Dogs…

#97 Phylis on 12.02.21 at 9:32 am

#94 Re-Cowtown on 12.02.21 at 8:33 am
#91 Do we have all the facts on 12.02.21 at 8:02 am
#64. Repurchase Disagreement

When changes in weather over a period of time begin to appear abnormal experts start evaluating whether the climate of a region, or the globe, may be changing and what might be causing this change.

There is far more to climate, and climate change, than weather.

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

Correct. Last week a study came out that stated that the Arctic started warming long before the dates that the IPCC and Greta Crowd claim was the beginning of the Climate Crisis.

Two possible narratives:

1. The climate is far, far, far more susceptible to even minute changes in CO2 levels than previously thought. This means that their climate models are all wrong, and the crisis is far worse than they ever imagined.

2. The climate is far, far, far less susceptible to changes in CO2 than previously thought. This means that their climate models are all wrong and there’s no problem.

Only one of these narratives generate $$$$$$$. Anyone care to guess which narrative will be chosen?
Xxxxxx
The great thing about models is that they can be tinkered with to fit a best curve. Too bad the revision history is never included when it comes time to flash it up on the screens.

#98 crowdedelevatorfartz on 12.02.21 at 9:35 am

@#84 Scandinavian isnt spoken here

https://www.svd.se/utbrott-i-oslo-hogst-sannolikt-omikron/om/coronaviruset

++++
Let me get my universal translator to decipher that incomprehensible article…

https://www.youtube.com/watch?v=sY_Yf4zz-yo

#99 IHCTD9 on 12.02.21 at 10:13 am

#86 millmech on 12.02.21 at 3:38 am
#35 Mattl
How about the guy who turned 2k into 137k in ten days, there is another person there who bought Gamestop cheap and now sells CC and makes $400/wk on premium, not too shabby of a return on a couple of grand.
There is some pretty good DD there, just have to look for it and separate it out do a bit of research.
_____

Yeah a few winners – but thousands of losers. Google up “loss porn” – absolute horror shows of kids on WSB losing everything in a matter of days and weeks. Lot more of these stories than there are of making 137K in ten days.

#100 Dharma Bum on 12.02.21 at 10:29 am

#74 Dr. V (from yesterday)

She doesn’t have a slave job. She most likely enjoys what she does and gets a great deal of satisfaction from it, and also contributes to the greater good.
——————————————————————————————

All jobs are slavery.

As far as her really enjoying her job is concerned:

https://www.youtube.com/watch?v=4EoAHdwGBvU

#101 IHCTD9 on 12.02.21 at 10:51 am

#63 Quintilian on 12.01.21 at 7:46 pm

I think we are being pushed and repulsed by the right.
_____

Yes you are, it’s all part of the plan. The OSC knuckle dragger coalition figured out years ago that hard-left governments tended to do things that just freaking pound the gains into our financial investments and hard assets. In 2014, we directed Right-Wing high command to increase the dissenting rhetoric on climate change, abortion rights etc… by 100%. Man, did we call that one! My house has doubled in value since then!

So far, the lefties haven’t seen what’s actually going on. We even told High Command to discontinue the acute fear generation program 3 years ago. I mean, we got enough already. But, the Lefties appear to be sticking it to themselves now on their own initiative.

No matter, they can take as much time as they need.

I hear YAMAHA might put their new 106 HP 1000cc twin into the Grizzly. I already got a few “Sponsored by Trudeau” decals made up for when I take delivery of the machine.

#102 SoggyShorts on 12.02.21 at 11:02 am

#93 Dogs Get Treated Better on 12.02.21 at 8:24 am
Latest is implanted chips with your vax info. Wonder how long it will be before chip implants are made mandatory.

**************
As someone who has to click the “Forgot my password” link way too often I’m very much looking forward to chips, or retinal scans, or whatever.
You’d be shocked at how much personal information I’ll be willing to give up for minor conveniences.

For vaccine status specifically, I was curious about mine and it took me 2 months to get my full medical vaccine history from Ontario, Alberta, and BC.

BEEP BEEP scan my chip, please.

#103 mousey on 12.02.21 at 11:17 am

#46 – Venezia
Any money left after getting sloshed on $30 Bellinis at Harry’s Bar, will quickly be removed from your money belt at Caffe Florian where it costs about $10 per person just to sit in the premises – the coffee and treats are on top of that. The seating fee is not uncommon in high traffic tourist spots, but personally I couldn’t stomach it. Beautiful place, and touted as the oldest cafe in Italy (maybe even Europe – can’t remember exactly) so I took a picture, got up and left. Found another beautiful cafe with many tasty treats without seating fee.

#104 Phylis on 12.02.21 at 11:22 am

#99 IHCTD9 on 12.02.21 at 10:13 am
#86 millmech on 12.02.21 at 3:38 am
#35 Mattl
How about the guy who turned 2k into 137k in ten days, there is another person there who bought Gamestop cheap and now sells CC and makes $400/wk on premium, not too shabby of a return on a couple of grand.
There is some pretty good DD there, just have to look for it and separate it out do a bit of research.
_____

Yeah a few winners – but thousands of losers. Google up “loss porn” – absolute horror shows of kids on WSB losing everything in a matter of days and weeks. Lot more of these stories than there are of making 137K in ten days.
Xxxxxx
Yep, modern day day trading and Tom Vu. Lessons are out there.

#105 millmech on 12.02.21 at 11:26 am

#99 IHCTD9
The posters who lost everything, well someone else made everything off of them.

#106 TheDood on 12.02.21 at 11:37 am

#44 Moh on 12.01.21 at 6:11 pm
You do know that the media makes a big deal over the variants so people get scared and get vaccinated right!
_____________________

Actually, the media could care less if your vaccinated. They’re in the business of selling advertising to make profit so will twist any piece of news or rumor into something that can be branded ‘breaking news’.

#107 IHCTD9 on 12.02.21 at 11:52 am

#105 millmech on 12.02.21 at 11:26 am
#99 IHCTD9

The posters who lost everything, well someone else made everything off of them.
____

Probably the hedge funds…

#108 Boosters..galore on 12.02.21 at 11:52 am

DELETED (Anti-vax)

#109 Do we have all the facts on 12.02.21 at 11:56 am

#96 Repurchase Disagreement

I think you totally missed my point so let me clarify.

Climate has several definitions in most dictionaries and I was only pointing out that the recent concerns over “climate change” fall into the realm of “a general attitude or feeling that exists” as opposed to “long term weather patterns”

Suggesting that my comments were unscientific blather was a bit harsh but they do appear to have confused at least one contributor to this blog

Various experts are interpreting various changes in various parameters, including weather to create a “climate” of concern over changes in our climate.

In 2021 use of the term “Climate change” has less to do with changes in the weather over time and more to do with the publics perception of what possible changes in our climate might mean to the human race.

Using the terms natural climate drivers and anthropogenic climate drivers suggests that this collection of climate drivers are currently influencing our weather. As a result there is a climate developing around the issue of climate change that is currently being influenced by much more than changes in the weather.

Does that unscientific blather help with your confusion?

#110 earthboundmisfit on 12.02.21 at 12:07 pm

VBAL is a mistake. – Garth

Please be so kind as to elaborate. Seems lots of people don’t think so.

#111 Steven Rowlandson on 12.02.21 at 12:12 pm

Rest assured Garth. The powers that be will make sure that the world as you know it will never be boring.

#112 Wrk.dover on 12.02.21 at 12:12 pm

#90 crowdedelevatorfartz on 12.02.21 at 7:40 am
Buy him a Harley and then say, “Get tu de Choppah!” in your best Arnie voice….
__________________________________

That would send him straight to the nearest Shoppers Drug Mart?

#113 IHCTD9 on 12.02.21 at 12:20 pm

WSB in a nutshell:

https://i.redd.it/9kgxba54f3381.jpg

Why?

#114 Sail Away on 12.02.21 at 12:22 pm

#105 millmech on 12.02.21 at 11:26 am
#99 IHCTD9

The posters who lost everything, well someone else made everything off of them.

——-

“When a person with money meets a person with experience, the one with experience ends up with the money and the one with money leaves with experience.”

-Warren Buffett

#115 Dr V on 12.02.21 at 1:05 pm

100 Dharma

“All jobs are slavery.”

Maybe your jobs were. Worse thing you can do for a living is something you dont enjoy.

What happens to many is they just tire of it, or lose their edge. Not much use for a shaky-handed brain surgeon.
But I know a few multi-millionaires who still get up to “go to work”.

#116 Phylis on 12.02.21 at 1:08 pm

96 Repurchase Disagreement on 12.02.21 at 9:26 am
#91 wrote confused, unscientific blather…

Let me help you all….

Climate = Average of Weather. Period. That’s is the scientific definition.

Climate Drivers:. Things that influence Climate. Two types…

Natural Climate Drivers: The Sun, core of Earth’s temperature and distribution of that temperature, Earth’s tilt and orbit wobble, plus other things…..
……
Xxxxxxxxx
If the magnetic pole reversal doesn’t get us, axis wobble surely will…
https://youtu.be/1VPfZ_XzisU
What a ride!

#117 ImGonnaBeSick on 12.02.21 at 2:13 pm

#110 earthboundmisfit on 12.02.21 at 12:07 pm

Bond portion is too high. If you’re looking for ease, you’d be better off with XEQT (or alt) and building the fixed income portion yourself based on Mr. T’s weightings with CPD (or alt) and ZAG (or alt), and throw some XRE in there for good measure…

#118 My Karma Ran Over Your Dogma on 12.02.21 at 7:50 pm

I saw Ryan Lewenza on BNN today talking about the banks.

I followed what you say about watching BNN and shut it off.

Your Welcome.

…..I did wait until the interview was over….