Friday, September 3, 2010

Short Takes: Financial Advisors as Babysitters, Bad Times for Balanced Funds, and more

Canadian Capitalist reports on a German study whose conclusions cause the researchers to liken financial advisors to babysitters. Ouch!

Rob Carrick says that there has never been a worse time to own balanced funds. I guess that astronomical fees and low returns are a bad combination.

Big Cajun Man will eat half-price food, but won’t use half-price condoms. You have to draw a line somewhere.

Ellen Roseman reports that Canadians have the world’s longest mobile phone contracts. These contracts where you agree to high monthly fees for a couple of years in return for a “free” phone remind me of the story of my parents buying their first house. The price was $10,500, but if they had paid $15,000, they would have got a free car with the house.

Ed Rempel wrote guest piece at Million Dollar Journey on why the long term growth of the economy is not relevant to investing. I agree with his ultimate conclusion that investors are better off ignoring predictions about the economy while making investment decisions. However, we get there by different paths.

Financial Highway lists 7 fees that credit card companies are getting sneaky with now that they have to live within some new government-imposed restrictions.

Ever wondered how mortgage rates are determined? Larry MacDonald interviews an expert to find out.

Money Smarts answers questions about who in the family can access an RESP against the wishes of the person who set it up.

Gail Vaz-Oxlade takes another run at credit scores characterizing them as a “racket designed by lenders for self-serving reasons”.

Where Does All My Money Go reports on a new tool for checking the background of financial advisors.

Larry Swedroe takes a look at an article in The Atlantic magazine about the “great stock myth” and cuts it to shreds.

Bill Mann reports on why Canadians should sell their cottages.

7 comments:

  1. Thanks for the link!

    I laughed at your comment about Canajun Finances article. :)

    Mike

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  2. Thanks for the mention, the line has been drawn.

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  3. Thanks for the link! Enjoy your last long weekend of the summer!

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  4. Thanks for the mention Michael! I missed Swedroe's article. I'll have to check it out.

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  5. Thanks for the link - enjoy the long weekend!

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  6. Hey Michael, thanks for the link. I appreciated the healthy debate you brought up about correlation on MDJ.

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  7. @FT: If the subject involves math you can count on me to have an opinion.

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