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When it comes to managing our investment portfolios, there are definitely some mistakes that are easy to make, and ones that a lot of Canadian investors tend to do.
In this episode, we have Peter McMurtry on the show who is going to take us through what the common mistakes are that Canadian investors tend to do, as well as the best practices that he’s noticed from his 30+ years in the investing industry.
One of the things Peter does is portfolio reviews for his clients, so I wanted to pick his brain on the common mistakes that he sees investors make when he reviews their portfolios so that you and I can be sure to avoid those mistakes in our own portfolio.
On the flip side, he’s also worked with clients that are successful investors, and after doing this for 30+ years, one begins to notice certain patterns about what the successful investors do, that the unsuccessful don’t. We go into these best practices that he’s noticed over the years from these successful investors, so that we can apply these lessons ourselves.
Wishing you all the best,
Kornel
A Big Thanks to Our Sponsors:
“Views from the Desk” Podcast
On this podcast, we often cover best practices that can not only help you now, but will also be relevant throughout your investment lifetime. But what if you also want an update on what is happening with your investments, the markets, and the economy right now?
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Resources Mentioned:
Peter’s Book: Own Your Financial Future
About Our Expert Guest:
Cheers. My name is Peter McMurtry. For the last thirty years I have worked in the financial / investment industry helping clients manage their investments.
Recently I wrote a book called Own Your Financial Future- Take Charge of Your Investments, that is available on Amazon.ca.
I also write a monthly investment newsletter where I provide two model investment portfolios consisting of Canadian and US stocks and some fixed income ETFs. My newsletter is called McMurtry Investment Report.
I also offer investors a consolidated portfolio review and hourly consultations to review both their investments and their goals.
My objective is to show investors how to actively manage their investments without the use of an adviser. I offer investors an opportunity to control their own financial destiny.
My academic qualifications include a Bachelor of Commerce from McGill University and the Chartered Financial Analyst Designation, CFA.
My goal is to help investors:
-Improve their investment returns and the consistency of those returns.
-Lower the volatility of those investment returns.
-Lower the fees investor’s pay so that those savings are put back into their pockets, not their adviser’s.
-Ensure that their portfolios are tailored specifically to their overall objectives, namely Income, Long Term Capital Growth, Tax Efficiency or a combination of the above.
I provide investors with the fundamental tools to analyze companies, equity sectors and economies. This gives them a distinct advantage over investors who only purchase stocks based on takeover rumours or a hot tip from a neighbour.
Questions Covered:
- I noticed that one of the things you do is portfolio reviews, where you examine a person’s investment portfolio and advise them on the improvements that they can make to it. When you review portfolios like this, what are some of the top mistakes that you see people make?
- From doing these portfolio reviews and from working in the industry for over 30 years, have you noticed certain patterns in terms of best practices from those that tend to manage their investment portfolios well?
- What are your thoughts on how someone should shift their portfolio once they reach financial independence and would like to retire? In other words, moving from the asset accumulation phase, to the asset decumulation phase where they are now looking to live off their portfolio?
- I noticed that you have a monthly investment newsletter where you make investment recommendations. What type of investing is this and what type of investor is this for?
- What are your thoughts on using preferred shares and options in our portfolios? What are the pros and cons and who are they best suited for?
- Where can we learn more from you and please tell everyone where they can get your book?
Disclaimer:
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