Morning
I start this week’s top ten with some words of wisdom from an industry friend, Tom Bradley. Tom is retired now and I’m glad he still writes on subjects that helps investors and advisors.
There has been many articles showing that our country’s productivity continues to decline and a couple people from the Fraser Institute summarize this reality.
The people at Doomberg explain the misinformation about nuclear energy and it seems Ontario has gotten the memo. BTW, Cameco hit a 52-week high today.
The brilliant Dr. Anas Alhajji was on Marco Voices once again.
He says the narrative is changing big time, and he thinks the upcoming COP meeting will be significant. The ‘European Narrative’ has moved to a ‘China/India/Africa Narrative’ where leaders there want their people to have access to reliable and affordable energy. He thought a recent CNBC interview with the TotalEnergies CEO was significant as he warned viewers that if we do not do this transition properly, people will die.
He thinks natural gas will have more demand than forecasted and it will be the go-to energy source.
(BTW…I am hearing a significant change in attitude with respect to LNG at both the provincial and federal level. Hence a reason why I have been adding many nat gas names in Canada this past month. My bet is government officials are trying to figure out the messaging on this area that they have been so openly against)
Things are sure changing in the Silicon Valley and San Francisco and I thought the podcast from Americano was worthy to share. Victoria has a big tech community, and it is also getting too expensive for many workers to live.
Also changing, are things in China and Peter Zeihan explains that their youth unemployment is now worse than Italy.
I was on the Rumble Room podcast again and they asked me to comment on the Pandora Avenue problem after the markets and economic chat. I reached out to our Police Chief on some thoughts, and he said that we need ‘a voice for the homeless people’. It seems London UK got that right and Doug Saunders wrote about it in the Globe & Mail. (below)
My mom and dad are from farms south of Edmonton. Farmers were also my first main clients when I started the business 40 years ago in Regina. Now the farmers are revolting in Europe and UnHerd’s interview is a much watch.
There is a lot of debate about zoning changes coming to Vancouver. I added a story on one person’s feeling about this change when they pushed this in Victoria a couple years ago. I would love to get any comments you have on the topic.
It was another big weekend in Seattle as the Blue Jays were in town and Bruce Dowbiggin reminds readers who really killed the Expos.
Brian Harman was stellar at Royal Liverpool and during the last round, I saw a tweet on how one of my favourite comedians knew that he would win a major one day.
Have a great weekend!
David
Number 1 - Advisers are trained to look for inefficiencies, but miss the most important one of all: investor behaviour
In conclusion, let me say that we can’t know what the market is going to do, but we can make sure our processes and client interactions reinforce sound investor behaviour. It puts our clients, our businesses and our profession on a better footing. That means not portraying ourselves as knowing more than we do. Not promoting market timing, sector rotation and frequent trading. Providing clear, consistent, jargon-free reporting that tells clients what they need to know.
Number 2 - Canada’s economy is stagnating – we must acknowledge this new, unpleasant reality
https://www.theglobeandmail.com/business/commentary/article-canada-economy-trudeau-freeland/
Jake Fuss and Tegan Hill are economists at the Fraser Institute. Despite any claims by Minister Freeland and the Trudeau government, Canada faces serious and long-term economic challenges. The government’s policies have sought to grow the country’s economy almost exclusively by boosting the population and increasing the role of government, but this plan has failed to deliver prosperity for Canadians. To boost productivity, business investment and economic growth before Canada drifts too far off road, Ottawa needs a serious course correction.
Number 3 – Doomberg - Frame of Reference
https://doomberg.substack.com/p/frame-of-reference
Compared to the allegedly certain and catastrophic risks of climate change, nuclear power represents virtually no hazard whatsoever. It’s high time we demand a stop to this pretension.
https://schneiderwealth.ca/wp-content/uploads/2023/07/Doomberg-Nuclear-Energy.pdf
Number 4 - MacroVoices #385 Dr. Anas Alhajji: 2024 Energy Markets Outlook & More
https://www.macrovoices.com/1220-macrovoices-385-dr-anas-alhajji-2024-energy-markets-outlook-more
Erik Townsend and Patrick Ceresna welcome Dr. Anas Alhajji to MacroVoices. Erik and Anas discuss:
- Why China reopening didn’t recreate much anticipated demands
- ESG trend impact in long-term
- Unexpected increase in demand that no one expects
- Impacts of OPEC running out of spare production
- Increase in energy prices – 1970’s-like energy crisis on horizon?
- Drawdowns and refilling of U.S. SPR
- Dark Shipping – its impact on the market and the quality of data
Download the podcast transcript: [Click Here]
Number 5 - Is it the end of Silicon Valley? Americano
https://podcasts.apple.com/ca/podcast/is-it-the-end-of-silicon-valley/id1157627091?i=1000617844595
Freddy Gray speaks to Joel Kotkin who is the author of The Coming of Neo-Feudalism: A Warning to the Global Middle Class. On the podcast, they discuss the collapse of Silicon Valley. With mass layoffs in the tech sector and a post-pandemic real estate downturn, Kotkin argues the Valley is entering a period of long-term decline – but can it come back from this?
Number 6 - Peter Zeihan - China's Labor Problem: Youth Unemployment
https://www.youtube.com/watch?v=lhVU6Gi9OX4&feature=youtu.be
‘Today’s new factoid is that youth unemployment in China is higher than in Italy (in percentage terms). And if China’s unemployment resembles Italy’s, it is a very, very bad sign.’
Number 7 - Vancouver about to eliminate its single residential zoning rules
Racism and Single-Family Zoning in BC | Viewpoint Vancouver (from 2021 and the writer picks on a past mayor who is now an advisor on housing to our Premier)
https://viewpointvancouver.ca/2021/12/09/racism-and-single-family-zoning-in-bc/
Number 8 - I watched a major city’s homeless problem vanish. We could do the same.
This effort was expensive, and it was eventually augmented with a more punitive system, then abandoned in 2010. But for a decade, it worked: One of the world’s worst rough-sleeping crises was all but solved. The benefits to London, to Britain, and to the thousands of people taken off the streets were immeasurable.
And it provided a lesson to the world: People sleeping outdoors are not an unavoidable part of urban life. Their problems have solutions, if we have the will.
Number 9 - Vandana Shiva: Why farmers are revolting - UnHerd
https://www.youtube.com/watch?v=_bC0_-4LN5M
Iconic eco-activist Vandana Shiva and author of A Small Farm Future Chris Smaje join UnHerd’s Florence Read to discuss the fightback against crony corporatism and the agricultural industrial complex.
Listen to the podcast: https://plnk.to/unherd?to=page
We hope you found the Top Ten interesting this week, and are looking forward to another selection of articles, stories, and commentary next week. If you know of anyone else who would be interested in receiving our weekly note, please let me know.
Schneider Wealth Management is a trade name of Aligned Capital Partners Inc. (ACPI)* – ACPI is regulated by the Investment Industry Regulatory Organization of Canada (www.iiroc.ca) and a Member of the Canadian Investor Protection Fund (www.cipf.ca). David Schneider is registered to advise in securities and/or mutual funds to clients residing in British Columbia, Alberta, Manitoba and Ontario. This publication is for informational purposes only and shall not be construed to constitute any form of investment advice. The views expressed are those of the author(s) and may not necessarily be those of ACPI. Opinions expressed are as of the date of this publication and are subject to change without notice and information has been compiled from sources believed to be reliable. This publication has been prepared for general circulation and without regard to the individual financial circumstances and objectives of persons who receive it. You should not act or rely on the information without seeking the advice of the appropriate professional.
Investment products are provided by ACPI and include, but are not limited to, mutual funds, stocks, and bonds. Non-securities related business includes, without limitation, fee-based financial planning services; estate and tax planning; tax return preparation services; advising in or selling any type of insurance product; any type of mortgage service. Accordingly, ACPI is not providing and does not supervise any of the above noted activities and you should not rely on ACPI for any review of any non-securities services provided by Schneider Wealth Management. Any investment products and services referred to herein are only available to investors in certain jurisdictions where they may be legally offered and to certain investors who are qualified according to the laws of the applicable jurisdiction. The information contained does not constitute an offer or solicitation to buy or sell any product or service. Past performance is not indicative of future performance, future returns are not guaranteed, and a loss of principal may occur. Content may not be reproduced or copied by any means without the prior consent of the author and ACPI.
