November 28, 2008

This is Jeff Wareham, ScotiaMcLeod Wealth Advisor, with some thoughts
for investors outgrowing their mutual funds.

November draws to a close today, and it has been another very
difficult month for investors. However, for the first time in months,
we have had five positive days in a row on the TSX. This may not be a
cause for celebration, but at least the violent, late day sell offs we
have seen seem to have abated.The market remains a very challenging
place for investors, and we will likely see more difficult days during
this downturn, but as year end approaches, there are many good reasons
to review your portfolio, and your strategy.
If you are looking for a second opinion, or a fresh perspective on
preparing for what's next, give me a call.
For a review your portfolio, or a complimentary copy of my CD, visit,
www.beyondfunds.ca or call me, Jeff Wareham, at 519 660 3260.
This program is for information purposes only. Fees, management fees,
and commissions may be associated with mutual fund investing.
Investors should consult their prospectus before investing. Views
expressed are those of the author, not Scotia Capital. ScotiaMcLeod is
a division of Scotia Capital Inc, member CIPF

Time to Look Ahead

This is Jeff Wareham, ScotiaMcLeod Wealth Advisor, with some thoughts
for investors outgrowing their mutual funds.

Thanksgiving is here for our American friends, and perhaps we should
be thankful for a couple of days of relief from all of the US
responses to the economic crisis. Day after day, we see dramatic, and
often confusing, program announcements. Most announcements are aimed
at restoring confidence in the US economy, and stimulating consumer
spending. The size, and number, of these programs tell us that
turning the corner will not be easy, but, at least in theory, they
should work. After the bruising you have likely taken in this recent
bear market, it may be tough to think long term, but there are real
opportunities that will emerge from the massive response that has been
required to this financial crisis. Are you prepared for what's next?

For a review your portfolio, or a complimentary copy of my CD, visit,
www.beyondfunds.ca or call me, Jeff Wareham, at 519 660 3260.
This program is for information purposes only. Fees, management fees,
and commissions may be associated with mutual fund investing.
Investors should consult their prospectus before investing. Views
expressed are those of the author, not Scotia Capital. ScotiaMcLeod is
a division of Scotia Capital Inc, member CIPF

End of the Year Advice

This is Jeff Wareham, ScotiaMcLeod Wealth Advisor, with some thoughts
for investors outgrowing their mutual funds.

Year end is quickly approaching, and now is a great time to be
assessing the impact of this year's dreadful markets on financial and
tax planning. In particular, it may be a great time to talk to your
financial and tax advisors about the opportunity to use capital losses
against capital gains you may have paid in the past few years. Proper
planning may not eliminate the pain of the Bear Market of 2008, but it
may allow you to recoup taxes you have paid in past.
If you have not considered this option, or would like a second
opinion, please give me a call.

For a review your portfolio, or a complimentary copy of my CD, visit,
www.beyondfunds.ca or call me, Jeff Wareham, at 519 660 3260.
This program is for information purposes only. Fees, management fees,
and commissions may be associated with mutual fund investing.
Investors should consult their prospectus before investing. Views
expressed are those of the author, not Scotia Capital. ScotiaMcLeod is
a division of Scotia Capital Inc, member CIPF

Reduce the Risk to Your Retirement Security

This is Jeff Wareham, ScotiaMcLeod Wealth Advisor, with some thoughts for investors outgrowing their mutual funds.

The uncertainty of 2008 hit new heights yesterday as Toronto’s TSX suffered its second worst day ever.
The destructive effect on portfolios is dramatic, and many investors have to revisit their retirement plans. Fortunately, there are new and exciting solutions that will help ensure you do not outlive your money. In fact, a well constructed portfolio will help you dramatically reduce the risk to your retirement security. Tune in to Beyond Funds Market Weekly tomorrow, as I review the unique new ways to ensure you enjoy a secure retirement.

Have you outgrown your mutual funds?

For a review your portfolio, or a complimentary copy of my CD, visit, www.beyondfunds.ca or call me, Jeff Wareham, at 519 660 3260.
This program is for information purposes only. Fees, management fees, and commissions may be associated with mutual fund investing.
Investors should consult their prospectus before investing. Views expressed are those of the author, not Scotia Capital. ScotiaMcLeod is a division of Scotia Capital Inc, member CIPF.

How do I ensure that I don't outlive my money?

This is Jeff Wareham, ScotiaMcLeod Wealth Advisor, with some thoughts for investors outgrowing their mutual funds.

After a challenging year, one of the most common questions I hear is “how do I ensure I don’t outlive my money?”
The fall in your portfolio value is toughest if you are close to retirement. You may have to reconsider your options. There is little question the last few months may have impacted your plans, but with proper planning, we can find the right mix of investment solutions to minimize the risk of running out of money in retirement.

You really should explore your options. Now is the time to ask, have you outgrown your mutual funds?

For a review your portfolio, or a complimentary copy of my CD, visit, www.beyondfunds.ca or call me, Jeff Wareham, at 519 660 3260.
This program is for information purposes only. Fees, management fees, and commissions may be associated with mutual fund investing.
Investors should consult their prospectus before investing. Views expressed are those of the author, not Scotia Capital. ScotiaMcLeod is a division of Scotia Capital Inc, member CIPF

Costs associated with your mutual fund

This is Jeff Wareham, ScotiaMcLeod Wealth Advisor, with some thoughts for investors outgrowing their mutual funds.

Volatility continues to plague equity markets. In challenging markets, it is difficult to look at the details, but I encourage you to look into the costs associated with your mutual funds. Most mutual funds have not stood up well through the current market downturn. Canadians pay the highest management fees in the world, and the impact is pretty dramatic. Approximately one quarter of the long term return of equity funds is lost to management fees. Mutual funds definitely have their place, but I encourage you to consider if you are getting what you pay for.
Now is the perfect time to ask “have you outgrown your mutual funds?”

For a review your portfolio, or a complimentary copy of my CD, visit, www.beyondfunds.ca or call me, Jeff Wareham, at 519 660 3260.
This program is for information purposes only. Fees, management fees, and commissions may be associated with mutual fund investing.
Investors should consult their prospectus before investing. Views expressed are those of the author, not Scotia Capital. ScotiaMcLeod is a division of Scotia Capital Inc, member CIPF

11% swing in American markets

This is Jeff Wareham, ScotiaMcLeod Wealth Advisor, with some thoughts for investors outgrowing their mutual funds.

This market has reached new heights when it comes to volatility and uncertainty. North American markets swung by up to 11 percent during the day yesterday. It is pretty tough to make long term decisions in a market experiencing such short term uncertainty. Believe it or not, there were very encouraging signs in the market’s performance of Wednesday and Thursday. Tune in tomorrow at 8:30, as I discuss another challenging week, and look at planning for the long term in difficult market conditions.

Now is the perfect time to ask “have you outgrown your mutual funds?”

For a review your portfolio, or a complimentary copy of my CD, visit, www.beyondfunds.ca or call me, Jeff Wareham, at 519 660 3260.
This program is for information purposes only. Fees, management fees, and commissions may be associated with mutual fund investing.
Investors should consult their prospectus before investing. Views expressed are those of the author, not Scotia Capital. ScotiaMcLeod is a division of Scotia Capital Inc, member CIPF

Have a long term strategy

This is Jeff Wareham, ScotiaMcLeod Wealth Advisor, with some thoughts for investors outgrowing their mutual funds.

Volatility continues to plague equity markets. The significant intraday swings have more impact on the professional traders than they do on a long term investor, but they sure do contribute to fear and uncertainty. Even if you want to invest, it is tough to step in to a market that fluctuates several percent per day. How do you invest, without getting caught in the violent swings?
The key is to have a long term strategy, and work with an advisor to select the best solutions to meet your goals. Short term swings will happen, but if you believe in what you are buying, it is likely worth being patient.
Now is the perfect time to ask “have you outgrown your mutual funds?”

For a review your portfolio, or a complimentary copy of my CD, visit, www.beyondfunds.ca or call me, Jeff Wareham, at 519 660 3260.
This program is for information purposes only. Fees, management fees, and commissions may be associated with mutual fund investing.
Investors should consult their prospectus before investing. Views expressed are those of the author, not Scotia Capital. ScotiaMcLeod is a division of Scotia Capital Inc, member CIPF

Time for a 2nd opinion?

This is Jeff Wareham, ScotiaMcLeod Wealth Advisor, with some thoughts for investors outgrowing their mutual funds.

As I mentioned on my Saturday show, September and October were quite awful, and many investors may dread opening their most recent statements. Avoiding the issue is a bad idea, especially at this time of year. There are many planning opportunities that arise at year end, especially for mutual fund investors. Now is the time for a second opinion, and a serious look at your long term strategy. Give me a call, and let’s discuss if the investment solutions you are currently using are still appropriate in the current market environment.
Now is the perfect time to ask “have you outgrown your mutual funds?”

For a review your portfolio, or a complimentary copy of my CD, visit, www.beyondfunds.ca or call me, Jeff Wareham, at 519 660 3260.
This program is for information purposes only. Fees, management fees, and commissions may be associated with mutual fund investing.
Investors should consult their prospectus before investing. Views expressed are those of the author, not Scotia Capital. ScotiaMcLeod is a division of Scotia Capital Inc, member CIPF

Market Watch

The big picture

Rate cuts exceed expectations


On Thursday, the Bank of England slashed its benchmark interest rate by an unprecedented 1.5%, bringing it down to 3%. The size of the cut jolted financial markets, which had expected at most a 75 basis point (a “bps”, or basis point, is 1/100th of one percent) reduction. The European Central Bank quickly followed by cutting its rate by half a point to 3.25%. Also on Thursday, interbank lending rates recorded their 19th consecutive daily drop, signalling a continued increase in credit market confidence.


The Canadian dollar finished October down 11.6%, its largest monthly decline ever. At roughly 85 cents, the Loonie now trades near the middle of its range—well below its high of nearly $1.10 a year ago, and well above its record low of $0.62 in Jan 2002.


Although studies have shown that stock markets fare better with Democrats in power, the S&P 500 tumbled 5.3% Wednesday following the election of Barack Obama. Market participants are undoubtedly waiting to see how an Obama administration will address the current economic environment. He will make his Washington debut as president-elect November 10 with a visit to the White House to discuss transition plans with President George W. Bush.


The markets

Yes, it really has been that bad


September and October were simply awful months for the markets. The TSX lost 14.6% in September and 16.9% in October, resulting in a year-to-date loss of 29.4% as of October 31st. Many market commentators have said this is the worst period they’ve ever seen, and they are not exaggerating. Looking at data as far back as 1940, there has never been a comparable loss on the TSX.


While we are truly in unchartered territory, history offers at least one positive hint of the future. With the exception of 2000–2001, every time the TSX has declined more than 10% in a given year, it has posted a positive return in the following year. While this is no guarantee of a positive return in 2009, down markets have almost always shown clear signs of recovery within 12 months of a crisis.

Our recommendation

Look for relative value


Equities.

It’s a stock picker’s market. Stick to your long-term investment strategy, but consider adding selected companies to your portfolio at prices reflecting value.


Fixed income.

The yields on high quality corporate bonds such as Canadian banks and insurance companies have further improved versus government bonds. Consider adding exposure.


Portfolio strategy.

Some regions and sectors have been hit harder than others. Consider reviewing your portfolio allocations to take advantage of lower relative valuations in these areas.
For more information or a copy of our in-depth ScotiaMcLeod Weekly Market Strategy report, please call me, Jeff Wareham, Wealth Advisor

(519) 660-3260 jeff_wareham@scotiamcleod.com

10% decline in dow in last two days

This is Jeff Wareham, ScotiaMcLeod Wealth Advisor, with some thoughts for investors outgrowing their mutual funds.

Any enthusiasm investors felt earlier this week has faded, with a ten percent decline in the Dow in the last two days. Incredibly, that two day fall meets the technical definition of a correction all on its own. The problem is, a ten percent swing can put a serious dent in your retirement plan. In such challenging times, you really need to consider a defensive strategy. The challenge is protecting capital, while finding investments that will grow as the market eventually stabilizes.

Tune in tomorrow, to Beyond Funds Market Weekly, as I discuss strategies to deal with the current market volatility, and ensure your portfolio is able to meet your long term needs.

Now is the perfect time to ask “have you outgrown your mutual funds?”

For a review your portfolio, or a complimentary copy of my CD, visit, www.beyondfunds.ca or call me, Jeff Wareham, at 519 660 3260.
This program is for information purposes only. Fees, management fees, and commissions may be associated with mutual fund investing.
Investors should consult their prospectus before investing. Views expressed are those of the author, not Scotia Capital. ScotiaMcLeod is a division of Scotia Capital Inc, member CIPF

Is the worst over?

This is Jeff Wareham, ScotiaMcLeod Wealth Advisor, with some thoughts for investors outgrowing their mutual funds.

Another major concern that has haunted global markets disappeared last night, as the Americans selected their next president.

Volatility has dropped to a one month low, credit markets are getting a bit better, and global markets surged yesterday. Is the worst over? Perhaps, but Scotia released research yesterday forecasting further volatility, and a possible retest of our recent lows over the next few months. It may be tempting to rush back into the market, but a carefully constructed portfolio is your best bet moving forward. Opportunity abounds in the market, but prudence is the key.

Now is the perfect time to ask “have you outgrown your mutual funds?”


For a review your portfolio, or a complimentary copy of my CD, visit, www.beyondfunds.ca or call me, Jeff Wareham, at 519 660 3260.

This program is for information purposes only. Fees, management fees, and commissions may be associated with mutual fund investing.

Investors should consult their prospectus before investing. Views expressed are those of the author, not Scotia Capital. ScotiaMcLeod is a division of Scotia Capital Inc, member CIPF

A Look back at October

This is Jeff Wareham, ScotiaMcLeod Wealth Advisor, with some thoughts for investors outgrowing their mutual funds.
October 2008 is over, and few investors will miss it. Last month saw record volatility, and significant losses, especially for investors in Canadian equity mutual funds. Many investors need to revisit their portfolios, and decide if the investments they own are consistent with their long term goals. If this describes you, feel free to give me a call, and I will help you review your situation.

Now is the perfect time to ask “have you outgrown your mutual funds?”

For a review your portfolio, or a complimentary copy of my CD, visit, www.beyondfunds.ca or call me, Jeff Wareham, at 519 660 3260.
This program is for information purposes only. Fees, management fees, and commissions may be associated with mutual fund investing.
Investors should consult their prospectus before investing. Views expressed are those of the author, not Scotia Capital. ScotiaMcLeod is a division of Scotia Capital Inc, member CIPF