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Paul T. Introduced our speakers - however, they needed very little introduction - Ragbir and Matt Lance carried on our long tradition of New Years Prognostications. I do think it would be nice to get some skin in the game by adding $10 to see who can judge the US$, Interest Rates and market Ending Value of the TSX on December 31st. Perhaps when Ragbir passes on the torch to Matt we can start that again. Ragbir started off the meeting with where we are today compared to the predictions last year - we certainly had a tight labour market, inflation and geopolitical risk played into the uncertainty and volatility we still experience today. Ragbir discussed the importance of planning - if you have a plan in place you will know how much you need, when you need it and how you will get there - a roadmap. It will also give you an idea of how much risk you can afford or are comfortable with based on what you need and your time horizon. Everyone should have one but only 1/3 of the Cdns do - 67% do not. Both Matt and Ragbir discussed where the TSX was and other factors affecting the market - most significantly Inflation. Inflation has increased so quickly due to the Easy money (QEasing) the governments were "giving out" through covid, the supply and demand issues created by Covid ...all culminating to not just a transitory inflation issue but a longer term issue. We do see that interest rates over the long term are not as high as shorter rates and bonds look much more attractive than they have since the early 1920's. Markets both equity and fixed income have come down significantly - Matt's suggestion "BE Cautious NOT Fearful" .- now may be the time to start or to increase Dollar cost averaging. Matt also discussed the importance of Charitable Giving/Philanthropy - you get a wonderful tax break when you do so and gifting appreciated market securities such as mutual funds or stocks is tax advantageous as the donor does not pay the tax on the appreciation....EVEN more reason to donate to our Foundation :) GREAT presentation by both Ragbir and Matt - Jim M. Thanked them both and everyone walked away with some good knowledge. Rena added her thanks - AND DON'T forget the levy this Sunday 210 Morningside Dr. 1-4pm Meeting adjourned at 1:15pm |
