Peter Guay

MBA, CFA, Portfolio Manager

Peter joined PWL Capital in 2004 to learn the business from the ground up. After 14 years, many designations and an MBA later, Peter is now a Partner, Portfolio Manager and Financial Planner in the Layton-Guay Team.
Peter joined PWL Capital in 2004 to learn the business from the ground up. After 14 years, many designations and an MBA later, Peter is now a Partner, Portfolio Manager and Financial Planner in the Layton-Guay Team.
Advanced Investing

Regulations: Protecting Industry over Investors!

What the Ontario government is trying to do to the investment industry is shameful. We like to think regulations are there to protect us, but the current Ontario government and the Canadian Securities Administrator are doing anything but that. The last few months have been incredibly frustrating to watch as regulatory proposals come out that are clearly not in investor’s best interests.

Behavioural Finance
Montreal, Residential-Area, Plateau-Mont- Royal, Canada

Myth BUSTED: ETFs and Market Efficiency

The Myth: Everyone is piling into ETFs, and that makes stock markets less efficient. The argument: The more people invest through indexes and ETFs, the fewer people there are scrutinizing the fundamentals of stock prices to figure out if individual stocks are cheap or expensive. That must make it easier to pick stocks, right?

Market Research
Blowing Bubbles Street Performance vitaliy paykov on unsplash

Do ETFs Cause Market Bubbles?

One of the biggest myths about passive investing is that ETFs and indexing will cause stock market bubbles. The thinking is simplistic: since index funds have to buy all companies in the stock market, they have to blindly buy stocks whose prices have gone up, right? This makes stock market bubbles worse, right?

Market Research
Solar Panel Solar Farm by zbynek burival on unsplash

How rigorous is ESG research?

In my previous blog post, I talked about Environmental, Social and Governance (ESG) investing, why investors are interested and the different ways to implement it in your portfolio. This naturally raises the next question: how rigorous is the ESG research and does it actually differentiate and reward good from bad behavior?

Starting Out
Peace Sign Finger Up by patrick fore on unsplash

Passive Investing in 2 Numbers

There are some serious misconceptions about active management and index investing which I’d like to walk through with you today. I’m going to hit you with two really staggering numbers about the US stock market, then explain what each of these data points imply for active and passive investors.