The Economic Pulse is back! In this latest edition, Raymond Kerzérho, PWL’s Director of Research, reviews how Michael Sabia is redirecting Quebec’s Caisse de Dépot for 2010. Sabia’s objectives reflect what PWL has been doing for a decade:
1. Avoid negative market surprises by using index funds
2. Avoid unnecessary risk by focusing on long-term investing
3. Avoid complex investments with unseen risks
Ray is not alone in pointing out that investors can learn from Sabia’s decisions. The Economist recently ran an article about Norway’s sovereign fund, which is entering into a similar debate about its investment policy.
PWL learned these principles years ago and our clients are happy today. I encourage you to read both of these articles.
I also invite you to visit other sections of our website where you can find out more about us, our philosophy and what we can do for you. Our Broadcast Centre contains articles written by or featuring PWL Advisors as well previous editions of the monthly Economic Pulse, PWL’s bi-annual Perspective Newsletter, and our weekly radio interview Webcasts.