Behavioural Finance

The Rational Reminder Podcast: Bear Markets: Always Different, Always the Same

In our second special release episode during the 2020 COVID-19 bear market we discussed a broad history of US bear markets from 1900 to 2020, the recent volatility in the bond market, bond ETF NAV spreads, a nuance in the legislation on tax-loss harvesting, and some of the tax-related changes that Canada has rolled out in light of the current situation.

Behavioural Finance

Market Crashes (Is This Time Different?)

Stock prices reflect investors’ expectations about future profits and risk. When those expectations change, as they do frequently, prices change, and they can change dramatically. Volatile stock prices do not mean that the market is broken or that the world is ending; sharp price declines are expected from time to time in an efficient stock market, and their inevitability should be built into every investment plan.

Featured Contributors

  • Raymond Kerzérho

    CFA, Director of Research
  • Peter Guay

    MBA, CFA, Portfolio Manager
  • Graham Westmacott

    CFA, Portfolio Manager
  • Nancy Graham

    CPA, CA, CFP®, CIM, TEP, Portfolio Manager
  • Cameron Passmore

    CIM®, FMA, FCSI, Portfolio Manager
  • Benjamin Felix

    MBA, CFA, CFP, CIM®, Portfolio Manager
  • Justin Bender

    CFA, CFP, B.Comm., Portfolio Manager
  • Susan Daley

    CFA, CFP, Portfolio Manager
  • Brady Plunkett

    CIM®, Associate Portfolio Manager
  • James Parkyn

    Adm. A. CIM, FCSI, F.Pl, Portfolio Manager
  • Dan Bortolotti

    CFP, CIM®, Portfolio Manager
  • Anthony Layton

    MBA, CIM®, Chairman of the Board, Portfolio Manager
  • Kristine van der Pas-Norenius

    Certified Retirement Transition Coach and happy PWL client
  • Peter Forsyth

    Emeritus Professor
  • Jennifer Vachon

    PWL Former Chief Compliance Officer
  • Dan Solin

    The New York Times' best-selling author of the Smartest series of books
  • Mark Sutcliffe

    Writer, Broadcaster, PWL client and advocate
  • François Doyon La Rochelle

    B.B.A., CFA, Portfolio Manager
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