Foreword: A Winning Strategy for Canadians
Since the firm’s inception in 1996, we at PWL Capital Inc. have striven to do what is right for our clients. This core belief propels us to evolve our investment philosophy and discipline. Part of this process is to seek out thought leaders who could validate our value proposition for clients. More than a decade ago, we contacted Larry Swedroe, principal and director of research at Buckingham Asset Management and the BAM Alliance in the United States. Larry is a leading authority on passive investing, and a regular contributor to CBSnews.com’s Moneywatch. In June 2003 we organized what was to be the first of many client events featuring Larry as a guest speaker. Those events were a great success. The clarity and simplicity of his message resonated with both clients and other invites, and helped us cement our commitments to his winning strategy.
Our investment philosophy is well understood in the institutional investment world, but much less so among individual private clients. The challenge for was and remains how to effectively communicate that trying to efficiently capture market returns and manage risk is in the client’s best interest. This is in contrast to the industry’s mainstream approach of chasing performance and subscribing to the doctrines of the latest investment guru.
The instant access to unlimited information on the Internet has not improved experienced investors’ chances of having a positive investing experience. The need to rise above the noise with out busy lives has never been greater. That is where this book comes in. Based on more than a decade of collaboration and exchanging of ideas, Larry offered us he opportunity to adapt his twelfth book for a Canadian audience. We were honoured to be asked. The spirit of this adaptation has been to provide relevant Canadian context and market data with Canadian model portfolios, which were prepared by Raymond Kerzérho, PWL’s Director of Research.
We sincerely hope you enjoy reading this book. We believe you may feel compelled to reread it in the future, as it offers the experienced investor a core reference in the fundamental concepts required to manage your wealth to meet your long-term objectives.
James Parkyn & Cameron Passmore
PWL Capital Inc.
March, 2016