The Case for a Universal Fiduciary Standard in Finance

A topic of discussion that often comes up in the investment management industry is whether or not there should be a blanket fiduciary duty imposed on investment advisors that deal with the public. Currently, there are many different categories of registration for investment advisors in Canada, some which impose a fiduciary duty and others which…

Against the Gods: The Remarkable Story of Risk

Viewpoint Investment Partners Managing Partner, Scott Smith, has recently finished the book Against the Gods: The Remarkable Story of Risk by Peter Bernstein. For those interested in the historical underpinnings of probability and the measurement of risk, this book is a captivating read. Traversing from quantifying the probability of certain numbers appearing in a dice…

The Challenges of Modern Investment Management

Victor Haghani from Elm Partners (previously founding partner of Long Term Capital Management) sat down with NYU Stern School of Business professor Aswath Damodaran to discuss a myriad of hotly debated topics that are at the forefront of present-day investment management. Embedded in this view is how he believes that even investment managers that qualify…

The Science Behind Good Forecasting

The art of forecasting is notoriously fickle. It is often underappreciated how much luck or chance is responsible for a specific outcome occurring. To make matters worse, those responsible for making predictions tend to focus on the result, as opposed to the process used to arrive at the decision, when evaluating their skills. It is…

Being Wrong: Adventures in the Margin of Error

One of our team members has recently finished the book Being Wrong: Adventures in the Margin of Error by Kathryn Schulz, which is a fascinating read for those interested in how the brain processes errors and the effect it has on behaviour. It is no surprise that the acknowledgement of errors in logic or deeply-engrained beliefs…

Proof-Read Your Investment Judgments

On the surface, this blog post by Nick Maggiulli appears to focus on the value of proof-reading and double-checking your work. While errors resulting from attention to detail will inevitably call into question the quality of other ideas or research you have produced, the section on the formation of beliefs is immensely important to investment…