when active investing is the best strategy

welchllp.com

GROUND RULESQuestions

• Attendees are in listen-only mode• This webinar is being recorded for future on-demand playback

• Tweet questions & comments to: #WelchExpert

Windows Mac Tablet

Micheal Burch, CPA, CA, CFPManaging Partner – Welch LLPmburch@welchllp.com@WelchLLP

Kevin Charlebois, CFAPresident & Chief Investment Officer, Brookfield Soundvest Capital Management Ltd. kcharlebois@brookfieldsoundvest.comwww.brookfieldsoundvest.com

Michael G. Adams Senior Vice President, Brookfield Soundvest Capital Management Ltd.madams@brookfieldsoundvest.com

PRESENTERS

PASSIVE INVESTING

Index Funds or ETFs

Same securities in the same proportions as

an index (TSX, S&P, Dow Jones)

Index Funds do not aim to beat the market

ACTIVE INVESTING – WHAT IT’S NOT

Predicting the future

Timing the market

Undisciplined stock picking

WHAT APPROACH DOES AN ACTIVE INVESTOR TAKE?

Looks at the stock market as a “market of stocks”

Considers an investment in a stock as an opportunity to

buy a piece of a successful business

Builds a portfolio by judicious security selection

STOCK SELECTION

Management

Microeconomics

Valuation

Reward/risk ratio

ACTIVE MANAGEMENT – ADVANTAGES

Flexibility

Hedging

Risk management

Tax management

RISK MANAGEMENT

Asset allocation

Patience

Time Horizon

Sell discipline

FEES

Fees for active investment are generally around 1% (much less

than the current mutual fund)

Active investment fees should be covered by better than

benchmark performance over most 5 and

10-year rolling periods

POINTS TO REMEMBER

Long-term asset growth depends on

investing in companies most likely to

succeed in the future

Risk management is paramount

SELECTING AN ACTIVE MANAGER

Trust

Service

Long-term track record

Reasonable & transparent fees

Independence

Micheal Burch, CPA, CA, CFPManaging Partner – Welch LLPmburch@welchllp.com@WelchLLP

Kevin Charlebois, CFAPresident & Chief Investment Officer, Brookfield Soundvest Capital Management Ltd. kcharlebois@brookfieldsoundvest.comwww.brookfieldsoundvest.com

Michael G. Adams Senior Vice President, Brookfield Soundvest Capital Management Ltd.madams@brookfieldsoundvest.comwww.brookfieldsoundvest.com

Q & A

The Intelligent Investing Series - Part 3:

Evidence-based Investing VS. Active Investing: The Debate

Tuesday, Feb. 23rd, 2PM

Featured guest speaker:

William Chin, MBA, Portfolio Manager - Caldwell Investment Management Ltd.

Look for the registration link at www.welchllp.com

or in our follow-up email!

THE SERIES CONTINUES…