Useful LinkedIn Poll...

Steadyhand Investment Fund's Chris Stephenson recently concluded a poll on LinkedIn. The question:

What is your biggest challenge regarding your finances?

a) Cash Flow - Saving Vs. Spending

b) Managing Debt

c) Choosing the right product/service

d) Finding a trustworthy advisor

"Cash Flow - Saving Vs. Spending" won with 58% of the vote, although I thought it would be much higher. Regardless, I thought I would share my vote and subsequent comment on the page:

Saving Vs. Spending. Figuring out your balance goes as much as to figuring out you and who you are. What is your relationship with money? Everything else regarding personal finance can honestly be figured out. With this, Spending Vs. Saving becomes the age old question of "Who am I?" Are you that generous friend who picks up the check for dinner? Does that become your image and then you feel you always have to? Or are you that cheapskate who can only buy a birthday card on a loved one's birthday? Does saving involve sacrifice? Such a well-educated and hard working society, do we feel we deserve to sacrifice?

Or is out of the easiness of being able to take on so much debt that the blame should rest on the financial institutions or on our governments for allowing it to happen? Yes, one can legitimately make these points and pray they bail us out should we require it because how could they allow this to happen? That being said, if we can figure out ways to save, at the end of they day, we will come out on top.

Honestly, I think not only is it the greatest challenge regarding our finances but the greatest challenge for our age. As our world sees some of the biggest economic issues to erupt in a generation, it all comes down to the fact that the developed world has to save more, be less dependent on credit and spend less. And, yes, hopefully, the middle class will emerge in the emerging markets and pick up the slack...(not through racking up debt!)...

Steadyhand coming to Toronto

When Phillips, Hager & North was bought out by RBC in late February, their diehard supporters and some industry pundits were speculating the death of an era. Forgoing marketing expenses and requiring a higher than usual minimum investment requirement, they practically invented the no-load industry in Canada. When mutual fund fees were deregulated in the early 1980s, PH&N didn't touch their mutual fund fees, while most mutual fund firms raised theirs. Considered mavericks by some, they commanded a fierce loyalty.


In the same month as the RBC/PH&N deal (February), Steadyhand Investment Funds was celebrating its first year anniversary of filing their prospectus. President and CEO, Tom Bradley, spent 14 years at PH&N eventually taking the top job. Steadyhand is his very own project, and I'm eager to see the results. As a new entrant to an incredibly saturated industry, I am keenly following their progress. Their size is small, which makes their possibilities endless. However, it also means the jury is still out on them. Furthermore, they are (I believe, anyway....correct me somebody) the only mutual fund firm with a blog!


There are a slew of differences between PH&N and Steadyhand, which I'll get into in another blog entry. The question, though, isn't in the differences.... but the potential of a key similarity: Can they win a loyal following close to that of PH&N?


Tom Bradley will be hosting a lunch next Tuesday, May 21 at the Intercontinental for his small cap manager, Wil Wutherich. Check back for a review of the event and my thoughts on Steadyhand.


To RSVP:
Email: info@steadyhand.com
Phone: 1-888-888-3147