“Beat The Bank like Larry Bates”….my conversation with Mark Seed of My Own Advisor https://www.myownadvisor.ca/beat-the-bank-like-larry-bates/
“Beat The Bank like Larry Bates”
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Larry’s 2023 Perspective
January 18, 2023Greetings to subscribers, both new and seasoned. As we begin a new year, there is some good news...
I bought your book and just finished reading it. I have been doing some of my own investing for several years and this book provides many new insights as well as encouragement. I’m sure I will be referring to this book regularly as I continue to take charge of my investments. The most important thing I took away was your advice to ignore the noise created by short-term market volatility and to remain focused on long-term growth.
Thanks for your message Rob. I’m very glad to hear the book was helpful. I believe long term thinking is probably the most important key to successful investing!
Hi Larry,
I have brought and read your book (twice so far). It was pleasant and easy to read. I found it extremely useful and inspiring!
I am a novice investor and just began my investment journey last year with some TD mutual funds. Now I am ready to try your Simply Investing Methods and I want to start with Robo Advisors. Currently, I am looking at three Robo Advisors that fit my situation, Questtrade/Wealth, WealthSimple, and Modern Advisor. Questtrade offers the lowest cost amongst the three, but one of the pros listed by online Robo Advisor comparison reviews is that they offer actively managed ETFs. I am confused by this, what is the difference between actively managed ETF and passive ETF? Why is actively managed a bad thing? I am looking to invest about $10,000-20,000, for a long period of time (hopefully at least 25 years if life situation permits).
Thank you Larry!
Thanks for your question Jamie. Most Robos use “passive” or index ETFs based on an allocation to stocks and bonds that is right for you. That asset mix is fixed until something in your circumstances changes. Questrade has the same initial set up using index ETFs but includes an “active” element by making adjusting the stock/bond mix if they feel market conditions warrant. There is nothing necessarily wrong with active management if the fees are reasonable….which of course most mutual fund fees are not! Hope that helps.