Ron Weiner remembers sitting his two girls down to discuss the amount of money they stood to inherit. One was in college and the other in high school at the time, and they wanted nothing to do with the conversation.
They say imitation is the sincerest form of flattery. And perhaps the most profitable, too. By learning what great investors such as Warren Buffett, Prem Watsa and others are doing with their money, you can get a good idea of what you should be doing with yours.
Canada’s richest people are a small but growing group that’s on track to control almost 70 per cent of personal wealth in the country. With at least $1-million each to plunk into a portfolio, these individuals tend to take a different approach to investing than the other 95 per cent of the Canadian population.
As much as we may wish otherwise, there is no data point, no computer algorithm, no secret knowledge that can tell us what’s to come in the market or in the economy at large. The best we can do is to pay attention to what the “smart money” is doing.
What do the major Wall Street players see coming down the pike in the New Year? Here are stock market outlooks for 2017 from seven strategists at some of the biggest investment firms, overseeing billions in client assets.