JMWilson

CFA, CPA, CA, CFP®. 20+ years global wealth management, fiduciary, and finance. President, CFA Society Saskatchewan. Travel, martial arts, cultures.

[JMWilson @Wilson_Wealth]

I tweet on investment concepts/strategies/tactics. Please check out "Wealth Management Commentary" on my website & YouTube. Best of success in your wealth accumulation. https://t.co/YzFlQUGVaQ

[JMWilson @Wilson_Wealth]

I always fall back on @AnnieDuke. Post mortem your successes, as well as your failures (people tend to only fixate on why they failed). It could be luck that led to the success and not your process. Many mistakes arise even when winning.

[JMWilson @Wilson_Wealth]

Albert Einstein: 'A person who never made a mistake never tried anything new.' Good advice from @RayDalio. I would suggest a humbleness and strong desire to learn from your mistakes. Do not lock in on positions. Always seek out new ideas and colleagues to learn from.

[Ray Dalio @RayDalio]

Everyone makes mistakes. The main difference is that successful people learn from them and unsuccessful people don’t. By creating an environment in which it is okay to safely make mistakes so that people can learn from them, you’ll see rapid progress and fewer significant mistakes. This is especially true in organizations where creativity and independent thinking are important, as success will inevitably require the acceptance of failure as a part of the process. As Thomas Edison once said, “I have not failed. I’ve just found ten thousand ways that do not work.”

#principleoftheday

[JMWilson @Wilson_Wealth]

Albert Einstein: 'A person who never made a mistake never tried anything new.' Good advice from @RayDalio. I would suggest a humbleness and strong desire to learn from your mistakes. Do not lock in on positions. Always seek out new ideas and colleagues to learn from.

[Ray Dalio @RayDalio]

If you don't mind being wrong on the way to being right you'll learn a lot--and increase your effectiveness. But if you can't tolerate being wrong, you won't grow, you'll make yourself and everyone around you miserable, and your work environment will be marked by petty backbiting and malevolent barbs rather than by a healthy, honest search for truth.

You must not let your need to be right be more important than your need to find out what's true. Jeff Bezos described it well when he said, "You have to have a willingness to repeatedly fail. If you don't have a willingness to fail, you're going to have to be very careful not to invent."

#principleoftheday

[JMWilson @Wilson_Wealth]

No doubt, true. Question is, should rates lower? Not sure "official" inflation reflects actual for most Cdns. A cynic may see major elections upcoming as more the catalyst than economic reality. Will be an interesting 2024/25 to see if lower rates works for the average person.

[Frances Donald @francesdonald]

Bingo. Don't focus on short-term differences. They are all heading to (around) the same place over the next 18 months.

[JMWilson @Wilson_Wealth]

Finally, advisor compensation should be assessed. Over time, fees greatly erode asset growth. Be sure you understand how your advisor is paid and its potential impact on your compound returns. https://t.co/JH3SHkhx6j

[JMWilson @Wilson_Wealth]

An often overlooked assessment is "fit". Not just experience and expertise in your needs. But are you a good match? I find this extremely important for long run relationships. https://t.co/POxkxEUmq5

[JMWilson @Wilson_Wealth]

An often overlooked assessment is "fit". Not just experience and expertise in your needs. But are you a good match? I find this extremely important for long run relationships. https://t.co/POxkxEUmq5

[JMWilson @Wilson_Wealth]

You also need to assess experience in your areas of needs. Do you want to pay high rates for a partner? Or are you okay with a more junior person? The complexity of your needs will help determine experience level. https://t.co/z3CdxTaYoM

[JMWilson @Wilson_Wealth]

You also need to assess experience in your areas of needs. Do you want to pay high rates for a partner? Or are you okay with a more junior person? The complexity of your needs will help determine experience level. https://t.co/z3CdxTaYoM

[JMWilson @Wilson_Wealth]

Technical credentials in your area of needs. Life insurance versus portfolio management versus fine art collecting. Know the difference between designations. https://t.co/V1fj4NAzj1

[JMWilson @Wilson_Wealth]

Technical credentials in your area of needs. Life insurance versus portfolio management versus fine art collecting. Know the difference between designations. https://t.co/V1fj4NAzj1

[JMWilson @Wilson_Wealth]

Regardless of title, you should do the same due diligence on your advisor as you would when buying a vehicle or home. Check technical designations, yes. But you also need to consider ....

[JMWilson @Wilson_Wealth]

Regardless of title, you should do the same due diligence on your advisor as you would when buying a vehicle or home. Check technical designations, yes. But you also need to consider ....

[JMWilson @Wilson_Wealth]

Pretty much anyone in Canada can call themselves a "financial advisor". There is a move to better define who can claim the title, but a long ways off in reality. As is nicely pointed out in the article. Who Gets to Be a Financial Advisor? | Morningstar https://t.co/YUlXFfAQvj

[JMWilson @Wilson_Wealth]

Pretty much anyone in Canada can call themselves a "financial advisor". There is a move to better define who can claim the title, but a long ways off in reality. As is nicely pointed out in the article. Who Gets to Be a Financial Advisor? | Morningstar https://t.co/YUlXFfAQvj

[JMWilson @Wilson_Wealth]

Not sure things as rosy as discussed. Many global factors in play that BoC has no influence over. Even in our own sphere, housing, carbon taxes, natural resource restrictions, etc., impacting inflation. Add in upcoming NA elections, may be a very slow shift back to 2%.

[Bank of Canada @bankofcanada]

ICYMI: Higher interest rates are helping to slow the economy and cool inflation. While we are seeing progress, inflation is too high. There are some risks that might make it challenging to bring inflation back to our 2% target.

https://t.co/Z73GAvRapS

#economy #cdnecon

[JMWilson @Wilson_Wealth]

The @SKGov believes Critical Minerals will be crucial in "Securing the Future". But, "The Future is Now". If you live in SK, a can't miss evening to learn about that future with an all-star panel from @ForanMining, @ArizonaLithium, @SRCnews, @SaskMiningAssoc, and @murchisonminer.

[CFA Saskatchewan @CFASaskatchewan]

The Future is Now: Critical Minerals

Join us 17 May for dinner and an all-star industry panel with Minister of Energy & Resources, Jim Reiter to discuss critical minerals in SK: opportunities, risks, investment vehicles, taxes @SaskMiningAssoc

Info👉https://t.co/Nmy3Z8BiQV

[JMWilson @Wilson_Wealth]

@camharvey very interesting presentation at the CFA Alpha Summit today. Learned a lot and you helped make a rather complex subject, more easily understood. Look forward to reading your book. Thanks and best regards. cc: @CFASaskatchewan

[JMWilson @Wilson_Wealth]

.@AswathDamodaran thanks for your interesting and informative presentation at the CFA Alpha Summit. Lots of great insights and food for thought. Much appreciated. Best regards, cc: @CFASaskatchewan

[JMWilson @Wilson_Wealth]

Thanks to @francesdonald for an in-depth economic update on these turbulent times. Incredible energy & you made complicated topics, very understandable. Feedback from @CFASaskatchewan Annual Dinner was that you "rocked". @Manulife is very lucky to have you. Best wishes! Jordan

[JMWilson @Wilson_Wealth]

Much thanks to Prof. John List (@Econ_4_Everyone) for keynoting @CFASaskatchewan Annual Dinner. Amazing insights, stories, & advice on scaling ideas/business. While demonstrating a deep passion for behavioral economics. John, thank you for making our event a huge success. Jordan

[JMWilson @Wilson_Wealth]

Honored to have @francesdonald, Chief Economist at Manulife, speak to us on these crazy economic times. And they are indeed insane. Be sure to sign up today at @CFASaskatchewan to hear her thoughts on the world today.

[CFA Saskatchewan @CFASaskatchewan]

Last Chance!

30th Annual CFA Society Saskatchewan (Virtual) Dinner on 31 March! Featuring John List, PhD and Frances Donald. First 50 registrants receive a free copy of #TheVoltageEffect

Details: https://t.co/En9pA974i4

#Economics #ideas #CanadianSocietyEvents

[JMWilson @Wilson_Wealth]

John List (@Econ_4_Everyone) may be the Forrest Gump of Economics. Has intersected w/every major politician, business leader, & major company. "Been there, done that, & (literally) wrote the book (The Voltage Effect)." Which he will discuss March 31 with @CFASaskatchewan.

[CFA Saskatchewan @CFASaskatchewan]

Last Chance!

30th Annual CFA Society Saskatchewan (Virtual) Dinner on 31 March! Featuring John List, PhD and Frances Donald. First 50 registrants receive a free copy of #TheVoltageEffect

Details: https://t.co/En9pA974i4

#Economics #ideas #CanadianSocietyEvents

[JMWilson @Wilson_Wealth]

When reviewing investment performance, compare results to peers. What are the keys to peer performance reviews? https://t.co/Dg52gERGFm https://t.co/9CSlTsj2bm

[JMWilson @Wilson_Wealth]

When evaluating investment portfolios, select relevant benchmarks for comparison. Indices that match your investments work well. https://t.co/Sf7fWwcAtu