I just want to remind everyone about the seminar on Thursday October 15 in downtown Toronto at 6pm. This one is free, although I haven’t decided yet – decisions, decisions! – whether or not to charge for the video of the event.
In my paper Preferred Shares and GICs I introduced the concept that any fixed-income investment portfolio is a compromise between:
- Security of Principal, and
- Security of Income
Many investors emphasize the first attribute while ignoring the second to their ultimate discomfort.
Other commonly made errors are:
- Paying too much for liquidity
- Insufficient diversification
- Overemphasis on current income
- Insufficient attention to issuer options
- Attempting to address all risks with one particular investment
- Underemphasis on tax effects
In this seminar, I explain that "risk" cannot be thought of as a position on a number line: there are many different kinds of risk and portfolios must be constructed to account for all of them – no single investment can do it. I also explain how preferred shares can fit into a fixed income portfolio, bringing their own strengths to offset the weaknesses of other fixed-income investments.
There is no charge for attendance at this seminar; there will be opportunity after the session to discuss the material informally.
Location: Days Hotel & Conference Center, (at Carlton & College, downtown Toronto) Rosedale Room (see map).
Time: October 15, 2009, 6pm-9pm.
The seminar will be filmed for later distribution.
Advance registration may be performed on-line.