Jim Beqaj

Humans are storytellers, but financial advisors often treat them as calculators. If you're attending the #IAFPAnnualSymposium2024 in Ottawa this week, come hang with a bunch of us on 9/28 to discuss how to integrate stories and #storytelling into your planning workflow. #financialplanning #advice #stories #fundedcontentment Shaping Wealth

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Had an absolute blast talking markets with Sadiq S. Adatia from BMO Global Asset Management. Greatly appreciate your time and sharing your opinions on the recent Global Thinking podcast. In this episode the Global Thinking Podcast, Rob sit down with BMO’s Chief Investment Officer, Sadiq Adatia, to talk about their recent market outlook and why they believe a broadening market rally is in the cards for 2024. While high quality and financials in the US are in focus, gold and commodity-oriented equities could see a continuation of strength. #Forstrong #Finance #podcast #EmergingMarkets #FinancialEducation #Investing #Economy Global Thinking Apple: https://lnkd.in/gwPwnP8W Global Thinking Spotify: https://lnkd.in/gZ85ZT35

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In the latest Allocator conversation on Top Traders Unplugged, I had the pleasure of speaking with Amy Flikerski, Head of External Portfolio Management at CPP Investments | Investissements RPC, the C$600bn pension fund, about their approach to hedge fund allocations. 🎙 Some of the topics we covered include: ✅ The evolution of the hedge fund landscape, including the commoditization of certain strategies, the rise of multi-strategy funds, and how the resulting "war for talent" affects allocators. ✅ Why CPP Investments chooses to run some hedge fund strategies internally while allocating capital to external managers, and how they determine which strategies warrant external allocations. ✅ How Amy’s team blends bottom-up and top-down considerations when constructing the portfolio. ✅ The types of managers CPP Investments selects for seed and accelerator capital, and the challenges of identifying talented early-stage managers. ✅ What makes a great manager, what makes a great allocator, and Amy’s advice for early-stage managers engaging with allocators. #assetallocation #managerselection https://lnkd.in/efUEWpnS

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Advisors are increasingly looking towards alternative investments to mitigate home country bias, seeking diversification beyond traditional asset classes. This approach aims to reduce portfolio risk and enhance returns by exploring a broader range of investment opportunities globally. Read more Here: https://lnkd.in/e7aFkwZ3 Branded Hospitality Ventures #innovation #marketing #socialmarketing #venturecapital Jeffrey Silverman Fabrizio Alvear Stephen Miron

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The 2,500 - 4,000 independent sponsors currently active in the US (compared to 9,000+ PE shops) are in the spotlight again. Citrin Cooperman’s 2024 report on their activities is out. What a read. Isponsors are now truly moving the needle in the lower mid-market. They've clawed and gnawed their way there, by earning the respect of sellers and by offering a welcomed alternative to corporates and traditional PEs. For years, owners who run great businesses have been bombarded by corporates and traditional PEs, whose approach has largely been the same (and probably has gotten more cookie-cutter despite the increased competition). If owners haven’t sold to them, it’s partly because they haven’t liked what they’ve heard from them. It also explains why isponsors can win deals against their competitors’ much deeper pockets and reach. The stat sheet of isponsors for the year is remarkable: - 3 in 4 report having returned 3x+ MOIC to their investors, 40% of them over 10+ years, based on 1) proprietary sourcing; 2) a strong relationship with the owners; 3) experience in their sector - 2 in 3 find the discipline to not go above 6x under any circumstances, and still close, which is impressive given the competition for quality assets - 3 in 4 get deals done without partnering with another isponsor, highlighting the strength of their operations Thanks for putting this together Sylvie Gadant, John A. Basile, Jr. and the rest of your team. See you tomorrow at the iGlobal Forum conference in NYC. Anna Ivanova John Koeppel Cameron Vernest Spearhead Corp Dev #independentsponsor #mergersandacquisition #privateequity

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[New Compounders Podcast] My guest on the show this week was Mathieu Martin, CFA, the Portfolio Manager of the Rivemont Microcap Fund. Mathieu is a microcap specialist who focuses on Canadian stocks. I have personally become fascinated with the differences between the US and Canadian markets, and I was excited to talk to Mathieu about: ·      Where his love for microcap stocks began; ·      The level of inefficiency he sees within Canadian microcaps; ·      Why US-based investors don’t venture up to Canada as often as they should; ·      What he learned after having a tough year in 2022; and ·      Just how cheap Canadian microcaps are at the current moment. Please enjoy the full episode here: https://lnkd.in/gPjUq4_Z

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Canada's Venture Capital Scene Poised for Growth with Increased Corporate Investment A groundbreaking Deloitte report, in collaboration with BDC Capital highlights a key opportunity for Canada's economic growth through enhanced corporate venture capital (CVC) investments. The study reveals a stark contrast between Canadian and U.S. corporate investment trends, noting that only 6% of Canadian corporations with annual revenues exceeding $1 billion are actively investing in CVC, compared to 40% of their American counterparts. Currently, the most active Canadian sectors in CVC are financial services and technology, media, and telecommunications (TMT). Despite the low overall participation, the benefits of increasing corporate investment in startups are manifold. According to Talia Abramowitz managing partner of Deloitte Ventures Canada such investments not only provide financial returns and strategic insights but also foster significant economic benefits by enhancing productivity and spurring innovation across the Canadian tech landscape. Moreover, while Canadian firms tend to invest more in international startups, there's a shifting focus towards domestic ventures. This adjustment could further bolster Canada's position in key emerging technologies like AI and robotics, promoting a robust and resilient economy. https://lnkd.in/eaF-C9zX #canada #candianeconomy #economy #emergingtechnologies #investment #venturecapital #startup #startups #ventures

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Are comparisons between today's focus on #AI and the dot-com bubble misguided? Bernstein's latest blog post looks at lessons learned and explores why today's tech boom is different:

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Having always been more inclined toward writing and research, I was terrified when I first started doing public speaking at investor events during the #GFC for Citi. Now that speaking engagements are core part of what we do at Fordham Global Foresight, I view the opportunity to address large, sophisticated global investor audiences like the 1500+ delegates joining the Principles for Responsible Investment as a privilege. I put a great deal of time and preparation into delivering a balance of technical geopolitical insights, thought-provoking observations and comparative perspectives from other regions and fellow business leaders, addressing both the “So, what?” questions and the “Now what?” imperative. It’s not helpful to just be a Cassandra, warning about all that can go wrong in the world… It’s so rewarding to get feedback like the below from Sophie Cousineau, a #Sustainability professional (and #polisci grad from McGill University!) and see first-hand how words and ideas have the power to encourage us and have more of those “Aha!” moments that can push us to go further in our work. We’ve got a lot to do and the only way forward is to exchange ideas and promote #bestpractices Thank you to Principles for Responsible Investment for inviting me to give a keynote address, and to my fabulous fireside chat host Wendy Cromwell at Wellington Management for sharing your formidable insights and bringing the threads together in the discussion #geopolitics #chancefavoursthepreparedmind #ESG #impactinvesting

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Sedondaries have been on my radar for 18-24 months. On paper, it looks attractive… But once you start looking at the data and speaking to managers, especially large ones, you start to notice that in most cases, there is just not enough incremental return to compensate you for the illiquidity or added risk you’re taking on. So we haven’t pulled the trigger on anything, but we continue to have conversations. From what we’ve seen, continuation funds seem to offer the least added compensation for the risk and illiquidity, which is in line with what this article stipulates. There are some exceptions (mid market secondaries, not continuation funds, and led by independent mid market managers). But then you face the added risks of concentration (smaller funds) and more difficult paths to exit. We continue to watch this space but are still not convinced of the proposition. #investing

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Is your executive compensation program ready for an IPO? Discover best practices for private companies and learn why we believe "an effective pay plan can help attract and retain top talent, motivate senior leaders to achieve defined business objectives, align their interests with shareholder outcomes, and improve the company’s overall financial performance."

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Aptus Capital Advisors took a look at recent returns on domestic stocks versus international. Spoiler: International has been winning in recent years. Even accounting for underlying indices and differences in composition, U.S. stocks are more expensive than international. Keep reading to see the correlation between owning international equities and maximizing risk-adjusted returns.

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We are pleased to share that earlier today Olympia Financial Group (OLY.TSX) reported solid results across the board for Q2 2024. Dividend yield of 6.7% has 2x coverage ratio. >Q2 total revenue increased by 5% to $26.3M YoY. >Trust revenue grew by 7% and services revenue grew by 2%. >6-month revenue grew by 7% to $52.1M YoY from $48.7M >6-month earnings increased by 4% to $11.6M YoY from $11.2M >Revenue hit the high-end of expected range, while net earnings was in the middle of the expected range >Regardless of interest rate cuts, OLY continues to perform ahead of analyst expectations Share Price Target is $135.00 Stock closed at $107.00 yesterday For the three months ending June 31, 2024;  Total net earnings and comprehensive income was essentially flat at $5.9 million compared to $6.0 million in the previous year. Total revenue increased 5% to $26.3 million from $25.1 million, mainly due to an increase in trust income in the Investment Account Services division. Service revenue increased 2% to $12.2 million from $11.9 million, mainly due to an increase in monthly and transaction fees. Trust, interest, and other income increased 7% to $14.1 million from $13.2 million, due to higher interest rates on trust fund placements made over the previous 12 months. Basic and diluted earnings per share attributable to shareholders of Olympia decreased 1% to $2.45 per share from $2.48 per share. Olympia Financial Group continues to grow top-line revenue ahead of analyst expectations. Trust revenue remained insensitive to dovish interest rate policy due to the terms of its account holdings. Additionally, the account base continues to grow, which is a natural hedge against future interest rate reductions. At around 10.4x PE ratio, Olympia trades at a 50% discount to its closest peers (CPU.AU & X.TSX) which are in the 22x range. First half performance suggests that interest rate risks are not playing out in OLY performance, and compared to its peers, the stock remains undervalued. Recently, small cap institutional funds have been accumulating shares, and the Q2 earnings report should provide investor confidence that OLY is trending ahead of performance expectations, and that its current $7.20 annual dividend is solid. The TTM ROE for OLY is 30.3%, which is among the highest within its broader peer group of specialized financials. Justin Oliver CPA, CA Anil Singh Shushu Feng Paul Bilenki, CFA, MFin Marc Raffoul Jonathan Robinson Claudio de Gregorio Damir Gunja Steve Skotidas Tony Grossi, FMA, CFP, CIM, FCSI Marko Tesanovic David D Andrew Sharp Mikael Hebert https://lnkd.in/gMKSya6W

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I sometimes wonder if our banking regulatory regime can be explained by an action grasped by the average toddler - squeezing a ballon. Efforts to clamp down on risk are manifested by the squeeze, but, as the toddler can attest, that does not make the balloon smaller for the air will immediately pop up somewhere else.   In the post Apollo-Athene world, are we basically seeing a reconstitution of traditional banking before the Federal Reserve Act and the regulatory regime set in place in response to the financial cataclysm of the Great Depression?    We have been habituated to consider banks as lumbering, tightly regulated, quasi-public institutions, but for millennia, banks were highly entrepreneurial private institutions.    The fundamental requirement of any bank is not access to Fed liquidity but a source of stable capital. With insurance companies as seemingly bottomless fonts of capital, why dance with regulatory devil? In the pre-GFC days, many of those creating these “new old stock” bank equivalents would have been happily dissatisfied plying their trade in the investment banks, but as with the balloon, a hard squeeze and they pop out somewhere else.    Of course, in a pinch, will we have a future JP Morgan to lock the principals in his library to force consensus on action?   Meanwhile, the balloon continues to get squeezed. #banks #alternativeinvestments #fintech Duke Master in Fintech

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[Compounders Podcast Clip} Anyone who follows the podcast and my writings knows that I am obsessed with differentiation. There are so many smart investors out there that it is hard to be truly different. When I asked Thomas Bachrach, the Principal at PFH Capital, about structural advantages, he cited two primary elements. You can find the full discussion here: https://lnkd.in/gcN3G7jk

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How is the shifting correlation between stocks and bonds challenging traditional portfolio strategies? Experts, including MFS Fixed Income Portfolio Manager Ward Brown, addressed how at the Fiduciary Investment Symposium in Toronto. Find out what they had to say about navigating this newfound fixed income landscape.

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