It’s Friday, May 1. Here are the top stories we’re following today.
Airport Privatization Gains Momentum
The Carney government is circling closer to airport privatization, and potential investors ‘stand ready.’ Airports are among the highest-value federally owned assets that could be considered for sale, as much of the infrastructure owned by governments across Canada resides in either provincial or municipal hands. The Canadian government is moving in the right direction with a renewed look at privatizing the country’s largest airports, which are in the ‘sweet spot’ for institutional investors looking to deploy more of their assets at home, says a senior executive at Canada’s largest pension fund.
Harjit Sajjan’s Defence Startup Juno to Go Public
Vancouver-based defence and dual-use startup Juno Industries Inc. on Friday completed a $12-million financing round in a reverse takeover of publicly traded Trail Blazer Capital Corp. so it can access capital quicker and scale up faster. Former minister of national defence Harjit Sajjan is behind the venture, which aims to strengthen Canada’s defence capabilities. The reverse takeover allows Juno to bypass the traditional initial public offering process and expedite its growth plans.
Central Bankers Like Captains of Supertankers
Central bankers are like captains of supertankers — a lot rides on their ability to see ahead. The iceberg ahead is inflation, and the Bank of Canada and U.S. Federal Reserve seem to be hoping it melts before their economies ram right into it, writes Robert McLister. The Bank of Canada has signaled that any rate hikes would be ‘consecutive,’ indicating a tightening cycle to combat rising prices.
Did Andrew Make a Mistake Preventing His Mom from Buying Annuities?
FP Answers explores how annuities could trump a balanced portfolio of exchange-traded funds in retirement. A basic annuity, with no safeguards built in, has no inflation protection, but for retirees seeking guaranteed income, annuities offer stability. The article questions whether dismissing annuities outright is a misstep, especially in a low-yield environment.
Forecasts Are Generally of No Use for Investment Results
Forecast-based investing is best summed up by author H.L. Mencken’s assertion that ‘we are here and it is now. Further than that, all human knowledge is moonshine.’ There is a saying that if you are being chased by a bear, “You don’t have to run faster than the bear to get away; you just have to run faster than the person next to you.” With respect to forecasting, the ability to outperform doesn’t stem from making accurate predictions, but rather from making predictions that are more accurate than those of others. The article argues that investors should focus on long-term strategies rather than short-term forecasts.
Trending Stories
- Trump signs order for oil pipeline from Canada to U.S. that could use abandoned Keystone XL
- Ontario lays foundation for first new nuclear reactor in decades
- Bank of Canada signals that any rate hikes would be 'consecutive'
- Posthaste: Toronto and Vancouver suffer from the housing headaches of 'global city syndrome'
- What is surveillance pricing and is it coming to a grocery store near you?
Stay tuned for more updates on these developing stories.
