The document summarizes a webinar on active investing versus passive investing. It discusses that active investing involves selecting securities based on factors like management, microeconomics, valuation, and risk/reward, rather than trying to time the market or make predictions. Active management can provide flexibility, risk management, and tax benefits. Fees for active managers are generally around 1% and should be covered by outperforming benchmarks over time. When selecting an active manager, investors should consider their trustworthiness, service, long-term track record, reasonable fees, and independence. The webinar presenters were from Welch LLP and Brookfield Soundvest Capital Management and discussed active investment strategies.

1. welchllp.com

2. GROUND RULES
Questions
• Attendees are in listen-only mode
• This webinar is being recorded for future on-demand playback
• Tweet questions & comments to: #WelchExpert
Windows Mac Tablet

3. Micheal Burch, CPA, CA, CFP
Managing Partner – Welch LLP
mburch@welchllp.com
@WelchLLP
Kevin Charlebois, CFA
President & Chief Investment Officer,
Brookfield Soundvest Capital Management Ltd.
kcharlebois@brookfieldsoundvest.com
www.brookfieldsoundvest.com
Michael G. Adams
Senior Vice President,
Brookfield Soundvest Capital Management Ltd.
madams@brookfieldsoundvest.com
PRESENTERS

4. PASSIVE INVESTING
 Index Funds or ETFs
 Same securities in the same proportions as
an index (TSX, S&P, Dow Jones)
 Index Funds do not aim to beat the market

5. ACTIVE INVESTING – WHAT IT’S NOT
 Predicting the future
 Timing the market
 Undisciplined stock picking

6. WHAT APPROACH DOES AN ACTIVE
INVESTOR TAKE?
 Looks at the stock market as a “market of stocks”
 Considers an investment in a stock as an opportunity to
buy a piece of a successful business
 Builds a portfolio by judicious security selection

7. STOCK SELECTION
 Management
 Microeconomics
 Valuation
 Reward/risk ratio

8. ACTIVE MANAGEMENT – ADVANTAGES
 Flexibility
 Hedging
 Risk management
 Tax management

9. RISK MANAGEMENT
 Asset allocation
 Patience
 Time Horizon
 Sell discipline

10. FEES
 Fees for active investment are generally around 1% (much less
than the current mutual fund)
 Active investment fees should be covered by better than
benchmark performance over most 5 and
10-year rolling periods

11. POINTS TO REMEMBER
 Long-term asset growth depends on
investing in companies most likely to
succeed in the future
 Risk management is paramount

12. SELECTING AN ACTIVE MANAGER
 Trust
 Service
 Long-term track record
 Reasonable & transparent fees
 Independence

13. Micheal Burch, CPA, CA, CFP
Managing Partner – Welch LLP
mburch@welchllp.com
@WelchLLP
Kevin Charlebois, CFA
President & Chief Investment Officer,
Brookfield Soundvest Capital Management Ltd.
kcharlebois@brookfieldsoundvest.com
www.brookfieldsoundvest.com
Michael G. Adams
Senior Vice President,
Brookfield Soundvest Capital Management Ltd.
madams@brookfieldsoundvest.com
www.brookfieldsoundvest.com
Q & A

14. The Intelligent Investing Series - Part 3:
Evidence-based Investing VS. Active Investing: The Debate
Tuesday, Feb. 23rd, 2PM
Featured guest speaker:
William Chin, MBA, Portfolio Manager - Caldwell Investment Management Ltd.
Look for the registration link at www.welchllp.com
or in our follow-up email!
THE SERIES CONTINUES…