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Big fees with lousy returns likely happening in many portfolios continued from p.33 people, generally richer people, hire consultants. And no consultant in the world is going to tell you, "Just buy an S&P index fund and sit for the next 50 years. You don't get to be a consultant that way, and you certainly don't get an annual fee that way." The underlying message is investment consultants advising actively-managed funds charge high fees and deliver signi cantly lower returns than market returns. Backwards system This is absolutely backwards, makes no sense, and it happens all the time. Because it happens all the time, it is most likely happening in your own portfolio. Big fees with lousy returns. And for some reason individuals become patient with constant underperforming. Strange, but true. It is happening to you, your family, friends and neighbours. It is pretty much universal. Buffett referred to one of the books he recommends, Where Are the Customers' Yachts? by Fred Schwed. 37 | Thursday, May 19, 2016 | OAKVILLE BEAVER | www.insideHALTON.com My recommendation is to pursue a strategy of evidence-based investing over high-cost actively managed funds. Use what is known about investing to your own advantage. Peter Watson There is overwhelming evidence based on decades of facts and gures and academic research that support the strategy of investing in lowcost, diversi ed funds. We strongly believe evidence-based investing will enhance your investment returns. -- Submitted by Peter Watson of Peter Watson Investments and Aligned Capital Partners Inc., MBA, CFP , R.F .P ., CIM, FCSI., Certi ed Financial Planner Guest contributor NOTICE OF ROAD CLOSURE A visitor to the New York harbour admired all the nice boats and was told they were owned by Wall Street bankers. The visitor then asked where the bankers' clients kept their boats. The answer: they could not afford them. My recommendation is to pursue a strategy of evidence-based investing over high-cost actively-managed funds. Use what is known about investing to your own advantage. Trafalgar Road from Lawson Street to Dunn Street as part of the watermain rehabilitation and the trunk wastewater main replacement on Trafalgar Road and Dunn Street Town of Oakville CORN WALL RD CORNWALL RD REYNOLDS ST TRAFALGAR RD Follow Oakville Beaver staff on Twitter: @OakvilleBeaver, @NewsHooked, @DavidLea6, @JuliaLeReporter, @HerbGarbutt, @PostBeaverSport and @Halton_Photog MILE CREEK MAPLE AVE SPRUCE ST MACDONALD RD DETOUR ROUTE AL L AN S T S AVE TR A FA L G PALMER AVE REYNOLDS ST The pellet formulation of the larvicide VectoBac 200G (Bti), Pest Control Products Act No.18158, will be placed into storm-water detention ponds and the briquette formulation of the larvicide Altosid (Methoprene) Pest Control Products Act No. 27694, will be placed into catch basins on Highway 407 ETR throughout the municipalities of Halton, Peel, York and Durham, only where it is determined prudent to do so. For further information, Contact: 407 ETR Concession Company Limited Office: 905-264-5380 ­ please call collect Fax: 905-264-2662 SUMNER AVE AVE W A TS O N RANDALL ST DUNN ST LAKESHORE RD EAST Closure start date: Closure end date: Project number: Project Manager: May 16, 2016 September 30, 2016 PR-2798 Mark Bajor 905-825-6000 ext. 7617 Mark.Bajor@halton.ca 190516 Access for local residents will be maintained at all times. 407 ETR Concession Company Limited DOUGL A 407 ETR Concession Company Limited will conduct larval mosquito monitoring from May 23 to September 30, 2016 and as may be required, a larviciding program from May 30 to October 7, 2016. 407 ETR is undertaking these measures to meet any requirements of local Medical Officers of Health in the control larval mosquitoes to prevent their development into potential carriers of the West Nile Virus. Applicators, licensed by the Ministry of Environment, or trained technicians will apply the larvicide in storm-water detention ponds and catch basins on Highway 407 ETR throughout the municipalities of Halton, Peel, York and Durham only where it is determined prudent to do so. LAWSON ST ROAD CLOSURE SHEDDON AVE SIXTEEN AR RD S AVE DOUGL A W A TS O N AVE NOTICE LARVAL MOSQUITO MONITORING AND PESTICIDE USE AL L AN S T