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Professional managers are not successful at beating the market continued from p.32 is done only because they are not "smart" enough to do anything more. Which investor is likely to be more successful? Hint -- it is a trick question. Again, which investor is most successful? Despite the illusions of grandeur the "intelligent" investor is less successful. If you find that hard to believe, welcome to the club -- me too. How could this be possible? To understand how a more knowledgeable investor could have poor investing results we have to consider the evidence. Academic research conducted over the last half a century shows that professional managers are not successful at beating the market in which they invest. Further evidence from companies, such as Standard and Poor's, which reports professional manager investment results compared to the underlying markets in which they invest, shows the same thing. Professional managers are not successful at beating the market. Yes, the results from academic research and analyzing investment manager performance seems contrary to what you might expect. In this case, I would ask you not to shoot the messenger. These are not my opinions, these are facts. This is what the evidence of investing reveals. Take that one step further and every study I have seen in my years in the investment business has shown that individual investors have investment returns significantly below what returns have been provided by the markets they invest in. Smart investors and professional managers concentrate on identifying undervalued stocks and deciding on the timing to purchase those stocks. This whole concept is flawed. A 1980s survey of 100 pension funds in the U.S. said stock selection and market timing accounted for less than seven per cent of investment performance of large investment portfolios. Stock selection and market timing is not what makes for successful investing. Our recommendation is simple. Invest in a well-diversified portfolio and hold those investments for a long period of time. Your goal is to capture market returns. If you are successful at capturing market returns, it is our belief your investment returns will be in the top 10 per cent when compared to all other investors. -- Submitted by Peter Watson, MBA, CFP , R.F .P ., CIM, FCSI., Certified Financial Planner 33 | Thursday, June 25, 2015 | OAKVILLE BEAVER | www.insideHALTON.com Alert: Your ash lour o c f o h las Add a sp er. m m u s r to you Spend this summer where you belong, vacationing on the sandy shores of Lake Erie. At Sherkston Shores, we offer a variety of rental options. Bring the family and indulge in a cottage rental that's steps from it all - pool lounging, volleyball playing, S'mores making - all that and then some, is always on the agenda at Sherkston Shores. Plunge down the Mach 3 waterslides, challenge your friends to a fun game of mini-golf or beach volleyball. Partake in rock climbing, or work on your tan on the 2 1/2 miles of beach. With Live Band Entertainment every weekend, Boston Pizza, a , or roasting marshmallows by the ; your fun trees are at risk from the Emerald Ash Borer ® TruGreen, Canada's leading lawn and tree care company, has been contracted to treat ash trees on public lands in the Town of Oakville from June through August. Ash trees in the Oakville area are at risk from Emerald Ash Borer, an invasive pest that destroys ash trees if left untreated. Avoid the costs of removal and replacement by treating your ash trees today with help from TruGreen. Special pricing available for Oakville residents. Call or visit TruGreen online for details. 1-866-294-7962 TruGreen.ca tals st ren a in rt 30 % g at $6 3 9 Learn more about protecting your ash trees. Join the Oakville Canopy Club. For more information visit oakville.ca · Book by J FirstOntario Investment Shares. A smart addition to your portfolio. Annual Dividend Rate Investment shares are only available by offering statement. This is not an offering statement. Please contact the Credit Union as indicated to receive and review an offering statement. Call us at 1-800-616-8878 or visit FirstOntario.com 2 y 1, 015 ul · 1-877-482-3224 CarefreeRVresorts.com/SherkstonShores 3o r4 nig ht sta off ys 4.05 % Minimum 5-year investment