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Investment decisions should be evidence-based Dollars & E Sense vidence-based decisions are becoming more prevalent in all walks of life. Instead of subjective, `expert-based opinions', evidence-based decision-making objectively analyzes the best data available to make empirically-supported decisions. One reason for this shift is the rapidly growing amount of knowledge humans have, due in part to the amount of research being conducted. There are tens of thousands of universities in the world and many offer PhD programs in varying disciplines. The goal of a PhD thesis is to provide new research. Many scholars continue with post-doctoral research, plus professors often conduct research. The net result is hundreds of thousands of scholars conducting research and, as a result, our world is getting a whole lot smarter. It was not that long ago discussions about excessive brutality in the National Hockey League was subject to personal opinion. Now, personal opinion has become obsolete and there is concrete science available to observe concussions. Professional hockey and football will be hard pressed to justify the medical risk to Guest Contributor Peter Watson players as scienti c evidence of head injuries continues to grow. Lawyers are going to have a eld day arguing on behalf of their injured retired athlete clients that better protection should have been provided. Evidence is on their side. So, now for the tricky part. How do you incorporate academic research in your investment decision-making process? From experience, I can say it is dif cult. Earlier in my career, my continued learning and ongoing education was investment industry centric. Regrettably, investment performance earned by investors is subpar. On that basis our investment industry gets a failing grade. Many years ago, when I rst started studysee Scienti c on p.28 FREE Gift $ 10 Card * Offer valid only at Aurora Sobeys - 15500 Bayview Ave., Aurora; 1250 Brant St. Burlington Sobeys; Tillsonburg Sobeys - 678 Broadway Street, R.R. 7 Tillsonburg; Milton Sobeys - 1035 Bronte Street S., Milton; Flamborough Sobeys ­ 255 Dundas St., Waterdown; Stratford Sobeys ­ 581 Huron St., Stratford; Maple Grove Sobeys ­ 511 Maple Grove Dr., Oakville; Bronte Sobeys ­ 2441 Lakeshore Rd, West, Oakville; and Glen Abbey Sobeys ­ 1500 Upper Middle Rd., Oakville locations. Offer is only valid in a single transaction. Offer is non transferable for cash. No cash back. Limit one gift card per Customer. Limit one offer per customer. Re-production of this offer will not be accepted. 7 7 0 974 0 6 90 5 Cannot be combined with other offers. 27 | Thursday, June 2, 2016 | OAKVILLE BEAVER | www.insideHALTON.com * when you spend $20 or more on fresh produce valid Mon - Thurs only *Free Gift Card to be used on your next shop. No coupon required. Offer is only valid in a single transaction and cannot be combined with any other offer. Take your TV experience with you this summer. Download Watch your DVR recordings to your mobile device. T TV V + INTERNET DUO your favourite shows on the go. SWITCH TO THE BEST TV EXPERIENCE $ CURRENT REG. PRICE $105.90/MONTH 59 /MONTH FOR 3 MONTHS + FREE FREE TIVO TIVO DV DVR R FOR 12 12 MONTHS MONTHS FOR ® CURRENT REG. PRICE $15/MONTH cogeco.ca/summer Available only to new residential customers or those who have disconnected their service for more than 6 consecutive months, where technology and access permit. This limited-time offer includes a total discount of $61.95/month for the first 3 months (thereafter, a current regular price of $105.90/month starting in month 4) plus $15/month for months 4 to 12 (thereafter, a total current regular price of $120.90/month). This promotion applies to the following bundled services: High Speed Internet Turbo 40, My Mix 20 TV (with a minimal subscription to Basic Channels), AC Wi-Fi modem rental and the TiVo DVR rental. Taxes not included. Offer ends August 7, 2016. Installation and/or activation fees may apply. A termination fee of $75 per service shall be charged to customers. Cannot be combined with any other promotion on the same service. Preauthorized debit or credit card payment will be required. Visit cogeco.ca/summer for more details and conditions and check the availability of this offer in your area. © 2016 TiVo Inc. All rights reserved. TiVo and the TiVo logo are registered trademarks of TiVo Inc. or its subsidiaries worldwide.