Hi, my name is David Jenkins. I am married and have three, they would have me say, “terrific” daughters. Actually, I agree with them! They have inspired me to write this website to provide investing guidance to their friends and other young people.
Prior to starting TheAnswerIs.ca, I was on the Board of Directors and President of Canada’s largest independent real estate valuation company. During that time, and in my subsequent position as Chief Operating Officer at one of Canada’s most innovative industrial companies, I have participated in over 25 acquisitions and dispositions of public and private companies.
I have been a bit of an investing buff for thirty years. Over that time, I have made, and learned from, my several investment mistakes. Unfortunately for me, but good for you, the best source of knowledge is experience. I hope to share my knowledge with you so that you avoid the investing potholes I fell into.
In terms of formal education, I have an Honours Bachelor of Arts (HBA) from the Ivey Business School at Western University, an Accredited Appraiser Canadian Institute (AACI - Retired), a real estate valuation credential, and an Institute of Corporate Directors (ICD.D) from the Directors Education Program at the University of Toronto’s Rotman School of Management.
All of this has contributed to my ability to understand strategy, valuation and investing to achieve long-term success.
Over the last six years, I have spent considerably more time and effort managing my portfolio and my wife’s portfolio and convincing my three daughters to start their own portfolios.
My three daughters are all quite different, but they all agree that one day they want to have more money than they have today.
My eldest daughter is a free-spirited artist who looks and dresses the part! She is happiest when she is creating, and one day if (when) she makes big money at her craft, it will be a bonus. She is careful with money because she has had to learn to fill the gaps between gig paycheques.
My middle daughter just graduated from university. She was fortunate that she had a summer job in third year, which she parlayed into a full-time permanent job. She is a dedicated careful saver and investor.
My youngest daughter is in third year university taking what she calls math, (they do not use any numbers!) She has saved almost everything she has ever earned or received since she discovered the shine on nickels, dimes and quarters. She knows that saving is just the start of financial success, and that she must invest to be successful long-term.
My daughters have completely different personalities and are at quite different stages of their young lives. However, they have similar questions about money and all plan to be financially independent.
They have told me that this common theme runs through their groups of friends. Young people want to have money, want to know what to do with their money, and want to know how to make their money, make money for them so that they can achieve financial liberty.
This website was originally going to be a collection of private notes to my daughters, but they suggested that I step it up and write a public blog instead.
For the record, I am self taught investor.
I am not a Professional Financial Advisor (PFA), Certified Financial Planner (CFP), Personal Financial Planner (PFP), Chartered Investment Manager (CIM), Chartered Financial Analyst (CFA), Chartered Life Underwriter (CLU), or a Registered Financial Planner (RFP).
Yet, there is no analysis that indicates that having any of the above designations leads to long-term, above-average investment returns. The absence of these financial designations does not preclude me, or you, from becoming a successful investor.
I promote the website by offering free interactive one-hour presentations to universities such as Western, York, George Brown, etc., as well as businesses. I have also spoken at the PMO’s to 80 summer interns.
Barbecued hot dogs are better with toasted chopped pecans on them. (Actual fact.)
If you find yourself in a hole, stop digging. People can handle the truth, what they can't handle is being lied to. (As I’ve said over and over to my daughters.)
You will learn the most from people who are not like you. (This I learned from my good friend in Quebec City.)
Bad things can happen to good people.
Life may not always be fair. But our job in life is to play the cards we are dealt the best we can. (Decide to have a positive attitude.)
Work so hard "they" think you are lucky. (Saw this one on a Nike poster.)
Have a little more fun than you are used to. Life is not a dress rehearsal. (Got this one from an old friend when we were drinking too much, but it still made sense the next day.)
A person who never made a mistake never tried anything new, (Albert Einstein).
Ready, Fire, Aim – don’t get paralyzed by analysis paralysis, just get started on your investment path.
It takes zero talent to be on time, make an effort, keep up your energy, have the right attitude, live with passion, and be prepared. Always do your best. (Thanks to LinkedIn for this one.)
Oh yeah, this is a financial website …… soooooo here's a great one for you: Compound interest is "mankind’s greatest discovery". (From the world’s smartest man, Einstein, and he should know!)
To simplify the complex world of investing, so that one has the knowledge, aptitude and confidence to invest for themselves. This website will provide step-by-step instructions for a Model Long-Term Investment Portfolio (MLTIP) containing six low-cost ETFs that are well-diversified both geographically, and more importantly, by economic sector.
To raise money for charity, specifically the Sanfilippo Children’s Research Foundation, or alternatively the charity of your choice.
Where to turn for investment help?
A great financial advisor can be hard to find. If you find one, s/he can help map out an investment strategy, provide access to research and information, save you time, monitor and rebalance your portfolio, and assist with paperwork.
However, some financial advisors have an inherent conflict of interest, may not act in your best interest, rarely if ever outperform the market, and over the long term will charge fees that can cost you 50% of your total returns.
Most investment advisors, and all Robo advisors, historically have asked people that know little if anything about investing a few questions and then they use these uninformed answers to select their clients’ asset allocation and product mix. This process does not generate the best results for young people, or anyone with more than ten years to invest.
A better approach is to educate ones’ self to understand the impact of asset allocation, product mix, and excessive trading can have on your long-term portfolio value. It is relatively easy to gain the basic knowledge and aptitude required to manage ones’ risk tolerance which will ensure an investor has the optimum asset allocation and product mix for their needs and profile.
In the investing world, some basic knowledge is necessary, but not sufficient, for investment success. This website is about imparting some basic investment knowledge together with the aptitude required to enable an investor to successfully build their own low-cost, diversified ETF portfolio.
My lovely wife and three kids for listening to me ad nauseam about possible ideas for this site, and for spending significant time reviewing the materials and website during its development.
Elisabeth and Randall Linton and their three children Connor, Jessica and Elisa – the creators of the Sanfilippo Children’s Research Foundation. The Linton family’s courage, perseverance and selflessness are a source of energy and an inspiration to many.
Tracy Keenan, for her expert eye, professional editing and innovative marketing ideas.
Rose Oushalkas for making sure all the legal i’s were dotted and the t’s crossed.
Ed Galka for performing numerous numerical confirmations.
Mark Corker for encouraging the initial endeavour and reviewing key concepts and ideas.
And especially to Lisa Sceviour for adding her creativity to transform some pretty dull content and bring it to life online.
Thank you for your visit and lecture to my undergraduate personal finance class. The feedback I received was quite positive and many of the students were chatting about your ideas well after the class. Overall, our students always benefit from a "practitioner" versus "academic" perspective and your candid remarks helped them compare and contrast between different views on investing and portfolio construction. And of course, since you were rated quite highly as a speaker, I would love to have you back again next semester again. Kudos and much appreciated.
Professor M. A. Milevsky, Ph.D.
York University, Toronto
In my undergraduate elective Wealth Management, at the Ivey Business School, our focus is on identifying and implementing a short list of ‘high impact’ activities that we know will lead to the accumulation and preservation of personal financial capital. As a guest speaker in the program, Dave Jenkins brings an energizing passion and uncompromising clarity to the students through his simple yet impactful messages. Students consistently rank his lecture as one of the highlights of the course.
Chuck Grace CPA CMA CMC
Finance Faculty, HBA Faculty Director, Ivey Field Project
Research Engineer, Centre for Quantitative Analysis & Modelling
The AnswerIs presentation to the undergraduate students at UTM was very instructive and engaging. The presentation was a good opportunity for students who have very little knowledge of investing to understand some key investment concepts such as compounding, time horizons, risk and volatility. The interactive nature of the presentation kept students engaged and allowed them to ask pertinent clarifying questions. Overall, this presentation is well suited to young people who are considering entering the world of investment.
Dr. Radha Maharaj
Institute of Communication, Culture, Information and Technology (ICCIT)
University of Toronto Mississauga