Reflecting on Lessons Learned - March 2024
On the heels of a very successful month, we asked members of our team to reflect on the lessons they’ve learned in their careers, and in their personal life.
Reflections in nature can help us notice small details we sometimes take for granted. The same thing can be true in our personal and professional life.
Cameron Scrivens
Portfolio Manager and President
As JCIC Asset Management approaches its 31st year in business, I am deeply grateful for the visionary spirit of our founders; the people who courageously forged a path of innovation and excellence. This milestone has prompted me to reflect on the remarkable journey we’ve had, and the lessons we've learned along the way. Join us as some of our team share their insights. These are lessons learned over three decades of unwavering dedication and commitment to those who have entrusted us with their financial wellbeing. Thank you for being part of our journey, and here's to many more years of mutual growth and success together.
Thoughts from the Team
From George Youngberg, Associate Relationship Manager
Over the years, I've gathered many invaluable insights. Chief among them is the core concept of prioritizing time in the market over attempts to time it perfectly. I’m not the first to express this idea. Albert Einstein's profound words on compound interest resonate deeply with me. Similarly, Warren Buffett's analogy of rolling a snowball down a hill encapsulates the essence of what I've learned: wealth accumulation is a gradual process, one that requires patience and consistency. Through the ups and downs of the market, I've witnessed firsthand the power of compounding, watching my investments grow steadily over time. As I reflect on my journey, I've come to appreciate the significance of staying the course, allowing the magic of compounding to transform small gains into significant wealth. This philosophy has become the cornerstone of my approach to investing. It shapes not only my financial decisions, but also my broader perspective on life's journey.
Time in the market is more important than timing the market.
From Aaron Coholan, COO + CCO
I've learned the critical importance of managing investment risk. If you accept too much risk, and you could potentially lose a substantial portion of your hard-earned capital. There is a saying, "If you lose 50%, you’ll need 100% return to get it back." That's a sobering reality. On the flip side, too little risk can be equally detrimental. Robert G. Allen's once asked, "How many millionaires do you know who have become wealthy by investing in savings accounts?" It's about finding that sweet spot where you're taking on enough risk to grow your wealth but not so much that you jeopardize your financial security. Your own personal time horizon plays a crucial role in figuring out this equation. The investment return chart featured in last month's newsletter highlighted the importance of maintaining a long-term perspective, but for some people the focus remains in the near-term. It is a moving target with many variables, but prudent investment decisions can set you up for success. Aligning your financial goals and your risk tolerance can ensure a secure and prosperous future.
Balancing opposing forces, such as risk and security, is important for long term success.
From Michelle Burandt, Relationship Manager
I've come to realize the very real importance of taking care of yourself. This encompasses both physical and mental well-being. Nurturing our physical health through regular exercise, nutritious eating habits, and adequate rest is what sets the foundation for a vibrant and fulfilling life. Equally vital is tending to our mental health: fostering resilience and emotional well-being through mindfulness and self-reflection. Self-care can also mean seeking support from others when needed. We all need to be reminded occasionally that true wealth lies not only in financial success but also in the richness of our health and happiness.
Self-care strategies don’t need to be complicated, they just need work for you.
From Adam De Vos, Manager Client Service
One of the most important life lessons I've learned is that it is essential to choose work that I genuinely enjoy, alongside people I appreciate. Considering the amount of time we invest in our careers, it's crucial to find fulfillment and satisfaction in what we do. Pursuing work that aligns with my passions brings joy to my daily life, but also fosters a sense of purpose and fulfillment. Surrounding myself with like-minded individuals who share my values and respect my contributions makes every day at work a rewarding journey.
Doing work you are passionate about, alongside people you genuinely appreciate, is a rewarding combination.
So, let us ask: What lessons have you learned along your path that you can reflect on? And what questions will you continue to ask as you navigate through life's adventures? Let us know the lessons you have learned and what opportunities you're eager to explore next.
Next month, Kai Lam and our Investment Team will provide an update on the portfolios and macro environment. We’ll also host our quarterly webinar. Until then, take care and feel free to reach out if you have any questions.
Important tax information to be aware of:
For Pooled Fund Accounts: RBC has finished mailing tax documents, except for slips related to RRSP contributions made in the first 60 days of 2024. These slips will be sent out by RBC by March 20th.
For Segregated Accounts: It's important to wait for your T3 slips before filing your taxes. These slips will be mailed out before March 31st, giving you enough time to finalize your taxes before the April 30th deadline.
Also, please remember that Management Fees for taxable accounts are tax-deductible.
As your portfolio managers, our goal is to make investing easier for you. Whether you have questions, need assistance, or simply want to chat about the financial markets, please reach out to us. We're always glad to engage in conversations about your investment journey and market trends.
Receive our monthly newsletter direct to your inbox
Disclosure:
Although we obtain information contained in our newsletter from sources we believe to be reliable, we cannot guarantee its accuracy. The opinions expressed in the newsletter are those of JCIC Asset Management, its editors and contributors, and may change without notice. Any views or opinions expressed in the newsletter may not reflect those of the firm as a whole. The information in our newsletter may become outdated and we have no obligation to update it. The information in our newsletter is not intended to constitute individual investment advice and is not designed to meet your personal financial situation. It is provided for information purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor or a group of investors. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. We strongly advise you to discuss your investment options with your Relationship Manager prior to making any investments, including whether any investment is suitable for your specific needs.
The information provided in our newsletter is private, privileged, and confidential information, licensed for your sole individual use as a subscriber. JCIC Asset Management reserves all rights to the content of this newsletter.