Today on the More Money for Beer and Textbooks Podcast we’re talking about the stock market and if it’s a good thing that young Canadians are so afraid of it. Peter Hodson joins us to give his insights into the millennial brain and why we might be making illogical decisions when it comes to our long-term investment planning.
Peter is the CEO of 5i Research and provides independent 3rd party financial analysis. He also writes for many of Canada’s premier publications and is the editor of Canadian MoneySaver Magazine. Before opening up his own shop, Peter was a big shot over at Sprott Asset Management (aka some of the biggest and baddest money people in Canada).
By far the most interesting part for me personally about this podcast was the fact that the former ultra-successful money manager from one of Canada’s most successful companies was willing to speak so strong against mutual funds and their associated fee structures. I thought we might have a fun little debate on the topic seeing as how I’m such a passionate DIY/indexing guy, but Peter is right there with me in denouncing his former profession.
We also chat about:
- How Peter got started in the world of finance & why paper routes are such a great idea.
- Why young people are so scarred following the collapse of the financial world in 2008.
- The fact that the stock market is still a fantastic bet over the long run.
- What you can do today to get started on your investing journey.
- Peter’s upcoming bike ride across Canada and the crazy injury he has sustained in training for it.
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More Beers, More Cheers, That’s It That’s All!