Canada should be the most attractive jurisdiction in the world to invest in: Former CPPIB CEO
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- เผยแพร่เมื่อ 22 เม.ย. 2024
- Mark Wiseman, former chair of AIMCo and former CPPIB CEO, joins BNN Bloomberg to weigh in on the ongoing debate on where Canadian pension funds should be investing. He says he'd love to see more pension fund money in Canada, but there are several barriers to achieving that.
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I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises of plummeting stocks which were once revered and i don't know where to go here out of devastation.
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown
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Pension money should be focused on where it gives Canadians the highest return. Full stop !
I disagree. By forcing pensions to invest more in Canada, we can raise GDP which raises tax revenue. You should keep in mind that your pension is only one part of what supports you in retirement. Tax revenues cover healthcare and many other things.
But I will say that I don’t trust the Trudeau liberals to implement such a change without creating all kinds of unnecessary red tape.
@@aawshaw throwing money on something dysfunctional doesn’t fix it! Government is a very good example .
If Canadian economy was indeed profitable , people would invest from everywhere in the world.
Red tapes , high taxes and too much regulation is the problem not imvestement
@@red149 Excessive regulation and red tape is indeed a serious problem in Canada, and it has gotten worse under Trudeau.
But you should consider that when Canada competes for foreign investment, we are competing with many countries that have very poor environmental standards and little to no social safety net.
Our tax rates would be much lower if we abolished the welfare state, and businesses could be much more profitable if there were no environmental standards to uphold.
The fact that a Canadian pension fund may get a higher return from investing in a country like India does not necessarily mean that we should try to emulate what they do to their natural environment, and it does not mean that we should reduce our healthcare and welfare support to their level.
Canadian pensioners benefit immensely from the welfare state, including healthcare, as well as old age security.
Another point I would make is if Canadian pension funds had a greater stake in the profitability of Canadian businesses, I think that would improve the social license for corporate profits. We might hear less nonsense from the populist left (esp. NDP) about the evils of corporate profits if the benefits of those profits were more widely shared. That could lead to more business friendly policy making.
@@aawshaw I have a fundamental problem with socialism like public pension plan , universal health care and welfare . Big government always results in destruction of a fair and free market . The real prosperity comes with real free market and not with more and more controlling people’s money . Pension plan is the classical definition of a Ponzi scheme.
And we cannot compete with other countries because other countries work harder and expect less .
We used to be the productive ones but more and more the economy simply becomes how much money the government distributes
@@red149 I’m obviously more concerned about inequality than you are. But that’s fine, reasonable people can disagree.
I would argue the real Ponzi scheme is the real estate market in Canada, which allows homeowners to walk away with millions of dollars in capital gains totally tax-free, while work and business investment continues to be taxed more. Why invest in a business if you can make more money simply owning a house? If the government had any courage and really was concerned about millennials and generation Z, they would eliminate the capital gains exemption on primary residences, rather than hiking the capital gains inclusion on business investment. The extra revenue could be used to cut income taxes.
And I would also caution against the myth of an idyllic past that never really was.
As a Canadian, my equity investments are everywhere BUT in Canada
No thanks!
Could it be because Canadian economy is going down the drain and doesn’t produce nice return anymore ?
@@red149 precisely
I feel Canadians keep projecting comments like this out of spike because of issues with standard of living and declining competitiveness yet the TSX has consistently done better than much of the world. Canadas equity market is predominantly ologopolies in financial and telecom sectors with fat margins due to limited competition and then the energy and resource sector
Our competitiveness and standard of living issues have little to no correlation with our stock market
For the record i dont support the idea of forcing funds to invest more here tho
Government red tape, high taxation, and lack of continuity between the provinces will continue to have Canada underperform.
Why tf would we want more of our retirement money invested in Canada? The country that cant event build an app? We cant do ANYTHING right in Canada! If they want to change it, then I want a say in the matter, let the citizens vote on it. Its our money. Not the governments
Actually, the app you are probably referring to was the ArriveCan app developed by CG Industries. They charged the Liberals $19 million for that app. There was another IT company in Canada that recreated that app over a weekend and said the maximum price for it should have been $1 million. So yes we have companies that can develop apps at a reasonable cost. The Liberals procurement people just don't know who to contact and contract out to.
I only invest in MURICA and decentralized things.
The last thing I want is Ottawa making financial decisions with my money. They do such a great job with the money they already take. Crooks!
If we had a competent government...one that didn't squander resources, constantly spend beyond means, pay themselves through their scams while taxing Canadians into infinity, then it would be a profitable investment. The resources are there, but that's where it ends.
I'm favoured, Getting my own Truck has always been my Dream for my business. I just acquired 2 recently, earning $72K weekly has been really helpful. I can now give back to the locals in my community and also support Charity Organizations.
Hello how do you make such monthly ??
I'm a born Christian and sometimes I feel so down of myself because of low finance but I still believe in God.
Thanks to Andrea Sheryl Fox.
She's a licensed broker here in the states
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this former CEO of CPPIB is a very clear speaker. I often don't get clarity from speakers but he made it very clear and also very inspirational. it's true to identify the root cause Ie. can't force CPP to invest in Canada but you can make Canada a more attractive place to invest in.
3:04 Forcing pension funds to invest in Canada, may be a market distortion, but so is progressive taxation. Without any market distortions of any kind we would suffer from severe inequalities.
I’m Canadian and I would suggest people to not Invest here. Trash government.
Actually, the resource sectors look good. We are probably heading into a commodity boom. The problem in Canada is the time it takes to get anything done. To fully permit a mine in Canada takes 10-12 years? Should be streamlined to 1-2 years. Fossil fuels are in demand. Many Canadian oil companies are sitting on 20-year reserves. Costs of production in CDN$ selling product in US$. Canada is now the 4th largest world oil exporting country. Canada has the 3rd largest oil reserves in the world. We should be starting a second pipeline to BC tidewater now as things take so long to get done in Canada. No, we do not want the federal govt to do it! We want private investors to do it. Encourage more oil exploration off the coast of Nfld & Lab. Develop LNG in Quebec and New Brunswick.
Manufacturing is coming back to Ontario under the Ford Conservatives. Manufacturers could not get out of Ontario fast enough under the McGindy /Wynne Liberals.
You just need a government in Canada that cuts red tape /bureaucracy in getting things done in Canada. Have a sieze the day attitude.
Canada could have more major investments in natural gas. The coastal gas link pipeline has been completed. The LNG plant is being completed. That is a $40 billion project. The largest $ project in Canada's history! The Chancellor of Germany came to Canada looking for natural gas. Trudeau was not interested? Canada has deposits of natural gas in Quebec and New Brunswick that could be developed for LNG export of natural gas. The Chancellor of Germany then went to Qatar and signed a $100 billion /15-year contract with Qatar. Canada could have had that contract. Perhaps Mr Trudeau is unaware that the EU has now classified natural gas and nuclear energy as green energy?
The Premier of Alberta goes to the USA to promote Canadian oil. There were no bids from major oil companies for parcels of exploration fields offshore Nfld& Lab. What is the federal government doing to promote Canadian fossil fuels? We do have a minister of resources in Canada, don't we?. Canada has the 3rd largest world oil reserves and lots of natural gas.
So what do the Trudeau liberals do? Pass legislation that Canadian oil companies must take downstream emissions into account for exports of Canadian oil other oil-producing countries in the world consider downstream emissions?
Amazingly, money doesn't naturally flow to high taxation, high regulation, and falling productivity. The government is far more interested in gay/trans rights, the environment, and special interest groups than they are in the economy. Those issues are important, but a continual weakening of our economic base and balance sheet has taken a large toll on the country.
Pension plan managers should make good investment decisions without any political interference. Forcing Can-con would send a message that it's an undesirable place to invest. Save drastic action for times when the ship is actually sinking.
We have great companies, but it's a small market: Constellation Software, WSP Global, CP Rail, Alimentation Couche Tard, Cameco, Dollarama, Waste Connections
Canadian companies strive for mediocrity relative to all developed countries. These names were huge at one time - Corel, Nortel, BlackBerry/RIM, Canada ARM, C-Series, Avro Arrow … to name a few. And was squandered away… we grow our wealth through real estate, legalization of weed and lotto 649 / gambling. The little manufacturing that we did have was sent to china, Mexico etc in name of “free trade” agreements such as NAFTA et etc. trade is good only when it benefits both parties. Canada is a great country. But I feel it’s starting to rot at its core. We will not see it coming until it will hit like freight train.
Actually, you are seeing a resurgence of manufacturers locating /investing in Ontario under the Ford Conservative govt. During the McGuinty/Wynne Liberal governments manufacturers were fleeing Ontario.
Our country still has a bad culture of "don't get too big for your britches, what are you an American?" and an attitude that we should rather have one or two monopolies that ensure the provision of services rather than competition that drives innovation. There are so many opportunities that are going to be available to us in the next 100 years and if we got dumb governments and this Scotsman's attitude about investing to die, we'd actually be able to get some traction.
Less Government restrictions and fast track permits
We need to invest less in real estate and more in industries that create things.
Ya we all pay into the pension fund u could take that money and invest it to give people more money in retirement
In a managed market economy all aspects are controlled by the government ergo this legislation will get pushed through
Ya it should be
Too many companies are implementing ESG policies, they are woke and too risky for investment.
😂😂😂
I want to laugh so hard and fall off the chair….. Canada is the least investable country.
That ship sailed a while ago when countries were scambling for resources, global business and investment does not wait for slow pokes.
Will these pension funds build us all a bunker to ride out WW3?
Canada uses Newcomers to pay pensions of old Europeans through tax
You cannot force the investment in a specific country. If Canada is a great investable country, then investment is coming automatically from the world. Look what Ottawa did to Alberta's oil and gas industries.
Just look at what the Liberals did to the trucker convoy and their bank accounts, and the bank accounts of people that supported the convoy. Would anybody willing put their investments under such a precarious situation, when they had other safer investment options?
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Open source marketing
There is no such thing as public money; there is only taxpayers' money.🤭 83% jabbed Canadian population won't use their pension fund.😏
lol
We must tax everyone into poverty! We must force all Canadians to only invest in Canada. This is the only way for future prosperity!
Invest in the USA with your tfsa. F Trudeau and Canada
Yep
10000000000%
The Canadian Dollar is a good performer in the world, Canadian property out performs, Even Canadian equities are not so bad. Canada is a safe haven and a great alternative for diversification vs. USA.
Real estate is dead money … for an economy.
The pension managers will invest in profitable companies. If Canada had more profitable companies, there would be more investment in Canada.
This is our retirement fund we're talking about. It isn't going to invest in start-ups and high risk ventures within Canada just because they are Canadian.
If government passes legislation to allow them to guide where retirement funds have to invest, that is some horrible banana republic level decision making.
Act like a banana republic, become a banana republic.
And yet, it's exactly what the Cons what....they want to raid the well run, globally respected CPP.
Hahaha Invest in a socialist swamp? Good luck on that.
Pension funds seldom make the best investment decisions 💸💸💸, but often the worst. However, they all know better not to invest in Canada 🍁.
It's not !!we're taxed to death and now with capital gains tax we're screwed
Should be but it isn't ... recently my adviser was dismissive about investment in Canada - with two exceptions he has me in U.S. or other areas . Canada is not an attractive place.
Yeah, cause we all know dying industries such as oil, oligopolistic telcos and banks would perform amazingly in the long run.
Dream gone
Chrystia Freeland has no knowledge in economics and finance
Try telling a drama teacher this. He doesn't have the intellectual capacity to understand.
this is sci-fi
!My outlook on money changed when I realized someone making $300,000 can retire broke & someone making $80,000 can retire a multi-millionaire. With the current market movement, you have $100,000 to invest. Where are you investing it?
Money advice varies, but planning is key. Exposed to personal finance early, I started working at 19, bought my first home at 28, faced job loss at 36 during COVID. Consulting a CFP helped grow my finances. Currently, I'm 25% short of my $5m goal.
That is just amazing! Could you please tell me about your Certified Financial Planner (CFP)? This year, I'm considering some financial changes.
Yes, Andras Bohm made headlines in 2020, but I'm not sure if I can bring him up in this context. he manages my portfolio and acts as a counselor for me.
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Hello how do you make such monthly ?? I'm a born Christian and sometimes I feel so down 🤦 of myself because of low finance but I still believe in God.
Thanks to my co-worker (Alex) who suggested Ms Chloe Linda Henderson.
She's a licensed broker in the states 🇺🇸
After I raised up to 325k trading with her I bought a new House and a car here in the states 🇺🇸🇺🇸 also paid for my son's surgery (Oscar). Glory to God.shalom.
Wow that's nice She makes you that much!! please is there a way to reach her services, I work 3 jobs and trying to pay off my debts for a while now!! Please help me.
The BEST investment decision for Canadians going forward is to Invest Canadian Pension founds in Canada.
And not going in other jurisdictions.
We need investments and prosperity in our country
Should be? But it is not!
Yes regulations need to help trade and investment but the capital gains tax change does not restrict that as it is still lower than the US. Elon sold his 1st X company and paid 36% tax while in Canada it will be 26% up from 20%. Govt investments help build the innovation ecosystems needed. Like they do in the US with DARPA and NASA for example. Ps. this was dubbed!