Investor, Know Thyself

Our world is full of convenient fictions beloved of much financial regulation— such as the “reasonable man” or “reasonable expectations”—and significant monies are spent in lobbying to avoid brokers and investment advisers having to hold themselves to a tough and unambiguous fiduciary standard of care in advising clients or managing their investments. Of course, nowadays, when you open an account with a Canadian broker, you will have to go through a...