This colder weather is forcing our family to spend more time inside. We thought we would share some interesting articles and podcasts for your weekend enjoyment should you decide to spend it inside staying warm!
Jim Allworth from the Global Portfolio Advisory Committee is always a popular speaker with our clients. Recently Jim provided an update on the investment outlook for the year ahead. To hear Jim's thoughts on the economic progress made since the beginning of the pandemic and the U.S. elections listen to A Market Update with Jim Allworth. Jim always has great perspective and believes that even though the new restrictions are worrying, there is progress and we are headed in the right direction. Looking at other crises such as the Spanish Flu, World Wars and the 2009 Recession, after all of these major economic disasters the economy did recover. Although COVID-19 has affected the market negatively Jim says "this too will end" and investors need to continue to focus on the long term.
RBC Economics continues to look at consumer spending, including areas such as entertainment, travel and online shopping. RBC COVID Spending Tracker report displays how Canadians have been spending since January 2020. The restaurant industry saw stronger numbers with warmer weather but as temperatures dropped so did this trend. Visit the COVID Consumer Spending Tracker for further insight.
If you are interested in U.S. politics (I am not sure how you could avoid it these days) this article reviews Biden vs Trump: What the Polling Numbers Tell Us. There is also a link to some interesting polling data conducted by Hart Research for the latest NBC-Wall Street Journal poll. After the 2016 election it is hard to rely on the polling data and nobody is feeling confident to project the winner. Hopefully we will wake up on November 4th with a declared winner.
Are you a business owner? Are you prepared for a cyber attack on your business. Small businesses have become prime target for hackers, in this article you will find out what to do if Your Business has Been Hacked. Now What
I continue to enjoy some of the thought provoking pieces that RBC has produced through their 'Thought Leadership' platform where they provide insights about social, economic and technological trends in this age of disruption. The recent addition to this collection is on facial recognition technology. With accuracy of facial recognition near human level and a market for this technology set to double within the next five years, this article asks some interesting questions:
- What is this technology used for and does it equate to surveillance?
- How is this different than other personal data, like a fingerprint?
- What does this mean for Canadian businesses?
Technology really has become central in our lives during COVID. In-person interactions have been replaced with digital ones as we cannot socialize in person like we once could. This has led to an increase in mental health concerns, particularly with young people. The Canadian Pediatric Society states that high school students now spend more than 7.5 hours per day in front of screens. Dr. Joanna Henderson, a clinical psychologist and director at the Centre for Addiction and Mental Health in Toronto discusses the potential risks and rewards of our growing reliance on technology in the podcast Apps, Anxiety, and Adolescence: Youth Mental Health in the Age of COVID.
We value providing financial literacy for our clients and their children. RBC Wealth Management has produced a short video simplifying budgeting and making savings a priority. Please share with the young adults in your lives and know we are always here to support you and your family's financial needs, Finding success with budgeting.
RBC Wealth Management invites you to a special virtual event – In Conversation with Angela Duckworth. John Stackhouse, Senior Vice President, Office of the CEO, RBC, will host a conversation with special guest Angela Duckworth, author of the New York Times best-selling book Grit: The Power of Passion and Perseverance, and founder and CEO of Character Lab, a nonprofit whose mission is to advance scientific insights that help children thrive.
Angela is a Professor at the University of Pennsylvania, faculty co-director of the Penn-Wharton Behavior Change for Good Initiative, and faculty co-director of Wharton People Analytics. A 2013 MacArthur Fellow, Angela has advised the World Bank, NBA and NFL teams, and Fortune 500 CEOs.
Angela’s TED Talk is among the most-viewed of all time.
If you would like to attend this virtual event on Tuesday, October 27 at 4:00pm please contact Lauren on our team and she will be pleased to send you an invitation so you can register for this talk.
Enjoy your weekend!