[ Archive | ContactUs | Education | ETFs | Glossary | Links | IndexFunds | Retirement | RRBs | Search ]
The solution is simple—Invest with simplicity.
The objectives of this website are to encourage you to take more responsibility for your financial future, to help you learn how to invest on your own, and hopefully to make at least a modest contribution to achieving your financial goals.

See also: finiki, the Canadian financial Wiki and A Primer for Canadian DIY Investors

Comments? Questions?
Financial Wisdom Forum or Bogleheads Forum

Note to reader: This is site is no longer being, um, actively managed. Therefore, while the general information is still valid, specific reference information like the table in Low-MER No-Load Index Funds Available in Canada is now out-of-date.

Regulators starting to tighten leash on ETFs [Globe and Mail, 15Mar12] "Exchange traded funds are all the rage these days, and regulators have quickly realized that oversight hasn’t kept up with the explosion. Not only do regulators want to ensure that investors aren’t getting screwed, they’re also worried about the effects ETFs have on marketplace stability. The Bank of England recently pointed out that the complexity, opacity and interconnectedness of ETFs can “amplify propagate stress across markets.” In layman’s terms: they can really mess things up."
Discuss on FWF

The Bogle Issue [Journal of Indexes, March/April 2012] "If one person can be credited with making the existence of this publication possible, it would be John Bogle. Yes, indexes have been around for over a century, but it wasn't until Mr. Bogle launched the Vanguard 500 and kick-started an entire investment phenomenon that they were viewed as anything other than measures of the market. So some 35 years after the advent of the first index fund, it makes sense to pay tribute to the man who started it all."
Discuss on FWF

Is 'Derisking' Even Riskier? [WSJ, 25Feb12] "When you 'derisk,' be sure you understand whether you are eradicating risk—or just replacing old risks with new ones... When everyone seems to want to unload the same risks at once, it is a good idea to ask yourself whether joining them might be the biggest risk of all."
Discuss on FWF

Understanding MERs, management fees and other costs [Globe & Mail, 23Feb12] "You can’t control what the market will do from one day to the next, but by understanding management fees, MERs and TERs, you can get a grip on your investing costs. Keeping these costs down is one of the secrets to building wealth over the long run."
Discuss on FWF

The flaws in Canada's financial adviser system - The Globe and Mail [Globe & Mail, 17Feb12] "In the investing industry, the line between what’s best for the client and what’s good for the adviser is easily blurred. Advisers want their clients to enjoy high returns, but they need to make money, and the potential for large rewards is tempting. That creates an inherent conflict of interest in many client-adviser relationships, critics say, and too many investors are left in the dark about the fees they’re paying to advisers and the effect those fees have on returns."
Discuss on FWF

A dozen ways financial advisers can stretch the truth - The Globe and Mail [Globe & Mail, 17Feb12] "When people make a living selling products, they sometimes stretch the truth to make a sale. It certainly happens in the financial industry, where people spout all kinds of nonsense to get investors to buy what they’re selling. Here are 12 examples of untruths told by investment advisers who put making the sale above what’s best for clients."
Discuss on FWF

Why "stay the course" still makes sense [Vanguard, 19Jan12] "Yes, the future is ultimately unknowable. What you can know, however, is your personal time frame for reaching your financial goals and your personal tolerance for taking financial risk... If you have a longer time frame—as most people do when investing for retirement—then we believe a balanced and diversified portfolio can help you reach your goals. And if you lose a lot of sleep worrying about your investments, you should probably factor your lower personal risk tolerance into your asset allocation."
Discuss on FWF

Your own worst investing mistakes [Canadian Business, 19Jan12] "Investing is a marathon, not a sprint. Look at last year’s winners if you must. But don’t buy anything based solely on past performance. The biggest investment enemy, after all, is the one we face in the mirror each day."
Discuss on FWF

older stuff Older Stuff

Search WWW Search bylo.org

 Other Stuff

Asset Correlation Data for Canadian Investors
Buying US Securities from Canada • US Estate Tax Issues for Canadians
Bylo's contribution to improving Canadian literacy
Can you afford to invest in mutual funds?
Can you find an honest advisor or broker?
ASL Direct offers mutual fund trailer fee rebate
CIBC's special MER rebate offer to index fund clients with large accounts
How Much Can You Safely Withdraw From Your Savings During Retirement?
How To Measure The True Cost Of Holding A Fund
Exchange-Traded Funds and Indexes
Investment Aphorisms
Low-MER No-Load Index Funds Available in Canada
On MERs, Taxes and Partners
Mutual Fund Fee Impact Calculator
updated  Performance of Indexed vs Actively-Managed Portfolios for 15 years ending 31Dec07
Real Return Bonds for Canadian Dummies
Rogues' Gallery
The Stromberg Files
Why Diversify?

 Random Stuff

Fama Factors Out French: "I Did All The Work"
Bylo rebuts  Index-fund pros and cons (and con jobs?)
Bylo rebuts  Indexing caused "devastating losses"
Bylo rebuts  The problem with indexes
Confessions of a Former Mutual Funds Reporter
Bylo rebuts  Investment Café
Dear Bylo
On Buy-and-Hold
Top ten reasons NOT to index
Bylo rebuts  Index funds have their dark side, too
Seven Investing Principles
Investing with hindsight
What's in the bag?
Plain language risk disclosure
Securities markets revealed
Improbable probabilities
Investing's rule-of-40
What's a billion?
Something to think about
Warren Buffett's Quiz for Investors
Most clients lost with Lynch? Call it the Magellan Myth
Dilbert, Alex and Herman on Investing
More cartoons on: Investing, Mutual Funds, Retirement, Stocks, Finance

 Bylo in the News

We did it! They heard us! Finance department news release of 07Sep00
Thank you to everyone who spoke up against the proposed tax changes to US funds and ETFs held by Canadians. With your help we made the Finance department listen to ordinary Canadians before they introduced legislation that would have devastated many of our portfolios. See also Revised Draft of Legislative Proposals for the Taxation of NRTs and FIEs and Proposed rules on treatment of FIEs.

new  Primer on ETFs: Some help amid the bear market [Globe & Mail, 21Mar09] "bylo.org: A do-it-yourself investing advocate known as Bylo Selhi maintains this site, and the emphasis is on index funds and ETFs. You'll find a helpful list of links to the websites of the Canadian and U.S. companies offering ETFs, as well as to a web page with a complete inventory of ETFs listed on the Toronto Stock Exchange. If you want to better understand the indexes that ETFs track, this site has links for them as well."

Seven essential websites for becoming a better investor [Globe & Mail, 29Jul08] "Financial wisdomforum Forum is the online financial-discussion board with the highest level of discourse on investing subjects in Canada, thanks in large part to frequent contributions from knowledgeable participants such as Bylo Selhi (an index-fund advocate), Shakespeare (the author of an online investment primer) and Yielder (a dividend investor). And they don’t mind answering questions."

Index investing: 'Just set it and forget it' [Toronto Star, 19May08] "Index funds are suitable for those who have little money to invest and want to buy small amounts on a regular basis. You can find links to low-cost index funds at www.bylo.org/idxfunds.html... Index investing makes sense for people who don't find finance fascinating... It's the perfect 'set it and forget it' strategy, giving satisfactory results and requiring very little attention, so you can get on with your life."


No big deal - you don't have to worry about
risking your life savings. We do it for you.

National Post, 19Feb01
National Post, 07May03

Investing web site of the month • March 2002
Investing web site of the month • March 2002
IFOM Excellent Canadian Financial Web Content Award winner Retirement Planning: Canada Best-of-the-Net Award winner

e-mail Bylo 
E-mail your comments to Bylo

Sign Bylo's guestbook  sign Bylo's guestbook  View Bylo's guestbook

[Home | Back | Forward]

Do not construe the information provided here as authoritative investment advice.
All information provided or referred-to on this website is for informational purposes only. It is not intended to be financial, legal, accounting or tax advice, nor should it be relied upon as such. Bylo Selhi is not a licensed financial planner. If you're not inclined to Do-It-Yourself then please, before you Do-It-To-Yourself, obtain professional financial planning advice. The only remuneration that Bylo derives from this site is the satisfaction of helping other independent Canadian investors achieve their financial goals. Now for the really fine fine print...

Disclaimer: As is the case with certain other activities (some of which are much more pleasurable), reading fine print and/or prospectuses may cause blindness. Do not construe the information provided here as authoritative investment or medical advice. Always consult a qualified professional because your situation, jurisdiction, psychology and/or physiology may be unique. Bylo may hold securities mentioned herein. Bylo's advice may be worth more or less what you paid for it (if it's not altogether worthless.) Satisfaction guaranteed or Bylo's fees will be cheerfully refunded. Revenue Canada has determined that Bylo's fees are fully tax-deductible. Past performance is no guarantee of future returns. Reproduction of any kind is strictly prohibited. Any references to real persons, living or dead are purely coincidental. Void where prohibited. Some assembly may be required. Batteries are not included. Actual mileage may vary. Contents may settle during transport. Contents under pressure -- container may explode if heated. Use only as directed. No other warranty expressed or implied. Do not read while operating a motor vehicle or heavy equipment. This is not an offer to sell securities. Avoid contact with skin. Apply only to affected area. Discontinue use if rash persists. If condition persists, consult your physician. May be too intense for some viewers. For recreational use only. All models over 18 years of age. No user-serviceable parts inside. Freshest if consumed before date on carton. Specifications are subject to change without notice. All times are approximate. Breaking seal constitutes acceptance of agreement. Not for use off-road. As seen on TV. One size fits most. May contain peanuts. Colors may, in time, fade. May be slippery when wet. Not for official use. Not edited for children. All information was current at time of compilation. Not responsible for direct, indirect, incidental or consequential damages resulting from any defect, error or failure to perform. At participating locations only. Substantial penalty for early withdrawal. Do not write below this line. Beware of falling rock. Close cover before striking. Sanitized for your protection. Beware of dog. You must be present to win. No purchase necessary. See store for details. Use only in a well-ventilated area. Keep away from fire or flame. Some equipment shown may be optional. Prices do not include taxes. Not recommended for children. Driver does not carry cash. Some of the trademarks mentioned on this website appear for identification purposes only. Offer valid only where permitted by law. Valid only at participating locations. Alcohol handwash is flammable. No animals were harmed during the making of this website. Estimated Limited Preliminary Unaudited Results. E-mail your favourite disclaimer to Bylo. Caveat investor.

Disclaimer for those who still think they may have a case against Bylo: All clauses of this disclaimer apply to the disclaimer itself, except for this first sentence. All other disclaimers that may be found on this site, or sites linked to herein, are obviously subsets of this disclaimer and/or invalid, illegal, or fattening. This disclaimer is provided for informational, misinformational and metainformational purposes only and should not be construed as a solicitation or offer for anything whatsoever. This disclaimer may contain forward-looking statements, and probably will contain backward-looking statements, too. All metainformation, HTML tags, photographs, artwork, text, opinions, ideas, facts or factoids contained in this site are either duly licensed from and/or attributed to the writers, owners or copyright holders, or in good faith presumed to be in the public domain, or quotable under some sort of "fair use" clause. You're free to copy, reproduce, expand, excerpt or adapt this disclaimer to your own purposes, at your own risk, as long as you assume all responsibility for doing so. All comments published in public forums are under the exclusive responsibility of the respective posters and may be subject to separate copyright provisions and disclaimers; however, I reserve the right to edit, delete, curtate or eliminate all comments on personal whim. This shall be subject to no criteria of reasonableness. All posters to such forums must implicitly accept the full provisions of this disclaimer. Text, tags, metatags, scripts, trackbacks or links on this site may have been totally or partially generated by distributed software and/or information gathering and diffusion mechanisms of uncertain location, provenance or intentions. All products, brands and company names mentioned will probably be trademarks or trade names of the respective companies and you should mentally insert the appropriate ™, ©, ® or whatever wherever appropriate. Any links to external sites and any comments about the contents thereof should not be construed as endorsement, tolerance, approval or disapproval of such contents, even if such comments overtly purport to do so. E-mail me if you have detected a demonstrable copyright violation. 90% of all cited statistics may have been made up on the spot. Before entering this site be sure to make at least two back-up copies of your mind and other important data on other media to protect against data loss. In case of error, reinstall universe and reboot. Brains sold separately. Sense of humor must be provided by third parties. If you do not understand, or cannot read, all directions, cautions and warnings, do not access this website. Use, duplication, disclosure or ritual exorcism of this information by the Government (any Government) is subject to the restrictions of physical laws. There is no conscious attempt made nor desire extant to libel or otherwise cause malicious damage, loss, public contempt, defamation, slander, blasphemy, treason, sedition, or ridicule to persons of any gender or even none, cabals, corporations, governments, institutions, corporations, or assemblies of inanimate objects, alien lifeforms, microorganisms, clergy, vegetables, animals, or any collections thereof. No representation whatsoever is made as to the accuracy, political correctness, spelling, syntax, semantics, content or meaning of the graphics, text or downloadable files on this site, or of suitability for use or quoting elsewhere or for any other particular porpoise. As far as I'm concerned all information herein consists solely of sequences of zeroes and ones, being presented as either a satire or a parody of other sequences of zeroes and ones (or even of the ones and zeroes themselves) and neither I nor my service provider can be held responsible for any further interpretation, guesstimate, translation, transliteration, compression, decompression, exegesis, deconstruction, memetic emission or absorption, catalysis, curtation, transmogrification, alteration or forgery of such sequences made by either your hardware, software or wetware, or by any intervening data communications channel, even if previously advised of such a possibility. Any actions you take based on whatever you saw, or think you saw, on this site are entirely your own responsibility, so there! This site is directed at reasonably mature people of any age and if you're not among them, life will be tough. Since all of the Internet's web pages are interlinked you will sooner than later come to what you may consider an ugly, silly, stupid, obscene or otherwise offensive site. Don't say I didn't warn you! No electrons, protons, neutrons, quarks or other sub-atomic particles, or agglomerations thereof, have been knowingly harmed in preparing this site. All quantum fields and/or state vectors related to this site may spontaneously collapse, decohere, and/or go all higgedly-piggedly as soon as you look at them, and I can't do anything about it. You may have some rights not detailed in this disclaimer but don't bet on it. Apply only to affected area. Do not use while sleeping, unconscious, or insufficiently caffeinated or oxygenated. For indoor or outdoor use only. Not suitable as a personal flotation device. An optional Internet connection is required. All models are over 0.568 gigaseconds of age or the local equivalent. Avoid contact with mucous membranes. Do not insert body parts into moving components. Keep out of children. Contents may settle during shipment or downloading. This disclaimer does not cover misuse, accident, extraterrestrial impact, war, alien abduction, hurricane, lightning, tornado, tsunami, volcanic eruption, earthquake, flood, and other Acts of God, Gods and/or Godesses, misuse, neglect, leaking batteries, unauthorized repair, damage from improper installation, broken antenna or marred cabinet, incorrect line voltage, missing or altered serial numbers, sonic boom vibrations, electromagnetic radiation from nuclear blasts, customer adjustment, missing or altered serial numbers, chemical reactions, electromagnetic radiation from nuclear blasts, sonic boom shock waves, customer adjustments that are not covered in this list, genetic drift, random neuronal firing, and incidents owing to airplane crash, ship sinking, motor vehicle accidents, leaky roof, broken glass, falling rocks, mud slides, forest fire, flying projectiles, or dropping the item. Many browsers look alike. Others don't. Use only in a well-ventilated area. May not work while immersed or submerged. Do not bend, fold, spindle, mutilate, clone, inflate, deflate, imbibe, or chew. Do not use while operating a motor vehicle, heavy equipment, airplane, hang glider, cellphone, or any powered device inserted into bodily orifices. If a rash, redness, irritation, or swelling develops, discontinue use. If condition persists, consult your physician. No user-serviceable parts inside. Articles are ribbed for your pleasure. Possible penalties for early withdrawal. Objects in browser may be closer than they appear, but don't count on it. One size fits all. Quantities are limited while supplies last. Not intended for highway use. To be used as a supplementary restraint system only. Contains a substantial amount of non-tobacco ingredients. Keep cool, process promptly. Remove child before folding. Lost ticket pays maximum rate. Do not use this website while sleeping or unconscious. Employees and their families and friends are not eligible. If any defects are discovered, do not attempt to fix them yourself, but return to an authorized service center. Not responsible for advice not taken. Disclaimer subject to change or stagnation without notice. May cause cirrhosis of the liver, inflammation of the brain, heart damage, pancreatic damage, kidney damage, spleen implosion or explosion, thyroid combustion, severe nasal hair growth, blindness, eruptia, pregnancy, infertility, fecal incontinence, impotence, loss of genitalia and/or hermaphroditism, hair loss, skin blemishes, bone deformity, throat cancer, ulcers, hangnails, bladder leakage, sores, scabs, elephantiasis, hepatitis, conjunctivitis, gingivitis, appendicitis, bronchitis, and/or athlete's foot. Your mileage may vary. All your disclaimer are belong to us. This supersedes all previous disclaimers. Reading a disclaimer like this all the way to the end may have caused irreversible but not necessarily malign changes to your neural whatchamacallits. Fnord. To have the secret second part of this disclaimer transmitted to you over a telepathic tight-beam channel (at 300 bauds nominal, odd parity), bury a signed non-disclosure agreement and exactly $1000 in consecutively numbered three-dollar bills in your backyard and stand by for further instructions.

Disclaimer to disclaimer:
1. Don't blame me. Most of the above was unabashedly cribbed from elsewhere on the web.
2. Disclaimer subject to change without notice.