Ever since the 2008 financial crisis threatened to topple the global monetary system, it’s been tough to stay positive. After all, we’ve been grappling with geopolitical curveballs, tepid economic growth, and a growing mistrust in the financial system on the part of investors. So, as we head into summer, I thought I’d focus on the positive. Amid the excellent insights and commentary we’ve included for you, there were three distinct signs of hope that jumped off the page for me.

Here they are, in no particular order:

1. Canadian debt levels aren’t all that bad – In “Where’s the Yield?” a typically bearish David Rosenberg offers up a less gloomy view of the debt that Canadians currently hold. While the debt-to-income ratio has continued to rise, the debt-to-assets ratio has actually been on the decline. And on the housing side, Rosenberg says he believes supply and demand remain balanced.

2. The private wealth management space is thriving – As author Salman Amin points out in “The Return of Client-Centric Service,” investable assets of the world’s high-net-worth individuals are predicted to hit a record US$55.8 trillion in 2015. Covering the 2014 Wealth Management Conference, Salman notes that private wealth management is recovering from the reputational damage done during the crisis and shares tips from the conference on how the advisor–client relationship is evolving for the better.

3. Canadian consumer brands are set to shine – Top portfolio managers shared their favourite stock picks at the 2014 Equity Conference, and two in particular caught my eye: Indigo and HBC. Kudos to two ubiquitous Canadian brands with solid prospects on the horizon and the potential to make investors happy. Read more in “Shining Stars.”

Of course, this issue also contains so much more, including ideas from some of the top thinkers in wealth management, pensions, and social media. We hope you find this issue both interesting and useful, and as usual, we welcome your thoughts, feedback, and suggestions for future topics that you think we should be covering in The Analyst.

In the meantime, happy summer!

IN MEMORIUM OF
JOHN B. (DON) PURDY, B. Com., M. Com., CFA
September 26, 1926 – April 26, 2014
PRESIDENT: Toronto Society of Financial Analysts (now CFA Society Toronto) 1965-1966