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October Lives Up to its Rep
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Tag: investing
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The return of The Wealthy Barber – MoneySense
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Personal finance books rarely capture mass appeal, but author David Chilton managed it through the relatable, conversational lessons from the wealthy Mr. White to mild-mannered Roy in his Sarnia barber shop. The sequel, The Wealthy Barber Returns, took a different approach in its 2011 release. Instead of his original characters, Chilton doled out advice by sharing his personal perspectives on money.
Timeless money lessons, reimagined for a new generation
The updated 2025 version of The Wealthy Barber was released on November 4 exclusively in Indigo stores and independent bookshops across the country. It has been completely re-written to include new realities of Canadian wealth building, like the Home Buyer’s Plan, tax-free savings accounts (TFSAs), and first home savings accounts (FHSAs). These additional account choices, along with new investment vehicles and the high cost of living, make it even more difficult to decide how best to pay yourself first. This is what makes the re-write even more relevant for a new generation of Canadians.
I spoke with David Chilton about the new edition. He said his motivation was to address the challenges that young people face today, from rising costs to new financial products. “The original book didn’t include ETFs or index funds,” he noted, “which are now common investment tools in Canada.”
I read the original book as a teenager, and while many Baby Boomers and older Gen-Xers may wonder if this re-write is for them, it is probably not. But it is for their kids and grandkids. According to Chilton, it targets “young adults in their 20s, 30s, and 40s, emphasizing passive investment strategies and basic financial principles like keeping costs low and paying oneself first.”
The broad appeal of the original book is probably due to the humour and relatable storytelling that simplifies complex financial topics. This helps readers feel less intimidated and more empowered. So, if you consider yourself less financially literate, the lessons will be easy to digest.
“Pay yourself first” still matters most
Chilton highlights the high cost of living, particularly housing, as making it tough for young people today to commit to regular savings. There is also the pressure of social media to spend on things that may feel like necessities but are not.
Saving has to be a necessity too, however, before making other financial commitments. In fact, when I asked Chilton for his most timeless lesson that remains relevant today, “pay yourself first” topped his list. He also highlighted the chapter in the updated book on saving savvy, which provides tips for managing daily finances to make sure there is money to set aside for the future. After all, you cannot invest if you cannot save.
Chilton expressed frustration with how much young people spend on cars despite the challenges of home ownership and rising living costs. But he gives them credit for recognizing the benefits of low-cost investment strategies, with younger generations becoming more fee-sensitive and aware of the impact of investment fees on their retirement accumulation.
One of the key messages from The Wealthy Barber is to “save and invest 10 to 15 per cent of all you make by paying yourself first.” For those who remember the 1989 original but regret not taking that advice, the good news is that it is never too late. “The best time to plant an oak tree was 20 years ago,” writes Chilton. “The second-best time is now.”
From book to podcast, Chilton’s message stays relevant
The Wealthy Barber update touches on budgeting, investing, real estate, wills, and life insurance, among other topics. The result is a series of personal finance lessons weaved into a series of fables.
Chilton has complemented the book with his new The Wealthy Barber podcast, featuring Canadian personal finance voices. He notes that “it has become a top business podcast in Canada, without monetization, while focusing on providing valuable financial information to a wide audience.”
The concepts in the book are timeless messages that stand the test of time, but the update makes it even more relevant. The appeal of the Chilton brand is that he is prescriptive with his advice while being genuine in his intentions. In a world where many young people learn questionable financial lessons from biased finfluencers, The Wealthy Barber is as good a source as any to guide a young person on their path to real financial independence.
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Jason Heath, CFP
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A practical guide to Canadian REIT investing in 2025 – MoneySense
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The chart below compares total returns, which measure both price appreciation and reinvested dividends, across major Canadian and U.S. equity benchmarks since 2016.
While the S&P 500 and S&P/TSX 60 have surged higher, Canadian real estate investment trusts (REITs) have badly lagged. The gap hasn’t narrowed meaningfully either. Even with distributions reinvested, the S&P/TSX Capped REIT Index remains well below its pre-COVID highs, with little evidence of a sustained rebound.
I’m not a value investor by nature, nor a sector picker, but divergences like this give me pause. Canadian REITs may quietly represent one of the few asset classes that aren’t overvalued today—and could offer genuine recovery potential in the years ahead, especially as interest rates fall.
The irony is that many Canadians still see real estate as the path to financial independence after decades of soaring home prices, even with the recent downturn in major cities like Toronto. Yet few consider REITs, which do the same thing at scale, with diversification and liquidity that private property ownership can’t match, especially when packaged into an exchange-traded fund (ETF).
The ABCs of Canadian REIT investing
REITs have their own nuances that make them very different from regular stocks. You can’t analyze them using the same metrics you’d apply to a company like Dollarama. That’s because REITs are pass-through vehicles: they’re exempt from paying corporate income tax as long as they distribute most of their taxable income to unitholders.
Unlike operating companies that make money by selling products or services, REITs earn revenue primarily from rent. They own portfolios of income-producing real estate and pass that rental income on to investors through distributions, which are usually paid monthly and tend to be higher than the average dividend yield from stocks in other sectors.
Canadian REITs span a variety of sub-sectors, including:
- Office: properties leased to businesses and professional firms
- Retail: shopping centers and standalone stores
- Residential: apartment complexes and multi-family housing
- Industrial: warehouses, logistics hubs, and distribution centers
- Diversified: a mix of several categories above
Because of how REITs operate, you can’t value them using conventional measures like earnings per share (EPS) or price-to-earnings (P/E) ratios. In fact, those figures can be misleading on sites like Yahoo Finance or Google Finance. That’s because REITs use significant non-cash charges such as depreciation, which can artificially depress reported earnings even when cash flow is strong.
The key metric for REITs is funds from operations (FFO). FFO adjusts net income by adding back depreciation and amortization (which are non-cash expenses) and subtracting any gains or losses from property sales. In simple terms, FFO is a more accurate measure of a REIT’s true cash-generating ability.
Once you know the FFO, you can calculate price-to-FFO, the REIT equivalent of a price-to-earnings ratio. It tells you how expensive a REIT is relative to its cash flow. Comparing a REIT’s price-to-FFO to its own historical average and to peers within the same subsector (e.g., residential vs. residential) gives a much fairer sense of value.
FFO is also used to judge whether a REIT’s distribution is sustainable. Since REITs pay out most of their income, the payout ratio is typically based on the percentage of FFO, not earnings. A lower payout ratio suggests more cushion to maintain distributions through economic downturns.
Supporting FFO is the occupancy rate, which measures how much of a REIT’s property portfolio is currently leased. It’s usually reported quarterly and varies by sector. As of late 2025, occupancy remains strongest in residential REITs, driven by housing demand, while office REITs continue to face pressure from remote work trends. Generally, you want to see occupancy of 95% or higher.
Another useful valuation tool is net asset value (NAV) per unit, which estimates the fair value of a REIT’s underlying real estate after liabilities. NAV divides the total appraised property value minus debt by the number of outstanding share units. The market price of a REIT can trade at a premium or discount to NAV—there’s no guarantee it will converge—but it’s still a good reality check for whether a REIT looks undervalued.
The best place to find these figures is in a REIT’s quarterly reports and audited financial filings. Some data providers, like ALREITs, compile these metrics for most Canadian-listed REITs.
Personally, I prefer REIT ETFs over picking individual REITs. Valuing REITs properly requires a working knowledge of specialized metrics. And while each REIT is diversified internally, most still focus on one property type or region. A REIT ETF spreads that exposure across multiple sectors and issuers, averaging out risks and simplifying portfolio management.
In Canada, REIT ETFs generally fall into two camps: passive index trackers and actively managed funds. Each has its strengths, and I’ll walk through some of the more notable examples in both categories, along with their pros and cons.
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Tony Dong, MSc, CETF
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Stock news for investors: Air Canada Q3 profit plunges to as strike weighs on results – MoneySense
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The Montreal-based airline says operating revenues during the quarter came in at $5.77 billion, falling around 5% from $6.1 billion during the third quarter last year.
Results for the three-month period ended Sept. 30 include the three-day work stoppage by more than 10,000 flight attendants in August that shut down operations and caused more than 3,000 flight cancellations.
Air Canada CEO Michael Rousseau says the latest results met the company’s revised estimate that was lowered to adjust for the labour disruption that occurred during the peak of the summer season. In September, Air Canada lowered its full-year guidance while estimating the cost of the strike at $375 million.
Source Google Fortis reports $409-million third-quarter profit, raises dividend
Fortis Inc. (TSX:FTS)
Numbers for its third quarter of 2025:
- Profit: $409 million (down from $420 million a year ago)
- Revenue: $2.94 billion (up from $2.77 billion)
Fortis Inc. raised its dividend as it reported a third-quarter profit of $409 million. The power utility says it will now pay a quarterly dividend of 64 cents per share, up from 61.5 cents per share.
The increased payment to shareholders came as Fortis says its third-quarter profit amounted to 81 cents per share, down from $420 million or 85 cents per share in the same quarter last year. On an adjusted basis, the company says it earned 87 cents per share in its latest quarter, up from 85 cents per share a year ago.
Revenue for the quarter totalled $2.94 billion, up from $2.77 billion in the same quarter last year.
In its outlook, Fortis announced a new five-year capital plan for 2026-2030 that totals $28.8 billion, an increase of $2.8 billion compared with its previous five-year plan.
Source Google Thomson Reuters reports third-quarter profit and revenue up from year ago
Thomson Reuters Corp. (TSX:TRI)
Numbers for its third quarter of 2025:
- Profit: $423 million (up from $301 million a year ago)
- Revenue: $1.78 billion (up from $1.72 billion)
Thomson Reuters Corp. reported a profit of US$423 million in its latest quarter, up from US$301 million in the same period a year earlier, as its revenue rose 3%. The company, which keeps its books in U.S. dollars, says the profit amounted to 94 cents US per diluted share for the quarter ended Sept. 30, up from 67 cents US per diluted share in the same quarter last year.
Revenue totalled US$1.78 billion, up from US$1.72 billion a year ago. On an adjusted basis, Thomson Reuters says it earned 85 cents US per share, up from an adjusted profit of 80 cents US per share in the same quarter last year.
In September, the company acquired Additive AI Inc., a U.S.-based specialist in AI-powered tax document processing for tax and accounting professionals. The company also sold its remaining minority interest in the Elite business, a provider of financial practice management solutions to law firms.
Source Google Suncor reports decline in third-quarter profits, record production
Suncor Energy Inc. (TSX:SU)
Numbers for its third quarter of 2025:
- Profit: $1.62 billion (down from $2.02 billion a year ago)
- Revenue: $6.17 billion (down from $6.32 billion)
Oilsands giant Suncor Energy Inc. has reported a decline in third-quarter profits amid weak oil prices, while production and refinery throughput hit new records. Net earnings were $1.62 billion during the three months ended Sept. 30, down from $2.02 billion a year earlier. The profit amounted to $1.34 per share compared to $1.59 per share.
Operating revenues net of royalties were $6.17 billion, down from $6.32 billion during the same 2024 quarter.
Total upstream production in the quarter was 870,000 barrels of oil equivalent per day, up from 828,600 boe/d. Suncor’s refineries processed 491,700 barrels per day, an increase from 487,600 barrels in the year-ago quarter.
“Our people continue to deliver shareholder value with a culture that every barrel and every dollar matters,” CEO Rich Kruger said in a news release Tuesday. “Underpinned by our integrated business model, we are elevating overall performance and generating higher, more reliable and more ratable free cash flow with less volatility and dependence on the external business environment.”
Also Tuesday, Suncor announced it will raise its quarterly dividend by 5% to 60 cents per share.
Source Google Uranium miner Cameco raises annual dividend, reports small Q3 loss
Cameco (TSX:CCO)
Numbers for its third quarter of 2025:
- Loss: $158,000 (down from profit of $7.4 million a year ago)
- Revenue: $614.6 million (down from $720.6 million)
Cameco raised its dividend and reported a small net loss in its most recent quarter. The uranium miner says it will pay an annual dividend of 24 cents per share, up from 16 cents. The increased payment to shareholders came as Cameco posted a net loss of $158,000 or zero cents per diluted share for the quarter ended Sept. 30 compared with a profit of $7.4 million or two cents per diluted share a year earlier.
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The Canadian Press
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Canadians to see lower fees and simpler account transfers – MoneySense
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“We will introduce measures to enhance competition across the economy—starting with the financial and telecommunications sectors,” said Finance Minister François-Philippe Champagne in the prepared text of his budget speech.
Fintech challengers gain ground against Canada’s big banks
The moves should offer a boost to fintech companies looking to challenge the dominance of Canada’s big banks, which hold a commanding share of the market. Several companies have been working to offer alternatives.
Questrade Financial Group, best known for its online trading platform, said this week that it has secured regulatory approval to launch Questbank. Meanwhile, Wealthsimple, which has been expanding its offerings to include chequing accounts, credit cards, and mortgages, said recently its assets under administration have grown to more than $100 billion.
Michael Katchen, head of Wealthsimple, said the budget delivered many wins for Canadians, including the plan to ban transfer fees. “By standing up for ordinary investors and removing this barrier to choice, the government is taking exactly the kind of bold action we need to unlock real competition in financial services,” he said in a statement.
Bank of Canada senior deputy governor Carolyn Rogers made the case for more competition in the banking sector in a speech last month. She said the concentration of Canada’s banking sector is often cited as one of the main factors contributing to its stability, however, she added that many argue that this level of concentration has clear negative impacts on productivity, innovation, capital allocation, cost, and consumer choice.
The best online banks and credit unions in Canada
Ottawa advances open banking to boost competition
The Canadian Bankers Association said in a statement that Canada has a highly competitive financial services sector with a large number of competitors and product offerings across Canada.
Spokeswoman Nathalie Bergeron said the CBA looks forward to working with the government as it engages with industry on its budget initiatives. Among them is moving forward on an open banking framework that could see consumers take more control over their own financial data, making it easier to switch banks.
While open banking is yet to launch in Canada, the government has promised in the budget to expand it further by mid-2027 to allow the sending of payments through the system. And to make the system a reality, the federal government said it is shifting responsibility for implementation of open banking to the Bank of Canada, from the Financial Consumer Agency of Canada.
Adriana Vega, head of industry group Fintechs Canada, said in a statement the government had delivered a bold and clear path forward for the sector. “The financial sector is the heart of any modern economy,” said Vega. “That’s why we are thrilled that the government has made it a key focus as a means to make life more affordable for Canadians and boost productivity.”
New measures seek lower fees and faster deposits
Also in the budget Tuesday, the government said it will review fees charged by banks and other federally regulated financial institutions, including Interac e-transfer and ATM fees.
The government said it will also work with banks to bring more transparency to fees around sending money abroad.
The budget will also change the Bank Act to increase the amount immediately available when someone deposits a cheque to $150 from $100 and look to reduce the number of days banks may hold deposited cheque funds before releasing them.
The changes in the financial sector come after Canadians already saw a cut to the income tax rate for the lowest bracket that came into effect on July 1. The tax cut is expected to mean savings of up to $420 per person a year in 2026.
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The Canadian Press
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Most Canadians feel confident about affording life milestones—but many are still putting them off – MoneySense
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But long-term confidence doesn’t mean that Canadians are untouched by the current economic environment. While 68% said they’re confident they’ll ultimately meet their milestones, over half (51%) said that they’re currently putting off at least one major financial goal.
How can Canadians make sure that they hit the milestones they’re planning for? FP Canada’s survey highlights a huge confidence gap between those who currently work with a financial planner and those who don’t. Of those working with a financial planner, 79% say they’re confident about their goals, compared with just 59% of those without professional guidance.
Laura Bishop, Qualified Associate Financial Planner (QAFP) at IG Wealth Management, says that financial planners can help Canadians of all ages and income levels prepare for life milestones with the help of an expert who knows the market in and out. “It’s not just for the wealthy,” she says. “It’s for anyone who wants to make intentional decisions about their money.”
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The biggest challenges to Canadians’ financial plans come from daily life
Among the most significant challenges Canadians said they face when planning for life milestones include paying off debt (31%) and general economic uncertainty (35%).
But the biggest challenge of all? For 41% of Canadians, not enough is left over once their necessary expenses are paid. For survey respondents aged 35-54, nearly half (48%) named this as their primary challenge.
In other words, it’s not just the big swoops and dips of economic uncertainty, or the individual burden of debt, that’s putting a pause on some Canadians’ financial confidence. For many Canadians, daily life is too expensive to make steps toward big financial plans right now.
The generational planning split: Travel comes first for Gen Z
The three most common life milestones that Canadians are saving for today include retirement or semi-retirement (50%), travel (42%), and buying a home (19%). But for younger Canadians, travel takes top priority, while more traditional goals like retirement and homeownership are taking a back seat.
These are the top milestones for Canadians aged 18-34:
- 43% are saving for travel
- 38% are saving to buy a home
- 34% are saving for retirement
Compare those with the top milestones for the 35-54 age group:
- 61% are saving for retirement
- 47% are saving for travel
- 25% are saving for their children’s education
For both age groups, travel is a major financial priority, even beating out goals like retirement, homeownership, and education.
Best savings accounts in Canada
Find the best and most up-to-date savings rates in Canada using our comparison tool
A spending mindset
According to Bishop, Canadians’ love of travel isn’t just a coincidence. She links it to the COVID-19 pandemic, noting that since 2020 many Canadians have shifted away from just focusing on long-term savings goals to include short-term spending in their financial priorities.
“Since COVID,” she says, “a lot more people are looking at living their best life.”
“It’s about clarity”: How working with a financial planner can build confidence around money
Bishop doesn’t want Canadians to put off working with a financial planner out of a misplaced fear that they’ll lose control over their finances—or a belief that it’s only a service for the very wealthy.
Anyone can work with a financial planner, she says, and young people in particular can benefit from the financial education and insights they offer. “It’s not about giving up control; it’s about gaining clarity.”
For Bishop, the job of a financial planner is about more than expertise in markets or investment strategies. “Money is an emotional conversation,” she says. Many people, especially those who don’t feel confident about their financial goals, don’t tell even their closest friends about their financial situation—but Bishop has these honest, open conversations every day with her clients.
“A good planner will help clarify and simplify complex decisions,” Bishop says. “A great planner will align those decisions with your priorities, your goals, and a personalized plan for you.”
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R.E. Hawley
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Canadian stablecoins push ahead amid growing regulatory calls – MoneySense
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There have been increasing calls to simplify the rules to make it easier to launch Canadian-dollar linked stablecoins, and stem the potential outflow of capital from the country. “At a minimum, from a sovereignty perspective, Canadians should want a Canadian stablecoin,” said Didier Lavallée, chief executive of digital assets company Tetra Digital Group.
U.S. stablecoin dominance puts pressure on Canada
Concerns have risen since the United States passed legislation this past summer that establishes clear rules around the sector, and further entrenched U.S.-dollar dominance in the space that touts faster and cheaper money transfers.
Because stablecoins are meant to reflect the value of conventional currencies, issuers need to buy hard assets like dollars to back them up. No Canadian-dollar pegged stablecoins means more money flowing out of Canada, and into U.S. dollars and U.S. government bonds.
“Canada should also weigh the merits of federal stablecoin regulation,” said Ron Morrow, executive director of payments at the Bank of Canada, in a September speech.
His former colleague Timothy Lane, who stepped down as deputy governor in 2022, was a little more blunt in an October report for the Global Risk Institute. “Stablecoins are becoming too important to be ignored,” said Lane. “There is now an increasing sense of urgency about establishing a coherent framework for regulating stablecoins in Canada.”
Peter Routledge, head of Canada’s banking regulator, has also said he’s worried about the fast moving space and will be watching the budget closely on Nov. 4, while John Ruffolo, managing partner at Maverix Private Equity, has been one of the most outspoken in the need to respond.
One of Ruffolo’s biggest worries is that some people and businesses could start to leave money in the stablecoin sphere, rather than in bank deposits. That’s already how stablecoins first gained traction: as a stable place for crypto-traders to park money between bets, without having to exchange it back into conventional currencies.
Given banks use deposits as an anchor for lending, he’s warned that even if 5% of Canadian bank deposits, or some $135 billion, went into U.S. stablecoins, it would have a knock-on effect of erasing as much as $675 billion in domestic lending capacity.
Private sector leads Canada’s stablecoin push
The rising calls have increased expectations of some movement from the federal government, but given how slowly past promises like open banking have actually rolled out, some companies like Tetra aren’t waiting around for change before pushing ahead with their own stablecoins. “Financial innovation in this country takes quite a long time,” said Lavallée.
Because Tetra is already registered as a Canadian trust company, Lavallée sees an easier road than others to getting regulatory approval through the current system. Tetra’s efforts have also had a boost from major backers like Wealthsimple, National Bank, ATB Financial, and Shopify, which chipped in on a $10 million financing to help ready a stablecoin for release aimed at early next year.
The best crypto platforms and apps
We’ve ranked the best crypto exchanges in Canada.
Elsewhere, Transactix Financial Inc. announced plans in May to move forward on its own token, and just last week Loon Technology Inc. announced it had raised $3 million to get its own Canadian-dollar stablecoin going.
The companies are all working to navigate an existing system that some, at least, aren’t so concerned about. “I think it’s working well,” said Grant Vingoe, head of the Ontario Securities Commission that’s taken a lead role in stablecoin oversight.
Uptake and impact of stablecoins still unclear
While the U.S. has used legislation, Canada’s approach to working with each issuer is more adaptable in the fast-moving crypto space, he said. “There’s a lot to be said for a more tailored, direct engagement approach, where you express your concerns and requirements … rather than try and codify it once and for all.”
So far that approach has yielded a single issuer, Circle, getting the blessing of regulators for its U.S. dollar-pegged stablecoin.
But Vingoe is also still skeptical about how much uptake there will actually be for stablecoins. “I think it’s still an open question whether stablecoins will be used extensively as a payment mechanism.” Improvements to the existing payment system could end up being better or more efficient, he said.
Some have pointed to central banks possibly issuing their own digital currencies, though the Bank of Canada has shelved work on such efforts.
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The Canadian Press
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Why investors are no longer rewarding earnings beats, according to Goldman Sachs
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Why investors are no longer rewarding earnings beats, according to Goldman Sachs
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Crypto investors lose billions in biggest-ever liquidation event – MoneySense
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As noted in the previous edition of this column, Bitcoin’s (BTC) strongest months have historically been October and November—up an average of 21.89% and 46.02%, respectively. In keeping with this promise, the crypto market started October strong as BTC ran up from about $114,000 (all figures in U.S. dollars unless otherwise specified) on October 1 to a new high of over $126,000 on October 7. Ethereum (ETH), XRP, Solana (SOL), Binance Coin (BNB), and other altcoins also saw impressive runaway gains in the first week of October.
But optimism was quickly, if only temporarily, sucked out of the crypto market as BTC, ETH, and other crypto prices saw a sharp decline from the 10th to the 17th of October before stabilizing.
As of 28th October, BTC is trading flat, between $113,000 and $115,000—close to the price it was at the beginning of the month.
The chart below shows the ups and downs of the crypto market over the past month, as represented by the Coinmarkcap (CMC) 20 Index, an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins.
Source: Coinmarketcap.com as of Oct. 28, 2025 Crypto’s biggest-ever liquidation event—$19.16 billion lost
In a 24-hour period from October 10 to 11, the cryptocurrency market experienced the biggest liquidation event in its history, triggered by Trump’s announcement of a possible 100% tariff on China, in addition to certain export controls.
A “liquidation event” is a short span of time in which traders are forced to close their leveraged crypto positions because of a sharp and sudden fall in prices.
On October 10–11, a sharp fall in prices forced traders with leveraged long positions in crypto assets to be liquidated because the market went against their bet. These liquidations caused the market to fall further, which, in-turn, triggered additional liquidations in a cascading effect. Here’s how bad it was:
- Over $19 billion of leveraged positions in the crypto market were liquidated
- Of that $19 billion, approximately $16.7 billion were long positions—bets that the market would move higher
- An estimated 1.6 million traders were were liquidated across crypto exchanges and platforms
During the fall in prices from October 7 to 17, BTC fell over 17% (from about $126,000 to just over $104,000) and ETH fell over 21% (from about $4,700 to about $3,700)
For historical context, here are the five largest liquidation events in crypto market history, according to coinglass.com
Ranking When Liquidation value Liquidated traders 1 October 2025 $19.16 billion 1.63 million 2 April 2021 $9.94 billion 1.03 million 3 May 2021 $9.01 billion 838,000 4 February 2021 $4.1 billion 427,000 5 September 2021 $3.65 billion 371,000 Source: Data from coinglass.com as of Oct. 28, 2025 Should the liquidation scare you?
Was the October liquidation event a long-term buying opportunity or a sign of more turbulence to come? There’s no way to know for sure, but here is one way to answer the question:
- Short term investors who were hoping for a bumper end-of-year rally may do well to be cautious because they don’t have time on their side to ride the ups and downs of the market without selling their positions in a panic.
- For long-term investors who believe that the price of BTC could reach $500,000 to $1,000,000 over the coming five to 10 years, the drop to $104,000 certainly seems like a good opportunity to buy the dip.
Canadian crypto exchange is fined $177 Canadian dollars by FINTRAC.
If you’re a crypto investor in Canada or are thinking about dipping your toes in the market, it pays to choose your crypto exchange carefully so you’re not being taken advantage of, falling prey to a scam, or supporting a company involved in illegal activity.
Canadian crypto exchange Cryptomus was fined a whopping CAD$177 million by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). FINTRAC found over a thousand instances where Cryptomus did not adequately report transactions and crypto wallets with ties to serious criminal activity. While the crypto market is a lot more mature and well regulated than it was just five years ago, it unfortunately remains a hotbed of financial scams and other criminal activity.
To protect themselves and to promote the use of crypto in Canada for legal purposes, Canadian crypto investors should know that crypto exchanges in Canada are regulated by the Canadian Securities Administrators (CSA), the regulatory body responsible for harmonizing securities regulation across the thirteen provinces and territories.
On its website, the CSA provides a list of crypto platforms authorized to do business with Canadians and those banned in Canada. Canadian crypto investors would be well advised to go through both lists before they decide which platform to use.
The best crypto platforms and apps
We’ve ranked the best crypto exchanges in Canada.
Crypto price swings are common
Cryptocurrencies including BTC, ETH, XRP, SOL, BNB and others are speculative and highly volatile assets subject to significant price movements. Even stablecoins, which are seemingly “safe,” may be risky if not adequately backed by real-world assets.
Investing in bitcoin and other crypto coins carries significant market, technological, and regulatory risks. Invest in crypto only if it aligns with your broader investment goals, time horizon, and risk profile, and always stay vigilant about crypto scams.
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Aditya Nain
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Stock news for investors: RBI earnings rise as Tim Hortons and international growth boost results – MoneySense
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The company, which keeps its books in U.S. dollars, says its net income attributable to common shareholders amounted to US$315 million or 96 cents US per diluted share for the quarter ended Sept. 30. The result compared with a profit of US$252 million or 79 cents US in the same quarter last year.
Revenue for the quarter totalled US$2.45 billion, up from US$2.29 billion a year ago.
On an adjusted basis, RBI says it earned US$1.03 per diluted share in its latest quarter, up from 93 cents US per diluted share in the same quarter last year.
In addition to Tim Hortons, RBI is the company behind the Burger King, Popeyes, and Firehouse Subs brands.
Parkland reports Q3 profit up from year ago as it prepares to close Sunoco deal
Parkland Corp. (TSX:PKI)
Numbers for its third quarter of 2025.
- Profit: $129 million (up from $91 million a year ago)
- Sales: $7.35 billion (up from $7.13 billion)
Parkland Corp. reported a third-quarter profit of $129 million, up from $91 million a year ago, as it prepared to complete its deal to be acquired by U.S. company Sunoco. The Calgary-based company says its profit amounted to 73 cents per diluted share for the quarter ended Sept. 30, up from 52 cents per diluted share a year earlier.
On an adjusted basis, Parkland says it earned $1.02 per diluted share in its latest quarter compared with an adjusted profit of 60 cents per diluted share in the same quarter last year.
Sales and operating revenue totalled $7.35 billion, up from $7.13 billion a year earlier.
Parkland owns the Ultramar, Chevron and Pioneer gas station chains as well as several other brands in 26 countries. It also runs a refinery in Burnaby, B.C., which supplies nearly one-third of the region’s domestically supplied gasoline and jet fuel.
The company says it expects to close its deal with Sunoco on Friday, subject to the satisfaction or waiver of customary closing conditions.
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Wealthsimple announces its raising up to $750M in new capital to accelerate growth
Wealthsimple Inc. says it is raising up to $750 million in capital in an effort to accelerate its growth. The equity raise will bring its valuation to $10 billion upon completion.
The equity round includes a $550 million primary offering and secondary offering of up to $200 million and is co-led by U.S.-based Dragoneer Investment Group and Singaporean sovereign wealth fund GIC.
Wealthsimple says the round will also include the Canada Pension Plan Investment Board, a new investor, along with existing investors Power Corporation of Canada, IGM Financial Inc. and others. Wealthsimple CEO Michael Katchen says in a press release that it was intentional in choosing partners committed to its long-term future.
Last week, Wealthsimple announced its assets under administration reached $100 billion, roughly doubling from a year ago.
Cameco shares soar after company and Brookfield sign nuclear reactor deal with U.S.
Shares of Cameco Corp. (TSX:CCO) rose more than 20 per cent after the company and Brookfield Asset Management Ltd. (TSX:BAM) announced a partnership agreement with the U.S. government to help build nuclear reactors in the United States.
Under the deal, the U.S. government will arrange financing and facilitate the permitting and approvals for at least US$80 billion worth of new Westinghouse nuclear reactors in the U.S. Brookfield and Cameco acquired Westinghouse in November 2023.
“We expect that the new build commitments from the U.S. will bolster broader confidence in the durable growth profile for nuclear power, and support increased demand for Westinghouse’s and Cameco’s products, services and technologies,” Cameco chief executive Tim Gitzel said in a statement. “This new partnership highlights the role that Westinghouse’s reactor technologies, based on fully designed, licensed and operating reactors, are expected to play in the planned expansion of nuclear capacity and diversification of global nuclear supply chains.”
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The Canadian Press
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Young Canadians sue CPP Investments over climate risks – MoneySense
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The four allege in a lawsuit filed in the Ontario Superior Court of Justice on Monday that the investment manager for the Canada Pension Plan is breaching its duty to invest in their best interest, and subjecting their contributions to undue risk of loss by its approach. “I do not want to be suing my pension manager, but I want to retire on a stable pension into a livable future,” said 20-year-old Aliya Hirji, one of the four plaintiffs, at a news conference in Toronto.
CPP faces lawsuit on fossil fuel ties
The lawsuit, filed with the support of Ecojustice and Goldblatt Partners LLP, claims CPP Investments is drastically underestimating the financial implications of climate change, as well as worsening its harms by continuing to invest in the expansion of fossil fuel production.
Karine Peloffy, a lawyer and sustainable finance lead at Ecojustice, said the lawsuit will be a legal test on how the fund should approach climate risks, given its obligations. “It is the first time in any court anywhere that future beneficiaries will argue that one of the largest investors is breaching its duty of intergenerational equity,” Peloffy said.
CPP Investments spokesman Michel Leduc said the fund will address the matter through the courts, if necessary, but that it has a rigorous approach to integrating climate risk as one of many material factors it considers. “Our focus remains steadfast on integrating climate-related considerations into our investment activity,” he said.
CPP drops net-zero target but defends approach
The lawsuit comes after CPP Investments quietly dropped its 2050 net-zero target for carbon emissions earlier this year, but Leduc said the change in language didn’t change the fund’s focus on climate change. He said climate risks are one of many risk areas the fund has to manage as it invests to maximize long-term investment returns without undue risk.
Leduc said the fund will push back against efforts that it sees as limiting its ability to meet those obligations. “An action against CPP Investments, and our efforts to maintain the sustainability of the Canada Pension Plan, is an action against the retirement security of 22 million Canadians,” Leduc said.
Travis Olson, another one of the plaintiffs, said Monday that he doesn’t believe it is meeting those obligations when managing investments the fund will one day rely on to help pay his benefits in retirement.
“My pension manager’s practices are incompatible with an economically stable, climate-safe future that my generation is relying on,” the 22-year-old Olson said. “I’m looking forward to the day our pension manager stops betting against the world my generation will inherit, and until they do so voluntarily, we’re asking the courts to step in and protect our contributions.”
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The Canadian Press
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Young Canadians sue CPP Investments over climate risks – MoneySense
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The four allege in a lawsuit filed in the Ontario Superior Court of Justice on Monday that the investment manager for the Canada Pension Plan is breaching its duty to invest in their best interest, and subjecting their contributions to undue risk of loss by its approach. “I do not want to be suing my pension manager, but I want to retire on a stable pension into a livable future,” said 20-year-old Aliya Hirji, one of the four plaintiffs, at a news conference in Toronto.
CPP faces lawsuit on fossil fuel ties
The lawsuit, filed with the support of Ecojustice and Goldblatt Partners LLP, claims CPP Investments is drastically underestimating the financial implications of climate change, as well as worsening its harms by continuing to invest in the expansion of fossil fuel production.
Karine Peloffy, a lawyer and sustainable finance lead at Ecojustice, said the lawsuit will be a legal test on how the fund should approach climate risks, given its obligations. “It is the first time in any court anywhere that future beneficiaries will argue that one of the largest investors is breaching its duty of intergenerational equity,” Peloffy said.
CPP Investments spokesman Michel Leduc said the fund will address the matter through the courts, if necessary, but that it has a rigorous approach to integrating climate risk as one of many material factors it considers. “Our focus remains steadfast on integrating climate-related considerations into our investment activity,” he said.
CPP drops net-zero target but defends approach
The lawsuit comes after CPP Investments quietly dropped its 2050 net-zero target for carbon emissions earlier this year, but Leduc said the change in language didn’t change the fund’s focus on climate change. He said climate risks are one of many risk areas the fund has to manage as it invests to maximize long-term investment returns without undue risk.
Leduc said the fund will push back against efforts that it sees as limiting its ability to meet those obligations. “An action against CPP Investments, and our efforts to maintain the sustainability of the Canada Pension Plan, is an action against the retirement security of 22 million Canadians,” Leduc said.
Travis Olson, another one of the plaintiffs, said Monday that he doesn’t believe it is meeting those obligations when managing investments the fund will one day rely on to help pay his benefits in retirement.
“My pension manager’s practices are incompatible with an economically stable, climate-safe future that my generation is relying on,” the 22-year-old Olson said. “I’m looking forward to the day our pension manager stops betting against the world my generation will inherit, and until they do so voluntarily, we’re asking the courts to step in and protect our contributions.”
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Read more news:
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The Canadian Press
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Why I Don’t Save for Retirement (and Neither Should You)
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The smartest financial move I ever made was to stop contributing to retirement savings. It may sound counterintuitive, even reckless. Dave Ramsey would have stress dreams about this article, but it may be time to get a divorce from your 401(k).
Here’s the truth: You actually don’t need millions to retire.
Those retirement calculators love to spit out impossible numbers: $3 million, $5 million, sometimes more. Numbers so big they make financial freedom feel like a five-decade slog.
Here’s the part they leave out. Most people following the “save for 40 years” script never hit those numbers. They keep working and waiting, but they’re aiming for a moving goalpost.
And this isn’t about only money. It’s about decades of your life you don’t get back.
The real shift isn’t stockpiling a fortune someday, but creating passive income now. You don’t need millions. You need cash flow. Changing your perspective on that changes everything.
Why the “retirement number” is a mirage
Here’s the dirty secret about those retirement calculators: They’re built on a foundation of mediocre returns.
Financial advisers love showing you diversified portfolios earning 2 percent on treasuries, 4 percent on bonds, maybe 8 percent to 10 percent on index funds if you’re lucky. Then they compound those small numbers over 40 years and tell you that’s the path to freedom.
But what if I told you I routinely invest in small businesses earning annual returns of 32 percent or more? Same dollars, radically different outcome.
The $3 million to $5 million magic number isn’t magic at all. It’s a moving target designed to keep you paying fees to Wall Street. Inflation pushes it higher. Lifestyle creep makes it bigger. Market volatility makes it unpredictable.
And here’s the part Wall Street doesn’t mention: The longer your money stays parked in their products, the more fees they collect. It’s not a conspiracy; it’s a business model. Their incentive is to keep your money locked up for decades.
What $120,000 taught me about real wealth
Early in my investing journey, I had a choice with my $120,000 of life savings. I could do what most people do: Put it into bonds or index funds, let it grow slowly, and maybe, decades later, it would turn into something meaningful. At 4 percent, that money would earn about $400 per month. I’d be waiting 30 years before I could really use it.
Instead, I bought a small business that was already earning $150,000 a year. I made a few simple changes, tightened operations, hired a virtual assistant, improved SEO, and that same business had grown by nearly 40 percent.
That one decision changed how I think about investing forever. Once you see cash flow hitting your bank account in real time, “waiting for retirement” at 6 percent earnings stops making sense. A few investments pay back your income entirely.
Since then, I’ve repeated and improved that model over and over, not just with my own capital but with investors I work with. We buy existing businesses selling for three to four times earnings, translating to annual returns of 32 percent or more. And unlike stocks or bonds, those returns don’t sit on a statement. They generate cash flow starting in year one.
Compress 40 years into five
Here’s the most important lesson I’ve learned: The difference between traditional investing and high return cash flow investing isn’t the return, it’s the time.
Traditional retirement thinking locks you into a 50-year plan. You keep saving, hoping compound interest will eventually catch up with your life goals. Cash flow flips that script. It lets you start living off your investments almost immediately.
I started this approach back in 2017 and bought, merged, and managed eight companies. After perfecting the process, I helped other investors and operators do the same. None of us waited for a magical retirement number. We built predictable income streams that paid our expenses, and with those returns financial freedom is available in under five years.
What surprises most people is this: You don’t need hundreds of businesses to create substantial passive income or diversification. A portfolio of eight to 10 uncorrelated small businesses can deliver 60 to 80 percent of the diversification benefits of thousands of stocks, without watering down returns.
The future of financial freedom
Building wealth isn’t about chasing a number. A net worth target is a someday goal, and “someday” often never comes.
Cash flow is about today. It’s about building predictable income that pays your bills and funds your lifestyle now. It’s about having the freedom to pursue meaningful work while you’re still young enough to make an impact.
Financial freedom isn’t a number on a screen. It’s a system that pays you month after month and gives you back the decades most people trade away.
The retirement lie costs you 30 years. Cash flow gives them back.
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Joseph Drups
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