Name: Travis Dowle
Company: Maxam Capital Management Ltd.
Q1.) What do you think is the single greatest risk to our economy in the next 5 years?
A1.) Trade wars and countries/economies of the world turning insular as opposed to open and free.
For Canada specifically, we need to capitalize on our resources (and not just our natural resources). Canada needs to encourage and support home-grown entrepreneurs who will build Canada’s economy, jobs, future!
Q2.) If you could tell your 20-year-old self one thing about money and or life what would it be?
A2.) Take good risks! Don’t be afraid to fail… everybody stumbles and fails at some point – and you’ll come out the other side more prepared for future challenges and opportunities.
Q3.) What do you think Canada’s economy needs from a Prime Minister in the next election?
A3.) Less virtue signalling and more getting the job done. I think Canada needs a strong leader who recognizes the reality that Canada is a trading nation – we need to appropriately capitalize on our plentiful resource base in an environmentally responsible manner, while simultaneously investing in the industries of the future.
Oh, and maybe keep an eye on the country’s finances! Beware the consequences of overly regulating, spending and borrowing.
Q4.) Do you think we will see a recession in North America in the next two years?
A4.) A recession is commonly defined as,
“a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.”
I think it’s quite possible, even likely, that we will experience a recession in the next couple of years. Recessions are a fact of life and we’re overdue. While recessions aren’t always accompanied by big stock market declines – they do always bring new opportunities. We’ll be looking to take advantage.
Q5.) If you had to bet on crypto currencies becoming the currency on the future, what are the odds you would give and why?
A5.) I think the odds of cryptocurrencies replacing fiat currencies altogether is somewhat low – but I do believe we’ll see their use and adoption increase. Drivers of adoption would be: an alternative, safe(?) and convenient means for transferring value, an alternate store of value (~gold), and a lack of trust in the financial system and in/of governments. I do know that central banks will do everything in their power to maintain the current fiat monetary system.
On a related note, Blockchain technologies, that cryptocurrencies are based on, will certainly have some very interesting and profound impacts on many industries in the years ahead (for example, financial services).
Q6.) What is something you would like to change in our Canadian society?
A6.) We should all be proud to be Canadian. I am. Canadian society is for the most part tolerant, just and, of course, polite! While I think we’re in pretty good shape as a people, I’d like to see us take more good risks as entrepreneurs.
Q7.) What are your words of advice about money that you think are relevant to everyone?
A7.) Develop a plan and start saving and investing right away – even if it is only a small amount. The power of compounding returns is a beautiful thing! And don’t sweat the volatility – embrace it by being greedy when others are fearful.