Connect with us

Business

A New Alternative – Exchange Traded Funds. (ETF)

Published

on

BY: FAZAAD BACCHUS

Times are changing. The world is changing. The way we do things is also changing.

Once in 2001, I was driving to Orlando with some business colleagues, so we set out our course by studying the map we bought. We plotted our course from Miami airport to the hotel in Orlando and started our journey. Needless to say, we got lost many times along the way even within the first ten minutes of driving. Stopped at a gas station, got our bearings and quickly got lost again. A typical four-hour drive took us more than six hours to get there. When we arrived at the hotel we were tired and fatigued.

On our way back to Miami I thought of checking out the GPS system they gave us, which until that time never came out the glove compartment! I programmed it, started following the instructions and the rest is history. Today very few people if any, plot their trip using a map, no way, it’s a GPS that leads the way. At first, we were all skeptical of using it, just in case it takes us straight into the ocean or off the track altogether. But as the years have gone by, we have come to trust it more and more, it gives an exact time of arrival, tells you of traffic issues, provides alternative routes. Today you wouldn’t leave home without it.

Over the last twenty years or so, clients have invested typically using a financial advisor either at the bank or investment firm. This process involves a risk analysis and some form of goal setting before the desired investment is purchased. But the world is changing, and younger more computer savvy clients are looking for alternatives. They are looking to do their own investing with the expectation that they will make a better return by paying lower fees. ETF’s are becoming more and more popular like the GPS system and while I will not bore you with the technical details of one, it is important to have some idea of what it is.

A stock exchange trades in stocks of varying companies. There, an investor can buy the stocks of any publicly traded company on the stock exchange albeit through a trading platform. An Exchange Traded Fund trades like a common stock, it is a fund which owns underlying assets such as oil futures, foreign currency, and stocks of other companies. However, the main component is that it tracks an index and moves accordingly to the index, up or down. These price changes happen frequently and at any time during the day, quite unlike a mutual fund where the net asset value is determined at the close of the day. So, it’s much easier to trade and you can quickly realize a profit or a loss.

ETF’s are created by very large players in the market, TD being the first to develop this security. However, it was probably too early in the game and it didn’t gain rapid acceptance. Subsequently, BMO launched their own ETF’s and it’s becoming quite a hit with younger clients, mainly because of the lower fees associated with investing. It is passive investing as it tracks the index like the TSX etc, however, if you would like to do better than the index, which is quite possible, find an advisor who can guide you.

Fazaad writes for the finance column at the Toronto Caribbean Newspaper. As a qualified Financial Advisor, he has completed his Masters in Business Administration, earned the designation of a Financial Services Specialist and Life Underwriter Training Council Fellow. Having worked in the Finance Industry for the last 27 years he is passionate about managing clients investment. He writes to bring a level of awareness to our community and to bring financial help to those who need it.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Chibie Louis-Okoye – Unapologetically sharing the African experience

Published

on

By  Sydnee Walcott

In an industry where there are not too many people of colour, one empowered woman is taking the correct steps toward standing out. Chibie Louis-Okoye is a thought-provoking Nigerian Canadian film producer who has received many accolades throughout her career.

Born and raised in Nigeria, Louis-Okoye’s upbringing had its good and bad moments, but she was happy for the most part and provided with everything she needed. Her parents encouraged her and her siblings to go to school and take on a professional path that would lead to a career with a stable income and go on to have a family.

“My parents worked very hard to take us to the best schools they could take us to,” said Louis-Okoye, whose parents wanted both her and her siblings to become something great in the future. Louis-Okoye studied at the University of Windsor as an international student, where she received a Degree in Communication. Afterward, she went to Queen’s University, where she studied innovation and entrepreneurship.

Her inspiration to be a film producer came from wanting to take back the power to create worlds and stories that can influence pop culture and people’s perspectives on how they see things on subjects they don’t know. With a gap in the content of African stories, Louis-Okoye realized the industry needs producers and storytellers to help close the gap. “Producing is all about honing the business side of the creative,” said Louis-Okoye, whose goal is to centre the African diaspora on the world stage through her company COLO Studios.

What Louis-Okoye enjoys the most about producing is the transformation of raw ideas into materialized content.  Yes of course there are other elements of her work that she enjoys (hiring a team, and raising funds), but her heart remains with the creative process. She describes it as making a dream come true. “I believe a film is a tool for activism,” said Louis-Okoye. Activism, politics, spirituality, the monarchy, and the impact of colonialism are some of the thought-provoking content people can find in films and television series produced by Louis-Okoye.

Her latest film, KOFA, is inspired by how the world has moved on after kidnappings in Nigeria and surrounding areas. The film also focuses on how it remains precarious in Nigeria.  KOFA (Louis-Okoye’s favourite project to date) is a psychological thriller that deals with people being locked in a room and waking up nude with no memories.

From the beginning, the plot beckons the watcher to question every character, understand motive, and question what will happen next. With elements of betrayal and finger pointing the film keeps viewers intrigued as they watch the group try to figure out how they ended up where they were. Throughout their drama, a male character continuously enters the room and takes them out one by one. Scared for their lives, the group tries to piece together their memories.

Louis-Okoye loves those topics, because she feels the viewers can put themselves in the character’s shoes and feel their emotions and what’s at stake for them. She describes this as a human condition, because sometimes people may feel trapped. It may not feel like a physical trap in a room, but it can be a physical trap in a career they don’t love and are only doing for economic purposes. “People can feel trapped mentally as well.” Louis-Okoye shared.

KOFA won the Best Feature Film at the African International Film Festival, and received two African Magic Viewer Choice Awards nominations. The film’s trailer also received an award for the best trailer in the African region at the 2023 World Trailer Awards in Portugal.

Louis-Okoye’s current project is a television series called The Third Coming, and she’s having the time of her life on the project. The series centres around what can happen if colonialism and imperialism were to come back to Africa in the present and how that would look.

Louis-Okoye would like to see her career take her back to Africa, where she can continue to tell stories relatable to Africans and have the world look at things through that lens. She also wants to collaborate with others to help tell those stories and provide a technical process for creating a film and television series. She also wants to collaborate with the greats in Hollywood and take some of their lessons and experiences. Her dream is to have COLO Studios maintain its vision of centring the African experiences on the world stage.

As Africans living in the diaspora, we have a strong, and notable impact on this planet, and creatives like Louis-Okoye are the ones who will stamp our impact in the minds of people for generations to come.

Continue Reading

Business

Bridgette Daley

Published

on

By Simone J Smith

“There is the old way, and the new way. You have two choices: get into it, or get left behind.”

 Well now!

 The stage has been set for this edition’s Woman Empowered. Over the years, the Toronto Caribbean Newspaper has been sharing the stories of African-Caribbean Women; their struggles and their triumphs, and as we move into the future, it is time to evolve into a way of life that at one point, was only thought of as a movie script…

 The digital age, also known as the information age or the computer age, is a period in human history characterized by the widespread use and integration of digital technologies into everyday life.

 What exactly are we talking about here? Well, this includes the use of: computers, smartphones, the internet, and other digital technologies to communicate, access information, conduct business, and more. The digital age has brought about significant changes in the way we live, work, and interact with each other, and has had a profound impact on several aspects of society: education, healthcare, and entertainment are the three that come to mind.

 Here is where I bring in the importance of Bridgette Daley to the Caribbean Diaspora. She has tapped into the importance of over standing the digital age, and what it is going to bring.

 In her own words, Bridgette Daley is a “Socially Savvy Mission Driven Marketer!” She creates proven digital marketing and online advertising strategies for: small businesses, non-profit organizations and B corps. With her ever-evolving experience with A.I.,  Bridgette demonstrates to her clients how to effectively use AI and Automation in order to: connect with their most engaged fans, efficiently monetize their brands and own their audience data.

 As Chief Visionary Officer at b.Digital Consulting, Bridgette Daley has taken the time to deep dive into the digital unknown, and for good reason. Her experiences have shown her that if we as a people do not get “In the KNow,” the consequences could be displacing…

 I was born and raised in Kingston, Jamaica, and lived there until I was 15 years old. I am an Excelsior Graduate through and through; I attended both elementary and high school at Excelsior. I started high school when I was only 10 years old, finished high school at 16 years old, and followed it up with one year of college. This was a standard for all of us. In my family, the focus was always on education. “

This focus on education was nurtured in two ways: her dad taught her work ethic, and her mom demonstrated tenacity. Bridgette shared that her mom was heavy on education because she wasn’t able to go to school. This remained with Bridgette, and she continued to excel.

Then, Hurricane Gilbert hit.

“We lost everything, and what was most powerful about the experience was that we built it back together, as a community. It was about love, laughter and family. It was a big turning point in my life.”

 It was time to leave…  Bridgette left Jamaica in 1992 for Canada, Mississauga.

I was in Canada for a year living with my sister. My parents had separated, and my mom had left for America. My brothers left with her. They left before I finished high school, and this is why my sister brought me up. She gave me a way to transition until I had an opportunity to join my mom and brothers in America.

 I was never exposed to other cultures, and when I came to Canada, non-Black people would comment on my features a lot. I lived on a majority minority street, so I didn’t really feel the impact of racism in Canada.

 In America is when I was exposed to true racism. We were kicked out of a mall once because we were speaking patois, and the security guard thought we were swearing.”

At this point, Bridgette was around 17, 18 years old. She had always had a career ambition, and for her, it was the right time to pursue this ambition.

“I didn’t really know the system, and I wanted to go to school, but that takes money, so I had to get a job.

 I got a job as a part-time teller. To me this was a BIG deal, because bankers are prestigious in Jamaica. I researched the bank’s benefits, and I found out if I went to school and got a C, they would pay for school. I couldn’t believe how low the standard was so I did that. I went on to complete my degree in Business Management and Communication.

 The bank policy was if I got a degree, they would promote you. Interestingly enough, any position I applied for, I didn’t get it. I was told I walk around with a chip on my shoulder. I walked around with my head held high, and I don’t think they like that. I was not going to dim my light to make anyone feel comfortable.”

And so began Bridgette’s experience in the financial industry.

“I worked in retail for a while, but life was not happening in New York, so I moved to Florida. My goal was to become a Bank Manager. I had 1.94 in my bank account when I got my job at the Bank of America. They put me in the ghetto-banking centre, and we took that banking centre team to the top 5% of the banking industry. We called ourselves the Southwind Superstars.

 During the credit crisis of 2008, I discovered that the banks were making the most money from minorities. However, we were the 2nd least deposit base, but generated the most fees.”

She started off as  Banking Manager at the Bank of America, and moved on to becoming the VP; Sr. Business Continuity Specialist.

From there, she moved on to being SVP Regional Sales Leader/ Sr Branch Leader/Business Development at Bank United. She then became Director of Business Development for the Southeast Region (NC, SC, GA, FL, AL, MS, LA, TX) at the National Energy Improvement Fund LLC

“They took away my power to help my people, and this is one of the reasons why I had to leave Bank of America. I eventually went into another area of banking as a regional sales manager. After a couple years the same thing happened. I was making White men richer. My soul wasn’t being nourished.

 In  2017, I wanted to see how money was being made online. I realized I wanted to understand the in’s and out’s. It was like opening Pandora’s box.

 One piece of wisdom I would like to pass on is that it is not about knowing everything, but about being around people who know different things. This is how I met my business partner.”

Every time she heard no, she kept pushing. Now, Bridgette works with the government of Jamaica.

“I want the Caribbean community to truly understand that there is so much money to be made in the tech industry,” Bridgette tells me. “I figure, it is up to us to know better, so let me learn and share.

 We as Black women need to take up space. We need to own our power. Surround yourself with the right people, and stop letting perfection be the enemy of the good. Step out, and go toe to toe with everyone else.

 Faith it till you make it!”

Continue Reading

Technology

How Toronto’s Caribbean Community is Leading in Digital Innovation

Published

on

Toronto’s Caribbean community is making significant strides in the realm of digital innovation, reflecting a vibrant and dynamic force within the city’s tech sector. This burgeoning influence spans across various sectors, including technology incubation, digital education, and entrepreneurship, underscoring a profound impact on Toronto’s digital economy.

Fostering a Culture of Innovation

The Caribbean community in Toronto is actively contributing to a culture of innovation that is pivotal for the city’s future advancements. Through collaboration with local and international businesses, startups, and academic institutions, this community is part of the driving force behind Toronto’s position as a hub for innovation. The city is home to over 70 incubators, accelerators, and co-working spaces, offering programs that support startups in technology, manufacturing, food production, fashion, arts, and music.

Central to this ecosystem is the MaRS Centre, one of the world’s largest urban innovation hubs, which houses entrepreneurs building Canada’s next generation of growth companies. Toronto’s impressive tech industry, supported by giants like Microsoft, IBM, Cisco, Google, and Facebook, benefits from the diverse talents and innovative spirit of the Caribbean community​​.

Digital Education and Entrepreneurial Spirit

The Toronto Caribbean community’s commitment to digital education and entrepreneurship is evident through initiatives such as the Toronto Reference Library. This hub invites users of all ages and skill levels to explore digital creation, offering activities and workshops on topics like 3D printing, graphic novel book clubs, and crafting circles. Such programs are crucial for fostering a culture of lifelong learning and innovation, enabling community members to acquire and refine digital skills.

Contribution to the Digital Economy

In the rapidly evolving digital economy, Toronto’s Caribbean community is not just a participant but a trendsetter. This is evident in the diverse range of digital services thriving in the city, including sectors such as life sciences and healthcare. The community’s innovative spirit contributes significantly to the city’s standing as a leading North American tech hub, with a vibrant biotechnology cluster and a comprehensive network of hospitals, research institutes, business incubators, and venture capital organizations. Also, initiatives like the Caribbean Digital Summit and The LEGUP Wealth Symposium featuring leaders from Caribbean governments and the tech industry, exemplifies the community’s active engagement and leadership in digital transformation and governance on a broader scale​​.

The real-time table games in Canada exemplify the wide array of online services prospering under this innovative umbrella. This digital sector benefits from the technological advancements and entrepreneurial drive within the Caribbean community, illustrating the diverse impact on Toronto’s digital landscape.

Toronto’s Caribbean community is playing a pivotal role in shaping the city’s digital innovation landscape. Through a commitment to education, entrepreneurship, and collaboration, this vibrant community is contributing to Toronto’s reputation as a global hub for technology and innovation. The synergy between the Caribbean community and the broader tech ecosystem in Toronto is proof of the power of diversity in driving progress and creativity in the digital age.

Continue Reading

Trending