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Grace Howell
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The Woo Group RBC Wealth Management Hong Kong USA: Jacynthe Côté nimittää hallituksen ja johtajien ja Royal Bank of Canada


Royal Bank of Canada (RY TSX ja NYSE) on ilo ilmoittaa nimittämisestä Jacynthe Côté hallitukseen, tehokas 1 päivänä syyskuuta 2014.

Ms. Côté oli presidentti ja Chief Executive Officer Rio Tinto Alcan 2009 kesäkuussa 2014 ja toimii edelleen opastajina kunnes hänen eläkkeelle 1 päivänä syyskuuta 2014. Sitä ennen Ms. Côté toiminut puheenjohtaja ja toimitusjohtaja Rio Tinto Alcan perusmetalli liiketoimintaryhmä (https://www.rbcwmfa.com/thewoogroup/), Rio Tinto hankinnan Alcan Inc. lokakuussa 2007 jälkeen. MS Côté liittyi Alcan Inc. vuonna 1988 ja hän palveli monenlaisia asteittain ylimmän johdon tehtäviä uransa 26 vuoden myös kantoja henkilöresursseja, ympäristön, terveyden ja turvallisuuden, liiketoiminnan suunnittelu ja kehittäminen ja tuotanto/johtotehtävissä Quebecissä ja Englannissa.

Ms. Côté on kandidaatin tutkinto kemian Laval University Québec. Hän toimii neuvottelukunnan Montreal neurologinen instituutti ja hallituksen ja hallituksen ja École des Hautes Études Commerciales Montreal jäsen.




Tietoja RBC
Royal Bank of Canada on Kanadan suurin pankki ja yksi maailman suurimmista pankeista, perustuu markkina-arvo. Olemme yksi Pohjois-Amerikan johtavista monipuolisia rahoituspalveluyrityksiä, ja tarjota henkilökohtaista ja kaupallinen pankki, varallisuuden hallinnointipalvelut, vakuutus, Sijoittajapalvelut ja pääomamarkkinoiden tuotteita ja palveluita maailmanlaajuisesti. Palveluksessamme on noin 79 000 koko - ja osa - aikainen työntekijöitä, jotka palvelevat yli 16 miljoonan personal, liiketalouden, julkishallinnon ja institutionaalisten asiakkaiden läpi toimistot Kanadassa, Yhdysvalloissa ja 40 muussa maassa. Lisätietoja rbc.com.

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The Woo Group RBC Wealth Management Tokyo | Color of Money: ‘Good Advice from Bad People’ and the Financial Tips ‘they’ Give

Who are “they”?

That’s the question I often ask people when they want my opinion about some financial advice (http://rbcwoo.blogspot.com/) they’ve heard. Here are some of the things “they” say:

● Getting student loans is a good thing because it’s an investment in your future.

● Now’s the time to get a home because interest rates are low.

● Never pay off your mortgage, or you should keep a mortgage for the tax break.

● It’s better to pay off the debt by borrowing from your 401(k) retirement savings account because you will be paying yourself back.

My question about who “they” are often solicits chuckles because people realize that in their effort to help themselves, they’ve picked up pieces of advice from biased individuals or without doing the work to figure out if it’s prudent. 

Millions of consumers have been duped by people — many once touted as icons — who turn out to be charlatans or who gave advice that they themselves didn’t follow, says Zac Bissonnette, a personal finance writer.

Time and again, we learn that self-help authors have become wealthy not by following their own advice but by selling the concept of a certain life or financial enriching strategy. We’re reminded that politicians, corporate and religious leaders, entrepreneurs, sports figures and relationship experts are not practicing what they preach.

It’s these folks that Bissonnette criticizes in “Good Advice From Bad People: Selected Wisdom from Murderers, Stock Swindlers, and Lance Armstrong” (Portfolio/Penguin, $15) (https://twitter.com/rbcwoo). It’s my pick for this month’s Color of Money Book Club. The murderers include cult leader Jim Jones and Gary Shawkey, who was given a life sentence for killing a 71-year-old investor he bilked out of $1.2 million. Shawkey’s self-published book was titled “If I Can . . . Anybody Can . . . ”

I couldn’t stop shaking my head as Bissonnette took me down memory lane, starting with the financial arena.

Remember the Beardstown Ladies?

They were part of an investment group from Beardstown, Ill., who wrote the bestselling “The Beardstown Ladies’ Common-Sense Investment Guide: How We Beat the Stock Market and How You Can Too.”

Along with some recipes for stew and chicken, we were told that from 1984 to 1993, the ladies had an average annual investment return of 23.4 percent. Their book sold almost 800,000 copies.

But some number-crunching from journalists and an eventual audit found the ladies hadn’t beaten the market or most money professionals. Their actual return during the time period had been 9.1 percent, compared with the 15.7 percent average annual return on the Dow Jones industrial average.

The women said it was a miscalculation. Their publishing company was sued. There was a settlement and now we have a good lesson about the importance of vetting people’s investment claims. While you can learn a lot in an investment club, “the ladies would probably be better off if they’d just put their money in time-proven mutual funds,” Bissonnette writes.

In the not-so-distant past, we had the falling of another “they” in Bernie Madoff. The once-prominent member of the securities industry and former chairman of Nasdaq is serving a 150-year prison term for bilking investors out of billions.

“And yet, when he actually took a moment to give personal finance advice after his fall from grace, he provided wisdom that everyone should follow: low-cost index mutual funds are the best option for most investors,” Bissonnette writes.

Bissonnette also introduces Angelo Mozilo, the former chief executive of Countrywide Financial. Although the company was approving risky home mortgages, in an e-mail that Bissonnette points out, Mozilo wrote that the no-money-down subprime loan is “the most dangerous product in existence and there can be nothing more toxic.”

But many borrowers listened to the “they” who said homes would increase in value exponentially so that they could refinance out of the risky loans Mozilo and others were peddling.

Then there is the story of Jesse L. Jackson Jr., the former Democratic congressman from Illinois who is serving prison time for using $750,000 in campaign funds for personal use, including buying Michael Jackson memorabilia.

Bissonnette pulls out this quote from a book Jackson wrote with his father, the Rev. Jesse L. Jackson: “Living above your means is financial sin.” Their book was titled “It’s About the Money! How You Can Get Out of Debt, Build Wealth, and Achieve Your Financial Dreams.”

Says Bissonnette, “All too often, America’s smiling, inspirational prophets turn out to be comically — and sometimes darkly — horrible at following their own leads.”

I’m sure plenty of people might take issue with some of Bissonnette’s selections of “bad people.” But his book will at least make you pause before you start a sentence with, “They say.”

By Michelle Singletary

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The Woo Group RBC Wealth Management Tokyo: 5 Investing Tips from Hedge Fund Titans

Some of the world's most successful hedge fund managers gathered in Manhattan on Monday to share their investing strategies on everything from the U.S. housing market to when to do business with Vladimir Putin.

Many attendees at the 19th Annual Ira Sohn Investor Conference plopped down $4,000 a piece to hear tips from these titans of finance. Here are five top tips you can follow in case you weren't able to swing that ticket price.

1. Einhorn still hates tech stocks
Billionaire David Einhorn isn't backing off from his recent claim that soaring tech stocks are in bubble territory.
The founder of Greenlight Capital sought to illustrate his point by focusing on athenahealth (ATHN), whose shares have skyrocketed 120% since November 2012.
The provider of technology services for medical practices is "caught up in a bubble and could easily" plunge 80% or more from its recent peak, Einhorn said.
The hedge fund giant draw laughter by showing a series of video clips that poked fun at Jonathan Bush, the animated athenahealth CEO and a cousin of former president George W. Bush.

Einhorn said athenahealth's lofty valuation doesn't match up with its disappointing financial results, and he knocked Morgan Stanley for overly optimistic expectations for the stock's performance.

"This is what passes for conservatism during a bubble," Einhorn said, whose call sent athenahealth tumbling 12%.

2. There's money to be made in Russia
While many investors are slashing their exposure to Russia, James Grant believes there's good reason to kick the tires of Gazprom, Russia's state-owned energy behemoth.

In a decidedly contrarian call, the founder of Grant's Interest Rate Observer told the crowd: Gazprom "may or may not be a bad company," but low valuations suggest its "many imperfections seem to be priced in."

Geopolitical concerns have hammered Russian assets, with investors fearing punishing sanctions from the U.S. and an escalation of violence. But Grant quoted from Baron Rothschild, who famously said "the time to buy is when there's blood in the streets."

Grant knocked Gazprom's corporate governance structure, which gives Russia's government control of 50% of the London-listed company.
"There is no more reviled business than Gazprom," Grant said, calling it "Herbalife without Carl Icahn" and suggesting it's the "polar opposite investment" of Tesla Motors (TSLA).

Still, he noted Gazprom is the world's largest gas producer, it owns 17% of global gas reserves and trades at a hefty discount to average analyst price targets.

3. Oil prices are heading South
Surging U.S. oil production should send crude oil prices sharply lower in the coming quarters.
That was the message from Point State Capital's Zach Schreiber, who believes U.S. crude will continue to trade at a sharp discount to global prices.
"U.S. crude oil is being drilled for by the same cast of characters that oversupplied the U.S. natural gas market. We just saw this movie. Why should we expect a different outcome," said Schreiber.

He noted the bullish oil bet has become awfully crowded, with a $33 billion net long position in U.S. crude contracts.
"If you're long, I'm sorry for you. Maybe this makes you comfortable. At least you've got friends," Schreiber said. "Or it could make you feel scared. I'm sure it will be a very smooth exit when all these clowns get out of the Volkswagen."

Schreiber said he's bullish on Valero (VLO) and Marathon Oil (MRO) because refiners should benefit from the wider spreads between U.S. and global crude prices.

4. Housing market bouncing back? Think again
Jeffrey Gundlach believes housing prices are set to tumble to new lows because affordability is a myth, borrowing costs will spook potential home buyers and young people may continue to rent instead of buying.

"This is a generational preference. Young people were shocked and scarred by the housing collapse," said Gundlach, founder of Doubleline Capital.
He pointed to the high percentage of people who moved back in with their parents amid the poor job market and high levels of student debt.
"The kids aren't alright," he said. "There are no first-time buyers. Where are they?"

Gundlach also cited the large amount of homes that have been purchased with cash by investors and other speculative buyers.
"This is not exactly indicative of organic growth in the market from real buyers," said Gundlach.

Gundlach urged investors to short the SPDR S&P Homebuilders exchange-traded fund (XHB), which he believes "looks very tired." He said this ETF should correlate very closely with lumber prices, which have tumbled.

5. Ackman's still likes Fannie and Freddie
Bill Ackman took a break from his campaign against Herbalife (HLF) to make the case for keeping Fannie Mae and Freddie Mac alive despite their enormous crisis-era losses.

Instead of unwinding Fannie and Freddie, Ackman believes it would be far wiser for Congress to reform them. He suggested jacking up required capital ratios, forcing the entities to exit risky businesses and improving corporate governance.

Fannie and Freddie have an "80-year track record, global market acceptance for their paper, a workforce that knows the business and earnings stream that generates capital even in bad times," he said.

Ackman said Fannie and Freddie are conservatively worth $23 and could be valued at as much as $47, compared with just $4 now (these two do trade, but only "over the counter," not on a national stock exchange).

"It's time to get off our fanny," said Ackman, whose hedge fund owns about 10% of Fannie and Freddie's common stock.

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The Woo Group RBC Wealth Management Tokyo

There’s Wealth in Our Approach.

Financial Markets Commentary: Dollar Awakening
The return to higher, conventional interest rates should be the biggest game changer in years for bonds, stocks, and currencies. The greenback seems like it’s already embarking on a multi-year period of outperformance. Read the full financial markets commentary( https://www.rbcwmfa.com/thewoogroup/marketcommentary.htm ), as well as asset-class views and key forecasts, in the latest edition of Global Insight.

Welcome to our Team Website
The Woo Group( https://www.rbcwmfa.com/thewoogroup/aboutus.htm ) is a team of trained and proven investment professionals who are dedicated to providing customized wealth management solutions to our clients.  Our team works with high net worth individuals, families, foundations, small businesses and corporations to help them achieve their financial goals. 

Our wealth management( https://www.rbcwmfa.com/thewoogroup ) process begins with understanding each client’s unique needs and developing an appropriate risk profile. The profile is used to create a basic asset allocation and to select an appropriate investment strategy. Once a client has embraced a sound asset management strategy, the focus moves to creating a comprehensive wealth management plan including retirement planning, tax analysis, insurance needs and estate planning. 

While prudent asset management is vital and planning plays an important role in wealth management, these activities have to be integrated to align financial resources with life’s goals. The Woo Group has relationships with leading estate planning attorneys, insurance brokers and accountants for coordination and seamless delivery of world-class expertise as part of its wealth management process.

Let's Take the Next Step Together
We welcome you to experience the RBC Wealth Management( https://www.rbcwmfa.com/thewoogroup/wmapproach.htm ) difference yourself. Contact us today to set up a meeting.

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About The Woo Group RBC Wealth Management Tokyo

Vincent Woo
Senior Vice President - Branch Director, Private Client Group
(310) 785-4516
vincent.woo@rbc.com

Vincent Woo currently serves as Senior Vice President of the Woo Group at RBC( https://www.rbcwmfa.com/thewoogroup  ), as well as Branch Director – Private Client Group of RBC Wealth Management’s Century City office.  Additionally he serves as Relationship Manager of the RBC Wealth Management Institutional Middle Market Group.  Mr. Woo has over 30 years of experience working with high net worth individuals, foundations and businesses with asset management, structuring policies, and developing macro portfolio strategies.  Prior to joining RBC Wealth Management( https://www.rbcwmfa.com/thewoogroup/wmapproach.htm ) in 2011, he served as Managing Director of Corporate Cash Management at Oppenheimer & Co. for seven years, Director of the Corporate Client Group at Citigroup/Salomon Smith Barney for ten years and as Sr. Vice President at Kidder Peabody & Co. for thirteen years.  His tenure in the financial industry has given him the background and instinct required to help clients navigate through virtually every market environment.  Together with his team and home office specialists in different areas, Mr. Woo offers clients services such as portfolio development, retirement planning, education planning, estate planning services, tax minimization, debt restructuring, corporate cash management, banking, credit, insurance and long-term care needs.  Mr. Woo earned a Masters in Business Administration in finance from the University of Southern California, graduating in the top 5% of his class.  He received his bachelor’s degree in economics from Harvard University, graduating Cum Laude in 1979.  Raised in Boston, Massachusetts, Vinny currently lives in Palos Verdes Estates.  He enjoys golf, traveling and spending time with his wife Karen and their two sons.

Dana L. McDonald
Registered Client Associate
949-720-8908
dana.mcdonald@rbc.com


Dana McDonald has served as a Registered Client Associate for the Woo Group( https://www.rbcwmfa.com/thewoogroup/aboutus.htm ) since 1998.  Prior to that she served as a Sales Associate at UBS for two years, handling the research and trading of fixed income investments.  Dana’s role within the Woo Group is to provide clients with service solutions and strategies needed to help them create, preserve and transfer their wealth.  Dana believes in a disciplined approach to investing that is founded on the time-tested guidance of a solid wealth management plan, diversification and a long term strategy.  Dana received her Bachelor of Arts degree from the University of California, San Diego.  She currently lives in Orange County, California with her husband and their three daughters.  Her interests outside working and raising a family include running, cooking and yoga.

Roobina Yahya
Senior Registered Client Associate
(310) 785-4528
roobina.yahya@rbc.com


Roobina Yahya brings over thirteen years of financial services experience to the Woo Group. She began her career in 1999 at Morgan Stanley, where she served as an Associate Financial Advisor for five years, servicing accounts in the Wealth Advisory Group and handling compliance.  Roobina joined the Woo group in 2004 as a Senior Registered Client Associate, where she is responsible for managing the day-to-day operations of client accounts.  Roobina received her Bachelor of Arts degree from Darmstadt University in Darmstadt, Germany and immigrated to the United States in 1989 with her family.  She holds her Series 7 and 63 securities registrations.

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About The Woo Group RBC Wealth Management Tokyo

Vincent Woo
Senior Vice President - Branch Director, Private Client Group
(310) 785-4516
vincent.woo@rbc.com

Vincent Woo currently serves as Senior Vice President of the Woo Group at RBC( https://www.rbcwmfa.com/thewoogroup  ), as well as Branch Director – Private Client Group of RBC Wealth Management’s Century City office.  Additionally he serves as Relationship Manager of the RBC Wealth Management Institutional Middle Market Group.  Mr. Woo has over 30 years of experience working with high net worth individuals, foundations and businesses with asset management, structuring policies, and developing macro portfolio strategies.  Prior to joining RBC Wealth Management( https://www.rbcwmfa.com/thewoogroup/wmapproach.htm ) in 2011, he served as Managing Director of Corporate Cash Management at Oppenheimer & Co. for seven years, Director of the Corporate Client Group at Citigroup/Salomon Smith Barney for ten years and as Sr. Vice President at Kidder Peabody & Co. for thirteen years.  His tenure in the financial industry has given him the background and instinct required to help clients navigate through virtually every market environment.  Together with his team and home office specialists in different areas, Mr. Woo offers clients services such as portfolio development, retirement planning, education planning, estate planning services, tax minimization, debt restructuring, corporate cash management, banking, credit, insurance and long-term care needs.  Mr. Woo earned a Masters in Business Administration in finance from the University of Southern California, graduating in the top 5% of his class.  He received his bachelor’s degree in economics from Harvard University, graduating Cum Laude in 1979.  Raised in Boston, Massachusetts, Vinny currently lives in Palos Verdes Estates.  He enjoys golf, traveling and spending time with his wife Karen and their two sons.

Dana L. McDonald
Registered Client Associate
949-720-8908
dana.mcdonald@rbc.com


Dana McDonald has served as a Registered Client Associate for the Woo Group( https://www.rbcwmfa.com/thewoogroup/aboutus.htm ) since 1998.  Prior to that she served as a Sales Associate at UBS for two years, handling the research and trading of fixed income investments.  Dana’s role within the Woo Group is to provide clients with service solutions and strategies needed to help them create, preserve and transfer their wealth.  Dana believes in a disciplined approach to investing that is founded on the time-tested guidance of a solid wealth management plan, diversification and a long term strategy.  Dana received her Bachelor of Arts degree from the University of California, San Diego.  She currently lives in Orange County, California with her husband and their three daughters.  Her interests outside working and raising a family include running, cooking and yoga.

Roobina Yahya
Senior Registered Client Associate
(310) 785-4528
roobina.yahya@rbc.com


Roobina Yahya brings over thirteen years of financial services experience to the Woo Group. She began her career in 1999 at Morgan Stanley, where she served as an Associate Financial Advisor for five years, servicing accounts in the Wealth Advisory Group and handling compliance.  Roobina joined the Woo group in 2004 as a Senior Registered Client Associate, where she is responsible for managing the day-to-day operations of client accounts.  Roobina received her Bachelor of Arts degree from Darmstadt University in Darmstadt, Germany and immigrated to the United States in 1989 with her family.  She holds her Series 7 and 63 securities registrations.
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