Financial firms rarely fall into that underground business as people are asked to rate the companies they trust the most. Tim Hortons topped a recent poll of Canadians, led by Band-Aid in the US, Toyota in Japan, Google in India and Samsung in South Korea.
A couple of payment apps, PayPal and Alipay, were at the top of the list in Germany and China, respectively. Visa is ranked sixth in the US rankings. But in general, banks and investment companies are not in the game.
People are not emotionally attached to a bank or investment company in the way they approach the coffee and donut outlets they see all the time, or the phones and cars they use all the time. But we can still try to highlight the financial companies that people trust the most.
That’s the point of Carrick’s latest money survey. I want you to tell me which financial company you trust the most. This company can be in any aspect of finance – banking, financial planning, budgeting applications, investing, portfolio management, mutual funds, exchange-traded funds, or other products. The goal is to see which companies do a better job of making customers feel they can be trusted.
I will report the results in an upcoming newsletter. stay tuned
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Rob’s Personal Finance Reading List
Reality Check for the Millennial Lifestyle
A writer at The Atlantic uses a $50 Uber ride to show how the low prices for ride-sharing and food delivery ended right now.
Housing: a buyer’s market?
A look at how higher interest rates have calmed the housing frenzy and given buyers more leverage than they have in years. Now for a reality check, check out the wonders of the smart home, where you can control functions like lighting and temperature using smartphone apps and other devices.
Do not count the portfolio from 60 to 40
An American investment blogger reviews the worst years of portfolios with a collapse of 60 percent in stocks and 40 percent in bonds — in other words, the benchmarks-balanced portfolio. Bonds have been hit as hard as stocks this year, leading some investors to question whether the 60-40 mix is no longer appropriate. Turns out the balanced approach has seen the worst, and bounced back again.
cipher logic
Shaving foam… gel… shaving cream – I buy whichever is cheaper and never thought twice about it. But here’s some information that shaving cream, potentially the most expensive option, is the best. Me, I’m back to buying whatever is cheaper.
Ask Rob
s: Would it make sense for the Bank of Canada’s overnight rate to be adjusted periodically to equal the rate of inflation?
a: The overnight interest rate determines the direction of consumer borrowing. It is now at 1.50 percent, up from 0.25 at the start of the year. The interest rate rose overnight to cool inflation, which hit 6.8 per cent in April, and may rise. Matching the rate of the night with the rate of inflation would be very harsh medicine for the economy. Borrowers will be crushed – individuals and companies. The Bank of Canada’s goal now is to raise interest rates to deal with inflation while keeping the economy from sliding into recession. Even relatively moderate rate increases projected for 2022 make this task challenging.
Do you have a question for me? Send it my way. Sorry, I can’t answer everyone personally. Questions and answers are edited for length and clarity.
Today’s Financial Instrument
Best Banks for International Students, as selected by Savvy New Canadians Blog.
Money Free Zone
A tribute from Pitchfork to the great but overlooked musician, Terry Callier. Callier, a contemporary of Curtis Mayfield, combines jazz, jazz, and soul in a way that ranges from dreamy ambiance to songs that sound very appealing to me. I previously mentioned my favorite Callier song, Ordinary Joe. The album he featured on is the one featured on Pitchfork, Occasional Rain.
Watch this
Salman Ahmed, chief investment officer at Steadyhand Investment Funds, explains why Elon Musk mischaracterized socially responsible investing — known as ESG, for ESG — as a scam.
Who do I follow on Twitter
Dan GardinerThe voice of reason and logic in finance and other topics of interest.
What I was writing about
More Rob Carrick and financial coverage
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