Episode #83: 2025 Capital Markets Review: A Banner Year for Investing Lessons

2025 Capital Markets Review: A Banner Year for Investing Lessons

By JAMES PARKYN & FRANÇOIS DOYON LA ROCHELLE

In this Episode, James Parkyn & François Doyon La Rochelle break down the key stock market statistics from 2025 and unpack the biggest lessons the year taught investors.

Or you can listen to this podcast using a streaming platform

DISCOVER THE PEACE OF MIND OF KNOWING YOUR INVESTMENTS AND WEALTH ARE IN GOOD HANDS BY CONTACTING PWL CAPITAL'S PARKYN-DOYON LA ROCHELLE TEAM IN MONTREAL TODAY.

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Read The Script:

1)   INTRODUCTION:

François Doyon La Rochelle:

You’re listening to Capital Topics, episode #83!

This is a monthly podcast about passive asset management and financial and tax planning ideas for the long-term investor.

Your hosts for this podcast are James Parkyn and me François Doyon La Rochelle, both portfolio managers with PWL Capital.

In today’s episode, we break down the key stock market statistics from 2025 and we unpack the biggest lessons the year taught investors.

Enjoy!

2)   2025 CAPITAL MARKETS REVIEW: A BANNER YEAR FOR INVESTING LESSONS:

François Doyon La Rochelle:

Before we start, since this is our first podcast of the year, I would like to wish our audience a happy, healthy, and prosperous year in 2026.

James Parkyn:

Yes indeed, François. Our best wishes for 2026 go out to all our listeners and their families, wishing them all the best of health and happiness.

François Doyon La Rochelle:

Now, as we usually do in the first episode of the year, we will look at what happened in the markets and the economy in 2025, a year that frankly defied expectations at almost every turn. If we had told our listeners at the start of the year that we would see sweeping tariffs, a record‑long U.S. government shutdown, sticky inflation, geopolitical turmoil, and a constant tug‑of‑war between optimism and fear, I think that our listeners would have predicted a very rough year for the stock markets.…Read More

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Links:

- Investor Psychology: How Behavioural Biases Can Sabotage Your Success — Capital Topics By James Parkyn – PWL Capital

- Our Best Advice of 2025 — Capital Topics By James Parkyn – PWL Capital

- Market Statistics | Parkyn-Doyon La Rochelle By Raymond Kerzérho – PWL Capital

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Episode #82: Investor Psychology: How Your Behavioral Biases Sabotage Your Long-Term Investment Plan

Investor Psychology: How Your Behavioral Biases Sabotage Your Long-Term Investment Plan

By JAMES PARKYN & FRANÇOIS DOYON LA ROCHELLE

In this Episode, James Parkyn & François Doyon La Rochelle discuss how investors’ behavioral biases sabotage their long-term investment plan.

Or you can listen to this podcast using a streaming platform

DISCOVER THE PEACE OF MIND OF KNOWING YOUR INVESTMENTS AND WEALTH ARE IN GOOD HANDS BY CONTACTING PWL CAPITAL'S PARKYN-DOYON LA ROCHELLE TEAM IN MONTREAL TODAY.

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Read The Script:

1)   INTRODUCTION:

François Doyon La Rochelle:

You’re listening to Capital Topics, episode #82!

This is a monthly podcast about passive asset management and financial and tax planning ideas for the long-term investor.

Your hosts for this podcast are James Parkyn and me François Doyon La Rochelle, both portfolio managers with PWL Capital.

In our podcast today we will discuss how your behavioral biases sabotage your long-term investment plan.

Enjoy!

2)   INVESTOR PSYCHOLOGY: HOW YOUR BEHAVIORAL BIASES SABOTAGE YOUR LONG-TERM INVESTMENT PLAN:

François Doyon La Rochelle:

So today, we will be tackling one of the most fascinating and perhaps the most frustrating parts of investing, which is investor psychology.

We have mentioned this regularly on the podcast and in many ways throughout the years, but the biggest risk to our portfolios isn’t the economy, interest rates, or price levels of the markets; most of the time, it’s us. Our behavioral biases shape how we save, how we invest, and they often lead us to make decisions that feel right in the moment, but that will hurt us in the long run…Read More

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Links:

- The Value of Good Financial Advice — Capital Topics By James Parkyn – PWL Capital

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Stay informed and inspired. Subscribe to our Bi-Weekly Newsletter for the latest podcasts, blogs, and James & François’ top reads from the past two weeks.

Episode #81: 2025 Year-End Tax Planning

2025 Year-End Tax Planning

By JAMES PARKYN & FRANÇOIS DOYON LA ROCHELLE

In this Episode, James Parkyn & François Doyon La Rochelle review Year-End Tax Planning strategies for investors in Capital Market Securities.

Or you can listen to this podcast using a streaming platform

DISCOVER THE PEACE OF MIND OF KNOWING YOUR INVESTMENTS AND WEALTH ARE IN GOOD HANDS BY CONTACTING PWL CAPITAL'S PARKYN-DOYON LA ROCHELLE TEAM IN MONTREAL TODAY.

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Read The Script:

1)   INTRODUCTION:

François Doyon La Rochelle:

You’re listening to Capital Topics, episode #81!

This is a monthly podcast about passive asset management and financial and tax planning ideas for the long-term investor.

Your hosts for this podcast are James Parkyn and me François Doyon La Rochelle, both portfolio managers with PWL Capital.

In our podcast today we will review Year-end Tax Planning Strategies for Investors in Capital Market Securities.

Enjoy!

2)   2025 YEAN-END TAX PLANNING:

François Doyon La Rochelle:

Well, it’s that time of the year again when we cover Year-end Tax Planning Strategies for Investors in Capital Market Securities. As our regular listeners know, this is an annual tradition on our Podcast to cover this topic at year's end.  We had originally planned to publish this Podcast in October, but the Liberal government decided to table its 2025 Budget on November 4th.  This is a major change, as historically, the Federal Government Budgets were presented in February or March, and the provincial Budgets followed shortly after.  So, James, what were the new measures announced in the recent Federal Budget for Investors?…Read More

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Links:

- 2025 Federal Budget By Jamie Golombek – CIBC

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Episode #80: Financial Bubbles – Investing Beyond the Fear of Bubbles

Financial Bubbles – Investing Beyond the Fear of Bubbles

By JAMES PARKYN & FRANÇOIS DOYON LA ROCHELLE

In this Episode, James Parkyn & François Doyon La Rochelle discuss financial market bubbles history and perspectives.

Or you can listen to this podcast using a streaming platform

DISCOVER THE PEACE OF MIND OF KNOWING YOUR INVESTMENTS AND WEALTH ARE IN GOOD HANDS BY CONTACTING PWL CAPITAL'S PARKYN-DOYON LA ROCHELLE TEAM IN MONTREAL TODAY.

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Read The Script:

1)   INTRODUCTION:

François Doyon La Rochelle:

You’re listening to Capital Topics, episode #80!

This is a monthly podcast about passive asset management and financial and tax planning ideas for the long-term investor.

Your hosts for this podcast are James Parkyn and me François Doyon La Rochelle, both portfolio managers with PWL Capital.

In this episode, we discuss financial market bubbles history and perspectives.

Enjoy!

2)   FINANCIAL BUBBLES - INVESTING BEYOND THE FEAR OF BUBBLES:

François Doyon La Rochelle:

I will start this off for our Listeners. 

Our recent Podcasts have addressed the History of Market Cycles, long-term capital Market Returns, and Asset Allocation, reviewing the weight of US Equities vs International.  We addressed how recent Capital Market returns have significantly exceeded Long Term Expected Returns, which may lead to lower future returns.   

The next related Topic is about Valuation because the markets are now at all-time highs.  The barrage of negative headlines is reaching a crescendo – this is September, historically the worst month for markets. We are seeing headlines flat out stating we are in a bubble.

At the end of the day, what is critical for Investors is how they will manage their emotions in this sea of crystal ball forecasting.  We have been consistent in telling our listeners that it’s imperative they tune out the noise in the financial media.  Although it is easier said than done. 

This leads us to today’s topic, which is about the history of Financial Market Bubbles, History, and perspectives.  So, James, where would you like to start?.…Read More

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Links:

- Are We Due for Another Financial Bubble? What History Teaches Us About Market Crashes - WSJ By William Goetzman – The Wall Street Journal (A subscription is needed to view this article)

- Bubble Investing: Learning from History By William Goetzmann – CFA Institute Research Foundation

- The Financial Bubble Delusion: Why Crash Fears Cost Investors More Than Crashes Themselves By Robin Powell - TEBI

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Episode #79: Are your expectation of Market returns too high?

Are your expectation of Market returns too high?

By JAMES PARKYN & FRANÇOIS DOYON LA ROCHELLE

In this Episode, James Parkyn & François Doyon La Rochelle welcome back PWL’s Senior Researcher, Raymond Kerzérho, to discuss expected returns.

Or you can listen to this podcast using a streaming platform

DISCOVER THE PEACE OF MIND OF KNOWING YOUR INVESTMENTS AND WEALTH ARE IN GOOD HANDS BY CONTACTING PWL CAPITAL'S PARKYN-DOYON LA ROCHELLE TEAM IN MONTREAL TODAY.

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Read The Script:

1)   INTRODUCTION:

François Doyon La Rochelle:

You’re listening to Capital Topics, episode #79!

This is a monthly podcast about passive asset management and financial and tax planning ideas for the long-term investor.

Your hosts for this podcast are James Parkyn and me François Doyon La Rochelle, both portfolio managers with PWL Capital.

In this episode, we will discuss expected returns with Raymond Kerzerho, PWL’s Senior Researcher.

Enjoy!

2)   ARE YOUR ESPECTION OF MARKET RETURNS TOO HGH:

François Doyon La Rochelle:

As I mentioned in my introduction, to help us tackle today’s topic, we have invited Raymond Kerzhéro, PWL’s Senior Researcher.

So, good morning, Ray. It’s great to have you back on the podcast.

Raymond Kerzérho:

Good morning, guys. Glad to be here.…Read More

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Links:

- What Should We Expect from Expected Returns? | PWL Capital by Raymond Kerzerho – PWL Capital
- Financial Planning Assumptions (Factor Tilted Portfolio) | PWL Capital by Raymond Kerzerho – PWL Capital

- Financial Planning Assumptions (Market Capitalization Weighted Portfolio) | PWL Capital by Raymond Kerzerho – PWL Capital

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Stay informed and inspired. Subscribe to our Bi-Weekly Newsletter for the latest podcasts, blogs, and James & François’ top reads from the past two weeks.