Jesse Mack Investment Advisory at Wellington-Altus Private Wealth

Jesse Mack Investment Advisory at Wellington-Altus Private Wealth Thorough, efficient, and effective, specializing in constructing straightforward, sensible solutions to seemingly complex financial problems.

Insightful market commentary on the evolving economic landscape and relationships. A lengthy but worthwhile read.
02/04/2026

Insightful market commentary on the evolving economic landscape and relationships. A lengthy but worthwhile read.

Historians are likely to regard Donald Trump’s presidency as a pivot—as significant as any in U.S. history comparable to the Jacksonian turn, the New Deal, or the Reagan Revolution. Yet Wall Street remains strangely somnolent, pricing in neither the durability nor the depth of what is unfolding....

Budget 2025: Deficits up, capital gains inclusion untouched, UHT scrapped. We cut through the noise—here are the changes...
11/05/2025

Budget 2025:

Deficits up, capital gains inclusion untouched, UHT scrapped. We cut through the noise—here are the changes most likely to hit your wallet. Read the summary →

On November 4, 2025, Finance Minister and National Revenue Minister François-Philippe Champagne tabled the much-anticipated 2025 Federal Budget (Budget 2025). With no spring budget earlier this year, Canadians have been eager for insights into the government’s fiscal priorities and economic direc...

Morgan Housel perfectly captures a powerful mindset shift: it's not just about accumulating money, it's about building y...
09/17/2025

Morgan Housel perfectly captures a powerful mindset shift: it's not just about accumulating money, it's about building your freedom. Every dollar saved is a step closer to independence and the life you truly want to live.

Morgan Housel, author of 'The Psychology of Money,' effectively highlights the importance of saving money. He points out...
08/20/2025

Morgan Housel, author of 'The Psychology of Money,' effectively highlights the importance of saving money. He points out that saving gives you freedom and creates a ton of choices in life, way more than just being able to buy things.

Do yourself a favour—spend 12 minutes listening to this. Your future self will thank you.

https://open.spotify.com/episode/5DLFP3nPiRKo400NayZvcM?si=fea176c46dff4a1c

The Morgan Housel Podcast · Episode

https://wellington-altus.ca/june-market-insights-the-new-nexus-of-power/
06/10/2025

https://wellington-altus.ca/june-market-insights-the-new-nexus-of-power/

For decades, the American establishment clung to the gospel of globalization, open markets, cheap goods, and the promise of shared prosperity. Yet beneath the surface, this grand experiment hollowed out the nation’s industrial heartland, eroded economic security, and fuelled a populist backlash th...

Year-End Personal Tax Tips for 2024:
12/13/2024

Year-End Personal Tax Tips for 2024:

Wellington-Altus was built by experienced independent advisors to better serve clients through a holistic approach to financial planning, investment and protection.

Comparing Taxable to Non-Taxable Investing PlansHow much do taxes affect my investment returns?Assumptions:-Initial inve...
10/29/2024

Comparing Taxable to Non-Taxable Investing Plans

How much do taxes affect my investment returns?

Assumptions:

-Initial investment: $10,000
-Annual return rate: 7%
-Investment period: 30 years
-Tax rate for taxable investment: 25%

The green line represents the non-taxable investment, while the red line represents the taxable investment. As you can see, the non-taxable investment grows significantly more over time due to the absence of taxes on the returns.

Make it a habit to consistently practice delaying gratification and saving money. Stick to these practices religiously.
10/02/2024

Make it a habit to consistently practice delaying gratification and saving money. Stick to these practices religiously.

Monday wisdom from Charlie Munger: Do your future self a favor and tilt the odds of success in your favor.
07/29/2024

Monday wisdom from Charlie Munger: Do your future self a favor and tilt the odds of success in your favor.

Book Recommendation:Getting There: A Book of MentorsBy Gillian Zoe Segal  BackgroundIn Getting There, author Gillian Zoe...
07/17/2024

Book Recommendation:

Getting There: A Book of Mentors

By Gillian Zoe Segal

Background

In Getting There, author Gillian Zoe Segal interviews 30 leaders from diverse fields, exploring the insights and traits that enabled them to overcome failure on their path to success. These interviews reveal the unique qualities that helped them navigate challenges and achieve their personal and professional goals.
Insights

The book features candid insights from notable figures such as Warren Buffett, Anderson Cooper, Michael Bloomberg, Jillian Michaels, Matthew Weiner (creator of Mad Men), and renowned composer Hans Zimmer, among others. A recurring theme is that the journey to success is rarely without setbacks. Instead, it is often long and risky, contradicting the popular narrative of overnight success often perpetuated by social media.

For instance, Matthew Weiner, the acclaimed screenwriter of Mad Men, experienced unemployment and even stopped writing before landing his first job in Hollywood at age 32. This was after Weiner’s university professor told him that he lacked any talent for writing at all. This highlights the myth of the overnight sensation; the reality is that leaders do not simply wake up one day as great thinkers, artists, or experts in their fields.

This concept, which Segal refers to as "selective inference," suggests that society tends to attribute success to arbitrary factors or sheer luck, rather than recognizing the sustained effort and resilience involved.

Opinion

Getting There is a collection of inspiring stories about overcoming obstacles and persevering after failure. If you think you’re the only one who has failed or is struggling, this book is sure to change your perspective. It underscores the idea that true success is about the size of the fight in you, not the size of the challenge.

The stories in this book illustrate what can be described as the "iceberg effect" of success. We often see only the visible tip—the final success or the end product—while the majority of the hard work and perseverance remain hidden beneath the surface and ignored. Few people look below the surface, where the answers lie.

The truth is that there are no shortcuts to your goals. While feel-good success stories sell newspapers and grab headlines, Getting There focuses and details on the less visible 90 percent of effort and determination that leads to those headline-worthy achievements.

In the Long Run, Stocks WinYour "balanced" or “conservative” portfolio, while seemingly appropriate based on the product...
05/30/2024

In the Long Run, Stocks Win

Your "balanced" or “conservative” portfolio, while seemingly appropriate based on the product of the flawed "risk tolerance" questionnaire you completed with your financial advisor, may not align optimally with your implicit goals.

The Illusion of “Safety”:

"Balanced" and "conservative" portfolios allocate a significant portion of assets to "safer" investments such as T-bills, bonds, and fixed-income securities. While this strategy aims to enhance safety and lower risk, it can also limit the long-term growth prospects of your portfolio due to the limited growth potential of these low-risk assets. While the goal of reducing price volatility and guarding against emotionally driven buy/sell decisions is commendable, overemphasizing safer assets to stabilize your portfolio may hinder your ability to capitalize on market opportunities and growth. In the long run, this could result in suboptimal returns, which may not align with an investor's retirement expectations.

The Forgotten Risk:

The impact of inflation on asset values is often overlooked and not fully explained. Inflation reduces the buying power of money, which means that $1 today will buy fewer goods in the future. While investing in assets such as stocks (referred to as "growth" or "equity") may seem risky in the short term, being too conservative or keeping money hidden can actually be more harmful in the long run. This graph illustrates the negative impact of keeping money idle. Therefore, investors face a constant risk of their capital losing its purchasing power over time.

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