Prepare for black swans Chancellor says

Ned Goodman speaks at an alumni event in Toronto.Nearly 100 Brock alumni and friends took part in a unique opportunity to hear one of Canada’s most significant business leaders speak about the world and Canadian economies — and offer a bit of investment advice.Brock’s esteemed Chancellor, Ned Goodman — president and CEO of Dundee Corporation and Ned Goodman Investment Counsel Ltd. — spoke at the Le Méridien King Edward in Toronto on March 14.He suggested some keys to success and strategies investors can employ during this volatile market. He also emphasized the importance of long-term investing.It is too difficult to plan for something when the market is so unpredictable and volatile, he said. His advice is to “prepare for the worst and hope for the best.”Goodman’s son, David Goodman, also spoke at the event. David Goodman is the president, director and CEO of DundeeWealth Inc. and a member of the Board of Trustees of Dundee REIT. It’s important to support your alma mater and give back, David Goodman said.Both Goodmans spoke of “black swans,” a reference to Nassim Taleb’s theories that the impact of rare events is huge and highly underrated. Taleb regards almost all major scientific discoveries, historical events, and artistic accomplishments as black swans — undirected and unpredicted. Black swan events have included the rise of the Internet, the personal computer, the First World War, the September 11 attacks and the 2008 market crash.Even though we can’t predict black swans, the Goodmans said, we must still be ready for them.After the formal presentation, Brock alumni and friends socialized and enjoyed complimentary hors d’oeuvres and cocktails. Corey Tyhurst, who graduated with a Bachelor of Business Economics in 2009, said Goodman is a great person to represent the University.“He’s smart with a great sense of humour,” he said. “And as he pointed out, if you listened to his investment advice last year, you would have made a nice return.”Goodman started investing in 1962 when he formed an investment club with a friend. The $7,000 he invested was the core of what became Dundee Wealth, which Scotiabank recently purchased for $3.2 billion.The third annual Chancellor’s Reception is scheduled for the spring of 2012. To attend future Brock events, ensure that your contact information is up-to-date by visiting read more