Wednesday, 28 December 2016

Trip Planning Made Easier

I invest a lot of time in planning our trips.

A few tools of the trade.

Google My Maps

This is a fabulous free service.  It has been a game changer.

It is a quick and easy way to record one's research quickly and then to plan efficacious travel routes.  Further, one can use the maps for navigation when on the road.

I use Google My Maps to:

  • mark the places I'd like to visit and add supplementary notes about those locations e.g. links to sources of detailed information, and personal comments
  • have separate map layers e.g. one for accommodation, one for historical sites, restaurants etc.  
  • share itineraries with family and friends and seek advice from those who know the areas (you can forward maps to selected individuals or share them with the world at large - your choice)
  • assist with navigation when I am underway
As I go about my research, I keep My Maps active in one window and then make additions to the map as I see fit.  

Once I am ready to travel, I download the map to my iPad and use the map off-line for navigation.  In Sicily, southern France, and the Carolinas, we found that the maps were superior to the on-board navigation systems in our rental cars.  

General Guidebooks

I generally ignore them.  For the most part, they are poorly written, characterless, and cover the obvious in light detail.  Besides they are heavy and bulky.  They are anachronisms in today's world of electronic communication. 

I do read travel accounts by artists and authors with a special love of features such as mills, barns, landscape history, ancient forests ... in short, things which take time to understand which, coupled with a love of subject, enable authors to produce something which is unique and worthwhile e.g. The Shepperd's Life: Dispatches from an Ancient Landscape by James Rebanks.  If ever you plan on visiting the Lake District in England, this is mandatory reading - in a small way it will help you to appreciate the grandeur of the place and the toil it takes to wrest a living from a sometimes unforgiving environment. 


Ah ... the wisdom of crowds.  This service is an excellent way to get a quick overview of the attractions in any area.  I use it to make a preliminary list of potential spots to visit.  It is far superior to most tourist guidebooks in that it is fast to use and always up to date.  

It will not provide detailed information and may miss items of special interest to people like me e.g. field patterns and evolution of landscapes, geomorphological features (my wife has learned to tolerate these interests ... the product of my training as a geographer).  


This is an excellent search engine which has opened new avenues of understanding for me.  Nothing beats the insights provided by academics who have dedicated lifetimes of study in an effort to understand cherished interests. In many instances, the search engine directs you to abstracts in learned journals; however, there is often a charge to access the full articles.  I have discovered a workaround to avoid the charges: simply Google the author and visit their web site.  The articles listed in Google Scholar are posted there and are frequently free of charge.  Even better, I have found that, when contacted, the authors are more than willing to provide advice on selected readings and places to visit/things to see.  Most people are genetically predisposed to share ... and that's why knowledge has advanced so far and so quickly in western society. 

Specialised Web Sites

Here is an extensive list of travel-related sites:

A few of my favourites include:

Guardian Travel - you can't go wrong with English newspaper travel sites 

I love slowtravel.  It is premised on the concept of remaining in one locale and savouring what it has to offer - this as opposed to scrambling about in an effort to "see it all" and, in the process, seeing very little.  In addition to trip reports and information on interesting accommodation, it provides a wealth of advice about the practicalities of travelling in various areas of the world.  

As to "foodie" websites - I ignore 'em.  One of the joys of travel is the process of discovery and serendipity.  The best way to find great food is to "ask".  

On a recent trip to Sicily, I was almost tearful over a dish of rabbit.  The process of discovery: while at a local bar, we asked the owner what wine he would serve to visiting relatives on a special occasion; we were amazed, and then asked him where he would take them to eat; we were directed down a dark alleyway to a pizza-style restaurant where I asked for the cook's speciality - what he was most proud to serve ... and then ... I had one of the best meals that I've ever eaten. 

Another story, again in Sicily: we were caught out late with no place to stay and one of our travelling companions went into a local house with rooms to rent; it was a beautiful modern house owned by a doctor and lawyer; once we settled in we asked for the best place to eat local food; Francesca directed us to the local supermarket and told us to say that she recommended their platter for four; she said that we could repair to the local bar and that the platter would be delivered there in short order .... and it was ... washed down with local wine, it was a meal not soon to be forgotten. And then there were the desserts in the local bar ... at times thoughts of not loosening one's belt are best left behind ... 



A Tip for Finding Accommodation - Just Ask

We learned this technique before the advent of the Internet.  When staying at small hotels or B&B's, we got into the habit of asking the owners for advice on where to stay at our next destination.  They were only too happy to oblige us and most often, they phoned ahead to make the reservations.  We usually ended up getting the best rooms and a hearty welcome, the result of becoming embedded into the "system".  

GPS Cameras

I always travel with a point and shoot compact camera with GPS capability in order to record the location of each shot.  It is then possible to download the shots to software such as iPhoto and see their locations on Google Maps. 

I don't have any reason to replace my five year old Panasonic Lumix, but if I were to buy a new machine, I'd look for the following traits:
  • a compact camera that could be carried easily in a shirt pocket 
  • a screen that is usable in bright sunlight 
  • a CMOS sensor capable of recording scenes in low light 
  • a zoom lens with an optical magnification of at least 4X's and a digital magnification in the same range (a combined magnification of 20x's is even better)
  • image stabilization
  • excellent lens capable of supporting poster-sized prints
The following characteristics are desirable:
  • shock proof
  • water proof
  • full range of manual adjustments to over-ride automatic settings for those special situations
  • HD video
While smart phones have advanced tremendously in recent years, they have yet to match the picture quality of dedicated cameras.  

Wednesday, 21 December 2016

New Blog - Living the Rich Life - always a voyage

I have started a new blog.  While I will continue to write about personal finances (including the management of a real life investment portfolio) an emphasis will be placed on the art of living life.

It will involve an eclectic range of topics ranging from travel to health, societal trends ... in short, things that make life interesting and techniques for negotiating the pathways of life.

The blog can be accessed here:

Living the Rich Life - always a voyage

Here's the headline photo:


This iconic sculpture on the Camino de Santiago de Compostela strides along the crest of the Alto Del Perdon, not far from Pamplona.  On the sculpture, there is an inscription:

donde se cruza el camino del viento con el de las estrellas
where the path of the wind crosses that of the stars


Monday, 19 December 2016

Portfolio Review Following Summer Travels: Northern Georgian Bay and the Yukon

There is more to life than investing.  It is a means to an end.

Northern Georgian Bay

Much of this summer was spent travelling around Northern Georgian Bay, one of the best fresh-water cruising areas in the world.  Within an hour from the marina where our boat is based, we can drop the anchor in a wilderness bay - the only neighbours are mink, beaver, Sandhill Cranes, the occasional black bear and the rocks and trees.  It is an idyllic place, but one where navigational hazards of various types can quickly bite the unprepared or unobservant.

I've gotten into the habit of taking early morning kayak trips while we are anchored out.  One morning, I got up close to a Sandhill Crane.  He took exception to my presence and squawked for several minutes, ducking behind rocks and trees, reappearing from time to time to check me out.  I heard a rustling in the reeds, a looked back to see this fisher not more than 10 metres away.  He showed no fear and I had the sense that, for a moment, he was appraising the situation from the viewpoint of one who occupies one of the top spots in his community.  It was a privilege to  have this experience - one which will be remembered for a long time to come.  Next year, I plan to "settle in" in that spot and do some calling to see if I can lure him in.  As you can see, these creatures are real killing machines: very athletic and well armed with sharp teeth and claws.


Paradiso is more or less a floating kayak platform.  It's perfect for our needs: no need for a generator while at rest due to energy efficient retro-fits and a solar panel mounted on the bimini which is also sufficient to power up the batteries for our electrically powered dinghy.  We can "stay out" for three weeks without needing to visit a dock for supplies and services.  

Here we are, nicely secured in an exceptionally sheltered location with fabulous views.  We stayed here almost a week and even though the westerlies blew at a sustained speed of 25 knots for two days, the boat moved only gently to some of the more powerful gusts.  And to think, we were approached only once by other people, a party of canoeists who got lost in the maze of islands in that part of The Bay.  


Yukon Canoe Trip

I've been in the habit of taking spring canoe trips each year.  This summer, I raised the idea of a trip to the Yukon with one of my canoe partners (annual trips since1978) and my son and his canoe buddy.  We decided on the Big Salmon River, a 350 km journey through pristine wilderness, far away from the distractions of roads and cell phone coverage.  

We flew from Toronto to Whitehorse via Vancouver and arrived on the same day at noon local time - time enough to buy needed supplies and equipment (at Toronto prices!). Next morning we took a four hour trip by road to the starting point on Quiet Lake ... and then we were on our own, a party of four canoeists with great expectations.  

The 11 day trip down this swift water river was wonderful: spectacular mountains framing both banks, thousands of spawning Chinook Salmon, many Bald Eagles, absolutely spotless campsites (I saw not one piece of litter), solitude (only one other party in view for a short time), easily navigated swifts (but one had to be quick to avoid sweepers in the upper sections of the river), the occasional trapper's cabin ...  







In this country, weather can be treacherous, but we were prepared with good equipment, including two exceptionally large tarpaulins which shrugged off the wind and rain and made life comfortable while we were on land.  

While we prefer to travel on our own, guided trips are readily available at fairly reasonable rates.  A shorter, easier river, the Teslin, is less demanding and is more suitable for less experienced canoeists.  It is an ideal first-time trip for people wishing to experience the Yukon wilderness, especially when accompanied by experienced wilderness guides.  

There are two main outfitters in Whitehorse.  Both offer guided trips in addition to equipment rentals:


Coast Mountain Sports is a great source for equipment.  Their prices are comparable those offered by Mountain Equipment Co-op.  

On the basis of our experience, I would recommend that you make sure to have the following equipment in your kit:
  • large tarpaulins and lots of line
  • heavy duty rain gear capable of keeping you dry in cold and rainy weather
  • a solar shower as the river is often much too cold for comfort
  • rubber boots - the best footwear 
  • a satellite-based emergency communications device: SPOT or InReach

Portfolio Review

  • Winter has arrived.  At this time of year, I generally undertake an extensive review of our investment portfolios.  This process has been described in earlier posts. 


As part of the review, I assess holdings in terms of other investments with the potential for higher returns.

I follow two basic approaches:

  • a "bottom up" approach using stock screeners to identify companies with appealing metrics 
  • a "top down" approach where strategic themes are used to focus research
The bulk of the work consists of refining my research and undertaking due diligence.  

A few random observations:
  • I read the financial press only very rarely
  • I read a few financial blogs but only to get an idea of the writers' thinking processes
  • I read a few hours each day with a focus on: international think tanks, trade/industry organizations, regional newspapers, resource geography, early stage investment companies
  • In an effort to learn more about specific investment themes, I develop a "systems model" to identify the roles of various actors.  I will spend months/years sifting through a variety of sources: trade publications, scientific articles, regional/local press, company web sites of various types, financial reports etc.  
  • Other than speculative activity (e.g. recent trading in precious metals mining companies) I rarely trade, preferring to hold companies for more than five years.  
  • I have a high tolerance for fluctuations in the price of stocks within the portfolio and only change holdings if I detect a fault in my investment thesis.  This can be the result of faulty research/assumptions, changing conditions (management turnover, fundamental long-term changes in the market/sector, inability of companies to adjust to change or otherwise maintain a competitive position etc).  I pay almost no attention to cyclical variations in the sector, and if anything, add to my position when buying opportunities arise.  
At present, I am focusing on a few themes:
  • agriculture
  • infrastructure
  • shipping
A Note About the Future of this Blog

I am thinking about writing a new blog to include a more expansive range of topics.  The outline is being refined.  In a few months, I'll post a few items.