CBC Digital Archives

Garth Turner: mulling mutual funds

They tell you how to save your money and your financial future, what causes a recession and how you can survive it, where to invest your hard-earned cash, and perhaps more importantly where not to invest it. They are the money experts whose prognostications and analyses are echoed across the media. The CBC Digital Archives looks back at some of Canada's best-known financial forecasters

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How can you compare mutual funds to gold? Garth Turner says that's what people are doing in the investment marketplace, where mutual funds have become a popular commodity. "I think they have been marketed very heavily," Turner says, "and there may be a case for saying that so many people are getting into mutual funds for somewhat the same reason that people lined up to buy gold when it was at an historic high price."

But are mutual funds a good investment? In this CBC Radio clip, Turner cautiously admits that they've historically performed well. But he also warns that when buying mutual funds, you are essentially surrendering your right to make your own investment decisions.

• Garth Turner was born on March 14, 1949 in Woodstock, Ont.

• His carrer has involved numerous turns as a business journalist, broadcaster, author and politician. At the time of this 1986 interview he was business editor of The Toronto Sun.

• In 1988 he was elected Progressive Conservative member of Parliament for Halton-Peel, and became chairman of the consumer and corporate affairs committee.

• Turner ran for the party leadership in 1993 but placed fourth on the first ballot.
He was minister of national revenue in the brief Kim Campbell government, but lost his seat in the 1993 election when the PCs lost all but two seats.

• Turner returned to politics in 2006 and won a seat for Halton. But he was dismissed from the Conservative Party after criticising David Emerson's floor crossing to the Conservatives on his blog. He soon joined the Liberal Party at the invitation of leader Stéphane Dion.

• Turner lost his Halton seat in the 2008 election, where he was defeated by Conservative Lisa Raitt.

Medium: Radio
Program: Radio Noon
Broadcast Date: April 29, 1986
Guest(s): Garth Turner
Host: Harry Schatsky
Duration: 3:05
Photo: Image of stock chart ©iStockphoto.com/Marlee90

Last updated: April 23, 2013

Page consulted on April 29, 2014

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