Features
Individuals like Jonathan Strauss, who stayed in Winnipeg rather than leave when opportunity beckoned elsewhere, are key to sustaining the vibrancy of our community
By BERNIE BELLAN In the September 27 print edition of The Jewish Post & News I wrote an article showing how much inflation has had a very negative effect on the amounts that our Jewish Federation has been allocating to the 12 beneficiary agencies of the Federation.(You can read about those cuts elsewhere on this website.) What I wrote in the print issue is that the fact that the Federation has had to reduce allocations to the agencies this year by over $200,000 brings home a point I have been making for years, which is that the demographics of our Jewish community are changing considerably – and not for the better.
In years past the Federation could count on increased contributions to the Combined Jewish Appeal from one year to the next and the beneficiary agencies could expect to receive at least as much in allocations from the Federation as they had the previous year.
And, although there was a slight increase in the total amount raised by the CJA this past year over the previous year, the amount raised in the 2022-23 campaign was only $50,000 more than what had been raised in the 2021-22 campaign.
As I also noted in my article reporting on the decrease in allocations to agencies in our last issue, the Federation had been able to increase allocations to the agencies in the previous two years only by dipping into its reserve fund to the tune of $100,000 both those years – and that was not sustainable on an ongoing basis.
Yet, the impact of the cuts to agencies will not be nearly as severe as one might have expected for two reasons: As I also noted in my article in the September 13 issue, there was a substantial increase in grants given by the Jewish Foundation this past year. Secondly, many of the beneficiary agencies have established endowment funds that have been yielding returns such that they have been able to mitigate to some extent the impact of the cuts that have now been imposed by the Federation.
Certainly, the financial health of our community institutions is not in immediate jeopardy as a result of decisions that have been made by planners in the past, also thanks to the generosity of donors who have now passed on but who left substantial gifts either directly to the Jewish Foundation or to many of the agencies,, as the case may have been.
But, what of the future? Our Jewish community is an aging community and, while there has been an influx of new blood over the past 30 years, many of the members of the Jewish community who could be counted on to provide financial support for community institutions have disappeared from the scene. In many cases their children are continuing to provide that same level of support – but one wonders whether that will continue very much longer?
Further, there has been an ongoing exodus of Jewish Winnipeggers over the years to other cities – which has only been exacerbated in more recent years by many older – and now retired members of our community, moving to other cities to be closer to their children and grandchildren. While I can’t pin a specific figure as to how many Jewish Winnipeggers fit into the category of ex-Winnipeggers, anecdotally I have been at the receiving end of a constant stream of phone calls or emails over the years from subscribers asking me either to change their address to another city or, as is often the case, simply cancelling the paper when they leave Winnipeg.
That is why it was so refreshing to hear from one young member of our community who chose to stay in Winnipeg when he could easily have made the move to another city when opportunity beckoned.
That individual is Jonathan Strauss, who was the recent guest speaker at the Remis lecture forum, held weekly at the Gwen Secter Centre (and which will be going until the end of October this year).
Jonathan told the audience at the Gwen Secter on Thursday, September 21 how he’s managed to succeed as an entrepreneur in a wide variety of fields, all the while maintaining his residence in Winnipeg, even while servicing clients in many different cities.
His foray into the business word began when Jonathan was only 16, in 1995, he observed – after just having completed Grade 10. He first started working for a publication known as the Computer Post, and when the owners of that publication found themselves in financial difficulty Jonathan had the courage to dare to offer to buy the business from them – which he did.
Still in high school, but now with an entrée into the world of computer retailing through the Computer Post, Jonathan began to organize a computer expo for computer manufacturers and retailers to showcase their products.
Possessed with a formidable communication ability Jonathan was able to transition from organizing annual computer expos to an entire world of event management, under the name Strauss Event Management.
In time, moreover, Jonathan’s networking skills allowed him not only to develop a thriving event management company, but also to begin providing management services for many non-profit associations to the point where his company now provides those services for 13 different associations.
In describing how he came to acquire such a keen ability to network, Jonathan paid particular tribute to Brian Scharfstein, who served as a mentor for Jonathan in the early years of his company. He also mentioned Steve Kroft as someone who has provided great advice over the years.
At the same time Jonathan has been eager to participate in volunteering within the Jewish community, he said, including serving on the boards of Gray Academy and the Asper Campus (were he is the Gray Academy representative on that board). As well, he noted, he has been active in the Rady JCC Sports Dinner for many years.
Jonathan Strauss is not unique in his having decided to remain in Winnipeg, fashion a successful career as an entrepreneur, and play an active role within the Jewish community, but for every Jonathan Strauss I could probably name a great many others who didn’t stay in Winnipeg.
I remarked to Jonathan that several years ago I decided to undertake an analysis of where every single recipient of a scholarship from the Jewish Foundation in a particular year (that I chose at random) had ended up.
I said that what I discovered was that while many of the scholarship recipients who had pursued educations in health related fields, including nursing, dentistry, and medicine, had remained in Winnipeg, the scholarship recipients who chose to enter into business had by and large left Winnipeg.
In response to that observation Jonathan had a very interesting thought. He suggested that, while prior to Covid what I discovered about where young people ended up may have been true for the most part, if I were to undertake a similar study in a few years time, Jonathan predicted that I would discover a great many more young people will have decided to stay in Winnipeg.
The reasons are not difficult to decipher, he suggested: the extraordinarily high cost of housing in cities like Toronto and Vancouver and the incredibly long commute times if your dream is to own a house somewhere that is anywhere close to affordable. Added to that, Jonathan gave his own business as an example of being able to offer services to clients in many different cities that makes no difference where his services are located. (He even gave as an example his having three employees in El Salvador. Jonathan has never met them, he explained, but they’re as much a part of his business as anyone here – to the point that they celebrate birthdays together over the internet as if they were all in the same location.)
I said to Jonathan that, given the negative appeal that living in a city such as Toronto would hold for so many young people, especially those with young families, I’ve often wondered why our Jewish community has never made a more concerted effort to attract families from a city like Toronto.
The reason, I suppose, that our Federation is quite willing to roll out the welcome mat for prospective migrants here from distant lands, but has never made any sort of an effort to attempt to attract Torontonians, for instance, is that Toronto’s own Jewish Federation might find that highly offensive.
And yes, there have been instances of former Jewish Winnipeggers returning to Winnipeg from other cities – and settling in wonderfully here, but wouldn’t it be something if a trickle would turn into a torrent?
The key to the future of our Jewish community here is having more Jonathan Strausses decide to stay here – or perhaps return from cities in which they are now living. The alternative is for our Jewish community institutions to rely increasingly on the past generosity of donors who laid the groundwork for the sustainability of those institutions, but without an ever growing source of new donors to our Federation and its beneficiary agencies, the cut in allocations that occurred this year will very likely turn into a regular pattern.
Features
Exchange Rate Factors: What Global Events Mean for Savvy Investors
When Russia invaded Ukraine in 2022, it created ripples in all financial markets, including currency markets. The Euro weakened while the dollar surged and emerging market currencies wobbled. Global factors can quickly affect financial markets and shake established trends. Apart from such rare events, currencies tend to change their price because of interest rates, inflation, and overall investor confidence. For investors managing money abroad, understanding these movements is critical to avoid losses and mitigate risks.
Below, we will break down how global political, economic, and cultural events influence exchange rates, with insights for savvy investors.
Economic factors
There are several key exchange rate factors with a consistent history of shaking financial markets. These factors include inflation, interest rates, trade balances, employment rates, and so on. Since economic factors are shaping markets almost daily, we start with those.
Inflation and interest rates
Inflation and interest rates are closely connected as one can easily affect the other. When inflation rises, central banks step in and raise interest rates to reduce inflation, and when inflation is lower, central banks can lower interest rates to make borrowing money cheaper. As a result, investors closely monitor these two metrics to anticipate changes in interest rates. Higher inflation makes currencies weaker, and whenever banks change the rates, the changes are immediately reflected in global currency rates. In the United States, the Federal Reserve is the central bank that sets interest rates in the country.
Trade balances and economic growth
A country that exports more than it imports has a stronger demand for its currency. More demand equals a stronger currency. However, the Japanese yen was always weaker against the dollar because the BOJ of Japan tends to have super low rates near 0 to support its exporters. Economic growth also increases demand for local currency as more investors try to invest in the country’s economy. Long-term investors often track this data to detect early signs of any changes in currency strength.
Political and geopolitical factors
Elections, sanctions, and overall political stability are also crucial factors. If the country gets under sanctions, its economy crumbles and its currency becomes inflationary, losing its value quickly. Elections are also crucial for a currency’s strength. Geopolitical events can have a serious impact on the currency as well. The most obvious example is the 2016 Brexit events that made GBP lose its value rapidly and violently. Global conflicts, such as wars, can seriously impact global financial assets, especially currency markets. When tensions are high, safe-haven currencies like USD and CHF (Swiss Franc) become very popular among investors as they seek a safe place to protect their capital.
Cultural and social factors
People like tourists, workers, and diaspora communities can shape currencies as well. Tourism usually drives seasonal demand, and countries that are popular destinations during certain seasons experience their currency appreciation as demand spikes. The perception matters as countries seen as safe and opportunity-rich tend to attract more investors, solidifying their currency strength.
Technology and innovation
Technology is seriously affecting everything, especially the financial sector. Digital payment systems, blockchain technology, and fintech startups have made it easy and swift to move money around. Cryptos and stablecoins enable investors to protect their capital using stablecoins during volatile times. The latest trend among banks is to work on CBDCs, which signals a new era where national currencies are blended with technology and blockchain. Despite this, currencies, even in their crypto form, will continue to be influenced by all major factors mentioned above, and knowing how these factors impact your currency is key to keeping your capital safe from risks.
Practical lessons for savvy investors
So, what do all these factors teach us about global currency rates and investing strategies? The key lies in proper preparations and anticipation. Monitoring macro trends, policy announcements, and major geopolitical and political developments is critical.
Diversify
The number one method which is used by professional investors is diversification. This simply means to spread your risks across a basket of assets. By not investing all your capital in one instrument, you can mitigate risks. If one asset experiences a loss, other ones will counter it with returns. Building a diversified portfolio is key to properly diversifying. For example: divide your capital to buy stocks, commodities, currencies, and cryptos so that if one fails to perform, others will counter it. This ensures a stable income without unnecessary losses in the long run.
Hedge
Forex options and ETFs are great hedging assets. Forex options let investors lock in an exchange rate for a future date, which is very useful if you expect volatility but want stability. Currency ETFs, on the other hand, track specific currencies or a basket of currencies and allow easy trading or protection without trading forex directly, but they are still risky.
Monitor the economic calendar
Economic calendar is a free online tool that aggregates important macroeconomic news data such as interest rate decisions, CPI, inflation, employment rates, central bank announcements and speeches, and other crucial information. By monitoring them, investors can always know when important news data will be released, and they can postpone their investment decisions to avoid volatile times and only invest after the main trend is determined.
Features
The Canadian Dollar is on a slow decline. Should you save in euros or US dollars instead?
The Canadian dollar has been losing its value against the dollar this year. For Canadians, this raises a simple question: if your CAD is losing ground, is it better to move savings into euros or U.S. dollars, especially bonds, stocks, or a carry-trade strategy? Carry-trade strategy in this context means to borrow in CAD and invest it in the USA or the EU zone. This is a complex matter, and to understand where the CAD is, how attractive other currencies might be, we need to analyze these currencies more deeply. Below, we will walk you through the data, practical costs, and risks so you can reach a usable conclusion after reading this guide.
Quick snapshot – What the markets say right now
Recently, the Canadian dollar has hit multi-month lows due to weaker oil prices and a post-Fed (U.S. Federal Reserve) market reaction (which raised the rates, making the CAD weaker against the dollar). Canada’s central bank has cut its policy rate to 2.25%, while the Fed’s fund rate remains notably higher at about 3.75-4%. The ECB (European Central Bank) main interest rates are lower than the Fed’s and near the low-to-mid 2% range. While the Euro currency to USD rates remain mostly predictable, due to higher US bond yield rates, the EUR remains stronger, still. The U.S. 10-year Treasuries are around 4.1%, Canada’s 10-year near 3.2%, and Germany’s 10-year around 2.7%, meaning that today the USD-denominated bonds have the highest nominal yield among the three. As a result, the dollar seems much more attractive when it comes to bond yields and stocks.
Bonds – Which currency is the best for fixed income?
The short answer is: USD bonds. When it comes to nominal yield alone, US bonds beat almost all other competitors. U.S. government bond yields (10-year) are noticeably higher than Canadian and German/Eurozone bond yields right now. As a result, US bond buyers have more income potential than Canada and the EU. Euro-area core yields are lower, meaning they are paying less than the USA.
However, nominal yield does not mean it is guaranteed real return, and metrics like inflation, currency rates, and hedging costs can impact potential returns directly. If you buy USD bonds but the dollar falls against the CAD, currency losses will most likely wipe out the higher yield rate. If the Fed lowers its rates, it will make the dollar weaker against the CAD and EUR.
Another challenge is that, if you live and spend in Canada, you are using CAD, and when exchanging it for dollars, you get exposed to foreign currency rate risks, which must not be underestimated.
Stocks – Euro or dollar?
Both the EUR and USD have their advantages. USD has strong liquidity and strong long-term performance, while EUR equities offer valuation opportunities and recent relative strength.
Why USD?
The U.S. market remains the most liquid stock market with strong earnings for many tech and large companies. This makes USD stocks very attractive for long-term-oriented investors. S&P has been rising historically, and even after crashes, it often recovers its value relatively quickly.
Why EUR?
European indexes have performed well this year and in many cases cost less than their U.S. counterparts. While cheaper does not always mean better, these indexes still have some growth potential. Some major banks in the EU zone, together with industries, have recovered strongly with a recent focus on military manufacturing, making many EU stocks very attractive, together with local indexes.
However, here is a caveat: if you are using CAD daily and it loses its value against the euro, the returns from euro holdings might shrink, exposing you to greater currency risks.
Carry-trade analysis – Is it viable to borrow CAD and invest it in USD or EUR?
The basic promise of carry-trade is simple yet powerful: you borrow cheaper currency and invest it in currencies with higher yields. In our case, is it lucrative to borrow in CAD and invest in either EUR or USD? To answer this question, we need to look at numbers. BoC policy rate is 2.25%, Fed funds from 3.75%, U.S 10-yr is 4.1%, Canada 10-yr is 3.2%. If we deduct Canadian rates from the U.S. rates, we get around 1.8% positive before costs. So, in theory, it could be lucrative to invest CAD in USD assets using a carry trade. Since the ECB has around 2%, it is not profitable to use a carry-trade strategy for the euro.
The bottom line
While the CAD has been weakening lately, it is still not cheap enough to naively invest in USD or EUR. However, if you want a pure yield and can tolerate foreign exchange rate risks, USD bonds are more attractive today. When it comes to stocks, USD equities provide stable and liquid markets. If you want valuation potential and diversification, then euro equities have become more attractive this year. When it comes to carry-trade strategies, the USD remains more lucrative than the euro, but on paper, traders and investors should evaluate all the risks and costs before investing in any currency.
In the end, Canadians who have CAD for their daily costs should be careful when trying to get exposure to other markets. US bonds, US stocks, US carry-trade, and EU stocks remain attractive choices for experienced investors.
Features
Why Reading Online Reviews Matters Before Making a Purchase
People usually pause before purchasing to read reviews from other customers. It’s become part of everyday online life, a quick way to see how something really performs before making a decision. According to the Pew Research Center, most internet users read reviews to get a better idea of what they’re buying. The feedback from actual users becomes more reliable than marketing statements because it comes from everyday consumers instead of sales-oriented corporate messages.
Reading reviews also helps spot patterns. If the same comment, good or bad, appears again and again, it usually means there’s truth to it. People now use this collective feedback as their main method to evaluate online products and services for quality and reliability.
When There Are Too Many Options, Reviews Narrow the Field
Shopping online can be overwhelming and a bit of an adventure. There are always more options than anyone needs, hundreds of gadgets, countless household tools, endless entertainment subscriptions. All listings present themselves as excellent value propositions with operational excellence, yet it remains a bit of a challenge when it comes to verifying which ones deliver actual results.
Reviews become useful at this point. Real users provide information about product details, which marketing content fails to show, by sharing their experiences about delivery speed and setup ease and product durability after several months of use. The product details show its operational behavior when used in regular business activities.
Users tend to begin with reviews. For instance, a tech product might have amazing packaging but fall short on battery life or integration. Maybe a new game or casino platform might sound promising, and reviews on trusted choices can confirm whether it includes flexible payment options, a wide content library, and responsive support. When feedback keeps mentioning strong points like clear instructions or helpful customer service, it shows consistency. The product or service delivers its expected results because customers have personally seen its performance.
Reviews Build Faith Through Shared Experience
Reviews gain their strength from the emotional bonds which readers find with each other. Reading about someone else’s experience feels familiar, even if you don’t know them. It’s basic word-of-mouth marketing, like receiving recommendations from a neighbor who has already purchased the item you are considering.
This shared experience has built an informal community of online voices. People rely less on what a brand claims and more on what other users notice. When different reviewers mention similar strengths or small frustrations, it adds authenticity. The story becomes more believable.
Reviews show what other users have experienced, but they do not offer any guidance about what to do. This type of his collective info turns into an important part of how people build trust online. It’s a small thing, but it makes a big difference in how confident we feel about the choices we make.
Balanced Feedback Feels More Honest
A perfect score does not prove that something lacks any imperfections. A combination of positive and less-than-perfect feedback creates a more authentic impression. Small complaints about packaging or delivery delays make glowing reviews sound real. A recent study showed that participants answered honestly instead of trying to make their responses attractive to others.
Most readers know that nothing works flawlessly all the time. People look for reviews which provide both positive and negative aspects because they want to find balanced opinions. Customers can establish realistic purchase expectations through combined information which they can apply before buying. Review systems maintain their value because reviewers maintain honesty in their assessments.
Why Recency and Volume Matter
The best reviews and product ratings are the ones written recently. They reflect how a product or service performs right now, not how it worked a year ago. Things change, materials, delivery services, and even the way companies handle support.
A steady flow of new reviews suggests consistency. When lots of people share their experiences over time, patterns appear. Those patterns tell readers what’s typical, not just what’s possible. It’s the difference between one person’s lucky experience and a reliable average that others can count on.
Quantity matters too. Ten balanced reviews from this month will usually tell more than a single five-star comment from last summer. Together, recency and volume create a clear picture of reliability and quality without relying on assumptions.
Recognising Genuine Reviews
Not every review online is authentic, real, and written by a consumer. Some are written by automated accounts or people hired to post positive comments. Real feedback tends to sound natural and personal. It might mention something specific like the texture of a fabric, how easy the setup was, or whether support staff replied quickly.
Authentic reviews vary in tone and detail. Some are short, others long, some are full of small observations. That mix of styles feels human. On the other hand, copied or fake reviews usually repeat the same phrases or sound overly polished.
Many websites now try to identify and label suspicious posts, but readers can also help by paying attention to repetition, timing, and tone. A quick scan across different platforms usually reveals what’s genuine and what’s not.
Reading Smarter in the Online Marketplace
Reviews have become a solid foundation for how people make decisions online. They give an honest view of how something performs beyond what’s written on the label. Every comment, short or long, adds another piece to the puzzle.
More than that, reviews show how businesses handle problems, how quickly they respond, and whether they follow through on promises. They offer accountability in a world where shoppers and sellers rarely meet face to face.
Reading a handful of reviews won’t guarantee a perfect experience, but it provides helpful context. It shows what’s typical and helps people make choices with more confidence. In an online world full of noise, reviews remain one of the easiest and most reliable ways to learn from others.