Why emotional biases may be riskier than market swings + MORE Apr 17th

From a niche product for parsimonious investors a decade ago, exchange-traded funds are becoming ever more mainstream. Though Canadians, more than citizens of most other developed economies, cling to mutual funds as their retail investing vehicle of choice, ETFs now represent more than one-quarter of the investment fund total and attract the lion’s share of new investment—a $122-billion net inflow in 2025, up 62% from the year previous.

The appeal of ETFs lies chiefly in their cost efficiency, as investment products go. Fees and other expenses of owning them are almost universally under 1% of your investment’s value per year and run as low as 0.03%. Competition in categories such as asset-allocation funds continues to drive them lower. And the cost of buying and selling them is going down, too. Almost all of Canada’s largest online brokerages offer at least a selection of ETFs with 0% commissions.

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With many Canadians facing greater financial constraints, sentiment around tipping culture is shifting. Over the past few years, customers have seen “suggested” tipping amounts rise, and with more people paying on debit and credit machines instead of cash, they are being asked to tip more often. Some say they are feeling annoyed at a time when they might be strapped for cash even before the bill arrives, but experts say there are ways to mitigate the issue. 

Tipping pressure is rising—but you still have a choice

“People need to do a bit of soul checking,” said Stacy Yanchuk Oleksy, CEO of Money Mentors. “Just because someone asks for 30% on the machine, it doesn’t mean that’s what it warrants; it doesn’t mean that’s what you have to do. And I think we need to get around the culture of tipping, that it’s become this guilt-laden, ‘If you don’t tip, therefore somehow that says something about you,’” she said. “Sometimes it’s just, you can’t afford it, and that’s OK too…

Investing your money in the stock market can be more emotional than analytical, especially when the markets are volatile. And at times, it can be hard to keep those emotions in check. That’s when behavioural biases start driving investment decisions—moves that are purely based on how you’re feeling and your past experiences, rather than focusing on the facts. If not kept in check, experts say biases can be a bigger risk to your portfolio than the market swings. 

“Investment isn’t just about numbers and spreadsheets. It’s more emotional and based on experiences and instincts,”  said Ryan Gubic, founder of MRG Wealth. “Some of those instincts, while helpful in life, can quietly work against us when it comes to our money and personal finances.” 

How behavioural biases shape investing decisions

Biases often come up when an investor starts panicking, leading them to do things like sell when the market drops or chase a stock that’s been performing exceptionally well, he said…