This post originally appeared in my newsletter.

Too soon to tell how these will work out:

• Bancolombia (CIB)

• Grupo Aval (AVAL)

Politics will drive returns here. Interesting note: Scotiabank has operations in Colombia and they don’t seem to be able to compete with the top players in the market.

Useful links

These Purpose Investments cash ETFs are all yielding over 2% these days.

Forced selling is coming to the Toronto condo market.

Tax brackets are changing in 2023.

Illiquid investments in a liquid wrapper don’t seem to work very well.