It is fair to say that for the majority of Canadians, the purchase of a house is the single-largest investment they will ever make.

Interestingly, the second-largest investment might well be a car, and the significant difference is that we buy a home assuming it will rise in value and provide a certain level of security for our senior years. A car, on the other hand, is something we buy knowing full well the value will reduce to something close to zero after 10 years.

We also prepare ourselves for old age by investing in stocks, bonds and other securities, and we hope that these, too, will rise in value so that we can maintain a certain lifestyle in our golden years.

Whether we are buying a house or investing in stocks, there are rules of the game for any major investment. The public has little sympathy for companies that deceive shareholders or change the rules of the game after they have put........

© Calgary Herald