The Empire Club of Canada
Annual Investment Outlook 2021 – Making Money in Volatile Markets
DATE: Thursday, January 7th, 2021
TIME: 12:00 PM Eastern Time
Panelists:
David Rosenberg Chief Economist & Strategist, Rosenberg Research Thomas S. Caldwell, C.M. Founder and Chairman, Caldwell Financial Ltd. Pierre Lassonde, C.M., GOQ Chairman & CEO, Firelight Investments

Thank you to our Season Sponsors:
Panelists
Panelists:
Chief Economist & Strategist, Rosenberg Research
Thomas S. Caldwell, C.M.
Founder and Chairman, Caldwell Financial Ltd.
Chairman & CEO, Firelight Investments

BIOS
David Rosenberg
Chief Economist & Strategist – Rosenberg Research
Mr. Rosenberg is the Firm’s Chief Economist & Strategist with a focus on providing a top-down perspective to the Firm’s investment process and Asset Mix Committee. Mr. Rosenberg received both a Bachelor of Arts and Masters of Arts degree in Economics from the University of Toronto. Prior to joining Gluskin Sheff in the spring of 2009, Mr. Rosenberg was Chief North American Economist at Merrill Lynch in New York for seven years, during which he was consistently ranked in the Institutional Investor All-Star analyst rankings. Prior thereto, he was Chief Economist and Strategist for Merrill Lynch Canada, based out of Toronto.
Mr. Rosenberg is also the author of Breakfast with Dave, a daily distillation of his economic and financial market insights.
Thomas S. Caldwell, C.M.
Founder and Chairman – Caldwell Financial Ltd.
Thomas S. Caldwell graduated from McGill University in 1965, and has been actively involved in the investment industry since that time.
Mr. Caldwell is Chairman of Caldwell Financial Ltd., an organization founded in 1980. Caldwell Financial Ltd. is a diversified investment company with subsidiary organizations providing investment management, brokerage and insurance services to a broad spectrum of investors throughout North America and around the world.
Mr. Caldwell is also President and a Director of Urbana Corporation, a Member of the Conference of Defence Associations Institute, and is on the Board of Associates of the Whitehead Institute for Biomedical Research at MIT.
Mr. Caldwell is a past Governor of the Toronto Stock Exchange and one of the leading experts in capital markets, particularly in trading environments. He is recognized as one of the world’s foremost investors in securities exchanges. Caldwell Financial Ltd. and its affiliates were the second-largest owners of the New York Stock Exchange prior to the NYSE’s demutualization. The company, through various Limited Partnerships, currently has investments in most major securities
exchanges around the world.
Mr. Caldwell has, through his career, been actively involved in addressing social and community needs.
He was awarded Her Majesty’s Golden Jubilee Medal in 2002 for his activities on behalf of Canadian Veterans. In 2003 he was appointed Member of the Order of Canada for his work in assisting those in need as well as contributing to institutions working to better the lives of others.
Mr. Caldwell and his wife Dorothy have been married since 1966 and have two sons.
Pierre Lassonde, C.M., GOQ
Chairman & CEO – Firelight Investments
Pierre Lassonde has a B.A., University of Montreal 1967, a BSc Electrical Engineering from Polytechnique, Montreal 1971 and an MBA, University of Utah, 1973. He received his P.Eng. Ontario designation in 1976, CFA designation 1984 and OIQ in 2020. He holds honorary Ph.D’s in Engineering from the Universities of Toronto, Montreal and Ryerson, Doctor of Business, University of Utah and Honorary Doctor of Law from York University, June 2014 and Western University, June 2015. Awarded Doctor of Science, Concordia University, June 2016.
Pierre Lassonde co-founded Franco-Nevada Mining Corporation in 1982. Over the next 20 years Franco provided shareholders with a 36% annualized rate of return. The company was acquired by Newmont Mining Corp in February 2002 and Pierre became President and Vice Chairman in 2007. He served as Chairman of the World Gold Council from 2005 to 2009.
In 2008, Pierre led an investors group bringing back Franco-Nevada to the public market with a US$1.2B IPO and became its Chairman. The success story continues as the market capitalization of the company today is over US$21B. On May 6, 2020, at the Annual Meeting, Mr. Lassonde was elected Chairman Emeritus.
Mr. Lassonde’s philanthropic interest in education and the arts is well known. He is Past President of the Board of the Quebec National Art Museum (2005 to December 2016). In July 2015 Mr. Lassonde was appointed Chair of the Board of the Canada Council for the Arts for a term of five years. March 18, 2020, he was named Chair of Polytechnique Montréal’s Board of Directors for a
period of five years.
Pierre was made a Member of the Order of Canada in 2002 and Grand Officer of the National Order of Québec in 2019. He was inducted as a Fellow into The Canadian Academy of Engineering in 2006 and inducted into the Canadian Mining Hall of Fame in January 2013.
