“The beauty of diversification is it’s about as close as you can get to a free lunch in investing.”

— Barry Ritholtz, American author, newspaper columnist, blogger, equities analyst, founder and CIO of Ritholtz Wealth Management.

“Trust is the glue of life. It's the most essential ingredient in effective communication. It's the foundational principle that holds all relationships.” – Stephen Covey, an American educator, author, businessman, and speaker.

Often, we get so caught up in markets, interest rates and inflation that we forget to pause and reflect on other things that are as important. This week is no different, because what has been dominating newsfeeds is something completely different and arguably less important on a global or historical scale. Finally, the Bank of Canada has cut its benchmark interest rate by 0.25 per cent (often referred to as 25 basis points or 25 “bips”).

Not a week goes by that we don’t see evidence of deception and fraud in the financial industry. It’s understandable; the industry is built around money and there are criminals who want to find an easy way to extract that cash from their marks.

Well, despite recent reduction in global food prices, the inflationary impact still lingers, particularly in many developing countries. Many low- and middle-income economies are still trapped in the food crisis precipitated by the high costs of food.

Look out! There’s a bear in the woods. The bear here being sticky inflation. Some say it’s hiding behind every tree, although it did cool off somewhat in April.

“As AI becomes the new infrastructure, flowing invisibly through our daily lives like the water in our faucets, we must understand its short- and long-term effects and know that it is safe for all to use." – Kate Crawford, researcher, writer, composer, producer and academic, who studies the social and political implications of artificial intelligence.

" I continue to believe that the American people have a love-hate relationship with inflation. They hate inflation but love everything that causes it." – William E. Simon, American businessman and philanthropist who served as the 63rd United States Secretary of the Treasury.

"I always tell people, please don't put more than 1-2 per cent of your net worth in crypto. Please don't invest more than you can afford to lose." – Randi Zuckerberg, an American businesswoman and former director of market development and spokesperson for Facebook

"You don't need to raise taxes on rich people, because they create capitalization and investment. But you need to tax speculation - meaning capital gains." – Carlos Slim, Mexican business magnate, investor, and philanthropist.