December 8

The Finish Line – Despite the Noise, We’re Rockin’ It

Good day, I had our portfolio group put up some charts and comments as despite the challenges with currency and low commodity prices earlier this year, 2017 is shaping up to be one of the strongest years we’ve had on record. We track our various models but our firm’s most widely used portfolio, the Willoughby.

November 24

The Growth of Private Debt/Equity

Good day, Great to see many of you at our Private Debt & Real Estate event at the Vancouver Club last night. We had about 150 people attend and for those of you who weren’t able to make it, here’s a brief recap of what I covered: • Over the last 20 years, it has.

November 3

Agility Pays Off Again

Hi All, Back in October, there was a sharp sell-off in a US Pharmaceutical company we had been watching named Celgene. The stock dropped from a high of $147.17 down to a low of $94.55 in a matter of weeks. On October 26th, Celgene released decent earnings but lowered guidance slightly and the stock sold.

October 20

Smarten Up Morneau

Good day, Being a politician means you need to be a marketer. This isn’t new, but don’t treat people like children – you’re doing yourself a disservice. The Liberal Tax Update Delivery Strategy Step 1 – Let’s not tell them what we’re going to do all in one shot. Let’s stagger it over a few.

October 6

September Saves the Quarter

Good day, We continued to see downward pressure on the US dollar in the 3rd quarter with a 4% total decline in July and August bringing the year to date decline to just under 7%. This made for a difficult summer as the decline negatively affected portfolio performance for Canadian investors holding US securities. The.

September 22

Currency War Part 2

Good day, In my last commentary, I wrote about the impact the loonie’s rapid appreciation has had on Canadian investors holdings US securities. While the S&P500 has climbed roughly 13% year-to-date, the rapid rise in the Canadian dollar has eroded nearly all such gains. Prior to 2017, the Canadian dollar had gradually declined against the.

September 8

Currency War Part 1

Good day, As the loonie has been the world’s best performing currency year-to-date, this has beaten up the Canadian investor diversified into international securities. Millions of Canadians are likely looking at their portfolio statements wondering why YTD figures aren’t that exciting when the S&P 500 has had strong returns. It’s worth noting that international diversification.

August 18

WIP Outperforms

Good day, Please find comments from Bill Richardson below: Hello everyone. Hope all is well. Markets have continued their unsettled way so far in August with investors reacting to various headlines in the media. First, it was the talk of market overvaluations – specifically Technology, which led to a sell-off and then a subsequent rebound..

August 11

The Power of Agility

Good day, Political tensions have plagued this planet for thousands of years, yet major global economies continue to thrive. That said, markets react to world events both positively and negatively and properly positioned investors can both manage risk and thrive. By being invested in investment programs that have the capability to act on a whim,.

August 4

Book Your Vacay Now

Good day, The Dow continues to set records this week, but we Canadians aren’t feeling the love on our statements given the rising loonie. Our US picks have climbed as a whole, confirming that our diversification into the US economy is prudent. Foreign exchange is difficult to predict and hiding in Canadian stocks is a.

July 21

David’s Conversation with Trudeau

Good day, The folks at Harbourfront tend to pay close attention to fiscal and monetary policy, as well as changes in tax policy and government spending. Like all Canadians, we’d like to see the government manage our tax dollars wisely. You might have recently noticed a story in the news regarding the Canadian government’s decision.

July 14

Understanding Currency Impact

Good day, As many of you know the Bank of Canada increased interest rates this week for the first time in seven years on optimism about the Canadian economy. As investors saw this coming for some time now, the Canadian dollar has been rising over the last few months. It is important for investors to.

July 7

July’s Volatility

Good day, Given the long bull market which started in early 2009, investors have been spoiled with very little volatility for a number of years. While it hasn’t happened yet, it’s just a matter of time before our firm’s advisors (and advisors at every firm for that matter), begin to field calls about portfolio contractions.

June 16

The Rationale for Europe

Good day, Last week I mentioned that we’ve increased our European positions in our core holdings. As a reminder, our security selection process incorporates both fundamental and technical analysis. From a fundamental standpoint, we like European equities as they are trading at a discount when compared to North American companies. In addition, many mid to.

June 9

WIP May Results

Good day, Our firm’s largest holding, the Willoughby Investment Pool was flat overall in May as it outperformed the TSX which lost 1.5%. The S&P500 was also flat with a -0.18% return for the month. Year to date, the portfolio is up 5.17% (as at May 31, 2017) while the TSX is up just 0.41%.

May 19

Oil’s Impact on Portfolio Returns

Good day, We’ve had a good start to the year in our second most widely used client portfolio (the Hudson Total Mandate Portfolio) with the majority of our holdings, most notably our largest global holding sub-managed by Mawer Investments showing a 13.39% return YTD. We continue to play the value game and feel that we.

May 12

Willoughby Investment Pool – April Commentary

Good day, President Trump’s inability to repeal and replace Obamacare at the end of March, led investors to question whether his other pro-growth initiatives could also fail. Many of the stocks that had previously risen as part of the “Trump Rally” (financials, industrials and energy) retreated once Trump’s healthcare plans didn’t materialize. The growing threats.

April 21

OPEC Targeting $60/barrel

Good day, While many sectors have seen decent gains year to date, falling oil stocks have shaved off some of the market’s results. Oil stocks continued to fall this week, despite almost perfect compliance from OPEC on production cuts, a record decrease in spending by oil & gas companies, and an increased demand for the.

April 7

Strong 12 Months, Strong Quarter

Good day, Our most widely used investment portfolio program has been running for exactly 1 year as of this Thursday. While the portfolio approach has been employed by our firm for a number of years, last April we built a portfolio pool specifically for this strategy. The Willoughby Investment Pool shows a 9.9% rate of.

March 24

2017 Federal Budget

Good day, There was a lot of anticipation and anxiety leading up to March 22nd – the publish date of the Federal Budget. Rumours were circling about the possibilities of taxing on disposed principal residences, increasing taxes for small businesses, reducing income splitting opportunities, a potential increase in the capital gains inclusion rate from 50%.

March 3

A Good 60 Days

Happy March, As I type this, Yellen is giving her speech reiterating the strong job growth in the US and confirming that a March rate hike is possible. In the current environment, Yellen and Trump seem to hold the key to investors’ hearts as they hang on to every word in search for clues to.

February 27

Oil Soft But When it Runs it Runs

Good day, After a great rally in oil prices and energy stocks last year, both the commodity and oil and gas companies have been somewhat disappointing this year to date. While many are still feeling the pain from the 2014/2015 oil crash, the sector’s volatility and cyclical nature has been witnessed over many decades. We’ve.

February 17

US Banks Could Win Big

TGIF, Ever since the Trump win, we’ve been bullish on US banks given Trump’s pledge to reduce corporate taxes and relax regulatory oversight. This week, Bloomberg released data which attempts to quantify the impact of the tax reduction plan on the six largest US banks. Trump has stated that he plans to cut general corporate.

February 10

Guess Who Has Better Style?

Good Day, Last week we explored the concept of value based investing – selecting securities trading lower than their intrinsic value. An equally popular investment style is growth based investing. Investors searching for growth aka capital appreciation, would look for companies which are likely to grow their earnings at above average rates. A growing business.

February 3

Dig For Value

Good day, The most common investment styles used today are value based investing and growth style investing. While most investors are generally familiar with these terms, having a deeper understanding of the mechanics will contribute to investment success. I’ll chat about value investing today and perhaps we can cover growth in a future piece. When.

January 20

The New Age of Portfolio Investing

Good day, Last week we discussed the security selection process of one of our firm’s widely used discretionary portfolio pools. We reviewed the screening process used to identify quality securities and the requirement for those securities to be positively trending. Today, we’ll discuss another discretionary portfolio used by a number of our firm’s clients. Generally.

January 13

Return Attribution (Part 1)

Good day, Over the next two commentaries, I will provide info on the top two discretionary portfolio programs our team most commonly uses for client accounts, and their responses to the recent market activity. Next week I will discuss the Hudson Total Mandate Portfolio which is generally only available to accredited investors or those meeting.

January 6

2017 Market Outlook

Happy New Year! Many of the global events of 2016 will be published in the next round of history books, and after such an eventful year, we’re all wondering what’s in store for 2017. US equities as a whole are no longer cheap, and to see double digit returns out of the S&P 500 in.

December 9

December Update

Good day, Here are some fresh comments compiled by our Portfolio Management crew this week: “Markets have been interesting as of late. The previously strong sectors and asset classes such as Info Tech and Low Volatility names have turned weak, while previous laggers in the Industrial, Financial and Energy space are now leading the way..

November 25

Be Selective

Good day, US markets have reached all time highs this week with the TSX not far behind. The charts for US markets show similar levels about 18 months back and much longer for the TSX so despite the hype, markets haven’t made much progress during this time. A couple of years ago I wrote that.

NEWER OLDER 1 2 4 5
November 24

The Growth of Private Debt/Equity

Good day, Great to see many of you at our Private Debt & Real Estate event at the Vancouver Club last night. We had about 150 people attend and for those of you who weren’t able to make it, here’s a brief recap of what I covered: • Over the last 20 years, it has.

November 3

Agility Pays Off Again

Hi All, Back in October, there was a sharp sell-off in a US Pharmaceutical company we had been watching named Celgene. The stock dropped from a high of $147.17 down to a low of $94.55 in a matter of weeks. On October 26th, Celgene released decent earnings but lowered guidance slightly and the stock sold.

October 20

Smarten Up Morneau

Good day, Being a politician means you need to be a marketer. This isn’t new, but don’t treat people like children – you’re doing yourself a disservice. The Liberal Tax Update Delivery Strategy Step 1 – Let’s not tell them what we’re going to do all in one shot. Let’s stagger it over a few.

October 6

September Saves the Quarter

Good day, We continued to see downward pressure on the US dollar in the 3rd quarter with a 4% total decline in July and August bringing the year to date decline to just under 7%. This made for a difficult summer as the decline negatively affected portfolio performance for Canadian investors holding US securities. The.

September 22

Currency War Part 2

Good day, In my last commentary, I wrote about the impact the loonie’s rapid appreciation has had on Canadian investors holdings US securities. While the S&P500 has climbed roughly 13% year-to-date, the rapid rise in the Canadian dollar has eroded nearly all such gains. Prior to 2017, the Canadian dollar had gradually declined against the.

September 8

Currency War Part 1

Good day, As the loonie has been the world’s best performing currency year-to-date, this has beaten up the Canadian investor diversified into international securities. Millions of Canadians are likely looking at their portfolio statements wondering why YTD figures aren’t that exciting when the S&P 500 has had strong returns. It’s worth noting that international diversification.

August 18

WIP Outperforms

Good day, Please find comments from Bill Richardson below: Hello everyone. Hope all is well. Markets have continued their unsettled way so far in August with investors reacting to various headlines in the media. First, it was the talk of market overvaluations – specifically Technology, which led to a sell-off and then a subsequent rebound..

August 11

The Power of Agility

Good day, Political tensions have plagued this planet for thousands of years, yet major global economies continue to thrive. That said, markets react to world events both positively and negatively and properly positioned investors can both manage risk and thrive. By being invested in investment programs that have the capability to act on a whim,.

August 4

Book Your Vacay Now

Good day, The Dow continues to set records this week, but we Canadians aren’t feeling the love on our statements given the rising loonie. Our US picks have climbed as a whole, confirming that our diversification into the US economy is prudent. Foreign exchange is difficult to predict and hiding in Canadian stocks is a.

July 21

David’s Conversation with Trudeau

Good day, The folks at Harbourfront tend to pay close attention to fiscal and monetary policy, as well as changes in tax policy and government spending. Like all Canadians, we’d like to see the government manage our tax dollars wisely. You might have recently noticed a story in the news regarding the Canadian government’s decision.

July 14

Understanding Currency Impact

Good day, As many of you know the Bank of Canada increased interest rates this week for the first time in seven years on optimism about the Canadian economy. As investors saw this coming for some time now, the Canadian dollar has been rising over the last few months. It is important for investors to.

July 7

July’s Volatility

Good day, Given the long bull market which started in early 2009, investors have been spoiled with very little volatility for a number of years. While it hasn’t happened yet, it’s just a matter of time before our firm’s advisors (and advisors at every firm for that matter), begin to field calls about portfolio contractions.

June 16

The Rationale for Europe

Good day, Last week I mentioned that we’ve increased our European positions in our core holdings. As a reminder, our security selection process incorporates both fundamental and technical analysis. From a fundamental standpoint, we like European equities as they are trading at a discount when compared to North American companies. In addition, many mid to.

June 9

WIP May Results

Good day, Our firm’s largest holding, the Willoughby Investment Pool was flat overall in May as it outperformed the TSX which lost 1.5%. The S&P500 was also flat with a -0.18% return for the month. Year to date, the portfolio is up 5.17% (as at May 31, 2017) while the TSX is up just 0.41%.

May 19

Oil’s Impact on Portfolio Returns

Good day, We’ve had a good start to the year in our second most widely used client portfolio (the Hudson Total Mandate Portfolio) with the majority of our holdings, most notably our largest global holding sub-managed by Mawer Investments showing a 13.39% return YTD. We continue to play the value game and feel that we.

May 12

Willoughby Investment Pool – April Commentary

Good day, President Trump’s inability to repeal and replace Obamacare at the end of March, led investors to question whether his other pro-growth initiatives could also fail. Many of the stocks that had previously risen as part of the “Trump Rally” (financials, industrials and energy) retreated once Trump’s healthcare plans didn’t materialize. The growing threats.

April 21

OPEC Targeting $60/barrel

Good day, While many sectors have seen decent gains year to date, falling oil stocks have shaved off some of the market’s results. Oil stocks continued to fall this week, despite almost perfect compliance from OPEC on production cuts, a record decrease in spending by oil & gas companies, and an increased demand for the.

April 7

Strong 12 Months, Strong Quarter

Good day, Our most widely used investment portfolio program has been running for exactly 1 year as of this Thursday. While the portfolio approach has been employed by our firm for a number of years, last April we built a portfolio pool specifically for this strategy. The Willoughby Investment Pool shows a 9.9% rate of.

March 24

2017 Federal Budget

Good day, There was a lot of anticipation and anxiety leading up to March 22nd – the publish date of the Federal Budget. Rumours were circling about the possibilities of taxing on disposed principal residences, increasing taxes for small businesses, reducing income splitting opportunities, a potential increase in the capital gains inclusion rate from 50%.

March 3

A Good 60 Days

Happy March, As I type this, Yellen is giving her speech reiterating the strong job growth in the US and confirming that a March rate hike is possible. In the current environment, Yellen and Trump seem to hold the key to investors’ hearts as they hang on to every word in search for clues to.

February 27

Oil Soft But When it Runs it Runs

Good day, After a great rally in oil prices and energy stocks last year, both the commodity and oil and gas companies have been somewhat disappointing this year to date. While many are still feeling the pain from the 2014/2015 oil crash, the sector’s volatility and cyclical nature has been witnessed over many decades. We’ve.

February 17

US Banks Could Win Big

TGIF, Ever since the Trump win, we’ve been bullish on US banks given Trump’s pledge to reduce corporate taxes and relax regulatory oversight. This week, Bloomberg released data which attempts to quantify the impact of the tax reduction plan on the six largest US banks. Trump has stated that he plans to cut general corporate.

February 10

Guess Who Has Better Style?

Good Day, Last week we explored the concept of value based investing – selecting securities trading lower than their intrinsic value. An equally popular investment style is growth based investing. Investors searching for growth aka capital appreciation, would look for companies which are likely to grow their earnings at above average rates. A growing business.

February 3

Dig For Value

Good day, The most common investment styles used today are value based investing and growth style investing. While most investors are generally familiar with these terms, having a deeper understanding of the mechanics will contribute to investment success. I’ll chat about value investing today and perhaps we can cover growth in a future piece. When.

January 20

The New Age of Portfolio Investing

Good day, Last week we discussed the security selection process of one of our firm’s widely used discretionary portfolio pools. We reviewed the screening process used to identify quality securities and the requirement for those securities to be positively trending. Today, we’ll discuss another discretionary portfolio used by a number of our firm’s clients. Generally.

January 13

Return Attribution (Part 1)

Good day, Over the next two commentaries, I will provide info on the top two discretionary portfolio programs our team most commonly uses for client accounts, and their responses to the recent market activity. Next week I will discuss the Hudson Total Mandate Portfolio which is generally only available to accredited investors or those meeting.

January 6

2017 Market Outlook

Happy New Year! Many of the global events of 2016 will be published in the next round of history books, and after such an eventful year, we’re all wondering what’s in store for 2017. US equities as a whole are no longer cheap, and to see double digit returns out of the S&P 500 in.

December 9

December Update

Good day, Here are some fresh comments compiled by our Portfolio Management crew this week: “Markets have been interesting as of late. The previously strong sectors and asset classes such as Info Tech and Low Volatility names have turned weak, while previous laggers in the Industrial, Financial and Energy space are now leading the way..

November 25

Be Selective

Good day, US markets have reached all time highs this week with the TSX not far behind. The charts for US markets show similar levels about 18 months back and much longer for the TSX so despite the hype, markets haven’t made much progress during this time. A couple of years ago I wrote that.

NEWER OLDER 1 2 4 5