August 3

Strong Earnings Continue

Good day, A flurry of earnings reports came out last week for many of the companies we hold. Boeing, Constellation Software, Align Technologies, Mastercard and Old Dominion Freight Lines all had solid earnings reports, although not all of them responded favourably. Facebook was the exception to this positive earnings pattern. Although FB posted solid year.

July 13

Solid Income In A Rising Rate Environment

Good day, While pension and endowment funds have invested in private debt for decades, the large majority of Canadian real estate investors have no exposure to alternative asset classes. The Rockridge Private Debt & Real Estate Pool is Canada’s first retail multi provider portfolio solution focusing on asset-based lending, factoring, mortgage investment corporations and real.

June 29

Willoughby Investment Pool Continues Its Climb

Good day, Our most widely used portfolio pool, the Willoughby Investment Pool, was up approximately 4.25% from the beginning of the year to the end of last week, bringing the 1-year return to 17.55%. Micron Technology reported earnings on Wednesday last week and once again beat earnings expectations, while revenues increased 40% YoY. This news.

June 15

The US/Canadian Discrepancy

Good day, It’s no secret the US economy is thriving while Canada could barely be seen in the rearview mirror. Canadian employment figures for May show a loss of 7000 jobs, which represent a third decline in just five months. On the other hand, US unemployment figures continue to decline which reflects the US economy’s.

May 18

Sell in May, Go Away?

Good day, Unlike fundamental analysis which essentially aims to determine the “health” of a company, technical analysis aims to determine the direction of a stock or overall market by looking at trends and trading patterns. Many investors have heard the adage “Sell in May and Go Away”. This theory has been debated for as many.

April 20

Q1 Recap

Good day, This year’s first quarter started off strong with markets moving to new highs in January. February began with a significant pullback of about 10% and then rebounded only to experience something similar in March. The TSX60 and the S&P 500 both finished the quarter down (-5.8% and -3.12% respectively). The bond market didn’t.

April 6

Record Raise in First Canada Private Debt & Real Estate Pool

Good day, With the choppiness in the equity and fixed income markets over the last few weeks, it seems investors are recognizing that alternative asset classes are an important part of a proper asset mix. To the best of my knowledge, there’s currently only one pool in Canada which provides diversification amongst private debt, mortgage.

March 2

Morneau Backs Down

Good day, Unless you’ve been living under a rock, you’ve heard that the highly anticipated and controversial Canadian Federal Budget was released earlier this week. While the budget contained many proposals on an array of financial matters, many of our firm’s clients across the country are incorporated business owners and the tax treatment on corporately.

February 23

What the Heck is Factoring?

Good day, As mentioned in previous commentaries, while pension and endowment funds have been investing in alternative investments for many years, retail investors have been in the dark as private debt and equity hasn’t been easy to access in Canada. This is gradually changing with many sources estimating this investment space could double over the.

February 9

Why Are Global Markets in a Correction?

Good day, As I type this, North American markets are hovering around correction territory. The definition of a market correction is a 10% decline or more from the peak and the S&P 500 is showing a 10.4% decline, The Dow Jones 10.8% and the TSX a 9.19% decline as I type this. The definition of.

February 2

Good News is Bad News

Good day, A number of years ago I entitled a particular Finish Line commentary “Bad News is Good News”, as the then regular news of poor economic data kept driving up stock prices as investors felt confident the US Fed would keep interest rates low. This week, I’ve flipped the title to “Good News is.

January 19

Crocodile Investing

Good day, In a couple of past writings, I covered what I continue to believe is a fascinating phenomenon – the impact psychology and human behaviour have on financial markets. We have an institutional working relationship with Mawer Investments based out of Calgary. They wrote a great piece entitled “Worth the wait: crocodile investing” and.

January 12

2017 Recap

Fellow readers – Happy 2018! Corporate earnings, equity markets, and job growth all moved up in 2017 and in addition to having a good year, the last quarter of 2017 was one of our strongest on record. The S&P 500 (the broader US market) finished the year with a 19.42% return but this was somewhat.

December 21

A Holiday Wish

Friends, Where has the time gone? We’re just a few days away from Christmas and a few more from saying goodbye to 2017. I, for one, love this time of year. I love seeing my children’s excitement at 6 am on Christmas day, how involved my wife gets in decorating and preparing for the various.

December 8

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.

NEWER OLDER 1 2 5 6
August 3

Strong Earnings Continue

Good day, A flurry of earnings reports came out last week for many of the companies we hold. Boeing, Constellation Software, Align Technologies, Mastercard and Old Dominion Freight Lines all had solid earnings reports, although not all of them responded favourably. Facebook was the exception to this positive earnings pattern. Although FB posted solid year.

July 13

Solid Income In A Rising Rate Environment

Good day, While pension and endowment funds have invested in private debt for decades, the large majority of Canadian real estate investors have no exposure to alternative asset classes. The Rockridge Private Debt & Real Estate Pool is Canada’s first retail multi provider portfolio solution focusing on asset-based lending, factoring, mortgage investment corporations and real.

June 29

Willoughby Investment Pool Continues Its Climb

Good day, Our most widely used portfolio pool, the Willoughby Investment Pool, was up approximately 4.25% from the beginning of the year to the end of last week, bringing the 1-year return to 17.55%. Micron Technology reported earnings on Wednesday last week and once again beat earnings expectations, while revenues increased 40% YoY. This news.

June 15

The US/Canadian Discrepancy

Good day, It’s no secret the US economy is thriving while Canada could barely be seen in the rearview mirror. Canadian employment figures for May show a loss of 7000 jobs, which represent a third decline in just five months. On the other hand, US unemployment figures continue to decline which reflects the US economy’s.

May 18

Sell in May, Go Away?

Good day, Unlike fundamental analysis which essentially aims to determine the “health” of a company, technical analysis aims to determine the direction of a stock or overall market by looking at trends and trading patterns. Many investors have heard the adage “Sell in May and Go Away”. This theory has been debated for as many.

April 20

Q1 Recap

Good day, This year’s first quarter started off strong with markets moving to new highs in January. February began with a significant pullback of about 10% and then rebounded only to experience something similar in March. The TSX60 and the S&P 500 both finished the quarter down (-5.8% and -3.12% respectively). The bond market didn’t.

April 6

Record Raise in First Canada Private Debt & Real Estate Pool

Good day, With the choppiness in the equity and fixed income markets over the last few weeks, it seems investors are recognizing that alternative asset classes are an important part of a proper asset mix. To the best of my knowledge, there’s currently only one pool in Canada which provides diversification amongst private debt, mortgage.

March 2

Morneau Backs Down

Good day, Unless you’ve been living under a rock, you’ve heard that the highly anticipated and controversial Canadian Federal Budget was released earlier this week. While the budget contained many proposals on an array of financial matters, many of our firm’s clients across the country are incorporated business owners and the tax treatment on corporately.

February 23

What the Heck is Factoring?

Good day, As mentioned in previous commentaries, while pension and endowment funds have been investing in alternative investments for many years, retail investors have been in the dark as private debt and equity hasn’t been easy to access in Canada. This is gradually changing with many sources estimating this investment space could double over the.

February 9

Why Are Global Markets in a Correction?

Good day, As I type this, North American markets are hovering around correction territory. The definition of a market correction is a 10% decline or more from the peak and the S&P 500 is showing a 10.4% decline, The Dow Jones 10.8% and the TSX a 9.19% decline as I type this. The definition of.

February 2

Good News is Bad News

Good day, A number of years ago I entitled a particular Finish Line commentary “Bad News is Good News”, as the then regular news of poor economic data kept driving up stock prices as investors felt confident the US Fed would keep interest rates low. This week, I’ve flipped the title to “Good News is.

January 19

Crocodile Investing

Good day, In a couple of past writings, I covered what I continue to believe is a fascinating phenomenon – the impact psychology and human behaviour have on financial markets. We have an institutional working relationship with Mawer Investments based out of Calgary. They wrote a great piece entitled “Worth the wait: crocodile investing” and.

January 12

2017 Recap

Fellow readers – Happy 2018! Corporate earnings, equity markets, and job growth all moved up in 2017 and in addition to having a good year, the last quarter of 2017 was one of our strongest on record. The S&P 500 (the broader US market) finished the year with a 19.42% return but this was somewhat.

December 21

A Holiday Wish

Friends, Where has the time gone? We’re just a few days away from Christmas and a few more from saying goodbye to 2017. I, for one, love this time of year. I love seeing my children’s excitement at 6 am on Christmas day, how involved my wife gets in decorating and preparing for the various.

December 8

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.

NEWER OLDER 1 2 5 6