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. Then it was the issue with North Korea that seemed to disappear as quickly as it arrived. Now, the disarray of the “Trump Teams”, the violence in Charlottesville, as well as, the recent terrorist attack in Barcelona are having an impact on investor sentiment.

This has been a negative influence on the markets with the TSX dropping 0.73%, the S&P 500 dropping 1.63%, and the tech-heavy Nasdaq declining 1.99% so far this month (to August 17th) (Source: SIA Charts). The Willoughby Pool has managed to hold up a little better as it declined just 0.32% in August (F-Series).

Headlines tend to move the market (up and down) in the short run, especially when market volume is light in the summer. Corporate earnings are what matter in the longer term and we have been seeing some very good results across the market, so hopefully we will see this translate into more positive results in the near future.

Have a great weekend,
Bill

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