Q2 2020 Wrap Up

Good day, The S&P500 (broad market) shot back up to January levels in Q2 on the back of central bank stimulus and better than expected unemployment numbers. Finishing the quarter, the S&P 500 (CAD) rose 15.79% and the TSX Composite gained 16.97%. However, behind the market surge triggered by governments and central banks, company valuations […]


Too Far Too Quickly?

Good day, The large discrepancy between the economic fundamentals and the stock market continues.  While we’re pleased that equities held in our client portfolios have recovered substantially, it’s important to recognize how far forward this market is looking.  Over 3 million jobs have been lost in the US, meanwhile, the S&P500 has climbed roughly 37% […]


Are Bonds Safe?

Good day, For years, we’ve been preaching that bonds can be extremely volatile and do not provide the “safety” that investors believe they do. Public debt markets can drop like equities and the period between February 20th and March 23rd is a good example of this. In roughly 20 trading days, traditional fixed income instruments […]


Do What Others Aren’t Doing

Good day, While COVID-19 continues to spread, governments around the world are taking drastic monetary measures to prop up their respective economies. This week, investors tried to comprehend the impact these events will have on global markets. While the masses did more selling than buying this week (some sales were forced sales due to margin covering), billionaire […]


Opportunities Like These Are Rare

Good day, Over the last couple of years, we preached the importance of being defensive.  Why? Because equity markets were expensive and in some cases overvalued. It generally takes a catalyst for markets to retract and this time around it was/is the Coronavirus. How were we defensive? As I said last week, we don’t react to negative markets […]


Let’s Put It Into Perspective

Good day, Unless you’re hiding under a rock, you’re seeing equity markets selloff around the world.  As usual, it’s uncertainty that markets hate.  While the message from China is that they’re having some success in containing the virus locally, the spread in other parts of the world has worried investors.  I don’t believe the market […]

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