2017

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 […]

2017

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 2017, […]

2016

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 given […]

2016

Take a Breather

Good day, Markets have cooled somewhat this week but have maintained last week’s post-election highs. Investors continue to show economic growth optimism given Trump’s infrastructure spending and tax cut promises. Janet Yellen of the US Fed spoke publicly this week and pretty much confirmed our belief that the Fed will raise interest rates in December. […]

2016

What a Ride!

Good day, The outcome of last night’s US presidential election came as a surprise to many around the world. It seems there were a lot of closet Trump supporters given his strong win. The surprise results sparked a global market selloff last night to the point where US Dow Jones futures were down some 800 […]

2016

Cliff Jumping

Happy Friday, On Lake Okanagan in BC, there’s a spot halfway down the lake where many go to jump off the rock formations into the lake. The cliff is about 25 feet high and ropes have been affixed on the opposite side to help swimmers climb to the jump spot. While it’s not overly difficult […]

2016

Stocks Are The New Bonds

Good day, Many of us remember the high-interest-rate environment of the 1980s where mortgage rates topped 18% and government bonds paid as high as 10-12%. Although this was a period of exceptionally high-interest rates, prior to the late 1990’s bonds were purchased to generate income and keep volatility low, while stocks were purchased for price […]

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