Quarterly Newsletter

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Read Through Our Latest News Posts To Gain Insights Into The Market.

2022 Q1 Newsletter
March 31, 2022
No doubt, war is a human tragedy. There are no winners. In the investment world, the Ukraine/Russian conflict has heightened uncertainties. The geopolitical conflict in Eastern Europe remains fluid. As investors, we need to study the implications of ...
2021 Q4 Newsletter
December 31, 2021
As we head into a new and hopefully more normal year, the fourth quarter equity returns, and 2021 yearly returns were double-digit strong. The Q4 return for the S&P 500 was up US$ +11% and the 2021 return was up US$ +28.7%. Earnings were up over ...
2021 Q3 Newsletter
September 30, 2021
The third quarter has come to a close and companies will soon begin reporting Q3 results. The three-month return for the S&P500 was US$ +0.6% and the YTD return was US$ +15.9%. The index was up 30.6% from its pre-COVID-19 closing high on Feb. 19,...
2021 Q2 Newsletter
June 30, 2021
As we enter the summer months of 2021, statistically we can say that the worst of the pandemic is behind us. In America, 67% of the population 18 years and over have received at least one dose and 58% are fully vaccinated. In Canada, 34% are fully va...
2021 Q1 Newsletter
March 31, 2021
It has been one year since the equity markets bottomed after one of the worst selloffs in modern history. To illustrate, the S&P500 fell 35% from its February 2020 highs to reach a low on March 23rd. Since then, the market has staged an equally i...
2020 Q4 Newsletter
December 31, 2020
No one could have predicted 2020 and it was a year that will be remembered for generations to come. As the coronavirus virus spread globally in March 2020, it transformed our lives, economies and political regimes. The response from health care worke...
2020 Q3 Newsletter
September 30, 2020
With temperatures dropping and leaves beginning to change, the Fall Season is officially upon us. Given a Global Pandemic, the financial markets have proved quite resilient so far. At the same time, the overall economic situation remains uncertain. T...
2020 Q2 Newsletter
June 30, 2020
In a previous note, we stated our view that the equity markets would look through the valley of pandemic uncertainties and discount 2021, and in some cases 2022 (after the vaccine), cash flows. As is the case for many of us personally, 2020 represent...
2020 Q1 Newsletter
March 31, 2020
Both emotionally and financially, it’s hard to imagine in such a short period of time the world could change so radically. This economic downturn is unlike any other we’ve seen before because it has been caused by a pandemic that is affecting the wor...
2019 Q4 Newsletter
December 31, 2019
Equity markets had a difficult 2018. The U.S. Federal Reserve was tightening and there was a broad concern that US growth was slowing. As the strongest economy in the developed world, this contributed to a sharp shift in sentiment that began in late ...