Quarterly Newsletter

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

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 ...
2019 Q3 Newsletter
September 30, 2019
The third quarter (Q3) of 2019 witnessed more turbulence in the world economy and in equity and debt markets. Continuing uncertainty was generated by ongoing trade disputes between the United States and China. To read more, click here....
2019 Q2 Newsletter
July 31, 2019
The second quarter (Q2) of 2019 proved to be positive but challenging in equity markets.  After significant gains in equity markets in Q1 there were more modest gains in Q2. To read more, click here....
2019 Q1 Newsletter
April 30, 2019
The first quarter (Q1) of 2019 has witnessed a dramatic turnaround from the fourth quarter of 2018.  Equity markets performed extremely well with the TSX up 13.3% and the S&P 500 (US) up 11.5%. To read more, click here....
2018 Q4 Newsletter
December 31, 2018
The fourth quarter of 2018 has seen severe market volatility globally.  Both the TSX and Dow Jones Industrial Average declined more than double digits from peak levels seen in August and October (down 13.0% and 15.2% respectively). The TSX was down 8...
2018 Q3 Newsletter
October 31, 2018
Both economic and employment growth were strong in Q3 of 2018 and for the year to date. The much greater strength of the US economy is evident in both employment growth and the unemployment rate. To read more, click here....
2018 Q2 Newsletter
July 31, 2018
The North American economy continued its growth in Q2 adding 23,200 jobs in Canada and 632,000 jobs in the United States. In total for the first half of 2018 North American job creation totaled 655,200 jobs. To read more, click here....
2018 Q1 Newsletter
April 30, 2018
When faced with a negative quarter such as Q1 2018, one is wise to consider why long term returns matter.  Our long-term returns have been strong.  Our 19 years return is at 10% per annum which significantly exceeds our benchmark of 6.6% To read mor...