Reports

How did Markets do? The 3rd Quarter report would have had a different feel if it was written in early September.  At that point Bonds were down, Canadian stocks were down, and with a strong rise in the Canadian dollar, US stocks were down in Canadian dollar terms. Fortunately the quarter ended on September 30th,…

Are Central Banks Starting to Hit the Brakes? On July 12th, the Bank of Canada raised interest rates for the first time in seven years.  While the pace of interest rate increases in Canada is likely to be slow and very gradual (0.25% increases at a time), it does reflect a significant change for the…

After a great first quarter for our clients, stemming from high exposure to U.S. stocks, preferred shares, and high yield bonds, our investment direction is shifting slightly.

10 Facts for 2017 and what it means to you For a 65 year old couple, there is a 90% chance at least one will live to age 80. For a 65 year old couple, there is a 48% chance at least one will live to age 90. Since 1926, average returns for the S&P500…

Executive Summary When looking at interest rates, currencies, real estate risk, Oil and the overall economy, the Canadian market is looking weaker than the U.S. market. We believe, in particular, that real estate risks are much higher in Canada than the U.S., and it is playing an important factor in our investment philosophy. As a…

Executive Summary Brexit, Trump and Terrorism.  Take all that together, and surprise, surprise, the markets went up.  In the second quarter of 2016, the Toronto stock index closed up 4.6%.  The DEX Universe Bond index closed up 2.6%.  The S&P500 US index in Canadian dollars closed up 1.9%.  All looks pretty good. Even leaving North…