How things change...


How things change - reflecting on our conversation from the end of October, we had observed:

  • “Over the past month, equity markets have faced renewed turbulence, far from the optimistic projections many held.”
  • “From a technical analysis standpoint, bonds appear to be in a severely oversold state. And if technical indicators have any significant utility, it's in highlighting potential reversals in market trends.”

The relentless rise of long-term bond yields and their impact on the markets in September and October, posed quite the conundrum. This scenario was especially challenging against a backdrop of weakening economic fundamentals. Over the past few years, market conditions have repeatedly tested our strongest convictions. This period was no different, seemingly defying our expectations that long-term bond yields should be declining, not rising. Transitioning into November, it would be an understatement to liken the market's shift to turning on a dime. Those bond headwinds, previously seen as an overextended pendulum swing, began to reverse course. Softening inflation and encouraging economic indicators provided the necessary momentum for equities, propelling the markets into one of their most robust months in recent memory. This turnaround, though sudden and vivid, echoes the sentiment we shared in that same commentary: “It's essential to remember that rapid market rallies can occur unexpectedly, underscoring the importance of staying aligned with long-term investment strategies and remaining prepared for all market conditions.” How things change - reflecting on our conversations a year ago, we were closing the chapter on a challenging 2022, uncertain about what the future held. It's a familiar feeling in the wake of a bear market, where the recent past can cloud our expectations for the future. Yet, time and again, we're reminded that the market does not march to a single drumbeat. It's an ever-moving pendulum, swinging between extremes, rarely in a predictable pattern. As we peer into 2024, I'm reminded of the late Charlie Munger's wise words about the unpredictability of short-term market movements:

“I think I'm pretty good at long run expectations, but I don't think I'm good at short-term wobbles. I don't have the faintest idea what's going to happen short term”

Who among us foresaw the twists and turns of recent years? From pandemic disruptions to unprecedented shifts in interest rates, the financial landscape has continually surprised us. This serves as a reminder of the perils of short-term forecasting and reinforces our focus on the long-term view. Despite the inevitable ebb and flow of market cycles, our long-term outlook is buoyed by optimism, fueled by the myriad of advancements we see in the years ahead. As innovation relentlessly shapes our society and economic landscape, we remain excited about the potential that lies ahead.


As this year draws to a close, We want to extend our heartfelt thanks to all of our clients for your continued trust and engagement. Wishing you all a joyful holiday season and a prosperous new year. Here's to embracing 2024 with optimism and a keen eye on the opportunities it brings. Cheers!

- Jack

Canada's New Dental Care Plan: A Significant Step Toward Accessible Oral Health

Canada's recent introduction of a new dental care plan marks a pivotal moment in public health policy, reflecting an increased emphasis on the importance of oral health as a key component of overall well-being. This transformative initiative is set to make dental care more accessible to a wider range of Canadians, breaking down the financial barriers that have historically restricted access to dental services.

As detailed in a report by CBC News, this plan is specifically designed to provide essential dental care benefits to low- and middle-income families. It represents a significant advancement in health equity, ensuring that essential dental care isn't a privilege but a right accessible to all. The policy aims to bridge the gap between healthcare needs and financial constraints, promoting a healthier, more inclusive society.

For a comprehensive understanding of this new policy and its implications, we invite you to explore the in-depth coverage provided by CBC News. Delve into the details of how this initiative is set to reshape the landscape of dental care in Canada and consider its potential impact on your and your family's health. Read the full article here.

2024 TFSA Contribution Limits Announced:

The Canada Revenue Agency (CRA) has set the TFSA contribution limit for 2024 at $7,000, reflecting adjustments for economic factors including inflation. This marks an increase from the 2023 limit of $6,500. For individuals who have been eligible since the TFSA's inception in 2009 but have never contributed, the total contribution room available in 2024 is now $95,000. It's important to manage your TFSA contributions carefully to avoid penalties associated with over-contributing. For any inquiries about your TFSA account, contribution room, or assistance in making contributions, feel free to contact us for personalized guidance.

Revolution on Wheels: Unpacking the Tesla Cybertruck Craze

If you, like me, have a Tesla enthusiast in your life, you may have heard about the recent launch of the Cybertruck. This vehicle has sparked widespread conversation due to its polarizing design. Its unique, angular appearance distinguishes it from traditional pickup trucks. Amplifying the excitement, over 1.9 million orders have been placed for Tesla's first pickup, and showrooms are drawing crowds of keen enthusiasts eager for a first glimpse.

This month, we feature an in-depth review of the Cybertruck. The video showcases Tesla's latest electric pickup, highlighting its distinct features and performance. Will the Cybertruck mark a pivotal moment, strengthening Tesla's position in the EV market? Dive into the Cybertruck Review to explore the potential of this groundbreaking vehicle as Tesla once again attempts to transform EV standards.