Investor Strategy - Inflation Filed Under: Investment Services | Portfolio Management | Wealth Management Published by Dolores Jandoc on Nov 01, 2021 In this month’s Investor Strategy: Market Recap - Who’s afraid of October? Asset Allocation - Steady & sticky Equities - Inflation protection Fixed Income - Higher and flatter Portfolio Construction - Protecting the purchasing power of your portfolio... Read more
Market Ethos - G ‘n’ R Filed Under: Investment Services | Portfolio Management | Wealth Management Published by Dolores Jandoc on Oct 25, 2021 This week we have a look at the factors that discount the future into today’s equity prices. While Price Earnings ratios can give us a sliver of the picture, the big factors in determining those multiples comes in the form of corporate growth rates and... Read more
Market Ethos - Labour Intensity Filed Under: Investment Services | Portfolio Management | Wealth Management Published by Dolores Jandoc on Oct 18, 2021 Wage pressures and why people are quitting their jobs The headline inflation should continue to come back down as supply gradually adjusts to demand, but there are now signs of wage pressures building. Of course, some may recall the wage spiraling in... Read more
Market Ethos - Rarefied Air Published by Dolores Jandoc on Oct 13, 2021 The S&P 500 is trading well above its long-term trend, leaving other indexes like the European Stoxx 50 and the S&P TSX well behind. We have been writing for some time that there is “value” outside of the USA, but to date the trend has remained intact... Read more
Market Ethos - Q3 Earnings Season – no cakewalk Published by Dolores Jandoc on Oct 09, 2021 The lifeblood of the equity market is the earnings generated by the companies in the index. Sometimes the market pays more for these earnings (like these days), sometimes less. In this week’s report we take a look at the Q3 earnings season, the pressures... Read more
Market Ethos - Welcome to the backside of the inflation spike Published by Dolores Jandoc on Oct 09, 2021 The common inflation narrative from the Federal Reserve, other central banks, and just about every economist has been: this is “transitory.” Rightly so, as these price spikes have been exacerbated by a combination of supply chain issues, abruptly changing... Read more
Market Ethos - Brighest Before Sunset Filed Under: Investment Services | Portfolio Management | Wealth Management Published by Brett Gustafson on Aug 31, 2021 It is not just valuations that are pointing to more muted market returns going forward. Earnings growth is slowing, monetary policy is becoming less certain, the economic data is normalizing, credit spreads are at historical lows and the VIX is low too... Read more
Market Ethos - What's next? Filed Under: Investment Services | Portfolio Management | Wealth Management Published by Brett Gustafson on Aug 23, 2021 Investing is all about trying to figure out what is likely going to happen next. While a daunting task, sometimes what happens next is a bit easier to see. In this case, retail sales have exploded to unseen levels thanks to stimulus and changed behaviours... Read more
Market Ethos - Delta dealt a blow to oil Filed Under: Investment Services | Portfolio Management | Wealth Management Published by Brett Gustafson on Aug 16, 2021 Oil has been coming down as the delta variant spread cools demand expectations. Yet looking past this, the demand/supply balance does appear more constructive. Click HERE Read more
Market Ethos - Peak Margins Filed Under: Investment Services | Portfolio Management | Wealth Management Published by Brett Gustafson on Aug 09, 2021 Strong sales growth this past earnings season helped push profit margins higher, helping more than offset rising costs. As sales growth begins to slow next quarter, based on consensus forecasts, margins may drop quickly if cost pressures persist. Click... Read more