Market Ethos - The Labour Curveball Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Jan 11, 2023 Our team absorbs a lot of different economic/market views and opinions from a lot of different sources. We also do a ton of our own analysis. To put it bluntly, 2023 is lining up to be one confusing year. Inflation, the path of central banks, the economy... Read more
Investor Strategy: 2023 Outlook - Bear Market End Game Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Jan 11, 2023 2023 should start off decently as inflation comes down a bit more, partially alleviating the markets’ biggest fear. Plus, a little January effect could certainly help. However, less inflation will start to accelerate slowing corporate earnings. And the... Read more
Market Ethos - The year in review: Top 10 Market Ethos of 2022 Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Dec 21, 2022 It’s that time of year again when market activity subsides, and many investors enjoy their holidays. This year we authored 39 Market Ethos publications, not including the Investor Strategy editions that come out at the start of every month. As the year... Read more
Market Ethos - Data, schmata...what's in a number anyway? Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Dec 14, 2022 This is a big week, with the release of the latest U.S. inflation number. Expectations are for year over year Consumer Price Index (CPI) to continue to drift lower, falling from 7.7% in October to 7.3% in November. This decrease is already priced in,... Read more
Investor Strategy: Santa may have come early - December 2022 Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Dec 07, 2022 We are not buying it. This appears to be another bear market rally, and maybe it even makes it to the holidays or into 2023. With the S&P back to trading almost 18x forward earnings, which are being revised lower, the more this rally goes, the less sustainable... Read more
Market Ethos - Do we believe in a Santa Claus rally? Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Nov 29, 2022 The term ‘Santa Claus rally’ is a term coined over the years for a good reason. Data back over a century reveals that December has the highest probability of any month to be in the green for the TSX and S&P 500 – 77% and 76%, respectively. The average... Read more
Market Ethos - Kapow!! Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Nov 27, 2022 Well, that was a day! A better-than-expected U.S. CPI (inflation) print kicked off the largest one-day rally the market has seen since the 2020 pandemic bear. S&P 500 +5.5%, NASDAQ +7.3%, TSX +3.3% ... hell, even bonds +2.9%. For the S&P 500, this was... Read more
Investor Strategy: Road Not Taken - November 2022 Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Nov 10, 2022 The next few quarters will likely remain volatile in both directions. Fortunately, entry points today in either equities or bonds do offer a compelling 12-month outlook. In a year, inflation will likely have subsided to a degree. If a recession arises... Read more
Market Ethos - Defanging the FANGMAN Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Nov 01, 2022 2022 has not been a fun year to be an investor, an advisor, and – most definitively from personal experience – a portfolio manager. Inflation remains the market’s biggest angst, there is a potential recession of sorts on the horizon, and equity indexes... Read more
Market Ethos - No white flag just yet Published by Dolores Jandoc on Oct 25, 2022 After posting its third consecutive quarter of declines, the stock market has managed to stay slightly positive so far in October—despite bond yields continuing to climb. Both Canadian and U.S. 10-year bond yields posted new highs this past week with... Read more