Investor Strategy: Whistling past the graveyard Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on May 02, 2023 The good news is that even though there are signs that the economy is cooling, it does not look like it is falling over a cliff anytime soon. Three months, six months, or a year from now, is when things may look very different economically. And while... Read more
Market Ethos - Take a look under the hood Published by RWL on Apr 25, 2023 Take a look under the hood It’s been a good month, with the S&P and TSX bumping up against the top of a range that has existed for half a year now. The S&P 500 rallied 7.5% over the past month from the bottom created by the U.S. banking flare up. Sure... Read more
Market Ethos - Stuck in a moment Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Mar 30, 2023 If you take a step back from the day-to-day market gyrations, it appears we are stuck. In 2021, both the TSX and S&P rocketed higher on the back of continued stimulus, solid economic growth and low yields — the perfect combination for a very investor-friendly... Read more
Market Ethos - It's not 2008 all over again Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Mar 22, 2023 It’s fair to say that investors remember the last bear market the best; the one before that is a hazy memory, and if they have been investing long enough, the one before that is almost forgotten. This is part of recency bias. If we skip over the pandemic... Read more
Market Ethos - No crystal ball Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Mar 14, 2023 It is fair to say we spend a good portion of our time researching, thinking and talking about what will happen this week, next week, next month, and next quarter. Will inflation come back down? Is there a recession coming, and if so, how will it look?... Read more
Investor Strategy: Look through the zigs and zags Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Mar 08, 2023 Our view remains – markets can move higher on signs of softening inflation and clearly can move lower on signs of more inflation. Looking through the zigs and zags, we see the inflation data trend to the downside, just not in a straight, smooth line.... Read more
Market Ethos - Taking stock Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Feb 28, 2023 The S&P 500 is roughly where it was two years ago, around 4,000. Since then, it has visited 4,800 (+20%) and 3,600 (-10%) – clearly not a flat journey. The TSX has fared better, starting at 18,500, rising to 22,000, back down to 18,500 and then up to... Read more
Market Ethos - Theme of the story: Discipline Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Feb 14, 2023 Looking at a 100+ page report from a leading thematic fund management company discussing their thoughts on the big ideas for 2023, and it’s clear the future is exciting. AI, molecular diagnostics, orbital aerospace …. society is doing things that are... Read more
Investor Strategy: Rent this rally, don’t buy it (February 2023 ) Published by RWL on Feb 08, 2023 Despite the euphoric January market performance, we are not out of the woods yet. There was some optimism with central banks signaling a slowdown of rising rates or even a pause but there is still a good amount of time needed for those policy effects... Read more
Market Ethos - Balancing risk(y business) and return Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Feb 01, 2023 Investing is all about balancing risk and return to achieve your long-term goals. I think everyone understands returns (especially when they're negative), but what about risk? In finance, the most popular approach incorporates the volatility or standard... Read more