Summer Market Commentary, August 2019

Markets have exhibited a great deal of volatility over the last two months. It has not been uncommon for markets to fall by 400 points one day, and to rebound by the same amount the next. There are various explanations for these violent swings, ranging from trade war concerns to recession worries that are mostly … Continue reading Summer Market Commentary, August 2019

Who’s The Biggest Loser In The U.S. And China Trade War?

The trade war between the U.S. and China is on everyone’s radar but how important is it, really? Let’s be clear, in trade both parties should enjoy benefits and in war, there are no winners. So, in this war who is the biggest loser? Let’s look at the facts: The U.S. economy is roughly a … Continue reading Who’s The Biggest Loser In The U.S. And China Trade War?

August Update 2019, Disney vs. Netflix: Why We Own Disney

Walt Disney’s remake of The Lion King grossed $78.5 USD million on opening day, the biggest single-day gross for anything other than a Star Wars or Marvel movie. Pretty significant, and even more so on the heels of some disappointing second quarter results from Netflix. The two companies are often pitted against each other, especially now that Disney … Continue reading August Update 2019, Disney vs. Netflix: Why We Own Disney

June Update 2019, Hydra or Godzilla?

Every civilization had its own mythology, with mythical creatures that often sowed chaos. One of the more famous ones is the Hydra from Greek and Roman mythology. The Hydra had multiple heads (brains or ideas) and if you chopped off a head, two more would grow in its place. The Hydra was a tough beast, … Continue reading June Update 2019, Hydra or Godzilla?

May Update, 2019: Bull In A China Shop

“There must be some way out of here said the joker to the thief.” -Bob Dylan By the time this note reaches you, China and the U.S. will have gone to the next level of self-destructive behaviour causing their citizens to pay more for each other’s respective goods and services. I’m sure if you read the … Continue reading May Update, 2019: Bull In A China Shop

December Update, 2018: The Story Remains The Same

Stock markets around the world have entered the final stretches of the year in a foul mood. While fundamentals are the law in the investment business, the short run price action is all about confidence. Economic growth is strong. Corporate profits are at records. Confidence in the future is low. Markets always overreact to good … Continue reading December Update, 2018: The Story Remains The Same

November Update, 2018: When Markets Fall

Stock markets fall with a great deal more regularity than many care to believe.  Sometimes falling markets reflect investors’ collective fear that profits will fall generally across the economy. The causes of fear can be varied but usually involve concerns of rising interest rates slowing the economy. At other times, political events, trade friction with other … Continue reading November Update, 2018: When Markets Fall

An Open Letter to Prime Minister Trudeau

In 1980, your father’s government designed the National Energy Program (NEP). The goals of the policy as stated in the budget of 1980 were to be the  "security of supply and ultimate independence from the world oil market; opportunity for all Canadians to participate in the energy industry; particularly oil and gas, and to share … Continue reading An Open Letter to Prime Minister Trudeau