Dec 7, 2018 | Monthly Commentaries
“In the short run, the market is a voting machine, but in the long run it is a weighing machine.” Benjamin Graham Although November marks the Day of Remembrance, for most credit managers it was a month they’d rather forget. To borrow an analogy from investment...Nov 8, 2018 | Funds, Monthly Commentaries
“Every time we do something great, he raises the interest rates.” Donald Trump To get the bad Hallowe’en puns and movie references out of the way, Red October offered investors more tricks than treats. The S&P and TSX were down over 6%, and bond funds...Oct 11, 2018 | Monthly Commentaries
“If you think your teacher is tough, wait until you get a boss. He doesn’t have tenure.” Bill Gates On the list of things not to lose, our jobs typically rank pretty high. That’s why, as our mothers encouraged us to, we come to work ready to do our best. But...Sep 11, 2018 | Monthly Commentaries
“I like putting all my eggs in one basket and then watching the basket very carefully.” Stanley Druckenmiller Last month, we looked at the trend in wealth management of constructing more diverse portfolios as a means of risk reduction. We even drudged up Peter...Aug 9, 2018 | Monthly Commentaries
“The idea of excessive diversification is madness.” Charlie Munger The route to creating and building wealth usually involves concentrated bets. Entrepreneurs notoriously put all their eggs (and often some borrowed ones) into a singular basket. Others pursue and...Jul 10, 2018 | Monthly Commentaries
“In football everything is complicated by the presence of the opposite team.” Jean-Paul Sartre As the calendar flips from June to July, it marks the midpoint of the year and the first weeks of summer (yeah). And while the temperatures in Toronto have...
