“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 guru Ben Graham, Mr. Credit Market’s mood went from […]
“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 posted negative results on the back of higher rates. The […]
“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 sometimes doing the ‘best’ […]
“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 Lynch’s term, ‘diworsification,’ in reflecting on the risks of diversification for […]
Show Me The Data | December 2018
“Only time will tell if it was time well-spent.” Jimmy Buffett With calendars flipping from December to January, we rang in the new year and bid adieu to 2018. For most portfolio managers and investors, this was not a sad farewell. Equities endured their worst performance in a decade, and there was little respite elsewhere, […]