Quarterly Newsletter

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Read Through Our Latest News Posts To Gain Insights Into The Market.

2009 Q3 Newsletter
September 30, 2009
During the third quarter (Q3) of 2009 the strong rebound in equity markets continued. Accelerating growth in China and other Asian nations supported a rebound in copper, oil and other commodity prices in Q3. These commodity price gains aided Canadian...
2009 Q2 Newsletter
June 30, 2009
During the second quarter (Q2) of 2009 there was a strong rebound in North American equity markets. Promising signs of recovery in the economies of Asia led to a rebound in commodity prices such as base metals and oil. This aided Canadian equity mark...
2009 Q1 Newsletter
March 31, 2009
In the context of volatile and negative world equity markets, Canadian markets generally held their ground in the first quarter. Canadian equity markets outperformed those in the United States, losing only 3.0% versus 11.0 to 13.0% losses. Economic n...
2008 Q4 Newsletter
December 31, 2008
The fourth quarter (Q4) proved an extremely negative quarter capping the worst year in equity markets since 1931. The crisis in the US financial sector caused by sub-prime mortgage lending and the subsequent collapse of several major financial instit...
2008 Q3 Newsletter
September 30, 2008
The third quarter (Q3) was the most difficult quarter we have experienced since September 11, 2001 terrorist attack in New York City. There are market parallels between 9/11 and the current circumstances. Our portfolio dropped after 9/11 by 15.5% in ...
2008 Q2 Newsletter
June 30, 2008
The dominant economic factor in Q2, 2008 has been the rapid increase in energy, agriculture and fertilizer prices. More expensive food and energy will reshape the world economy and the way nearly all people live. There are profound implications for o...
2008 Q1 Newsletter
March 31, 2008
We are enduring difficult global economic conditions focused in financial markets that are impacting the investment environment. It has been a negative period for many of the positions we have favoured. We remain confident we will recover the gains t...
2007 Q4 Newsletter
December 31, 2007
The fourth quarter of 2007 proved even more turbulent than the third quarter. All of the major indices registered declines as the subprime mortgage lending default forced American banks and other financial companies to take huge losses. Actions have ...
2007 Q3 Newsletter
September 30, 2007
The third quarter (Q3) of 2007 proved to be extremely volatile. Two issues unsettled financial markets. Subprime Mortgage defaults in the United States became the trigger for volatility and negative markets in July and August. In Canada, concerns abo...
2007 Q2 Newsletter
June 30, 2007
The second quarter (Q2) of 2007 saw strong performance on both Canadian and American equity markets. The extreme volatility continued but stronger economic performance in both U.S. and Canada restored investor confidence. The fears of recession and p...