Blog: Cutting Through the Noise

Video: Global Equity Fund Update

Excerpt from Scott Ronalds's blog on May 22, 2012

Edinburgh Partners’ Craig Armour was in Toronto recently where Tom caught up with him to talk about the Global Fund. Topics of discussion include Europe, the U.S., the emerging markets and Japan. While the cinematography and sound are admittedly poor...

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Natural Gas

Excerpt from Scott Ronalds's blog on May 14, 2012

We’re in one of the greatest bear markets of all time. In natural gas, that is. The commodity’s price has fallen from over $10 per thousand cubic feet (Mcf) in July 2008 to about $2.50 today. Last month, it touched $1.90, representing a decline of roughly 85% from peak to trough. Natural gas is used to heat and cool homes and...

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Are Bonds the Safe Haven They Appear?

Excerpt from Tom Bradley's blog on March 27, 2012

This was the heading on a slide that Connor, Clark & Lunn showed us this morning during our quarterly review of the Income Fund. The chart (below) shows the path of a Government of Canada 10-year bond yield compared to the commonly-used indicator of inflation in Canada, the Consumer Price Index. After 31 years of declining...

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Manager Profile: Brian Eby (CC&L)

Excerpt from Scott Ronalds's blog on February 24, 2012

Morningstar published an article today on Brian Eby, the head of fixed income at Connor, Clark & Lunn. CC&L is the manager of our Income Fund and Savings Fund. Along with highlighting Brian’s background and experience, the piece sheds some light on...

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Video: Gord O'Reilly Discusses the Equity Fund

Excerpt from Scott Ronalds's blog on February 15, 2012

We recently stopped by CGOV's office to talk with Gord O'Reilly (the lead manager) about the Equity Fund. We discussed a number of topics, including CGOV's definition of core vs. opportunistic holdings, their strategy with respect to dividends, and what...

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Heavy Lifting with CGOV

Excerpt from Scott Ronalds's blog on September 7, 2011

We often remind our clients that they don’t need to do much once their portfolios are set up, as our managers do most of the heavy lifting. While it may sound like lip service, it’s a phrase that carries weight. In times of heightened volatility, such as the past two...

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Stock Update: Nalco

Excerpt from Scott Ronalds's blog on August 24, 2011

Nalco, the world’s leading water treatment company, recently entered into a merger agreement with Ecolab (a provider of cleaning, food safety and infection prevention products and services). CGOV, the manager of our Equity Fund, sold the stock...

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Global Equity Fund Performance Update

Excerpt from Scott Ronalds's blog on June 13, 2011

Our Global Equity Fund has had a poor stretch of performance since early 2010. The fund’s manager, Edinburgh Partners Limited (EPL), is the first to admit this. While they don’t manage the fund with a close eye on what the index is doing, any sustained period of under-performance...

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Commodity Prices Take a Breather

Excerpt from Scott Ronalds's blog on May 19, 2011

In Connor, Clark & Lunn’s latest outlook, they assess the recent pullback in commodity prices. After a sharp run-up that began in early 2009, many commodities have been in retreat recently. Silver has grabbed the headlines, falling over 30% since late April, but...

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A Quick Beer

Excerpt from Scott Ronalds's blog on April 18, 2011

The following is a recap of Edinburgh Partners Limited’s (EPL) investment in Carlsberg. It’s an example of a turnaround opportunity, which is a common theme in our Global Equity Fund. To re-state the obvious, the recession and credit crisis of 2008/09...

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What to do About Japan? Part II

Excerpt from Tom Bradley's blog on March 17, 2011

While it’s still premature to evaluate the impact that the tragedy in Japan will have on businesses and the economy, Edinburgh Partners (the manager of our Global Equity Fund) has conducted a preliminary assessment. Before addressing specifics, EPL notes...

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What to do About Japan?

Excerpt from Tom Bradley's blog on March 16, 2011

As the Japanese disaster unfolds, we are dealing with many cross-currents in the capital markets. The pictures, dramatic news stories and unknown nuclear dangers are all part of a mix that has the potential to create an overreaction by investors. In our case...

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