Cutting Through the Noise
September 26, 2014
Our Small-Cap Fund currently holds 15 stocks and is sitting on a fair amount of cash. Wil Wutherich, the manager of the fund, gives a rundown of its positioning in a recent discussion with Tom Bradley. Wil also provides some colour on the fund’s energy holdings ...
Read MoreSeptember 24, 2014
U.S. stocks have been the sweethearts of the global equity markets over the past five years. Yet, they’ve gotten increasingly expensive in the eyes of our global equity manager, Edinburgh Partners Limited. EPL has reduced the portfolio’s exposure to the U.S. ...
Read MoreSeptember 22, 2014
We sat down with Gord O’Reilly and a high definition camera earlier this month for an update on the Equity Fund. Gord is a founding partner at CGOV Asset Management, the firm that manages the fund, and is the key decision maker for the portfolio. We ...
Read MoreJuly 15, 2013
It was an active spring in the capital markets, characterized by a spike in volatility, a run-up in bond yields and a dive in gold and mining stocks. Canadian markets had a rough quarter: the bond market (DEX Universe Bond Index) fell 2.4% - its worst quarterly decline in nearly two decades - and the stock market (S&P/TSX Composite Index) lost 4.1%. Global markets fared better, on balance, with many...
Read MoreMay 22, 2013
We caught up with Gord O’Reilly earlier this month for an update on the Equity Fund. Gord is a founding partner of CGOV (he’s the "O"), the firm that manages the fund. The portfolio has performed well over the last few years and we wanted to provide...
Read MoreMay 16, 2013
We met with Edinburgh Partners Limited’s Craig Armour recently for a thorough review of our Global Equity Fund. Craig is an investment partner at EPL and manages the fund. EPL’s investment strategy has been out-of-favour with global markets, and as such...
Read MoreApril 16, 2013
It was a strong start to the year for stocks around the globe, with the MSCI World Index gaining 10% (in Canadian dollar terms). U.S. and Japanese stocks were among the top performers, while Canada was one of the weaker performing markets (up 3%) as a result of its heavy weighting in gold and mining stocks. Bonds also had a positive quarter, albeit a much more modest one, led by a strengthening in corporate...
Read MoreJanuary 15, 2013
We’ve said it many times, but 2012 was another reminder that market returns don’t often match up with what we’re seeing in the headlines. In many respects, the economic news in 2012 was ugly. The U.S. grappled with the fiscal cliff, mounting debt and political bickering. The sovereign debt and unemployment issues is Europe lingered, China was dealing with slowing growth, and weak commodity prices were...
Read MoreOctober 10, 2012
Markets had a good quarter, with resource stocks rebounding. The Canadian market (S&P/TSX Composite Index) gained 7%, while the MSCI World Index rose 3% (in Canadian dollar terms). Japan was the laggard, as the market declined slightly. There were some positive developments in Europe regarding the region's debt problems, with the European Central Bank (ECB) stepping up efforts to tackle fiscal...
Read MoreJuly 12, 2012
Stock markets around the globe declined in the second quarter as investors focused on the ongoing debt saga in Europe. Bonds fared well as the yield on the Government of Canada benchmark 10-year bond dropped by roughly 0.4% and fell below 1.65% in early June to reach a new low (when yields fall, bond prices rise). Our funds held their ground for the most part and have provided strong...
Read MoreJune 5, 2012
There’s a heightened level of anxiety among investors these days. With key political decisions on the horizon in Europe, resource prices spiraling downwards and investment banks behaving badly yet again, people are understandably concerned. We spoke with...
Read MoreMay 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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