Market Commentary

It is on the strength of observation and reflection that one finds a way. So we must dig and delve unceasingly. – Claude Monet Markets I am pleased to report all model portfolios finished higher in March. And after what’s been a raucous year, I am equally pleased to report

The secret of change is to focus all of your energy not on fighting the old, but on building the new – Socrates Markets Our positioning for inflation is earning handsome returns, as the world and nearly all of North America is reopening for business. As I explained in my

In times of change, learners will inherit the earth, while the learned find themselves beautifully equipped to deal with a world that no longer exists. – Eric Hoffer Markets It is true that markets are at their most expensive levels in history now, but this doesn’t seem to be stopping the general

Therefore the Master takes action by letting things take their course. He remains as calm at the end as at the beginning. – Lao Tzu Markets We finished the year on solid footing, with many companies in our portfolios making new all-time highs. I am confident our best days are

You have power over your mind – not outside event. Realize this, and you will find strength. – Marcus Aurelius December capped off a most satisfactory year of healthy double-digit gains across the model portfolios. Nearly every one of our companies continue to make new highs into year-end, setting up

The greatest thing in this world is not so much where we stand as in what direction we are moving. – Johann Wolfgang von Goethe Markets November was a good month in the markets. My October prediction played out as expected, with stocks experiencing their best post-election performance on record. To

Portfolio Manager Ben Kizemchuk recounts the “Legend of the Lucky Hog Tooth”, about how a group of hog farmers got amazingly rich following a simple, and some say magical, investment strategy.

Portfolio Manager Ben Kizemchuk reviews the Income Portfolio, and discusses recent investments in utilities, infrastructure, and Canadian corporate bonds.

The thankful receiver bears a plentiful harvest. – William Blake Markets I’m pleased to report that as I write this, the Growth Portfolio is up over 10% for the year, and outperforming the S&P/TSX Composite Index by about 12%. Each of our model portfolios performed well in October, surpassing benchmarks.

Portfolio Manager Ben Kizemchuk reviews the Small Cap Portfolio, and discusses recent investments in People Corp (PEO) and Mesa Labs (MLAB).

Portfolio Manager Ben Kizemchuk discusses value investing vs growth investing, why it’s really the same thing, and offers a simpler framework.

Doesn’t expecting the unexpected make the unexpected expected? – Bob Dylan Markets With the US election on our doorstep about a month away, I want to share two thoughts on elections vis a vis markets: First, there is no evidence to suggest that one political party is ever better than

Ben W. Kizemchuk reviews the American Growth Portfolio and recent investments in Union Pacific and HubSpot.

In this brief video, Ben W. Kizemchuk discusses low volatility investing.

Wise to resolve, and patient to perform. – Homer Markets A number of indicators are pointing to solid economic performance, jointly supported by government spending programs, central bank easing, and what I would call a newfound spirit of public cooperation. Particularly, US new home sales, which has been an important

In this brief video, Ben W. Kizemchuk discusses the Growth Portfolio and provides an update on holdings.

A page of history is worth a volume of logic. – Oliver Wendell Holmes Markets I am pleased to report another month of positive performance from each of the four portfolio strategies. Notably, Canadian Growth continues to outperform the TSX Index by a substantial margin over the past twelve months.

In this brief video, Ben W. Kizemchuk discusses the Income Portfolio, his outlook on bonds, and economy.

Birds build nests because they cannot fly forever. – Matshona Dhliwayo Markets This month I watched three incredible stories unfold. First, a popular day trader pulled three scrabble letters out of a bag to form a stock symbol, which he and his hundreds of thousands of online followers bought without

The world breaks everyone and afterwards many are strong at the broken places. – Ernest Hemingway Markets I am pleased to report that as of the time of writing, the Growth Portfolio is now positive on a year to date basis, positive on a one year basis, and that all

  In this brief video, Ben W. Kizemchuk discusses his market road map and positioning for emerging trends.

Continuous effort, not strength or intelligence, is the key to unlocking our potential – Winston Churchill Markets I am pleased to report that the Growth Portfolio recorded its best month on record this April, up 15%, and that all mandates increased in value over the month, as of the time

  https://youtu.be/QK16rQT6Dso In this brief video, Ben W. Kizemchuk discusses recent performance, portfolio holdings, and three big picture themes for 2020.

We are more often frightened than hurt; and we suffer more from imagination than from reality. – Seneca  Widespread fear is your friend as an investor because is serves up bargain purchases. – Warren Buffett Markets I am pleased to report each of the four portfolios outperformed their benchmarks again