{"id":635,"date":"2021-12-02T16:24:46","date_gmt":"2021-12-02T21:24:46","guid":{"rendered":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/?p=635"},"modified":"2021-12-02T16:24:46","modified_gmt":"2021-12-02T21:24:46","slug":"december-2021-update","status":"publish","type":"post","link":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/2021\/12\/02\/december-2021-update\/","title":{"rendered":"December 2021 Update"},"content":{"rendered":"

Don\u2019t judge each day by the harvest you reap but by the seeds that you plant. \u2013 Robert Louis Stevenson<\/em><\/p>\n

Nearly all of our companies continue to produce new monthly highs, propelling our portfolio values into strong results for the year. Dominant investment themes across our holdings include dividend-payers, retail-focused financials, green commodities, Boomer demographic spending beneficiaries, and cyclical recovery stocks. Peeking into 2022, it is not unreasonable to consider that US mid-term elections will see interest rate volatility level out and inflation concerns subside, as incumbents look to get re-elected. We remain optimistic on market performance.<\/p>\n

New Videos<\/strong><\/p>\n

https:\/\/www.youtube.com\/watch?v=lED6NWYGyug<\/a><\/p>\n

Portfolio Manager Ben Kizemchuk discusses the Growth Portfolio returns and recent investments in more cyclical recovery stocks.<\/p>\n

 <\/p>\n

Model Portfolio Highlights<\/strong><\/p>\n

Growth Portfolio<\/strong>
\nIn November we bought a new position in Canada\u2019s largest natural gas producer, Tourmaline. The company boasts the lowest cost of capital in Alberta\u2019s Deep Basin, and is a leader in free cash flow growth in the sector. Tourmaline previously disclosed they will be issuing special dividends \u201cover the next several quarters, contingent on commodity prices and free cash flow allocation decisions.\u201d TOU has a relatively high amount of insider ownership as well, reinforcing the importance of returning capital to shareholders via special dividends. The shares are extending now towards the prior highs from 2014.<\/p>\n

American Growth Portfolio<\/strong>
\nIn November we bought shares of wholesale retailer Costco. A high quality and well managed business, I expect this to remain in the portfolio for a long time to come.<\/p>\n

Income Portfolio<\/strong>
\nWe made no changes to the portfolio in November.<\/p>\n

Small Cap Portfolio<\/strong>
\nIn November we purchased a new position in DeFi Technologies, a company that provides public market access to the booming decentralized finance market within crypto. In addition to running nodes and holding positions in existing DeFi protocols, the company also has an asset management division that creates new exchange traded products that synthetically track various assets.<\/p>\n

Across all portfolios I look for mispriced opportunities, considering only those with a significant margin of safety and minimal risk of permanent capital loss. After identifying such opportunities, patience is the most important factor in realizing our expected long term return.<\/p>\n

If you have any questions about your portfolio, financial planning or investments please be in touch. Click to book a meeting:\u00a0https:\/\/calendly.com\/bwk-wapw<\/a><\/p>\n

Thank you.<\/p>\n

Yours,<\/p>\n

Ben<\/p>\n

Ben W. Kizemchuk
\nPortfolio Manager & Investment Advisor
\nWellington-Altus Private Wealth\"\"<\/p>\n

Office: 416.369.3024
\nEmail: bwk@wprivate.ca<\/a>
\nBook a meeting<\/a><\/p>\n

Ben Kizemchuk offers full service wealth\u00a0management for high net worth Canadians including families, business owners, and successful professionals. Ben and his team provide\u00a0investment advice, financial planning, tax minimization strategies, and retirement planning.<\/p>\n","protected":false},"excerpt":{"rendered":"

Don\u2019t judge each day by the harvest you reap but by the seeds that you plant. \u2013 Robert Louis Stevenson Nearly all of our companies continue to produce new monthly highs, propelling our portfolio values into strong results for the year. Dominant investment themes across our holdings include dividend-payers, retail-focused financials, green commodities, Boomer demographic […]<\/p>\n","protected":false},"author":90,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_oasis_is_in_workflow":0,"_oasis_original":0,"_oasis_task_priority":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[14],"tags":[],"class_list":["post-635","post","type-post","status-publish","format-standard","hentry","category-market-commentary"],"_links":{"self":[{"href":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/wp-json\/wp\/v2\/posts\/635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/wp-json\/wp\/v2\/users\/90"}],"replies":[{"embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/wp-json\/wp\/v2\/comments?post=635"}],"version-history":[{"count":1,"href":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/wp-json\/wp\/v2\/posts\/635\/revisions"}],"predecessor-version":[{"id":636,"href":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/wp-json\/wp\/v2\/posts\/635\/revisions\/636"}],"wp:attachment":[{"href":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/wp-json\/wp\/v2\/media?parent=635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/wp-json\/wp\/v2\/categories?post=635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/wp-json\/wp\/v2\/tags?post=635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}