Growth Portfolio<\/strong> CDR stands for \u201cCanadian Depository Receipt\u201d. The Netflix CDR is backed by CIBC and is designed to track the performance 1:1 of Netflix common stock. The key difference is that the Netflix CDR is traded in Canadian dollars on a Canadian stock exchange, and comes with a currency hedge. So we get all the performance of Netflix stock, but without the currency exposure to USD. We see this as a positive, as we presently favour the Canadian dollar.<\/p>\n American Growth Portfolio<\/strong> Income Portfolio<\/strong> Small Cap Portfolio<\/strong> Across all portfolios we 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. If you’d like to add a friend or family to this email list, please let me know. Click to book a meeting: https:\/\/calendly.com\/bwk-wapw<\/a><\/p>\n Thank you.<\/p>\n Yours,<\/p>\n Ben<\/p>\n Ben W. Kizemchuk Office: 416.369.3024 Ben Kizemchuk offers full-service wealth management for high-net-worth Canadians including families, business owners, and successful professionals. Ben and his team provide investment advice, financial planning, tax minimization strategies, and retirement planning.<\/p>\n","protected":false},"excerpt":{"rendered":" The model portfolios are off to a strong start in January, with Growth up 6.57%, Income up 1.81%, American Growth up 10.62% and Small Cap up 3.94% as of the date of writing, January 24. Incoming data continue to support our thesis that a new bull market in stocks is underway. Our proprietary indicators signaled […]<\/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-758","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\/758","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=758"}],"version-history":[{"count":1,"href":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/wp-json\/wp\/v2\/posts\/758\/revisions"}],"predecessor-version":[{"id":759,"href":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/wp-json\/wp\/v2\/posts\/758\/revisions\/759"}],"wp:attachment":[{"href":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/wp-json\/wp\/v2\/media?parent=758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/wp-json\/wp\/v2\/categories?post=758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/wp-json\/wp\/v2\/tags?post=758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nIn January we purchased shares of Netflix CDRs (ahead of the company’s glowing earnings report). First we\u2019ll cover Netflix, then the \u201cCDR\u201d part\u2026 We see an opportunity here to own a solid business with growing revenues, growing cashflow and a growing subscriber base. The stock dropped over 71% from Nov 2021 highs into a bottom last May, and has been recovering higher since then in a very strong uptrend. The stock bottomed well ahead of the market (May vs Oct), a sign of NFLX\u2019s strength from deeply-oversold conditions. We think the shares could easily retake their old highs and keep growing over time.<\/p>\n
\nIn January, we bought the common shares of Netflix in USD, for the reasons outlined above.<\/p>\n
\nIn January we increased exposure to global infrastructure companies. Global infrastructure has regained a strong uptrend that we expect should carry over into the months ahead. The global diversification added by this holding helps balance the portfolio\u2019s return not just from global stock performance, but also in respect to global currencies.<\/p>\n
\nIn January we took a profit on Clairvest and reduced our size in KP Tissue to purchase new positions including Canada Goose and New Flyer Industries. Both stocks have gone through the wringer over the past several years and provide what we believe is an exceptionally cheap entry point for growing businesses.<\/p>\n
\nPortfolio Manager & Investment Advisor
\nWellington-Altus Private Wealth![\"\"](\"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/wp-content\/uploads\/sites\/57\/2020\/06\/ben.png\")
<\/p>\n
\nEmail: bwk@wellington-altus.ca<\/a>
\nBook a meeting<\/a><\/p>\n