{"id":915,"date":"2024-11-05T16:00:59","date_gmt":"2024-11-05T21:00:59","guid":{"rendered":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/?p=915"},"modified":"2024-11-04T17:56:38","modified_gmt":"2024-11-04T22:56:38","slug":"november-2024-update","status":"publish","type":"post","link":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/2024\/11\/05\/november-2024-update\/","title":{"rendered":"November 2024 Update"},"content":{"rendered":"

If you’d like to add friends or family to this email list, please sign up here<\/a>.<\/em><\/p>\n

Our Growth and Income model portfolios continued to reach new highs in October, building on recent gains.<\/p>\n

As we approach the U.S. election, we see a favourable market outlook regardless of the result. Volatility hedges have recently spiked, similar to levels seen near previous market bottoms in September 2022, February 2022, June 2019, and January 2015. These levels suggest the potential for a rally into year-end as election-related hedges unwind.<\/p>\n

Further bolstering our optimism,\u00a0economic indicators show solid growth momentum. The U.S. labour market remains resilient, even amid challenges like hurricane season and the Boeing strike. Incomes continue to rise, particularly in Canada, where lower-income households have enjoyed a 14 per cent\u00a0wage increase year-over-year\u2014more than offsetting higher interest expenses. With sustained income growth on both sides of the border, consumer spending appears poised to drive economic expansion. This growth is supported in two scenarios: either interest rates remain steady, encouraging spending, or they decrease, lowering debt service burdens\u2014both of which boost economic momentum.<\/p>\n

Government spending is further fueling growth. Although recent campaign promises mention deficit reduction, meaningful cuts are unlikely, especially given the limited authority of the executive branch and mid-term considerations for Congress. We expect spending will continue to flow into the economy, stabilizing inflation around the average government debt coupon rate.<\/p>\n

In line with this, our proprietary \u201cHope Index\u201d\u2014which measures optimism in consumer expectations\u2014has hit an all-time high. This surge points to a generational shift from pessimism, driven by rising incomes among Millennials and Gen Z and wealth gains for Boomers. This dynamic is setting the stage for potential substantial gains in equities as sentiment improves.<\/p>\n

\"\"<\/p>\n

As we look ahead, we continue to emphasize high-quality stocks that are well-positioned to benefit from ongoing government outlays, credit expansion, and increased optimism in the market.<\/p>\n

In closing, we thank our clients for the trust and capital inflows received recently. We believe this favorable environment presents substantial growth opportunities, and we invite you to share in this success by introducing friends and family to our portfolios. We are committed to helping all clients achieve their financial goals.<\/p>\n

Model Portfolio Highlights
\n<\/strong>Growth Portfolio <\/strong>No changes in October.
\nAmerican Growth Portfolio <\/strong>No changes in October.
\nIncome Portfolio <\/strong>No changes; we continue to hold a diversified basket of U.S. and global high-quality stocks.<\/p>\n

Our approach targets opportunities with a significant margin of safety with minimal risk of permanent loss. Patience remains essential in realizing long-term gains.<\/p>\n

For questions about your portfolio or to schedule a meeting, please contact us. 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@wellington-altus.ca<\/a>
\nBook a meeting<\/a><\/p>\n

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

 <\/p>\n

Performance reporting disclaimer:<\/u> Performance results reflect the returns of each representative model portfolio. Returns are calculated using each model portfolio\u2019s monthly performance, including changes in securities values, and accrued income (i.e., dividend and interest), against its market value at the closing of the last business day of the previous month. Performance results are expressed in the stated strategy\u2019s base currency and are calculated on a net of fees basis. Individual account performance may materially differ from the representative performance history set out in this document, due to factors such as an account’s size, the length of time the strategy has been held, the timing and amount of deposits and withdrawals, the timing and amount of dividends and other income, and fees and other costs. Investors should seek professional financial advice regarding the appropriateness of investing in any investment strategy or security and no financial decisions should be made solely on the basis of the information provided in this document. This is not an official statement from WAPW. Please refer to your official WAPW statement for your specific performance numbers.<\/p>\n","protected":false},"excerpt":{"rendered":"

If you’d like to add friends or family to this email list, please sign up here. Our Growth and Income model portfolios continued to reach new highs in October, building on recent gains. As we approach the U.S. election, we see a favourable market outlook regardless of the result. Volatility hedges have recently spiked, similar […]<\/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-915","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\/915","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=915"}],"version-history":[{"count":1,"href":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/wp-json\/wp\/v2\/posts\/915\/revisions"}],"predecessor-version":[{"id":917,"href":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/wp-json\/wp\/v2\/posts\/915\/revisions\/917"}],"wp:attachment":[{"href":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/wp-json\/wp\/v2\/media?parent=915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/wp-json\/wp\/v2\/categories?post=915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/stonehavenwealthmanagement\/wp-json\/wp\/v2\/tags?post=915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}