Monthly Perspectives

  • Second Half? (Perspectives – July 2017) July 4, 2017 - Second Half? With ETFs in Canada enjoying record net inflows (Est: +$15.5 Billion) in H1, 2017,  market volatility still remarkably tame, and a generally favorable market backdrop – the question is whether these conditions will continue to prevail for the rest of 2017. Naturally,  it will also be interesting to see what trends investors chose to latch on to with Continue Reading
  • Climate … Whaaat? (Perspectives – June 2017) June 3, 2017 - Climate … Whaaat?  Having left European leaders last week unimpressed, including in relation to article 5 and NATO, US President Donald Trump has now succeeded in drawing their ire – as he pulled the US out of the Paris Accord. Recent Developments: May Payrolls underwhelm – but June’s FED hike is still seen as in the cards, all the while Continue Reading
  • Against all Odds (Perspectives May 2017) May 3, 2017 - Against all Odds – Markets continue to defy the odds, high valuations in the US, rising geopolitical tensions in Asia, winds of war on the trade front (NAFTA) – and the ongoing rise of populism, notably in Europe. French Presidential elections held May 7th could – with a Macron victory – possibly given markets there further ground for embracing animal Continue Reading
  • Suspended Reality … (Perspectives – April 2017) April 5, 2017 - Suspended Reality … US Rates are headed higher; while elsewhere looking set to continue on their low or non-existent trajectory for longer still, yet the USD bullish stance of market participants has generally disappeared. US equities are consensus-wise considered pricey, the Eurozone just entered the twilight zone of post article 50 delivery uncertainty, as Britain’s PM Theresa May made good Continue Reading
  • Listen to Warren (Monthly Perspectives – March 2017) March 2, 2017 - Listen to Warren – Praising Vanguard’s Founder Jack Bogle in Berkshire’s latest annual report: “If a statue is ever erected to honor the person who has done the most for American investors, the handsdown choice should be Jack Bogle. For decades, Jack has urged investors to invest in ultra-low-cost index funds. In his crusade, he amassed only a tiny percentage of Continue Reading
  • Not in your best Interest (February 2017 Perspectives) February 5, 2017 - Not in your best Interest – Dodd-Frank Trump Rollback in the US; potentially derailed DOL; and here in Canada,  always a strong (and well financed – to be sure) lobby to push back against Regulatory intervention benefiting investors (incl. removal of conflicts of interest) … All-in: Financials / Banks stocks future (profitability) looks brighter, all the while the inherent “tax” Continue Reading
  • Defining 2017 … (Monthly Perspectives – January 2017) January 3, 2017 - Defining 2017 … – Less than 3 weeks away from the inauguration of President Elect Donald Trump, and at the beginning of a fresh new year, the question of what will define 2017 is likely foremost in the mind of many. Will it be reflation? Will it be managing to effect positive change and – in the case of the Continue Reading
  • Trump Melt-up & Strong Net Creates (Monthly Perspectives – December 2016) December 2, 2016 - Trump Melt-up & Strong Net Creates – Book-ended by a last minute OPEC deal even involving a Russian production cut (who would’ve thought…) and an early month game changing election of Donald J. Trump as US President come Jan 20th, 2017, Exchange Traded Fund assets in Canada sailed through CAD 110 Billion, with 70%+ of net creates headed into equities… Continue Reading
  • Deplorables … Entitled … (Monthly Perspectives – November 2016) November 2, 2016 - Deplorables … Entitled … – With the US Elections less than a week away, the denouement is fast approaching – but not without last minute twists and turns.  Earlier today, the latest development in the HRC e-mail gate saga featured former fugitive of US Justice (and since deceased, post being pardoned) Marc Rich… This likely will leave most “average” people Continue Reading
  • Not better … Not worse? (Monthly Perspectives – October 2016) October 4, 2016 - Not better … Not worse? Apparently Japan’s large manufacturers don’t see business conditions getting any better, and they don’t see them getting any worse. The caveat in the article suggesting this, is found in the “at least for now” that follows… In the case of Japan, the country’s challenges are the subject of frequent reviews, where this year’s Yen increase, Continue Reading