Monthly Perspectives

  • 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
  • Dreaded September (Monthly Perspectives – September 2016) September 5, 2016 - Dreaded September – And here we are: September. The month with the most challenging track record for markets, lined-up against obvious  near term hurdles such as uncertainties associated with the US elections, or with the execution of BREXIT. For the moment, if August was any indication, investors continue to take just about everything and anything in strides. Is that about Continue Reading
  • Counter intuitive (Monthly Perspectives – August 2016) August 3, 2016 - A counterintuitive reaction to the outcome of BREXIT – Saw markets rise in July, with the S&P 500 reaching all-time highs, as profits, expected to decline year-on-year, came in generally better than – lowered – expectations.  Expectations of additional stimulus and extraordinary measures aimed at boosting growth (which continues to disappoint – incl. latest GDP reading out of the US) Continue Reading
  • Britain – In? or … Out? (Monthly Perspectives – July 2016) July 4, 2016 - Britain – In? or unfortunately more likely … on its way Out? Last month title for Monthly Perspectives (More Normal? June 2016) in retrospect stands-out, as if anything, June failed spectacularly as far as delivering further Normalization. Not only do rate hikes now appear to have moved farther out, but on top of it, more stimulus figures squarely on the Continue Reading