What We Offer Clients

Statistically, It’s Rare to See 2 Consecutive “Down Years” in the Market (3 minutes)

Many investors were eager to close the book on 2022. After all, the S&P 500 declined by 19.4%, its fourth worst year since the end of World War 2. In case you’re wondering, 2008 (-38.5%) was the worst, followed by 1974 (-29.7%), and 2002 (-23.4%). What will 2023 bring? Well, if history is a guide, […]

Western Copper is an Obvious Takeover Target

If you’ve owned Western Copper and Gold (WRN), it goes without saying that it’s an exciting stock to follow. We bought a position for clients in October (where suitable) and the stock is up about 25% since then. We like the company for three distinct reasons: good asset, good geography, and good management. Good Asset […]

Estee Lauder is a Beauty!

We’ve followed Estee Lauder for several years, always wanting to own the stock but never able to find a good entry point. In early November, the company cut its outlook for 2023 due to China’s zero-COVID lockdowns, a stronger U.S. dollar, and tighter inventory management – all temporary macroeconomic problems that will eventually resolve. The […]

December is Historically a Strong Month for the Market

As Labour Day approached earlier this year, we wrote that September is historically the worst-performing month in the market. We expected volatility throughout the month and sure enough, that’s exactly what we received. Using that same data, December is historically a strong month for the stock market. Since the 1970s, the average return during December […]

Go Tax Somebody Else

Before the end of this calendar year, our firm will have looked at each client’s non-registered account to minimize a future tax bill. If a non-registered account has recorded realized capital gains at any point during 2022, there will be tax consequences next spring. To offset these taxes, we always consider selling securities with unrealized […]

Go Tax Someone Else

Before the end of this calendar year, our firm will have looked at each client’s non-registered account to minimize a future tax bill. If a non-registered account has recorded realized capital gains at any point during 2022, there will be tax consequences next spring. To offset these taxes, we always consider selling securities with unrealized […]

Start Thinking About China’s Reopening

Chatter that China is planning to reopen its economy following 3 years of a zero-COVID policy is welcome news to the market. Beijing eased quarantine requirements for close contacts and international travellers last week, a step towards reopening. In response, China’s yuan currency rallied while the Hong Kong Seng Index jumped 7%. The lockdowns, which […]

Hudbay Minerals Is Up 50% Since Our July Purchase, But We’re Not Selling

This past summer, we wrote to our clients and said: “A Bank of America survey … concluded that stock allocations were at their lowest level since 2008 and that cash balances have not been this high since October 2001. With sentiment this weak and pessimism so high, we took advantage of several bargains to benefit […]

The Mechanics of Converting Your RSP Into a RRIF

If you’re 71 years old, it’s time to convert your Registered Retirement Savings Plan (RRSP, or RSP – they’re both the same thing) into a Registered Retirement Income Fund (RRIF) by the end of the year. Once converted, you must start withdrawing funds from your RRIF each year and no later than the year after […]