Each week, our team publishes a blog and webcast.
As contrarian investors, we look to invest in ideas that are temporarily out of favour. Until recently, real estate had been a contrarian investment. Not knowing the true long-term effects of work-from-home, many have sought to avoid the space, especially in a high interest rate environment. However, real estate comprises many subsectors – office, retail, […]
We expect the market to propel higher regardless of the Presidential Election outcome on November 4. Between 1952 and today, the market has almost always driven higher regardless of the President’s political stripes. There’s no question that the S&P 500 returns have been far superior under Democratic than Republican administrations. In fact, ever since Eisenhower […]
We often receive similar questions from different people. Our communication with clients makes us better stewards of capital. If one person is thinking about something, chances are that there are other people wondering the same thing. Of the many emails and phone calls we receive each month, here are four questions we pulled from our […]
Last month, we discussed common cognitive biases that many investors face. Dr. Jack Muskat joined our webcast to explain several psychological biases that investors often deploy—sometimes to their detriment. Your stock isn’t more valuable just because you own it (“the endowment effect”), nor should you place much reliance on the price you paid to buy […]
Last summer, in 2023, the engineering and construction company Aecon Group reported dreadful quarterly earnings. The company’s earnings report was so bad that the stock tumbled 16% the following day. The poor results were largely due to four construction contracts that were losing money with no end in sight. Specifically, the work was related to […]
It’s difficult to dispute the seasonal weakness that September historically accompanies. Many call it the “September Effect”. Going back almost a century, it’s the only month of the year when the S&P 500 quite regularly accompanies a loss. Since 1930, September has delivered a medium return of -0.6%. In fact, September has posted a loss […]
In July 2022, we made a block trade purchase to buy shares of Hudbay Minerals (“HBM”) for $4.77/share for suitable clients. Recently, we sold the position across the board for $10.46/share. HBM is a copper and zinc producer with assets in Peru, Canada, and the United States. We’ve all heard the reasons why copper is […]
We all use mental heuristics to simplify complex information. It allows us to make more efficient decisions. Cognitive biases can have a detrimental impact on our investments. Recognizing these biases, however, can mitigate the risk of making a bad decision. In this week’s webcast, we’re joined by psychologist Dr. Jack Muskat, an expert on this […]
Our definition of “contrarian investing” is to buy things temporarily out of favour, not to speculate on a very uncertain and unprecedented situation. Last month, we looked closely at Intel. While the stock price had fallen substantially from its glory days, including a 60% drop so far this year, it looked like it may be […]
If you’ve owned an airline stock before, or are considering buying one today, consider yourself brave. Without question, airlines can make for a decent trade, but they’re hardly ever a good long-term investment. Warren Buffett once said: If I’d been at Kitty Hawk in 1903 when [the first airplane] took off … I owed this […]
