Earlier this month, Emera and Canadian Utilities announced a merger of equals in an all-stock transaction expected to close in 2027. Many of our clients have held shares in both Emera and Canadian Utilities for years. Under the terms of the deal, existing Emera shareholders will own approximately 60% of the combined entity, while Canadian […]
We frequently receive similar inquiries. If a question comes up for you, chances are others are wondering about it as well. Of the emails and phone calls we receive each month, here are a handful of questions we pulled from our conversations. What happens to my RESP if only one of my two children pursues […]
For much of this year, artificial intelligence has been the dominant theme driving markets higher. By boosting productivity, AI promises to help companies trim costs, widen margins, and scale output. Lately, though, the AI revolution is getting a second look. The massive data centres required to power AI are hitting a wall of local opposition. […]
By: Jeff Pollock 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 statistically posts a loss more often than a gain. Since 1930, September has delivered a median return of -0.4%. […]
Strategist Ed Yardeni coined the phrase “bond vigilantes” in 1983. It describes the bond market investors who sell government bonds to drive yields higher as a protest against inflationary government policy. Recently, we’ve watched these vigilantes emerge not only in the U.S. but in several places around the globe (Japan, France, and Germany). The 30-year […]
Dream Industrial REIT owns and operates a portfolio of several hundred industrial properties totaling over 75 million square feet across urban markets in Canada (62%), Europe (25%), and the U.S. (13%). Last quarter, the REIT raised its monthly distribution for the first time in 13 years. Investors currently enjoy a 5% annual yield, returning $500 […]
Buying stock on margin occurs when you borrow money to purchase securities. It’s called leverage because it magnifies your results in both directions. Warren Buffett has said “if you’re smart, you don’t need it; if you’re dumb, you shouldn’t use it.” For example, imagine you have $100,000 of your own money to invest but you […]
Asset bubbles occur when speculation and emotion drive prices far beyond their fundamental value. With the S&P 500 delivering double-digit gains in 2023, 2024, and 2025, it’s easy to see why some assume we’re in one today. While every bubble has its own backstory, they all follow a familiar pattern. Here are some of the […]
Health insurer UnitedHealth Group (“UNH”) has been one of the best performing stocks so far this year. However, it hasn’t been a straight line up. Following the release of a disastrous quarterly earnings report in April 2025, the market overreacted by crashing the stock price almost 30% in a matter of weeks, marking it a […]
Drivers in the Greater Toronto Area got a rude awakening at the pumps yesterday. Thanks to escalating geopolitical tensions in Iran, gas prices spiked by 8 cents per litre overnight, pushing the average price for regular fuel up to roughly $1.73 per litre, leaving many motorists feeling gouged at the pumps. Since the conflict in […]
Many have said “bull markets don’t die of old age; central bankers kill them.” The conventional wisdom is that once rates start to head higher, stocks are less attractive because the cost of borrowing becomes more expensive and investors are offered an income-producing alternative by the bond market. However, history says they are wrong. The […]
SpaceX shares made their long anticipated debut to the public market on Friday, June 12. The demand was unprecedented. Not only was it the largest offering in history after raising over $75 billion, but brokerage firm Charles Schwab also said it was the fifth most active day in their company’s 50-year history. SpaceX’s pre-open price […]
Yes, Canadian banks are trading at valuation multiples unseen in years. However, comparing these multiples to their historical valuations may not make all that much sense. The banking industry has changed drastically over the years. Decades ago, banks were mostly just mortgage lenders. They would take in deposits from savers, keep a very small fraction […]
Economists define a “technical recession” as two consecutive quarters of negative economic growth. After shrinking by 1.0% in the final quarter of 2025, the economy dipped an additional 0.1% in the first quarter of 2026. This latest contraction is minor, and it is a preliminary figure that will likely be revised upward or downward in […]
Alphabet (formerly known as Google) announced its plans Monday evening to raise cash by selling $80 billion in stock. We were surprised by the news, especially for a company that generates $165 billion in cash flow each year. Furthermore, they’ve only tapped the equity market twice before — once when it went public in 2004 […]
On October 19, 2026, Alberta will have a referendum about whether it should have a referendum to separate from Canada. The exact wording on the ballot for one of the ten questions will read: Should Alberta remain a province of Canada, or should the Government of Alberta commence the legal process required under the Canadian […]
With the market hitting record highs daily, finding compelling new opportunities at attractive entry points has become increasingly challenging. Brookfield Infrastructure (“BIPC”), which hit almost $70 as recently as March, has pulled back just about 25% the last several weeks to $53.34 today. (Disclosure: Clients, Jeff Pollock, and Sunni Schneider have a financial interest in […]
You’ve likely heard the old Wall Street adage that suggests you should “sell in May and go away”. The strategy sounds simple enough because it asks an investor to exit the stock market in early May and not return until the end of October to avoid a perceived summer slump. At Schneider & Pollock Wealth […]
Even after the Strait of Hormuz eventually reopens and Iranian tensions ease, it’s doubtful that the West Texas Intermediate (“WTI”) oil price will decline to its pre-strike level of $65. Instead, we expect today’s $98 price to settle in the $80–90 per barrel range. There are several reasons why we expect a higher floor for […]
The average price of gas at the pump for U.S. consumers is up 30% since the year began. Most of that occurred recently, following the strikes against Iran. If you follow the prediction markets, it doesn’t look very likely that the Republicans will win the House or even the Senate this fall. Current odds suggest […]
