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 […]
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 […]
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 […]
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 […]
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 investments you don’t own are often just as important as those you do. After years of strong performance, software stocks have had their largest non-recessionary drawdown in almost three decades. One exchange-traded fund (called the iShares Expanded Tech-Software Sector ETF), which is a basket of software stocks, is down nearly 25% so far this […]
In the world of behavioral finance, there is a well-documented phenomenon known as loss aversion. Nobel Prize-winning psychologists Daniel Kahneman and Amos Tversky found that the pain of a loss is psychologically twice as powerful as the joy of an equivalent gain. Statistically, most investors require at least a 2-to-1 gain to offset the emotional […]
This time last year, California was engulfed in devastating wildfires. Thousands of acres of property were destroyed, and it didn’t take long for fingers to point at Edison International (“EIX”). Consequently, the stock plummeted over 30% over a matter of days, wiping out almost $10 billion in the stock’s market value. The investigation into whether […]
