Market Update

2017 4th Quarter Review

A year of surprises despite calm winds

The year that just ended was a very interesting one, largely defined by unexpected electoral results.  Messrs. Macron and Trump won their respective elections, and both caused jaws to drop during their first year in...

2017 3rd Quarter Review

U.S. and foreign markets march on

This last quarter, nature and politics have been in turmoil south of our border. To the North, risk is also on the increase—in the stock market. In fact, despite glowing index returns, results in general are down on the...

2017 2nd Quarter Review

 Technology, Then Everything Else

  • At home, all sectors of the S&P/TSX Composite index fell, producing a negative total return of -1.6% for this quarter, and of 0.7% for the year so far. However, we have been very cautious about the domestic market for...

2017 1st Quarter Review

Another Good Quarter

  • The equity markets had another good quarter overall. Most developed and emerging markets opened 2017 with positive results, showing a broad-based performance that was good to strong. Close to home, in the United States, the S&P 500...

2016 4th Quarter Review

A good year filled with surprises

The year that just ended was one of constant surprises. The Trump election, the British referendum, the Broncos’ Super Bowl win… all the pundits learned humility! For me, 2016 brought back to mind Donald Rumsfeld, or...

2016 3rd Quarter Review

A good year so far, despite the pundits

In spite of predictions – including our own – we sit higher at the end of this quarter than at the beginning. In fact, the year to date is proving to be much better than we had anticipated. However, this has only...

2016 2nd Quarter Review


For most of this second quarter of 2016, the markets were rather quiet and without any clear direction. However, the June 23 vote on the Brexit proved to be a historical date in the annals of British history. By a very narrow margin, Britain...

2016 1st Quarter Review

A Historical Rebound

 The pendulum swung both ways in the 1st Quarter 2016, as the S&P 500 plunged more than 10 percent to start the year before rebounding strongly in late February and March to finish in positive territory. The Canadian market and most...

2015 Year End Review

 White Nuckles!

As I am writing the epilogue to a challenging 2015, I am listening to the talking heads on business networks forecast “volatility” in the markets for 2016.

“Volatility” is a good word to use when you don’t have a clue. And believe me,...

2015 3rd Quarter Review

Just a Flesh Wound

Much to chat about this quarter. I do apologize for the length and technical details.