Cardinal Update – September 2024

A Double Dose of Good News – Bank of Canada cuts rates again as TSX hits all-time high.

Amid slowing inflation and rising unemployment, the Bank of Canada kicked off September by lowering its benchmark rate by another 25 basis points.

It’s the third quarter-point rate reduction in 13 weeks, bringing the country’s key interest rate down to 4.25 per cent as the central bank continues to walk an economic tightrope with inflation falling to 2.5 per cent and unemployment rising to 6.6 per cent.

Company Focus: Element Fleet Managment – The next time Amazon delivers a package to your door, thank Element Fleet Management for overseeing the vehicle that brought it to you.

Click here to read more:  Cardinal Update – September 2024

DM Monthly Report – Sept 2024

SMALL POWER – Partway through the summer, Sleep Country Canada was bought by Fairfax Financial, marking the fifth acquisition of a DM stock position within a 12 month span. The good thing about buyouts is that to convince target company management and shareholders to accept such deals, a substantial price premium is usually required and, as the accompanying table illustrates, recent bids for DM holdings have followed this rule.

Click here to read more:  DM Monthly Report – Sept 2024