DM Monthly Report – Nov 2024

“NEW PRESIDENT, NEW MARKET” – With so few Americans left in the “middle”, the 2024 election was always going to be a polarizing event. And in the area that concerns us most — investment markets — the initial reaction was just as galvanizing, with the Dow leaping by more than 1500 points the day after votes were cast and soaring further in the sessions that followed.

FEATURE STOCK – Shopify INC. (SHOP) – As seems to be the case at least once a decade, SHOP (or rather our absence from SHOP) was previously the bane of DM Canadian Equity. Like Nortel, Research in Motion (aka Blackberry), and Vale ant Pharmaceuticals before it, SHOP was briefly the most valuable company in the TSX.

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