Cardinal Update – Feb 2021
Hindsight is 20/20 – A Lookback at an Unprecedented Year – Unprecedented was a term often used in 2020, and it’s hard to find a better word to describe the year. 2020 started out ordinary enough with many economies humming along, and the U.S. Presidential election was seen as the mostly likely event that could unsettle markets. Instead, we found ourselves facing down a global pandemic the likes of which the world had not seen since the Spanish Flu in 1918.
On March 11, the WHO declared a global pandemic just days after Italy went into a nationwide shutdown. Many countries soon followed suit with Canada closing the land border with the U.S. on March 18 and several provinces declaring states of emergencies.
Click here to read more: Cardinal Update – February 2021
DM Portfolio Commentary – Q4 2020
A year like no other – Last summer, life – or at least a marker for life – was discovered on Venus. Evidence that we may be sharing our solar system with other animate organisms would have probably been a headline grabber in any other year, but in 2020 the pandemic bound news cycle was simply too intense and congested to leave room for much else. Without warning, our collective thoughts, actions, and discourse were singularly consumed in a way that has not likely happened since the Second World War.
Setting aside the health and social consequences of the events of the past 10 months, the economic
impact has been profound.
Click here to read more: DM-Portfolio-Commentary-Q4-20
Cardinal Update – December 2020
The Great Adaptation of 2020 – 2020 has been an unprecedented year as the COVID-19 pandemic forced businesses to adapt to a rapidly changing environment.
Consumer-facing companies that rely on foot traffic in their stores have had to completely revamp their go-to-market
approach and investments have been made in e-commerce, curbside pickup, and delivery to ensure access to products for consumers.
COVID-19 has radically accelerated the digital transformation of retail and strong operators such as Canadian Tire and Alimentation
Couche-Tard have not only navigated the environment well, but are also stronger companies today than they were back in March.
Click here to read more: Cardinal Update – December 2020
DM Monthly Report – November 2020
WHAT WILL THE PANDENIC MEAN FOR ESG? – The widespread inclusion of environmental, social, and governance (ESG) factors in analytical models has been one of the most significant developments in investment management over the past decade and the current crisis may actually accelerate this push. Within the broad economy, a sharper focus on workplace safety and best practices, propelled by a vivid reminder of the connection between our health and our environment, could provide a positive legacy from an otherwise grueling year. At the same time, money managers will be increasingly asked to support and encourage this positive corporate behaviour.
Click here to read more: DM-Monthly-Report-Nov-20
