DM Monthly Report

When In Doubt, Go To The Source – One of the most important steps in our equity investment process is the management meeting, as no amount of financial analysis can replace the insight gleaned from sitting with an executive team or having a one-on-one phone call with a CFO or company president. Recently, we put these efforts to good use with Canadian mortgage lender, Home Capital Inc.

Click here to read more:  DM-Monthly-Report-May-16

May Monthly Insight

Golden Cross – “A Golden Cross indicates that the upside momentum may persist.”

Canadian equities appear to have entered into a new stealth bull market with a cyclical rally apparently having begun on April 28, 2016. The potential reasons for this occurring are as wide and varied as the pundits’ opinions on whether or not there is a new bull market. Of course this is what makes a market; differing points of view and the gumption to stand up for your opinions and investing accordingly.

Click here to read more:  Monthly Insight – May 2016 – Golden Cross

DM Monthly Report

What about Valuations? – The plunge in stocks at the beginning of the year gave pessimists just what they were looking for: initial confirmation that markets are dangerously overpriced and in need of a big reset to bring prices back in line with earnings.  Since that time, however, the S&P 500 and TSX have recovered lost ground and by the end of March, both were already positive for the year.

Click here to read more:  DM-Monthly-Report-Apr-16

Q1 Portfolio Commentary

Follow the cash, forget about the noise – January was ugly. Crude oil’s merciless slide took it briefly below $30 a barrel, the Canadian dollar touched 68 cents against the greenback, and the S&P 500 suffered its worst start to a calendar year – ever. Not unexpectedly, this tempest summoned the usual parade of pessimists, many who’ve now been forecasting a market crash for well over half a decade.

Click here to read more: DM-Portfolio-Commentary-Q1-16-1