Cardinal – Q3 Portfolio Commentary
Market Outlook – The stock market performance of the third quarter of 2015 was another disappointment with most of the major global markets down from 7.0% to 12.0%. Again the U.S. stock market had the best results with the S&P 500 down 6.9%, the S&P/TSX down 8.6%, the German DAX-30 off 11.7%, the British FTSE-100 off 7.0%, and the French CAC-40 down 7.0%. From mid-April to the end of September, the major global stock markets suffered a severe correction. This was the first significant market correction since October 2011.
Click here to read more: Cardinal Quarterly – October 2015
DM Monthly Report
WELL THAT DIDN’T TAKE LONG … This summer, we wrote about how TSX performance has frequently be-come dominated by a single, mega-capitalization stock over the past 15 years. From Nortel to Potash Corp., to Research in Motion and, most recently, Valeant Pharmaceuticals, the heavy influence of these suddenly massive companies has distorted market performance on the way up and exposed index investors to unexpected risk on the way down.
Click here to read more: DM-Monthly-Report-Oct-15
Q3 Portfolio Commentary
Canada—why bother? When it comes to stocks, this is a sentiment we’ve heard quite a bit lately and given the Canadian investor experience in recent quarters, it’s certainly understandable: our stock market has signifi-cantly underperformed its US cousin; our economy has flirted with recession on the back of plum-meting energy prices; and the loonie has tumbled to levels that many of us thought had been left in the past.
Click here to read more: DM-Portfolio-Commentary-Q3-15
October Monthly Insight
Canadian Dollar Limbos Lower – The global financial markets are intertwined into one gigantic and convoluted web. Nowhere is this truer than with the relationship between currencies and bond spreads which are the difference between various countries’ interest rate.
Click here to read more: Monthly Insight – October 2015 – Canadian Dollar Limbos Lower
