August Update

Looking for Silver Linings in the Loonie – In recent months every conversation includes a comment or question about the value of the Canadian dollar. Questions like…  How low will be go?    How will it impact my investments?

A client who has been with Cardinal for any length of time knows that we can’t (and don’t) predict exchange rates. We estimate fair value to some extend, but with political, social, financial and economic factors all at play, it is a useless exercise to guess a market rate.

Click here to read more:  Cardinal Update August 2015

DM Monthly Report

A Market of One – Throughout our 15 year history, it has been surprisingly common for the S&P/TSX Index to become heavily influenced by a single stock.

Click here to read more:  DM-Monthly-Report-Jul-Aug-15.pd

August Monthly Insight

Canada – An Emerging Market?…..”Canadian stocks do have a far closer relationship with emerging market stocks, both currently and over time, than with U.S., European or even Asian stocks.”

Emerging market economies have generally undertaken economic reform programs that are designed to propel them to stronger and more sustainable economic performance, as well as producing greater efficiency and transparency.

Click here to read more:  Monthly Insight – August 2015 – Canada – An Emerging Market

Q2 Portfolio Commentary

Market Outlook – The second quarter was a bit of a dud for the stock market with the U.S. still the best performing market for the quarter.

Due to the continuing Greek financial crisis, most of the major European stock markets suffered corrections, after peaking in late April, to their July 7 lows.

Click here to read more: Cardinal Quarterly – July 2015