DM Monthly Report – Dec 2023
ELECTRICIFICATION CAN’T HAPPEN WITHOUT … TREES – Though the financial press would have us believe that the most important market drivers are all negative at the moment – geopolitical strife, punishing mortgage rates, stretched government balance sheets, pending recession – we also happen to be living in an era of rapid and transformative innovation.
FEATURE STOCK: Brookfield Infrastructure (BIP.UN) – BIP is a diversified owner of infrastructure assets, including utilities, transportation, energy, and communications businesses.
Click here to read more: DM Monthly Report – December 2023
DM Portfolio Commentary – Q2 2023
“Optimism often sounds like a sales pitch, pessimism sounds like someone trying to help you”. – Morgan Housel
As 2023 began, there were numerous reasons to be pessimistic, high inflation, plummeting asset prices, the economically important US housing sector was in a deep freeze, a looming recession, and a banking crisis. However, despite these concerns, the first half of the year saw significant gains in the S&P 500 and the NASDAQ Index, contradicting the bearish predictions. While central banks continue to tighten rates, underlying factors contributing to consumer inflation have decreased, and both the bond and equity markets seem to be taking note.
Click here to read more: DM Portfolio Commentary – Q2 2023
DM Monthly Report – Summer 2023
ABSTINENCE OR ENGAGEMENT? Nearly three years ago, DM launched its Environmental, Social, & Governance (ESG) Evaluation Framework, which has become an integral part of our analytical process. For a few reasons, we decided not to outsource this work to a third-party rating agency — as is common practice in the investment industry – and instead, developed our own proprietary in-house solution.
FEATURE STOCK: Dollarama (DOL) DOL shares have been a significant contributor to DM equity returns since we took our first position in 2014.
Click here to read more: DM Monthly Report – Summer 2023
Cardinal Update – May 2023
Dividends Shine A Light In Canada – Canadian investors who aren’t putting their money in dividend-paying companies on the S&P/TSX are missing out on 30 per cent to 40 per cent of their total return, according to new research from CBIC World Markets.
The report, entitled “It’s Raining Dividends in Canada”, found that dividends from Canadian public companies have increased by one-third since 2019 with most of that coming from sectors with “excellent track records of stable dividend contributions”.
Click here to read more: Cardinal Update – May 2023
