Market Commentary

2023 exceeded the expectations of even the most optimistic investors, with the U.S. market rebounding by 24% thanks to the technology sector, and the Canadian market by 8%. Most of the growth has occurred in the last two months, fueled by hopes that interest...

Since our last commentary at the beginning of September, our scenario of a slowdown in the economy is now accepted by the market. After falling in September and October, the market rebounded strongly in November. Investors celebrated the latest economic...

The first 8 months of the year were very different from the previous 8 of last year. A year ago, investors had a very negative outlook, fearing inflation that was close to 8%, as well as a looming recession. We disagreed and believed that inflation would...

The year 2022 was a very difficult year for the financial markets; however, our portfolios outperformed their respective indexes by 10% to 15%. Equities fell by more than 15%, their worst year since 2008, while Fixed-Income fell by more than 10%. It was...