Derrick's market commentary

“You gain more by not being stupid than you do by being smart. Smart gets neutralized by other smart people. Stupid does not” Phil Birnbaum As we close the first 100 days of the Trump Presidency, markets continue to price in most of the good initiatives...

While you can call the year 2016 many things but you cannot say it was boring! The year started with one of the worst selloffs in history and ended with a nice rally into year-end after the US election. And of course around mid-year, the UK voted to leave...

“Neither Hillary Clinton nor Donald Trump is electable, yet one has to win.” Unknown In my last letter I highlighted the two key developments that markets would need to navigate for the balance of this year which were the June UK referendum on remaining...

BREXIT! Like most everyone, I went to bed last Thursday night fairly confident that the UK people would vote to stay in the EU. Global markets also closed yesterday with an expectation of a REMAIN vote carrying the day even though the polls were pretty...

“The market is the most efficient mechanism anywhere in the world for transferring wealth from impatient people to patient people.” Warren Buffett Stock markets around the world started off 2016 in a very bad mood but for no apparent “new” reasons. The...

“2015 was another year of serial disappointment.” Bank of Canada Governor Stephen Poloz “It is tough to make predictions, especially about the future.” Yogi Berra For the fifth year in a row year, the Canadian stock market underperformed the US market...

Global markets finished Q3 on a low note with the TSE down just over 9% in the first 9 months of 2015. Fears over slowing global growth once again took center stage with much of the concern centered on China. As the world’s second largest economy, concerns...

“Nobody goes there anymore. It’s too crowded.” Yogi Berra I began my career at RBC Dominion Securities as an Investment Advisor 19 years ago next month. In that time, we have seen overly optimistic markets and excessively pessimistic ones and everything...

As 2015 got underway, the Bank of Canada surprised the entire world by announcing a 0.25% rate cut in mid-January. This came completely from left field and markets don’t like dramatic policy changes. The Bank of Canada cited the unprecedented oil price...