Earlier this week I hosted an event that brought three of my favourite elements together: Stocks, Suits and Scotch. While I knew the three would compliment one another nicely, I didn’t realize just how much they had in common until I saw the event come to life before my eyes.
This segment featured my Head of Canadian Equities, Matt Barasch as he shared his thoughts on the past, current and future economic outlook. One of Matt’s key messages was to focus on the big picture. From his perspective bond yields are on a clear long-term path towards "normalization" as scars from the global financial crisis fade and while neither he nor anyone can say for certain what is going to happen over the next 12 months, he expects equities to rally with good activity and returns over the next 5 years. The key element here is that if the world’s largest economy (and just about everybody’s best customer - the USA) is about to enter a period of more sustained, faster growth, then most other economies, particularly those of Canada and Mexico, most of Europe, and greater Asia, will also fare better than they otherwise would.
Amid the volatility that may occur over the near term, investors should concentrate on the long term outlook, specifically on the possibility interest rates will go on moving higher over the next year or two. "Tapering" must have set a Google search record by now, expressing just how much investors are letting the News' day-to-day headlines (who by the way are in the business of selling you news about how we're all doomed) affect their long term investment goals. Reminding us that markets trend in cycles, Matt's best tip to being a good investor is to simply turn the noise off and hire a professional that you trust for the long term (like yours truly).
Click here for more commentary from Matt & his team and here for a special report on Canadian Banks & Housing.
The suits presentation by Alan Whitfield, Harry Rosen’s National Director and personal friend of Harry himself, was not only educational and interactive but practical to those in the audience providing tips on your staple suit must-haves (the gray & navy suit), what not-to-dos when it comes to your pants, blazers, shoes, accessories & fit and provided a sneak peak at the latest fashion trends & colors to look out for this season (believe it or not, the double breasted suit is making a come back!)
Harry Rosen, Canada's premier men's retailer let’s you express your personal style by exploring a wide selection of tailored clothing in men’s suits, sports jackets, and dress pants. In addition to men’s suits, Harry Rosen offers a full lifestyle complement of dress furnishings, casual wear, outerwear and footwear.
The scotch tasting and history was presented by none other than Canada’s finest Macallan brand ambassador, Marc Laverdiere. With a glass of scotch in his hand, Marc brought the stocks and suits presentations back full circle with the way Macallan makes their whisky. "Cut from the same cloth” Marc drew the parallel analogy of Macallan’s pure & natural approach to aging to Harry’s suits and the individualization of one’s style and taste.
People have different palates and can each discern different flavours – and the same can be said about your personal style and investment portfolio. Driven once again by the media, most whisky consumers believe an 18-year old is better than a 15-year old, and a 15 better than a 12, but it’s really all down to personal taste. Now, the Macallan, known worldwide for its innovative approach to whisky making, is introducing The Macallan 1824 Series, an exceptional new range of single malt whiskies, to Canada.
The Macallan 1824 Series includes four outstanding marques, Gold, Amber, Sienna and Ruby – three of which we had the pleasure of tasting on Wednesday night. Bob Dalgarno, The Macallan Whisky Maker, created The Macallan 1824 Series by selecting whisky from a broad range of casks chosen specifically for the natural colour, nose and character they impart after maturing in sherry oak casks from Spain – like a quality stock, becoming more valuable and rich over time.
Each profile is designed to celebrate a different occasion and whisky lovers will be sure to find their favourite - whether it is Gold on a summer day or Ruby by the fire on a cold winter night – without being distracted by a number on a label, just like when Matt told you to turn BNN off...
Enjoy the weekend.
Investment & Wealth Advisor
Chaaban Wealth Management Group