It’s a boy

Well, it was certainly a weekend of excitement as my wife Jennifer and I spent the weekend in the Guelph General Hospital bringing our new son Thomas “Bowie” Henderson into this world. We are overjoyed that everyone is healthy, and our two daughters, Presley-Mae and Dilynn, were thrilled to have a baby brother home with them yesterday.

Child birth --- wow!

As I’m sure most of you will concur, the entire birthing journey is never smooth, and this weekend was no exception. It was a worrisome few day for a whole host of reasons, but Jennifer displayed the strength and perseverance I’ve become accustom too over the years.

The hospital was an eerie place to be at the moment but encouraging to see empty emergency rooms and empty halls – telling me that the community is taking things seriously at the moment. Our healthcare team was wonderful – despite all of the new protocol they are required to follow and uncertainty they are facing, I was enamored with how well they approached the challenges we had through the process and how calm, decisive and professional they all were – thank you to all those heroes on the front lines in healthcare at the moment, you are appreciated.

It was an emotional time, bringing a new life into a world of uncertainty, a world of changes.

Again, I’m excited to write this morning note for you as we head into what is surly to be another wild week. The opportunities are beginning to present themselves and in these notes I’m going to start to share with you my perspective on how we are preparing to prosper.

Remember this: we are not investing for days, we are investing for decades

This morning, reflect on this question…from the lens of your family and/or the lens of your business….what does 2022 look like??? This question is our guidepost that is driving our thoughts on portfolio management at the moment and should also be with you as you approach the ever-changing landscape.

Given that we are not investing for today, we are investing for tomorrow – what will be different when we are back to normal in 2022 and how were the plans you put in place now able to provide for you where you are going. Wonderful perspective

When you are able to focus on how much will be the same and see the other side of the valley, that, to all of us, is reassuring. While the global economy and financial markets are going to be challenged for some time and government leaders will have to make tough decisions, I believe we will make it through this and it’s my job to see the other side of the valley – know this, there’s opportunity on the other side.

As long-term investors, that’s what we already see……it’s just the terrain along the valley floor that we don’t quite know yet but, again, we are investing for tomorrow and the valley itself presents opportunities. Healthcare, technology, consumer stables…..all sectors holding up strong at the moment. We are also, for the first time, seeing compelling opportunity in energy, in financials and a number of other areas that have sold off significantly. Opportunity in the valley!

In the book I referenced in my previous note, James E Hughes Jr’s Family Wealth, he relates the story of one of Napoleon Bonaparte’s generals. General Lyautey was one of Napoleon’s most trusted advisor who is reported to have the most beautiful garden in France. Surveying the garden, the general points out to his gardener that they have no copper beech tree. The Copper Beech trees are one of the most resilient and the longest living trees in the world. The gardener responds….” General, it takes 150 years for a copper beech tree to mature and it can live for hundreds of years after that” General Lyautey responded quickly that “we’d better plant one today”

Heading into the week, lets ensure that we maintain the long term focus. As your trusted advisor, my focus is ensuring that we are not only able to cross the valley, but we are sowing the seeds of opportunity.

And….some advice to my new son Bowie….

As it seems sometimes the World Falls Down, its always important to be objective and take time to understand Where we are Now …and always remember the Golden Years are in front of us all. Turn and face the strange and although we can’t trace time, we can certainly embrace change and ensure we are prepared to prosper.

Some of you younger clients --- those are David Bowie references