As we anticipated, last week was another wild week in the markets. The Dow last week posted its biggest weekly gain since 1938, surging more than 12%. The S&P 500 and Nasdaq are coming off their best week since 2009, after rising 10.3% and 9.1%, respectively. Nice to see a green week, but markets overnight have not been able to pick a direction and this week is lining up to be just as volatile.

We are however seeing signs that things are calming down (in the markets). The confidence spread between large institutions and the retail investor, sits in positive territory, which we like to see! Meanwhile, we are also seeing gold and fixed income starting to behave as they should, and insider buying has reached an 11-year high. An example, last week’s article in the Globe highlighting that Brookfield Asset Management is not only buying their own share, but shifting their focus from real assets (real estate and infrastructure) publicly traded debt and stocks --- institutional money agreeing with us, there’s opportunity amid uncertainty.

Brookfield Asset Management Shifting Investment Focus: https://www.theglobeandmail.com/business/article-brookfield-asset-management-shiftinginvestment-focus-to-publicly/

Preservation & Growth

As investors, it’s important to understand, we spend a lot of time thinking about the money we’ve made…..more time thinking about the money we wish we’d made (a source of fear of missing out)….and almost ZERO time on the money we haven’t lost.

It’s this last point that is the silent, invisible essence of successful investing.

As you know, over the last number of weeks, this unwavering focus on capital preservation has positioned us very well. Again, as we look beyond 2020 and across the valley we see opportunities to invest companies that are evolving and adapting to the way we spend, consume, transact and interact and through our disciplined patient approach there’s opportunity for investment growth in all market conditions and we have selectively started to be opportunistic,

Goals & Growth

As we all work from home this week, there is also tremendous opportunity for us to strengthen our connection with our families and also spend some time on self-reflection. My clients are accustomed to us consistently revisiting goals, as it’s our clients goals that drive our investment strategy. Today, like every day, we have time to reflect on what our goals are and how they may have changed – I encourage you to take time this week to revisit your goals;

i) Personal Goals

ii) Family Goals

iii) Professional Goals

As you’re going through this exercise it’s important to understand and give some thought to why these are your goals.

WHY we pursue something is as equally important as WHAT you pursue

I know…the question of WHY is certainly a philosophical question, but it’s a question that only you can answer and will help formulate the goals you’re striving to achieve.

Remember my reference to the various forms of capital: Human Capital, Intellectual Capital, Financial Capital and Social Capital I encourage you to use those same aspects of focus when establishing your goals – in my mind, growth is the ultimate purpose

The Pursuit of Growth: Human (individual) Growth, Intellectual Growth, Financial Growth and Social Growth

Like the online bookstore that has shaped the way we consume, we must be always evolving, adapting and growing, as it’s then we will find meaning.