Your Kingsmill Wealth Management team met some very influential people this week (bonus points if anyone can guess which leader Avril met, and which one I did!)
Given our North American encounters with the former President and current Prime Minister, I thought I’d share the below chart as it highlights the importance of maintaining an investment strategy, for both Canadian and U.S. listed stocks.
Source - RBC Wealth Management, Bloomberg
As advisors and investors, we are constantly challenged with trying to determine whether it’s a good time to be invested in the market, or if it’s time to get out. Thus, I often reference the above charts when speaking with clients.
Yes, it makes sense to continue rebalancing portfolios in the context of new information. We buy and sell a variety investments given the performance and opportunities at any time. However, this is different than simply deciding to get out of the market altogether and waiting for better times. That’s why we constantly conduct meetings with clients to determine their risk levels, and to confirm that their long-term investment objectives are upheld. This planning is an essential component of managing portfolios over time. Timing the market has proven over time to be impossible. Owning great companies that are well run, with long track records of growth, however, is the cornerstone of growing investment wealth long term.
Just a quick reminder that the deadline for most Canadians to file their tax returns is April 30th 2023. Since April 30th falls on a Sunday, your return will be considered filed “on time” as long as the CRA receives it, or it is postmarked on or before May 1st 2023.
If you or your spouse or common-law partner are self-employed, you have until June 15th 2023 to file on time. Avril and I have been fielding requests from many of you, as well as your accountants for tax packages. Please continue to reach out, as we have a very quick turn-around time to provide any supplemental information required.
This week, RBC is hosting a fairly big golf tournament, the RBC Heritage at Harbour Town in Hilton Head, S.C. I’m still reeling from my awful forecast of Rory winning the Master’s last week, as he didn’t even make the cut! This week, I’m predicting that a Canadian, Adam Hadwin will win the RBC hosted event.
Have a great weekend,
JK