Welcome to 2024!!

2024? How did that happen?

Just yesterday I was in grade six playing scrub at recess. (Bonus returns if you know what scrub is… WITHOUT Googling it! ).

Well, 2023 was quite the ride in the markets, ups and downs and ups again thanks to a few critical factors. Of course, the big one is that inflation seemed to be tamed by rising interest rates and there was even some chatter the world’s bankers would be bringing them down. I think some of us forgot that many of those wonderful Blue Chips we hold have another name … Interest Sensitive Stocks! As rates go up these things come down … this has always been a fact of life, but it has been so long since rates went up that we kinda forgot. (I know, kinda is not a real word).

Yet another big deal that transpired just before the markets took their upturn is that the US finally dealt with their ongoing saga of assigning a Speaker to the House. If you understand the US political system, and more specifically how they pay for stuff, then you know how critical this role is. We just saw another huge spending approval go through this week … of course, the Speaker is taking some flack for that but once again it ‘speaks’ to how important that role is. (See what I did there).

Of course, that is the past and you will all be happy to compare your December 31^st numbers to those at the end of October. However, the question I get the most often is what do you think the next year will bring? For those of you that spoke to me in the last quarter of 2023 you might have heard me say that I have never been more bullish about the market in my career as I was between September and December. Yes, I was saying that before the market had its run. Of course, now that the market had such an uptick I may not feel quite as optimistic, nonetheless, I still see lots of room for better than average returns in the months ahead. Naturally, I must preface such a comment with saying that there are a zillion and one variables that might impact my optimism, for example is inflation really under control? Are interest rates really going to come down in the foreseeable future? Is Barbie really going to win an Oscar?

No need to hold onto your hats – the road will be bumpy, it always is, however, you follow our portfolio approach to money management. As the past has proven again and again, we can get through anything. You can do all those things that you always dreamed of doing in retirement.

That is your job this year!!! Get out that bucket list and start ticking things off!!!

 

Top Ten List

A few years ago, I made up a top 10 list of things to do that year… I’m confident that each and every one of you completed every last one of them! (Well, perhaps 2 of you did one of them) … nonetheless – here is my updated list … there may be repeats from the old list but that must mean they were great ideas!

10. Think of someone you don’t like (not me) and think of 3 good things about them.

9. Write a poem (or a song).

8. Pick up the phone and call someone you have been meaning to call for a very long time – just to say hello.

7. Read all of Paul’s Prose at least once this year.

6. Listen to a different news channel for at least one full week.

5. Make a snow angel (clothing optional).

4. Buy yourself some freshly cut flowers before the end of winter.

3. Try not to hate politicians … we need to get good people in those roles and if we keep hating them there will be fewer and fewer good people that want to do that thankless job. (Disagreeing is fine).

2. Refer seven rich people to your Portfolio Manager.

1. Spend money on something you think you can’t afford (before your kids do!)

I hope all of you had a great holiday season with family and friends and hopefully some little kids… something our Christmas has been missing for several years!

On the home front, Rosanna and I are about to go through some major arguments (oops, I mean we are doing renovations). Our kitchen, living and dining areas will be in shambles for a few weeks starting near the end of February … please wish us luck!

Leah has just started a new career – she wanted out of the hospital and after a long journey and several investigations into various alternatives she has hopefully found what she calls her Dream Job. She is now the Program Manager for Kindred Foundation. This foundation does so many wonderful things for cancer patients and their families. Leah is ecstatic to be a part of this amazing team.

Brad, is pursuing a new career of his own … he’s off to get an HVAC Designation … after lots of throwing options up in the air he landed on this ever-growing field – Dad is hoping at some point he focuses on Heat Pumps! Of course, he will be keeping his Window Cleaning business as a side gig and hopefully he will soon qualify to be one of my clients!!!

Kristin and Kevin are now officially empty nesters, with Liam having made the leap to leave home and test out his French in Montreal!