A History of our Client Communications


The "Our Blog" section of this site is a historical catalogue of our personally written weekly client emails.  Clients might find this database to be a useful reference, while visitors and potential clients might like to review the consistency and depth of our general messaging.  Weekly updates from December 2018 forward to present day are currently available.  Older vintages will be added as we're able.

 


 

Economic Troughing Continues, While a Recovery Awaits Further Confirmation Beyond Employment

Dec 06, 2019 |Nick Scholte

Specifically, the ISM indices might be signaling a "U" shaped troughing pattern, while employment achieves a lofty standard not seen since 1969. Meanwhile rhetorical bluster continues on the trade front - ignore the bluster.

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The Fed Doth Protest Too Much

Nov 29, 2019 |Nick Scholte

As the QE campaign it denies starting seems to be having a QE-like effect anyway. Also, next week is an especially important week for economic data. We are cautiously optimistic a trough in readings may be confirmed.

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Time to Take Some Profit in Apple, and Pare the Position Back to its Target Portfolio Weight

Nov 22, 2019 |Nick Scholte

And, with the proceeds, begin the slow and deliberate twist of our equity holdings toward a more defensive posture. As such, a small position in the regulated utility Fortis Inc. has been started.

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As Long Maintained, the U.S. and China are Both Motivated to Get a Trade Deal Done - Progress Continues

Nov 08, 2019 |Nick Scholte

Although by no means can a deal be considered a 'fait accompli'. Also, the slowdown in economic data looks like it may have troughed - we will continue to monitor closely.

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A Week Chock Full of Developments

Nov 01, 2019 |Nick Scholte

From accommodative central banks, to resilient economic data, our base case remains no imminent recession for the U.S.

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Progress Continues in U.S. /China Trade Negotiations, While the Fed Starts a "It's Not QE!" QE Campaign

Oct 25, 2019 |Nick Scholte

Whatever the Fed chooses to call its new bond purchase program, the effect will be much the same as past QE campaigns; also, some quick observations on the Q3 earnings season.

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Ultra-Low Interest Rates and the Challenge Posed to "Balanced" Portfolios

Oct 18, 2019 |Nick Scholte

Ultra-low yields are challenging both the construction and the expectation for traditional balanced portfolios. So too how investments should be allocated between registered and non-registered accounts.

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China and the U.S. Reach Partial Trade Deal

Oct 11, 2019 |Nick Scholte

While details are scarce at this juncture, the pact is likely to be nothing more than a de-escalation of tensions. Nonetheless, it is welcome news. We continue to believe more material agreements will be achieved ahead of the 2020 election.

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Soft Data Continues

Oct 04, 2019 |Nick Scholte

But recession still is NOT our base case

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Impeachment Headlines Push U.S./China Trade to the Background

Sep 27, 2019 |Nick Scholte

While a new (to me) data metric further makes the case that the U.S. will avoid recession; also, a quick note about Brookfield Infrastructure Partners LP, held in all managed client accounts, and my favourite single investment

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