Volatility Returns

 June 12, 2020 |Tim Corney
The right balance The reemergence of volatility has reminded us that the path of the economic recovery will be uneven, difficult to forecast, and may remain below its full potential for some time to come. Jerome Powell, Chairman of the U.S. Federal Reserve...
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An “I” shaped recovery for the labour market?

 June 05, 2020 |Tim Corney
A word on May's U.S. & Canadian job reports Remember how it was going to take years for hospitality to come back? People still want places to go and occasions to eat. The job numbers in Canada and the U.S. for May are multiples better than expected –...
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Who pays for all of this stimulus?

 May 29, 2020 |Tim Corney
As the market focus has shifted from the daily COVID-19 data towards the gradual reopening of the economy, a question that is coming up more frequently in conversations is, “who is going to pay for all of this stimulus?” The real question is, “how are...
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Vaccines & Canadian Bank Earnings

 May 22, 2020 |Tim Corney
Coronavirus update At a high level, the trends of the past few weeks have remained in place. Europe continues to improve broadly. As a result, countries in the region are gradually loosening an increasing number of restrictions and reopening more parts...
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The Coronavirus & Implications for Investing

 May 15, 2020 |Tim Corney
Coronavirus update We continue to see a mostly positive or declining trend in new global case counts this week. In Europe, trends are lower except for Germany and northern Italy. In Canada, most provinces continue to move in the right direction, with...
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Coronavirus, The Consumer & Shopify

 May 08, 2020 |Tim Corney
Consumer ripple effects and the coronavirus We have recently noticed a recurring area of conversation with clients, colleagues, and family members around the economic ripple effects of social distancing. The discussion goes something like this – "If I...
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Reflecting on April

 May 01, 2020 |Tim Corney
“If past history was all that is needed to play the game of money, the richest people would be librarians.” - Warren Buffett This week, we provide details on the Berkshire Hathaway online AGM and another update on coronavirus trends and the plans to reopen...
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Shifting to the Micro from the Macro

 April 24, 2020 |Tim Corney
E-tree campaign For anyone who may have missed our email from earlier this week, we have announced a partnership with Tree Canada, and will plant a tree in your honour through Tree Canada’s National Greening Program when you do any of the following: Enroll...
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Reasons for Optimism

 April 17, 2020 |Tim Corney
This issue of our market communication is starting off on a slightly different note. We wanted to take a minute to acknowledge and thank our entire team – Jeanine, Sharon, Theresa, Kristin - for all of the hard work they been putting in over the past...
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Addressing the Recent Market Strength

 April 09, 2020 |Tim Corney
A word on the recent market strength Readers that have been tracking with us weekly will be familiar with our ongoing discussion around the dynamics of market recoveries. In our March 27th letter we wrote: “Turning to the dynamics of recoveries – they...
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