We try to pass along interesting market observations when we see them. Often, what we and others see from the top down jives with what we are finding from the bottoms up or company level. It can also help put performance of different portfolios or strategies into context.
Relative to even a few months ago, we are finding more “one-off”...read more
I was interviewed by CI’s Monthly Review on the Cambridge Small & Mid-Cap Equity Suite (formerly known as the Growth Suite) for their August issue. There simply was not enough room to include the entire interview in the print version, so here is the full text, complete with additional examples and context...read more
As we get into the last few weeks of August, things will slow down (hopefully!) and people will be taking time out of the office. With this in mind, I wanted to share some of the most interesting and impactful books our team has read over the last year.
Am I Being Too Subtle? Straight Talk from...read more
The Bank of Canada's hawkish shift
In an interview with CNBC at the end of June, Governor Poloz communicated a surprisingly hawkish tilt at the Bank of Canada (BoC). The markets, unready for this degree of hawkishness, sent yields screaming higher. By the time the BoC raised its overnight rate 25 bps only a couple...read more
The most important concept in investing is that of risk. Without a perception and understanding of risk, valuing securities is impossible.
There is no universal definition of risk. However, for our clients, who are trying to compound wealth over time, we think of risk as...read more