Portfolio Strategy Quarterly

Portfolio Strategy Quarterly I Q3 2025

Many of the risks that were top-of-mind at the start of 2024 are still here. Worries about deglobalization have turned into worries about global trade conflict. U.S. trade negotiations are ongoing, the Mag-7 stock shave, following the sharp sell-off in April, led a V-shaped rally in U.S. equities. And the risk of regional conflict today is higher than it’s been in the past four decades, as regional players try to fill the void created by increased U.S. isolationism, and tilt the geopolitical environment in their favour.

Portfolio Strategy Quarterly I Q2 2025

"When you blow at high dough” rings across the Canadian psyche and is probably as recognizable in
the Great White North as “we stand on guard for thee.” It’s a call to avoid acting impulsively or carelessly
when you have a lot riding on something, such as your life savings. It suggests a cautionary approach,
urging one to be patient and not overstep the bounds of what's appropriate at a given stage, like what to
do in the middle of financial-market volatility.

Portfolio Strategy Quarterly I Q1 2025

We live in an era where there is a great deal of uncertainty, which is driving a lot of investors to begin to climb the “wall of worry” I’ve always found that the best way to deal with fear is to put it front and centre and address it. 

Portfolio Strategy Quarterly I Q2 2024

Consider how Dickens’ A Tale of Two Cities so perfectly captures the spirit of our times. Hope versus gloom, stability versus disorder, prosperity versus suffering — such duality also captures the spirit of today’s financial markets.

Portfolio Strategy Quarterly I Q1 2024

Today, investors are like pilots. In the same way that pilots rely on numerous gauges and instruments to keep themselves in the air, investors rely on numerous data points to plot the path ahead, as well as the “altitude” of the business cycle and the direction the winds are blowing.