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Managed Portfolios – Quarterly Rebalancing Commentary June 2020

Thursday, July 16, 2020

The S&P/TSX Total Return Index ended the month of June up 2.46%, marking its best quarter in more than a decade (Toronto Star). Investors were focused on the speed of economic recovery from the Covid-19 crisis rather than the lagging economic data showing record temporary declines. Market sentiment also continued to thrive for a third consecutive month in June, as the new COVID-19 infections in Canada were not accompanied by as many hospitalizations and deaths. In terms of monetary policy, the Bank of Canada held…

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Do March and April Showers bring May Flowers?

Monday, May 25, 2020

Over the last 20 years, I have lived through many market events, and each one has been unique and has felt unsettling, with the last major shockwave being the 2008 Great Financial Crisis.  The current Covid19 pandemic is also very unique in that the financial markets were shocked and reacted initially to a health event rather than to an economic event. My Concerns It seems that Economics 101 has been thrown out the window. Normal economies function on basic laws of supply and demand, that…

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Managed Portfolio Quarterly

Friday, April 10, 2020

Q1 2020 Commentary As I contemplate what to communicate today, I am struck by the sheer severity and breadth of how much the world has changed in such a short time.  In a period of a few months, the world has succumbed to Covid-19, and seemingly every facet of life has been impacted.  To date, more than 850k have contracted the disease and the WHO estimates a 3.4% mortality rate as of Mar 3 (Worldometer, 2020, para2). Although China has reported encouraging data that reflects…

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