Monthly Message

Merry Christmas and Season’s Greetings to one and all!

For November, the Wutherich & Co. Composite was up 5.0%.

With the US election now past, one level of uncertainty has been resolved, though, I think for many of us, a lot of questions remain. Trump 2.0 is on tap. Exactly what that means is anyone’s guess. Most of our companies have reported their most recent quarterly results which were generally, though not universally, strong. As we talked to the managements of our various holdings, they cited that election uncertainty had been holding back some of their operations. Some of this is now moving forward for them. Exposure to tariffs is limited, though several names could see some impact.

We continue to pick away at some favourite names. We recently added to our existing position in North American Construction Ltd. (NOA-T), an Alberta-based operator of heavy equipment. Customers are in the mining and heavy civil construction sectors. NOA operates in Canada, the US and Australia. In the past, the company was mostly focused on the Canadian oil sands. Over the last few years, they have diversified their customer base, evening out their exposure to any one customer or industry. The company is solidly profitable, generates a high return on equity, pays a small dividend and looks to be able to increase revenue and earnings for years to come.

You are invited to attend Wutherich & Co’s Annual Update, done virtually this year via Zoom, on January 22nd at 5pm EST. Please RSVP to Jean-Francis Archambault at 514-924-4438 or jf@wutherich.ca to get a link to the presentation.

To view the complete Monthly Message and Factsheet click here

Invitation Dear clients and friends, Please find attached an invitation to our upcoming “Wutherich & Co.’s Annual Update” virtual event taking place Wednesday January 22, 2025.   Chers clients et amis, Vous trouverez ci-joint l’invitation à notre prochain évènement virtuel “Mise à Jour Annuelle Wutherich & Co.” qui aura lieu le mercredi 22 janvier 2025. […]

Monthly Message The Wutherich & Co. Composite was up 2.2% in October versus the S&P/TSX being up 0.7%. Trick or Treat? We write this having recently survived Halloween and are waiting for the US election to take place. We’ll let you decide which outcome would be the trick and which the treat. Many of our […]

Monthly Message The Wutherich & Co. Composite was down 1.7% in September versus the S&P/TSX being up 3.2%. While the market continued to be very strong in September, the Wutherich & Co. Composite suffered a set-back with two of our names delivering very weak quarterly results and one of our names announcing an equity issue at […]

Monthly Message The Wutherich & Co. Composite was up 2.2% in August versus the S&P/TSX being up 2.9% (By the way, last month should have read 4.1% for the TSX, not 5.9%). Despite many twists and turns, the market and the Wutherich & Co. Portfolio continued to advance in August. The traditionally weak month of […]

Monthly Message Wutherich & Co. Composite was up 4.6% in July versus the S&P/TSX being up 5.9%. Broadening market? Lowering interest rates? We try not to make these calls, but it would be nice to see. The Wutherich & Company Portfolio would benefit from a broader market as we certainly don’t own US Mega-Cap Technology names. […]

Monthly Message The Wutherich & Co. Composite was up 0.2% in June versus the S&P/TSX being down 1.4%. While the last twelve months have been very strong for the Wutherich & Co. Composite, if we zoom out a little, the market and our portfolio have seen relatively weak performance since November 2021. Outside of a […]

Monthly Message The Wutherich & Co. Composite was down 0.7% in May versus the S&P/TSX being up 2.8%. “Sell in May and Go Away” certainly seemed to affect some of our stocks during the month. Recent quarterly results were reported for most of our companies and there was a mix of excellent numbers combined with […]

Monthly Message The Wutherich & Co. Composite posted a 0.0% result in April versus the S&P/TSX being down 1.8%. Markets were generally weak during April as investors sway with the ebb and flow of concerns around interest rates and geopolitics. The Wutherich & Company Composite posted somewhat better results due to the announced takeover of Hibbett […]

Monthly Message The Wutherich & Co. Composite posted a 0.5% drop in March versus the S&P/TSX being up 4.1%. The Wutherich & Company Composite definitely sat-out the March rally in North American markets. The companies in our portfolio finished reporting their most recent quarters during the month. For the most part, the numbers were good. A […]