Monthly Message

The Wutherich & Co. Composite was up 4.2% in March. This compares with the S&P/TSX being up 4.0%.

Though March showed a small recovery, geopolitical and macro-economic factors continue to weigh on the markets and the Wutherich & Company Portfolio. Our way to counter that is to focus on the prospects of the individual names that we invest in. We have talked to most of our companies in the last few weeks after they reported their recent quarters. While they all feel some level of strain, few have experienced any serious impediments. While many of our companies face a mix of challenges, they feel that these can be surmounted and that they can continue to pursue long-term growth. After taking a hard look at all our numbers, some of our names are trading at the cheapest valuations that we have ever seen. Barring geopolitical disaster, we think that this sets us up for good long-term returns. It will just require a little patience to see us through these times.

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