Monthly Message

The Wutherich & Co. Composite was down 5.8% in July. This compares with the S&P/TSX down 0.1%, the BMO Small Cap Index down 0.6%, S&P 500 (US$) up 2.1%, the DJIA (US$) up 2.7%, while the NASDAQ (US$) was up 3.4%.

There is no question, our portfolio was thrumped during July. Only one of our names reported negative news during the month. This makes it very hard to believe that our companies should be worth, collectively, 5.8% less than a month ago, especially since we don’t think that the portfolio was significantly over-valued in the first place. We usually don’t pay a lot of attention to the short-term, but we will be very interested in the next few quarterly reports from our companies. We will use these,  together with interviews with managements, to rigorously test our hypotheses for owning each of these names. From what we see right now, though the portfolio is not as cheap as at other times in the past (e.g. 2000-2002, 2008-2009, 2011), we do think that it will offer good returns over the next five to ten years.

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Monthly Message The Wutherich & Co. Composite was down 0.6% in June. This compares with the S&P/TSX down 0.8%, the BMO Small Cap Index up 0.1%, S&P 500 (US$) up 0.6%, the DJIA (US$) up 1.7%, while the NASDAQ (US$) was down 0.9%. July 2nd marks my 25th anniversary in the investment business and there […]

Monthly Message The Wutherich & Co. Composite was down 3.0% in May. This compares with the S&P/TSX down 1.3%, the BMO Small Cap Index down 2.1%, S&P 500 (US$) up 1.4%, the DJIA (US$) up 0.7%, while the NASDAQ (US$) was up 2.5%. I was reminded of an interesting acronym this month: FOMO. It is […]

Monthly Message The Wutherich & Co. Composite was down 0.4% in April. This compares with the S&P/TSX up 0.4%, the BMO Small Cap Index down 2.3%, S&P 500 (US$) up 1.0%, the DJIA (US$) up 1.4%, while the NASDAQ (US$) was up 2.3%. It is interesting to watch what is happening to Home Capital Group […]

Monthly Message The Wutherich & Co. Composite was up 3.2% in March. This compares with the S&P/TSX up 1.3%, the BMO Small Cap Index up 1.1%, S&P 500 (US$) up 0.1%, the DJIA (US$) down 0.6%, while the NASDAQ (US$) was up 1.5%. The Trump Bump, Trump Slump, Trump   ?  . How many alliterations […]

Monthly Message The Wutherich & Co. Composite was flat at 0.0% in February. This compares with the S&P/TSX up 0.2%, the BMO Small Cap Index up 0.1%, S&P 500 (US$) up 4.0%, the DJIA (US$) up 5.2%, while the NASDAQ (US$) was up 3.8%. The Trump Bump continues, at least in the US. While it […]

Monthly Message The Wutherich & Co. Composite was down 2.2% in January. This compares with the S&P/TSX up 0.8%, the BMO Small Cap Index up 2.0%, S&P 500 (US$) up 1.9%, the DJIA (US$) up 0.6%, while the NASDAQ (US$) was up 4.3%. The weakness experienced in the Wutherich & Co. Composite during January happened […]

Dear friends and clients, We would like to remind you that the 2016 RRSP period deadline is March 1, 2017. If you have not made a contribution to your RRSP account with Wutherich & Company in a while, now may be a good time to do so. Feel free to get in touch with us […]

Monthly Message The Wutherich & Co. Composite was up 0.9% in December. This compares with the S&P/TSX up 1.7%, the BMO Small Cap Index up 3.2%, S&P 500 (US$) up 2.0%, the DJIA (US$) up 3.6%, while the NASDAQ (US$) was up 1.2%. December marked the end of a good year for the Wutherich & […]

Monthly Message The Wutherich & Co. Composite was up 4.0% in November. This compares with the S&P/TSX up 2.2%, the BMO Small Cap Index up 1.8%, S&P 500 (US$) up 3.7%, the DJIA (US$) up 5.9%, while the NASDAQ (US$) was up 2.6%. November Trumped October’s strong performance for the Wutherich & Co. Composite. Our positions […]