Monthly Message

The Wutherich & Co. Composite was down 1.4% in December. This compares with the S&P 500, down 1.6%, the DJIA down 1.5%, the NASDAQ down 2.0%, the S&P/TSX down 3.1%, while the BMO Small Cap Index was down 2.7%.

December marked the close of another difficult year for the Wutherich & Co. Portfolio. This time we were not alone. The markets, in general, were weak. Low commodity prices, oil in particular, were a main culprit as ripple effects were felt throughout the world economy. While our direct exposure to the energy space in the Wutherich & Co Portfolio is less than 15%, many of our names have indirect exposure. Examples would be ZCL Composites, Parkland Fuel, Badger Daylighting and Stantec, which generate a portion of their revenues from energy companies. The market may be ignoring how strong the balances of their businesses are. And so, we are happy to own them and add more when we get a chance. With perhaps one or two exceptions, we feel that all of our names can survive a sustained weak environment and many of them will be able to grow. Consequently, we are optimistic on the long term appreciation potential of the portfolio.

Note: We have reclassified several of our stocks in our Portfolio Composition section. This has caused significant changes in the weightings that you will see on the next page.

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Monthly Message The Wutherich & Co. Composite was down 0.8% in November. This compares with the S&P 500, up 0.3%, the DJIA up 0.7%, the NASDAQ up 1.1%, the S&P/TSX down 0.2%, while the BMO Small Cap Index was down 1.3%. Resource stocks continue to be under pressure in what was otherwise a neutral month. […]

Dear friends and clients,   We would like to thank all of you who attended our presentation last night. Good food, good wine and great discussion. You made it a wonderful success! In addition, Wil is in Toronto from November 17 to 20th. If you would like to meet with him, don’t hesitate to call […]

Monthly Message The Wutherich & Co. Composite was up 5.4% in October. This compares with the S&P 500, up 8.4%, the DJIA up 8.6%, the NASDAQ up 9.4%, the S&P/TSX up 2.0%, while the BMO Small Cap Index was up 4.4%. We saw a small reprieve in October from the very difficult performance in the […]

Monthly Message The Wutherich & Co. Composite was down 6.0% in September. This compares with the S&P 500, down 2.5%, the DJIA down 1.4%, the NASDAQ down 3.3%, the S&P/TSX down 3.7%, while the BMO Small Cap Index was down 5.7%. September marked the end of the third worst quarter that we have had since […]

Invitation Dear clients and friends, Please find attached an invitation to our upcoming “Investing with Wutherich & Co.” event.   Chères clients et amis, Vous trouverez ci-joint une invitation à notre prochain évènement “Investir avec Wutherich & Co.”.   – Invitation PDF –

Monthly Message The Wutherich & Co. Composite was down 3.2% in August. This compares with the S&P 500, down 6.0%, the DJIA down 5.8%, the NASDAQ down 6.5%, the S&P/TSX down 4.0%, while the BMO Small Cap Index was down 2.5%. Markets continue to be spooked by macro-economic factors. This has brought stock prices down […]

Monthly Message The Wutherich & Co. Composite was down 6.3% in July. This compares with the S&P 500, up 2.1%, the DJIA up 0.5%, the NASDAQ up 2.8%, the S&P/TSX down 0.3%, while the BMO Small Cap Index was down 7.3%. The world has moved on from the Greek crisis for now and is focusing […]

Monthly Message The Wutherich & Co. Composite was down 3.0% in June. This compares with the S&P 500, down 1.9%, the DJIA down 2.1%, the NASDAQ down 1.6%, the S&P/TSX down 2.8%, while the BMO Small Cap Index was down 3.6%. Greece is the word, though we don’t believe the country’s debt crisis will have […]

Monthly Message The Wutherich & Co. Composite was down 1.2% in May. This compares with the S&P 500, up 1.3%, the DJIA up 1.4%, the NASDAQ up 2.6%, the S&P/TSX down 1.2%, while the BMO Small Cap Index was down 0.2%. Investors are obsessed with Technology again. To a lesser extent, they love healthcare. In […]