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 bit of weakness is showing up in a few names though nothing appears to be a significant detriment to their long-term prospects.

We have recently added Propel Holdings (PRL-T) to the portfolio. We think of this as a similar story to goeasy LTD. (GSY-T), a position that we have held for many years. Like GSY, PRL is a sub-prime lender, though focused mostly on US borrowers and is strictly on-line. We think they have the ability to grow even more quickly than GSY which bodes very well for returns over time.

A strong US economy and hopes for interest rate cuts keep markets buoyant and willing to ignore a gloomy geopolitical environment. Regardless of what happens on the macro front, we continue to think that our companies are well positioned to thrive for years to come and that this should provide us with good long-term returns.

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Monthly Message The Wutherich & Co. Composite posted a 4.8% gain in February versus the S&P/TSX being up 1.8%. Strong performance in the Wutherich & Company Composite continued in February. We put this down to the strength of the names in our portfolio and their relative cheapness. Our names have started to report their most […]

Monthly Message The Wutherich & Co. Composite posted a 4.7% gain in January versus the S&P/TSX being up 0.6%. The strength that we experienced in our portfolio during 2023 has continued into 2024 but we always talk people down from getting too excited about short-term returns. Our portfolio companies continue to be in excellent health, which […]

Monthly Message The Wutherich & Co. Composite was up 4.0% in December. This compares with the S&P/TSX being up 3.9%. Thank you, Santa, for a great year-end rally which has taken us up 17.0% for 2023, handily outpacing the TSX at 11.8%. But Ho Ho Hold that idea. We are seldom in synch with what happens […]

Monthly Message The Wutherich & Co. Composite was up 10.3% in November. This compares with the S&P/TSX being up 7.5%. The Wutherich & Company Composite performed well in November with nary a mega-cap technology stock in sight. What it does contain are excellent small to mid-sized companies with reasonable valuations and good long-term prospects. Most just […]

Monthly Message The Wutherich & Co. Composite was down 0.8% in October. This compares with the S&P/TSX being down 3.2%. The Wutherich & Company Composite continues to hold up well in an otherwise weak market. The quality of the names in the portfolio, and their excellent value, have supported this performance. A recent example of how […]

Invitation Dear clients and friends, It will be good to see you again “live”! Please find attached the invitation to our upcoming “Wutherich & Co.’s Annual Update” hybrid event taking place Wednesday January 24, 2024.   Chers clients et amis, Ce sera bon de vous revoir en personne! Vous trouverez ci-joint l’invitation à notre prochain […]

Monthly Message The Wutherich & Co. Composite was down 0.7% in September. This compares with the S&P/TSX being down 3.3%. All things considered, the Wutherich & Company Composite fared well in September and very well over the last year. We put this down to the quality of the companies in our portfolio. Recent results for […]

Monthly Message The Wutherich & Co. Composite was down 2.4% in August. This compares with the S&P/TSX being down 1.4%. As we had mentioned last month, most of our companies reported their most recent quarters during August. We had a high level of conviction that most would continue to demonstrate the ongoing strength of their businesses. […]

Monthly Message The Wutherich & Co. Composite was up 7.8% in July. This compares with the S&P/TSX being up 2.6%. “Everything else” has made a bit of a comeback. Last month, we referred to how the market was focused on just a handful of mega-cap technology/Artificial Intelligence (AI) names and largely ignored everything else. We […]