Monthly Message

The Wutherich & Co. Composite was up 2.8% in August. This compares with the S&P/TSX being down 1.6%.

Stutter Step during August? We have been talking about the Two Step in the last few Newsletters as it seems that the Wutherich Portfolio is taking two steps forward one month and two steps back the next. August should have been two steps back if this pattern held. But no, it advanced modestly. We say modestly because most of our companies have reported quarterly results in the last few weeks and for the most part, the results have been excellent, with their outlooks continuing to be strong. The response of their stock prices has been modest in comparison to the outsized gains in their operations. The disconnect is informative. Clearly, investor fears around geopolitics and the macro-economic environment are discouraging them from getting more positive about stocks, regardless of how well the companies are doing.

And now we head into September, a notoriously difficult month for stocks. Two steps back anyone? We still have plenty of cash left from the takeover of Points.com. We hope to use it to buy positions that become unduly cheap as a result of any sell-off.

To view the complete Monthly Message and Factsheet click here

Monthly Message The Wutherich & Co. Composite was up 7.5% in July. This compares with the S&P/TSX being up 4.7%. The Two Step continues (please read the last two Newsletters for context)! Our Calgary based clients would be so pleased, especially in July, the month of Stampede. We sit like wallflowers, at the edge of the […]

Monthly Message The Wutherich & Co. Composite was down 9.2% in May. This compares with the S&P/TSX being down 8.7%. Two steps forward, two steps back. Sometimes I hate being right (please don’t tell that to my wife) as we clearly experienced the latter part of this pattern in June. Last month, we wrote the above […]

Monthly Message The Wutherich & Co. Composite was up 7.8% in May. This compares with the S&P/TSX being up 0.1%. Two steps forward, two steps back. At least, that’s the way it feels. We have seen large monthly gains offset large losses in the Wutherich & Co. Composite for some time while little has changed […]

Monthly Message The Wutherich & Co. Composite was down 5.5% in April. This compares with the S&P/TSX being down 5.0%. Geopolitics and the macro-economy continue to create turbulent waters. While some of our companies are being affected by swirls and eddies, most are flowing along just fine. We don’t mean to be flippant. We take the […]

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 […]

Monthly Message The Wutherich & Co. Composite was down 3.7% in February. This compares with the S&P/TSX being up 0.3%. The Russian invasion of Ukraine, Covid, inflation, interest rates and the supply chain continue to impact the market and the Wutherich & Company Portfolio. While the major US indices have performed similarly to the Wutherich & […]

Monthly Message The Wutherich & Co. Composite was down 9.0% in January. This compares with the S&P/TSX being down 0.4%. Yes, down 9%. Russia, Covid, inflation, interest rates and the supply chain are all impacting the market. Covid and the supply chain are having specific impacts on some of our companies, often more so than expected. […]

Monthly Message The Wutherich & Co. Composite was down 1.1% in December. This compares with the S&P/TSX being up 3.1%. Happy New Year! December marked a quiet end to an exceptional year. At 34.3%, 2021 was the second highest annual return that we have had for the Wutherich & Co. Composite. A pandemic-free 2004 marked […]

Invitation Dear clients and friends, Please find attached the invitation to our upcoming “Wutherich & Co.’s Annual Update” virtual event taking place Wednesday January 26, 2022.   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 26 janvier 2022. […]