Monthly Message

The Wutherich & Co. Composite posted a 0.0% result in April versus the S&P/TSX being down 1.8%.

Markets were generally weak during April as investors sway with the ebb and flow of concerns around interest rates and geopolitics. The Wutherich & Company Composite posted somewhat better results due to the announced takeover of Hibbett Sports Inc. (HIBB-Q) by JD Sports.

We will be sad to see HIBB go after many years of ownership. We initially took a position in HIBB in November of 2001. Yes, that’s over 22 years ago! Though we did not own it continuously over this period, it does give you an idea of the investment time horizon that we strive for. With HIBB likely being taken out in the coming months, we will be adding one or two new names to the portfolio. Luckily, we have several ideas, though none of them on the US side. The US stocks that we follow are often of very high quality, but of very high price. Canada gets very little respect in the financial market these days, but, right now, we find that the Canadian names we follow offer a much better balance of quality vs. price than their US peers. Stay tuned. We hope to announce some new positions in the coming months.

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