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 considerably over the last several weeks. All this while we head into what is traditionally the weakest time of year for financial market performance. The weakness has transmitted itself to our portfolio. We feel that most of our stocks are reasonably priced, and in some cases, outright cheap. While periods like this hurt in the short-term, they usually provide excellent long-term opportunities. Consequently, we are topping-up existing names and incorporating new ones while constantly checking our weaker stories for long-term viability.

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