Monthly Message

The Wutherich & Co. Composite was down 0.1% in January. This compares with the S&P 500, down 5.0%, the DJIA down 5.4%, the NASDAQ down 7.9%, the S&P/TSX down 1.2%, while the BMO Small Cap Index was down 4.0%.

January ended flat for the Wutherich & Co. Portfolio. A round trip of sorts. It was down over 7% at one point, only to recover by month’s end. The various North American indices were down even more during the month, though they did not recover quite as well. At times like this, we find it is usually best to do nothing. Not like lie-on-the-beach-drinking-Gumbay-Smashes nothing. Rather, just monitor the portfolio for anything that gets excessively cheap to see if we can add to the position. Who knows what the future holds. What we can say is that the world will not stop turning and people will continue to need products and services. We believe that most of the names in the portfolio will continue to supply these needs and do so profitably. Ultimately, this will provide good investment returns in the long-term.

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