Monthly Message

The Wutherich & Co. Composite was down 0.3% in June. This compares with the S&P 500 (US$) up 0.3%, the DJIA (US$) up 0.9%, the NASDAQ (US$) down 2.1%, the S&P/TSX up 0.3%, while the BMO Small Cap Index was up 3.9%.

Gold stocks rule! At least for now. Several Canadian small cap indexes are composed of 20% or more of these glittering stocks. Brexit, with its unknowable consequences, may be behind this as the metal is considered a safe haven. Does this persist? Also unknowable. We have talked to a lot of people in the last two weeks who whip themselves into a lather when talking about the possible outcomes from Brexit. Many are convinced that the end is nigh! In 24 years managing money, one thing that I have learned above all else is that the end of the world is oft promised and seldom delivered. And so, it is best not to think about it. As always, we research and buy companies that we are comfortable with owning for years, even decades, regardless of what the political environment has to offer.

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