Thoughtful stories —
Modern thinking to guide your way.
Featured
Jul 24 - 202615 min read
Rethinking Fixed Income for Today's Post-QE Market
This paper argues that many of the assumptions embedded in traditional benchmark-oriented bond portfolios were products of a unique market regime that has fundamentally changed....
Op-Ed
Jul 23 - 20267 min readPGRX: In TTF (European Gas) We Trust
Despite the majority of commentary around the Middle East conflict revolving around oil price, one area that we continue to like that is an outsized beneficiary of the current conflict is European gas....
Market Ethos
Jul 20 - 20265 min readThe Eh-OK Consumer
The global economy is in good shape thanks to tech spending, fiscal stimulus, a manufacturing upturn and a spendy consumer. Let's check in on the Canadian consumer....
Market Ethos
Jul 13 - 20266 min readDividend Divergence
For years, Canadian dividend strategies moved together. Since 2021, that single channel has split into many. ...
Market Ethos
Jul 06 - 202611 min readRise of the Market Technician
Fundamentals tell you what something is worth. Price tells you what the market is willing to pay for it right now. We go deeper on where the CFA and the CMT agree, and where they don't....
Portfolios With a Purpose
Jun 30 - 20266 min readDear Diary, We Made a Trade
A trade journal helps portfolio managers separate market outcomes from portfolio decisions — preserving the original rationale before hindsight has a chance to rewrite it....
Op-Ed
Jun 29 - 20267 min readStrait of Hormuz V2.0 / Portfolio Update
Navigating a shifting macro backdrop — Iran tensions easing, rates rising — the fund holds ~25% cash and stays nimble. Precious metals and energy exposure is being right-sized, while copper remains a high-conviction, long-term hold....
Market Ethos
Jun 29 - 20266 min readIt’s Not Us, It’s You
With the USD surging and CAD sitting at 70 cents, almost every factor — oil, growth, inflation, yields — has turned USD bullish at once. ...
Op-Ed
Jun 25 - 20265 min readWhat is Alternative Fixed Income, and Why Does It Matter Now?
The tailwinds that carried fixed income for decades have shifted. Today's bond market demands a different approach....
Market Ethos
Jun 22 - 20268 min read