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MD Blog

  • Interest Rates Are on the Rise. Here’s Why.

    As expected, the Bank of Canada (BoC) raised its overnight interest rate on Wednesday, January 17, from 1% to 1.25%. In the official announcement and the monetary policy report released on the same day, the Bank cited more robust economic growth here in Canada and abroad as important factors in the decision. The economy is living up to its potential From 2008 until mid- last year, Canadian economic growth had been sluggish according to the ...

  • Interest Rates on Hold. Why, and What Does it Mean for You?

    Last Wednesday, December 6, the Bank of Canada (BoC) held firm on its target for the overnight interest rate at 1.0%, as was widely anticipated by the market. The Canadian economy is currently on hold, positioned between forces that could lead to expansion or further inactivity. Canadian growth and employment are strong… On the expansionary side, Canada has been enjoying more robust domestic growth from improved business investment, increasing ...

  • Why Moody’s Downgrade of Canadian Banks Didn’t Keep Me Up At Night

    Did you all catch the big news headlines roughly two weeks ago when Canada’s big six banks had their credit ratings downgraded by Moody’s? According to Moody’s, the downgrade reflects its “ongoing concerns” about how the “continued growth in Canadian consumer debt and elevated housing prices leaves consumers, and Canadian banks, more vulnerable to downside risks facing the Canadian economy than in the past.” Banks are critically ...

  • Teck Resources: How We Manage a Highly Volatile Stock

    I’d love to tell you a story about how we bought Teck Resources (TSX: TECK.B) in January 2016 when it hit a low of $3.80, and sold it in November 2016 when it reached a high of $35.02—a rise of 822%! But that would be pure fantasy. Owning Teck Resources has indeed contributed to the outperformance of one of our portfolios—the Canadian Equity Segregated Portfolio. But the fact is, we have been systematically reducing our exposure to Teck over ...