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MD Blog

  • Are We Ready For Consumer Robots?

    It’s been a cold winter in Canada so far, something few of us like. However, it’s not all bad—trapped indoors by the bitter weather one recent Sunday afternoon, I spent several happy hours with my nine-year-old daughter building and programming her Lego Mindstorms robot. She’s been asked to join the Lego Robotics team at school, clearly showing that her generation is being taught to solve problems using robots. R2-D2 vs. the Roomba This ...

  • Samsung: It’s About Big Profits, Not Big News

    Samsung produces more smartphones than any other company, including one model last year that spontaneously caught fire. Those incendiary Galaxy Note 7s were soon recalled and replaced...with more phones that spontaneously caught fire. Airlines cautioned passengers about the hazards of using their old and new Samsung phones, and Samsung stock plummeted. But even a defective—and worse—dangerous product didn’t erode our confidence in Samsung’s ...

  • Getting paid for patience (not patients)

    In the information age, investing can seem like a game where you need to make all the right moves all the time. At an investment conference I attended recently, one of the presenters used examples of how humans have been genetically wired through 3.7 million years of evolution to focus on short-term risks or perils – the kind we absorb from the media every day. A well-known annual study links this fear factor to investing. Conducted by Dalbar ...

  • Inside Our Portfolio Backpack—Back-to-School Edition

    You don’t have to be a med school student or, like me, a parent of school-aged children (three of ’em, actually!) to know this is prime season to dole out dollars. Given the time I’ve spent in shops lately, I thought we could compare our back-to-school shopping habits, plus look at some of the companies in our portfolios that stock the shelves. A shopping barometer for back to school sales Back-to-school sales are a big event for North ...

  • Investing in Materials Means Navigating a World of Cyclical Price Takers

    The materials sector is often overlooked, but its cyclical nature means materials producers can do quite well during an economic upswing. Materials companies are generally capital intensive: this can present challenges when it comes to generating returns. Active management allows us to identify the best investment opportunities in this growing sector. In a world dominated by headline-grabbing FAANG stocks (Facebook ...

  • I Love the Sport, But Won’t Risk a Mulligan

    I don’t call myself a golfer, although I do play a few times a year: I enjoy the time outdoors; like to walk rather than drive a cart; and appreciate the good company. I also love that you don’t have to play to excel as an armchair golfer, watching superstars like Jordan Spieth and up-and-comers like 19-year-old Canadian LPGA sensation Brooke Henderson breathe new life into what’s been seen as a stagnant sport. The business of golf: looking ...

  • Active and Index Investing: Can’t We All Just Get Along?

    We are experiencing the second longest bull market in U.S. history. Since bottoming out in March 2009, the S&P 500 has risen to all-time highs, fueled by low interest rates and investors chasing higher stock returns. This historic run has led some to challenge the merits of active investment management. While active investing involves expert portfolio construction, measured allocations of capital to the best investments and being ...