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MD Blog

  • 24342-MD-blog-oil&gas_730x320

    Getting Fit for “Lean” Oil: Companies Shape Up, With Cheaper as the New Normal

    One sector looking a bit skinny on stock markets right now is energy: many companies have been incurring losses since crude oil prices dropped by half in recent years. Yes, oil prices are low, but I’m okay with that. Looking back over 30 years, the sustained high oil prices of the early 2010s look very much like the real anomaly. We’ve certainly seen companies able to profit at a lower per-barrel cost in times past. I still believe there’s a ...

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    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 ...

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    Thank You for Not Smoking... in My Retirement Fund

    Would you be alarmed if your retirement fund was hooked on cigarettes? I recently met Dr. Bronwyn King, a practising radiation oncologist from Australia and founder of Tobacco Free Portfolios, a non-profit group that aims to eliminate pension fund investments in tobacco. In 2010, Dr. King was dismayed to find out she profited from the very products responsible for her patients’ life-threatening illnesses. Like other Australian health ...

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    Facebook: How the Best Action Was Inaction

    One of the greatest temptations in investing is trying to make a quick buck. Who hasn’t wished in hindsight that they’d bought the proverbial “ten bagger” and then sold at its peak? Of course, the realities of investing aren’t so simple—and sometimes stocks do the exact opposite of what you want them to do. Even the best stocks can have a poor start Recently I wrote about the high growth rates of the FAANG (Facebook, Amazon, Apple, Netflix ...

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    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 ...