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MD Blog

  • 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 ...

  • Digesting a Grocery Deal: The Whole Foods Takeover

    When my wife and I do groceries, we always shop using the Flipp app—it lets us price-match the week’s best deals and save money at our local Real Canadian Superstore. The use of a digital app on our phones is a small example of how technology can influence everyday shopping habits. The next breakthrough may take place in your home, now that Amazon Inc. is scaling up plans to deliver groceries you buy online. In June, the world’s largest ...

  • 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 ...

  • Why, Even in a Jet Age, We Still Ride the Rails

    As I recently reclined aboard VIA Rail train #656 on my way home from Montreal to Ottawa, I couldn’t help but appreciate how comfortable the journey was, compared to my usual trip by air. The ride gave me opportunity to think about the role of railways in our economy and how our investments in Canadian railroad companies have benefited our clients­—why you might count on a freight train or two in your MD portfolio. Solid economic ...

  • What Higher Interest Rates Mean For You

    The financial pages were abuzz on July 12 with the Bank of Canada’s (BoC) first rate increase in seven years. What does the move from 0.50% to 0.75% mean to your loans, investments or your travel plans? Read on. Canada’s economy is healthier, so rates no longer need to be at rock bottom Back in 2015, in the face of plummeting oil prices and flagging growth, the BoC lowered rates from 1.00% to 0.5%. Now, with an improved economic outlook for the ...

  • 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 ...

  • Why FAANG Stocks Aren’t Getting Long in the Tooth

    I find it hard to remember life before Google. What did I do before I could just instantly search for useless information and find what I need at my fingertips? I’m sure many of you feel the same way. Google is one of the so-called FAANG stocks (Facebook, Amazon, Apple, Netflix and Google) that have been collectively driving up stock market returns. As of May 17, 2017 the S&P 500 is up over 7.6% (CAD), however one third of this return has ...