Market Ethos - April 16th, 2018

Published by Richardson GMP Asset Management on Apr 16, 2018

The Million Dollar Question   In this week’s edition we share an analysis that looks at all past recessions and bear markets since the late 1940s. If a recession is not going to start in the next six months, it is usually best to stick in equities. We... Continue reading

Market Ethos - April 9th, 2018

Published by Richardson GMP Asset Management on Apr 09, 2018

Cracks in the Foundation Widening   Canadian houses have caught the eye of global investors following decades of consistent growth and all but a slight decline during the great recession. Then as home prices started catching fire, foreign money started... Continue reading

Market Ethos - April 2nd, 2018

Published by Richardson GMP Asset Management on Apr 02, 2018

Energy Not Adding Up   Oil prices are up nicely yet energy stock prices are in the doldrums. In this edition we share our views on the disparity between oil prices and the energy sector. Continue reading

Market Ethos - March 26th, 2018

Published by Richardson GMP Asset Management on Mar 26, 2018

Two Months Into the Bear?   Economists usually don’t tell us we are in a recession until almost a year after it starts and we don’t know we are in a bear market until well after it has started and gathered steam. In this edition we share our views on... Continue reading

Market Ethos - March 19th, 2018

Published by Richardson GMP Asset Management on Mar 19, 2018

Active Beat Passive in 2017?   Well, it was bound to happen. Active managers, on an asset weighted basis, outperformed the index across large, mid and small cap for the U.S. market last year. In this ethos installment we dive into the S&P SPIVA report... Continue reading

Market Ethos - March 12th, 2018

Published by Richardson GMP Asset Management on Mar 12, 2018

Avoiding Mistakes   While great ideas are a key ingredient to a successful investment process and often talked about, avoiding mistakes is probably as important yet receives much less attention. In this market ethos we share our approach to avoiding the... Continue reading

Market Ethos - March 5th, 2018

Published by Richardson GMP Asset Management on Mar 05, 2018

Being Contrarian   Being part of the herd certainly gives us comfort that we are all in it together. This mentality certainly carries over to the investment world but most of the great investors over the decades have been staunch contrarians. In this... Continue reading

Market Ethos - February 26th, 2018

Published by Richardson GMP Asset Management on Feb 26, 2018

Cyclical Yield en vogue   Correction followed by a good recovery, once again rewarding the ‘buy the dip’ strategy that has worked so well over the past few years. However beneath the surface there has been a significant divergence in performance between... Continue reading

Market Ethos - February 20th, 2018

Published by Richardson GMP Asset Management on Feb 20, 2018

Expectations Are Inflating   The U.S. Federal Reserve has a dual mandate of targeting 2% inflation and maximum employment. They are doing a great job of achieving their employment goal with only 4.1% of Americans looking for a job and not being able to... Continue reading

Market Ethos - February 9th, 2018

Published by Richardson GMP Asset Management on Feb 13, 2018

The Bell Has Been Rung   Last week we wrote a piece titled “Hey Equity Markets, Bond Yields Toll for Thee.” Well, bond yields tolled alright, and equity markets found their bell rung in terms of handling rising bond yields. The U.S. ten-year topped out... Continue reading