Tag Archives: prices

West Fraser Timber to play HOT housing market.

Back on August 17th, I published an article predicting that the strong housing market, increasing home improvement and renovation activity during the pandemic and rising lumber prices would benefit Canadian lumber stocks. Although no longer a secret, there remains plenty … Continue reading

Posted in Random Thoughts, stocks | Tagged , , , , , | Leave a comment

REIT’s may not be a bargain; distributions depend on rent being paid.

The Real Estate Investment Trust (REIT) has had a marvelous decade as property values just kept rising.  It inspired large institutional investors (pension funds for e.g.) to get directly involved.  The Canada Pension Plan has 12.1% invested in real estate.  … Continue reading

Posted in Random Thoughts, stocks | Tagged , , , , , , , , , | Leave a comment

What is the bond market telling us?

Bond traders have taken yields at very short end of the curve and mid-range (2 to 10 year maturities) a bit higher as confidence in the economy has temporarily strengthened.  However as I’ve mentioned in prior articles, we may already … Continue reading

Posted in bonds, Random Thoughts | Tagged , , , , , , , | Leave a comment

First a correction; and then another banner year for stock markets!

It shouldn’t be surprising that the current ‘mood’ just oozes caution.   The market is kind of like the bear (I met one face-to-face in Alaska many moons ago while fishing in ‘his‘ creek) – at one moment the bear seems content and … Continue reading

Posted in Random Thoughts | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 8 Comments

Did your strategist predict this market? Get a new strategist!

Below is a commentary I published on March 8th. Like Warren Buffet, I was especially worried about the bond market. During the months before I posted the article, huge inflows into fixed income funds took place. Suddenly investors began selling … Continue reading

Posted in Random Thoughts | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

High Consumer Confidence is bad news for stock market!

The latest consumer confidence release shows a significant improvement. “Rising home prices and a rising stock market are two key factors that are boosting consumer confidence. And a third factor is rising strength in the jobs market. The consumer confidence … Continue reading

Posted in Random Thoughts | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , | 5 Comments

Explaining the January Effect (small companies outperform)!

A perplexing phenomenon for money managers and academics alike is the so-called “January effect.”  Also known as the small-cap effect it generally refers to the fact that January tends to be a pretty good month for the stocks of smaller … Continue reading

Posted in Random Thoughts | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , | 3 Comments

When to rotate into cyclicals? NOW!

I’ve been preaching for decades (and discussed in both my books ad nauseum) that the right thing to be doing at any point in time is the exact opposite of what everyone else is doing.  If it’s a difficult thing to … Continue reading

Posted in Random Thoughts | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 5 Comments

Behavioural psychologists DON’T understand investment industry.

Most people would agree with the following statement by celebrated behavioural psychologist Daniel Kahneman – from his best selling book describing new insights into how good and bad decisions are made: “Why do investors, both amateur and professional, stubbornly believe … Continue reading

Posted in Random Thoughts | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 2 Comments

Goldman Sachs advice scares the beejeebies out of me!

“We think it’s time to say a ‘long good-bye’ to bonds, and embrace the ‘long good buy’ for equities” announces Goldman Sachs! This sort of pronouncement has the ability to turn someone who’s been a diehard bull since 2010 into … Continue reading

Posted in Random Thoughts | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 1 Comment