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Quarterly Market Commentary – First Quarter 2013

Quarterly Market Commentary “There are 10^11 stars in the galaxy. That used to be a huge number.  But it’s only a hundred billion. It’s less than the national deficit (US)! We used to call them astronomical numbers.  Now we should call them economic numbers. ” ~ Richard Feynman,Theoretical Physicist 1919-1988   At the end of … [+] Read More

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Value Investing – How to Avoid Value Traps

In this National Post article, I explain how value investing principles can help investors avoid value traps when selecting stocks. The key is to assess whether management can execute strategy over the business cycle. The biggest mistake many value investors make is not being proactive enough in pulling the trigger on a stock that shows … [+] Read More

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BNN Market Call – Market Outlook & Top Stock Picks

BNN Market Call – Market Outlook Global markets will continue to be buffeted by the macro-economic concerns derived from the profligate government spending in the U.S. and European regions as well as the concerns regarding the pace of expansion in the developing economies. A correction of some magnitude could be triggered by skittish investors reacting … [+] Read More

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VALUE INVESTING – WARREN BUFFETT AND ‘UNDER-PERFORMANCE’

CEO’s annual letters to shareholders are a bit like having your teeth drilled: something most of us prefer to avoid. Warren Buffett’s annual reports to shareholders of Berkshire Hathaway are very different: they are a good read for any investor wishing to understand his steadfast approach to value investing. In this year’s letter Buffett apologizes … [+] Read More

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BNN Market Call – Market Outlook & Top Stock Picks

BNN Market Call – Market Outlook & Top Stock Picks Barrick Gold (ABX TSX) Last purchase November 2012, $37.60 Barrick is the world’s largest gold producer. Its new project will propel production beyond 8 million ounces per year in the next few years. Management is focused on capital discipline. The recent pullback provides a good … [+] Read More

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Quarterly Market Commentary – Fourth Quarter 2012

QUARTERLY MARKET COMMENTARY – 2012 ENDS IN A CLIFFHANGER… “Whatever investment success we achieve will take place against a troubled backdrop, …felt like we were playing a great hand of cards in the basement of a burning building filled with explosives during an earthquake.” — Seth Klaeman author of “Margin of Safety” As 2012 drew … [+] Read More

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Lois O’Sullivan

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Joie Watts