Monthly Message

The Wutherich & Co. Composite was up 7.5% in July. This compares with the S&P/TSX being up 4.7%.

The Two Step continues (please read the last two Newsletters for context)! Our Calgary based clients would be so pleased, especially in July, the month of Stampede. We sit like wallflowers, at the edge of the dance floor, watching all the action before us, but in our case, not feeling any need to join in. All the while, as the frantic back and forth motion continues in the markets, we think about the health of the companies in our portfolio. Very little has changed. While all are feeling the stresses of the current environment, most appear to be handling it quite well and are poised to prosper over the long-term.

Our holding in Points.com (PTS-T) has being acquired. This had added about 10% in additional cash to the portfolio. We are already happily deploying this in some of our favourite names at what we think are depressed current stock prices. While the near-term is as uncertain as always, our conviction remains high that these investments will deliver good long-term returns.

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Monthly Message The Wutherich & Co. Composite was down 9.2% in May. This compares with the S&P/TSX being down 8.7%. Two steps forward, two steps back. Sometimes I hate being right (please don’t tell that to my wife) as we clearly experienced the latter part of this pattern in June. Last month, we wrote the above […]

Monthly Message The Wutherich & Co. Composite was up 7.8% in May. This compares with the S&P/TSX being up 0.1%. Two steps forward, two steps back. At least, that’s the way it feels. We have seen large monthly gains offset large losses in the Wutherich & Co. Composite for some time while little has changed […]

Monthly Message The Wutherich & Co. Composite was down 5.5% in April. This compares with the S&P/TSX being down 5.0%. Geopolitics and the macro-economy continue to create turbulent waters. While some of our companies are being affected by swirls and eddies, most are flowing along just fine. We don’t mean to be flippant. We take the […]

Monthly Message The Wutherich & Co. Composite was up 4.2% in March. This compares with the S&P/TSX being up 4.0%. Though March showed a small recovery, geopolitical and macro-economic factors continue to weigh on the markets and the Wutherich & Company Portfolio. Our way to counter that is to focus on the prospects of the […]

Monthly Message The Wutherich & Co. Composite was down 3.7% in February. This compares with the S&P/TSX being up 0.3%. The Russian invasion of Ukraine, Covid, inflation, interest rates and the supply chain continue to impact the market and the Wutherich & Company Portfolio. While the major US indices have performed similarly to the Wutherich & […]

Monthly Message The Wutherich & Co. Composite was down 9.0% in January. This compares with the S&P/TSX being down 0.4%. Yes, down 9%. Russia, Covid, inflation, interest rates and the supply chain are all impacting the market. Covid and the supply chain are having specific impacts on some of our companies, often more so than expected. […]

Monthly Message The Wutherich & Co. Composite was down 1.1% in December. This compares with the S&P/TSX being up 3.1%. Happy New Year! December marked a quiet end to an exceptional year. At 34.3%, 2021 was the second highest annual return that we have had for the Wutherich & Co. Composite. A pandemic-free 2004 marked […]

Invitation Dear clients and friends, Please find attached the invitation to our upcoming “Wutherich & Co.’s Annual Update” virtual event taking place Wednesday January 26, 2022.   Chers clients et amis, Vous trouverez ci-joint l’invitation à notre prochain évènement virtuel “Mise à Jour Annuelle Wutherich & Co.” qui aura lieu le mercredi 26 janvier 2022. […]

Monthly Message The Wutherich & Co. Composite was down 1.4% in October. This compares with the S&P/TSX being down 1.6%. Most of our companies have reported their recent quarters and results have, for the most part, been exceptional. Many of the companies that we invest in are what I would call permanent businesses. While all businesses […]