Monthly Message

The Wutherich & Co. Composite was up 7.9% in November. This compares with the S&P/TSX up 3.6% and the BMO Small Cap Index up 2.9%.

The Wutherich & Co. Composite continues to recover from its May to August swoon and is now up 26% year-to-date, just 2 percentage points below its all-time high.

Cash has moved up a little as we have trimmed several positions. This basically happens for three reasons: 1) a stock has performed much better than expected and we start to sell it because expected future returns are significantly lower than our 15% target rate; 2) the company faces increasing fundamental challenges, making it more difficult for us to ascertain its future return potential; 3) we are sitting on a large capital loss in the position and the company’s outlook is sufficiently blurry that we aren’t willing to be patient.

There are a few other names that we may trim in the coming months for the above reasons. Luckily, there are still many cheap stocks in the portfolio which should absorb much of the cash that may build up.

Lastly, we welcome all our clients and friends to celebrate our 20^th Anniversary at our Wutherich & Co. Annual Update to be held at the Mount Stephen Hotel on Thursday January 23^rd, 2020. Cocktails 5:30pm. Presentation 6:00pm. RSVP at jf@wutherich.ca or 514-924-4438.

To view the complete Monthly Message and Factsheet click here

Invitation Dear clients and friends, Please find attached the invitation to our upcoming “Wutherich & Co.’s Annual Update” event taking place Thursday January 23, 2020.   Chers clients et amis, Vous trouverez ci-joint l’invitation à notre prochain évènement “Mise à Jour Annuelle Wutherich & Co.” qui aura lieu le 23 janvier 2020.  –  INVITATION PDF […]

Monthly Message The Wutherich & Co. Composite was up 0.7% in October. This compares with the S&P/TSX down 0.9% and the BMO Small Cap Index down 2.0%. The Wutherich & Co. Composite eked out a small gain in October and is now up 16.8% year-to-date. Valuations in our portfolio still look strikingly cheap and we continue […]

Bulletin For years now, Wutherich & Co. has been doing its Montreal annual update and cocktail in November and you would have already received a notice inviting you to this event. With the approach of our 20th anniversary next May, we have decided to do things a little differently. We will be moving the event […]

Monthly Message The Wutherich & Co. Composite was up 2.7% in September. This compares with the S&P/TSX up 1.7% and the BMO Small Cap Index down 2.0%. The Wutherich & Co. Composite recovered somewhat in September and is now up 16.1% year-to-date. Valuations continue to look compellingly cheap to us. We have maximized exposure to our […]

Monthly Message The Wutherich & Co. Composite was down 7.9% in August. This compares with the S&P/TSX up 0.4% and the BMO Small Cap Index down 0.5%. The Wutherich & Co. Composite did take a hit in August, though still up 12.9% year-to-date. The balance of our companies reported during the month. While two or three […]

Monthly Message The Wutherich & Co. Composite was up 0.3% in July. This compares with the S&P/TSX up 0.3% and the BMO Small Cap Index up 1.9%. The portfolio continues to navigate the summer doldrums at a lugubrious pace. Things may quicken with the release of second quarter results in the coming weeks. A few of […]

Monthly Message The Wutherich & Co. Composite was down 0.8% in June. This compares with the S&P/TSX up 2.5% and the BMO Small Cap Index up 4.6%. Weakness in a handful of weightings in the portfolio hurt performance in June. With one possible exception, we don’t think that there is anything to be concerned about with […]

Monthly Message The Wutherich & Co. Composite was down 3.2% in May. This compares with the S&P/TSX down 3.1% and the BMO Small Cap Index down 2.7%. Sell in May and go away? Well, we certainly saw some selling in May, egged on by a few Trump Tweets about trade. That strategy, however, seems like a […]

Monthly Message The Wutherich & Co. Composite was up 4.9% in April. This compares with the S&P/TSX up 3.2% and the BMO Small Cap Index down 0.3%. We submit our numbers to Mercer (a pension consultant) to compare how we have done versus our peer group. As of March 31, 2019, we rank #1 in the […]