Monthly Message

The Wutherich & Co. Composite was up 3.9% in January. This compares with the S&P/TSX being up 7.4%.

As goes January, so goes the year? We certainly hope so, though we think there are an awful lot of hurdles to jump to make this happen. For the market as a whole, January saw a snap-back in some of the names that were the weakest in 2022. I am not sure that weakness is a sound investment reason to own a stock. We look at the long-term fundamentals of each of the names that we own and decide to buy or sell them accordingly. The only reason that we would buy a name whose stock price has dropped over the last year is that we think it now offers better value relative to its long-term outlook.

Overall, the portfolio seems very cheap to us. Yes, all the macro-economic hurdles that have to be jumped will affect our companies. Regardless, we think that they are well positioned to grow for many years to come, hurdles or not. This should drive good long-term returns.

This is RRSP season. We strongly encourage our clients to make contributions to their accounts as soon as possible.

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Monthly Message Happy New Year! The Wutherich & Co. Composite was up 1.5% in December. This compares with the S&P/TSX being down 4.9%. The new dance continues with December being another positive month for the Wutherich & Co Composite. We are happy to leave the 2022 Two-Step behind though we have always danced to our own […]

Monthly Message The Wutherich & Co. Composite was up 2.5% in November. This compares with the S&P/TSX being up 5.5%. To respect the choreography, November should have been two steps back. New dance? New dance partner? Hopefully one that doesn’t step on our toes quite so much. What steps do we need to learn to stay […]

Invitation Dear clients and friends, It will be good to see you again “live”! Please find attached the invitation to our upcoming “Wutherich & Co.’s Annual Update” first hybrid event taking place Wednesday January 18, 2023.   Chers clients et amis, Ce sera bon de vous revoir en personne! Vous trouverez ci-joint l’invitation à notre […]

Monthly Message The Wutherich & Co. Composite was up 8.2% in October. This compares with the S&P/TSX being up 5.6%. And the Two Step continues. Will October’s advance be met with two steps back in November? We don’t know but what seems likely is that the market and the Wutherich & Co. Composite will continue these […]

Monthly Message The Wutherich & Co. Composite was down 12.0% in September. This compares with the S&P/TSX being down 4.3%. Definitely two steps back. As we write this, the Wutherich & Co. Composite is up 5.4% so far in October. Now this may change in the coming days, but we wonder how our group of companies […]

Monthly Message The Wutherich & Co. Composite was up 2.8% in August. This compares with the S&P/TSX being down 1.6%. Stutter Step during August? We have been talking about the Two Step in the last few Newsletters as it seems that the Wutherich Portfolio is taking two steps forward one month and two steps back the […]

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 […]

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 […]