The Wutherich & Co. Composite was up 5.1% in April. This compares with the S&P/TSX being up 2.4%.
Performance of the Wutherich & Co. Portfolio has been exceptional over the last year, helped along by strong markets. Given how high valuations are across the board, we are surprised that we can still find interesting companies to work on. As you might expect from us, they are not mainstream companies that you see in the headlines every day. They are frequently ignored because they are not in the latest, hottest, sexiest, buzziest industry. We are glad to have these opportunities to work on as a few of our names have appreciated to full value and we hope to replace them in the coming quarters.
No doubt, after an epic run like we’ve had, we could see setbacks, even some severe ones. Looking at the chart on the next page, our performance is anything but “straight-up and to the right.” But it is up. In fact, we have made more than ten times our money for our clients over the last 19-plus years. The market is bound to throw us plenty of curves over the coming years and we will handle this as we always have: By focusing on the fundamentals of our companies and buying and selling them accordingly. It has worked for us for the nearly 29 years that we have been in the business. No need to change now.
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