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Monthly Message

The Wutherich & Co. Composite was up 0.3% in July. This compares with the S&P/TSX up 1.1% and the BMO Small Cap Index down 1.0%.

Here’s to number one! It has been a little while since we have been there, so we will crow about it while we can. We submit numbers to Pavilion (formerly Brockhouse Cooper), a service that measures our performance relative to a group of peers that participate in the small cap space. The report shows that, as of June 2018, we are ranked Number 1 in Canada on a one-year basis and Number 3 on a two year basis (both are gross of fees). Hats off to our clients who had stuck with us during our downturn from 2014 to 2016. Stay tuned, we will come back to you next week with additional colour on the results shown in this report.

In July, the Wutherich & Co. Portfolio slipped sideways on little news. Only 4 of our 17 names have reported quarterly earnings so far. Three out of four were strong with one being somewhat disappointing. We expect to have a lot more news during the month of August as the rest of our companies report. As we mentioned last month, we will be using the balance of the year to eliminate some weak names and add to some of the stronger positions in the portfolio. We have been searching intensively for new names to add to the portfolio over the last several months. A few ideas have come to our attention but valuation continues to be a big hurdle. Any company of quality with good growth prospects comes with a very high price tag. We will keep research files on these and hope to have an opportunity to buy them at some point in the future.

To view the complete Monthly Message and Factsheet click here

 

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