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 our companies have already reported and we are, for the most part, happy with what we see. We are, as always, more focused on the long term. The prospects for many of our holdings are as strong as they have ever been and we think they should generate strong returns over the years to come. While geopolitical events may throw a wrench into the works in the short term, we don’t think these will have a lasting impact on our companies.
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