The Wutherich & Co. Composite was up 7.8% in July. This compares with the S&P/TSX being up 2.6%.
“Everything else” has made a bit of a comeback.
Last month, we referred to how the market was focused on just a handful of mega-cap technology/Artificial Intelligence (AI) names and largely ignored everything else. We owned a sub-set of “everything else”. For now, the market has broadened its focus and the Wutherich & Co. Portfolio has benefited.
The hype-cycle around mega-cap technology/AI may continue but this won’t cause us to change our focus one bit. The more giddy the market becomes, the more grounded we are in the fundamentals of the names that we own, and we happen to think that we own a stable of outstanding names.
Most of our companies will be reporting earnings in the coming weeks. While a few might disappoint, we have a high level of conviction that most will continue to demonstrate the ongoing strength of their businesses.
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