The Wutherich & Co. Composite was up 3.4% in June. This compares with the S&P/TSX being up 2.5%.
Already half a year gone! It seems like this every year where we emerge from the dark of winter, looking, achingly, to the longest days, and suddenly, they are upon us and quickly pass. Too quickly. The Wutherich & Co. Portfolio has more than emerged from the darkness of the winter of 2020, up about 210% from the lows of March 23 of that year. When will the longest days come and pass? We don’t know. While the portfolio is no longer outrageously cheap, it is not very expensive either. In fact, we find that there are several names which are still inexplicably, puzzlingly cheap. They don’t fit the flavour of the day, or of any day, really. So, of course, we own a ton of them. As we have done our entire career, when everyone is focused on just a few areas, it is best to look somewhere else. At one point, the market will realize that these are great companies and will bid them up appropriately.
In the meantime, Happy Canada Day everyone. As badly as Canada has managed some things in its past it is still one of the greatest country on Earth
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