The Wutherich & Co. Composite was down 11.2% in October. This compares with the S&P/TSX down 6.2% and the BMO Small Cap Index down 8.5%.
October was a difficult month for the Wutherich & Co. Portfolio and the markets in general. With perhaps one or two exceptions, very little has changed in the fundamentals for most of the companies in our portfolio. We continue to see most face good, or very good, growth prospects and trade at reasonable valuations. What may have changed is investor psychology. Whenever we see large drops in stock prices based on this, we look to take advantage of any bargains that may result. Our 10% cash position will help us do this in the coming months.
JF and I would like to remind you that we are hosting the Wutherich & Co. Annual Update on November 15 at the Mount Stephen Hotel, 1440 Drummond Street. Cocktails at 17:30, presentation at 18:00. RSVP to firstname.lastname@example.org or 514-924-4438. We only have a few seats left so we strongly encourage you to get back to us as soon as possible.
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