Monthly Message

The Wutherich & Co. Composite was down 1.7% in September versus the S&P/TSX being up 3.2%.

While the market continued to be very strong in September, the Wutherich & Co. Composite suffered a set-back with two of our names delivering very weak quarterly results and one of our names announcing an equity issue at a steep discount to its previous market price. This caused a sharp sell-off.

While the two names that reported weak results will need some watching, we have no strong concerns yet. Propel Holdings (PRL-T) is issuing equity. They are doing this to expand operations by buying a company in the UK that does a similar kind of lending to what they do now in North America. Stocks will frequently trade down to the issue price for a period of time but, if the fundamentals progress favourably, the stock price will re-appreciate in subsequent periods.

In the meantime, we continue to pick away at some of the cheaper names in our portfolio to deploy some of our cash. Outside of some significant external shock, we believe that the Wutherich & Co. Portfolio continues to offer the prospect of strong long-term returns given the high quality and inexpensive nature of most of our holdings.

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Monthly Message The Wutherich & Co. Composite was up 2.2% in August versus the S&P/TSX being up 2.9% (By the way, last month should have read 4.1% for the TSX, not 5.9%). Despite many twists and turns, the market and the Wutherich & Co. Portfolio continued to advance in August. The traditionally weak month of […]

Monthly Message Wutherich & Co. Composite was up 4.6% in July versus the S&P/TSX being up 5.9%. Broadening market? Lowering interest rates? We try not to make these calls, but it would be nice to see. The Wutherich & Company Portfolio would benefit from a broader market as we certainly don’t own US Mega-Cap Technology names. […]

Monthly Message The Wutherich & Co. Composite was up 0.2% in June versus the S&P/TSX being down 1.4%. While the last twelve months have been very strong for the Wutherich & Co. Composite, if we zoom out a little, the market and our portfolio have seen relatively weak performance since November 2021. Outside of a […]

Monthly Message The Wutherich & Co. Composite was down 0.7% in May versus the S&P/TSX being up 2.8%. “Sell in May and Go Away” certainly seemed to affect some of our stocks during the month. Recent quarterly results were reported for most of our companies and there was a mix of excellent numbers combined with […]

Monthly Message The Wutherich & Co. Composite posted a 0.0% result in April versus the S&P/TSX being down 1.8%. Markets were generally weak during April as investors sway with the ebb and flow of concerns around interest rates and geopolitics. The Wutherich & Company Composite posted somewhat better results due to the announced takeover of Hibbett […]

Monthly Message The Wutherich & Co. Composite posted a 0.5% drop in March versus the S&P/TSX being up 4.1%. The Wutherich & Company Composite definitely sat-out the March rally in North American markets. The companies in our portfolio finished reporting their most recent quarters during the month. For the most part, the numbers were good. A […]

Monthly Message The Wutherich & Co. Composite posted a 4.8% gain in February versus the S&P/TSX being up 1.8%. Strong performance in the Wutherich & Company Composite continued in February. We put this down to the strength of the names in our portfolio and their relative cheapness. Our names have started to report their most […]

Monthly Message The Wutherich & Co. Composite posted a 4.7% gain in January versus the S&P/TSX being up 0.6%. The strength that we experienced in our portfolio during 2023 has continued into 2024 but we always talk people down from getting too excited about short-term returns. Our portfolio companies continue to be in excellent health, which […]

Monthly Message The Wutherich & Co. Composite was up 4.0% in December. This compares with the S&P/TSX being up 3.9%. Thank you, Santa, for a great year-end rally which has taken us up 17.0% for 2023, handily outpacing the TSX at 11.8%. But Ho Ho Hold that idea. We are seldom in synch with what happens […]