Monthly Message

For June, the Wutherich & Co. Composite was up 5.1%.

The snapback has continued for now. Whither? We certainly don’t know but are glad to own companies in the portfolio that are showing great resilience to the macro and geopolitical uncertainty in the world around us.

Last month, we gave an example of one of these companies, namely Black Diamond Inc. (BDI-T). Another example is Propel Holdings Inc. (PRL-T), a Toronto-based financial services company specializing in loans to sub-prime borrowers in the US with smaller operations in Canada and the U.K. The company has no physical branches and leans heavily on automated systems and artificial intelligence to screen for prospective borrowers. Much of this was developed in-house and is considered proprietary, allowing them to sell this capability to other institutions as another product line which they call Lending-As-A-Service (LAAS). As large banks tighten their lending criteria in the current environment, more people spill into PRL’s prospect pool. This, combined with exceptional operating practices and the ability to sell LAAS, is allowing the company to grow earnings at a pace greater than 25% while trading at a P/E ratio of only 14 times. We’ll take that combination all day long.

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Monthly Message For May, the Wutherich & Co. Composite was up 9.2%. Reprieve from Trump Chaos 2.0? Temporary or lasting? We don’t know. We focus on the health of our individual holdings. Given that many of them have just reported their most recent quarters, we have a pretty good snapshot of how they are doing. For […]

Monthly Message For April, the Wutherich & Co. Composite was down 1.2%. The ferocity of Trump Chaos 2.0 abated somewhat in April, lessening its blow on the Wutherich & Co. Composite and the markets in general.  Wil is travelling in early May. We’ll be back with more fulsome comments in our next Newsletter.

Monthly Message For March, the Wutherich & Co. Composite was down 4.4%. Trump Chaos 2.0 plays on. During February and March, we reviewed all our names in detail as they reported their most recent quarters. While some are struggling, the bulk of them are doing very well, with strong fundamentals and solid outlooks. While everyone […]

Monthly Message For February, the Wutherich & Co. Composite was down 7.0%. Trump Chaos 2.0 continues to weigh on our portfolio and the markets in general. Trump Tariffs and his geo-political hijinks are creating intense uncertainty and discomfort amongst investors and the population in general. When we examine our portfolio, we find limited direct exposure […]

Monthly Message For January, the Wutherich & Co. Composite was down 1.4%. Trump Chaos 2.0 is starting to roll through the markets. For now, it is in the form of Trump Tariffs. While much of the portfolio has relatively little direct exposure to these, several of our export-oriented names will feel their effects for some […]

Monthly Message Happy New Year! JF and I would like to wish you health, happiness and prosperity for 2025. For December, the Wutherich & Co. Composite was up 0.3%. December’s small gain capped-off a strong year for the Wutherich & Company Composite. Performance rode off the backs of (mostly) strong companies in the portfolio. In […]

Monthly Message Merry Christmas and Season’s Greetings to one and all! For November, the Wutherich & Co. Composite was up 5.0%. With the US election now past, one level of uncertainty has been resolved, though, I think for many of us, a lot of questions remain. Trump 2.0 is on tap. Exactly what that means is […]

Invitation Dear clients and friends, Please find attached an invitation to our upcoming “Wutherich & Co.’s Annual Update” virtual event taking place Wednesday January 22, 2025.   Chers clients et amis, Vous trouverez ci-joint l’invitation à notre prochain évènement virtuel “Mise à Jour Annuelle Wutherich & Co.” qui aura lieu le mercredi 22 janvier 2025. […]

Monthly Message The Wutherich & Co. Composite was up 2.2% in October versus the S&P/TSX being up 0.7%. Trick or Treat? We write this having recently survived Halloween and are waiting for the US election to take place. We’ll let you decide which outcome would be the trick and which the treat. Many of our […]