Monthly Message

The Wutherich & Co. Composite was down 6.1% in March. This compares with the S&P/TSX being down 0.2%.

Some of our names came off significantly in March, notably goeasy (T-GSY) and Hibbett Inc. (Q-HIBB). Recession fears, inflation, higher interest rates, the health of the consumer, concerns about the banking environment and regulatory changes have put selective pressure on these stocks.

Sounds like a lot, huh? But, we have just finished looking at all our names following the release of their most recent quarters. Results, by and large, have been excellent, including those for GSY and HIBB. While outlooks are more cautious, long-term prospects still seem strong. It is interesting, when we speak to our companies’ managements, they are all concerned about the factors listed above but many of them are not seeing any effects in their current business. Clearly, they are also vulnerable to the bombardment of negative information that the media puts out on a minutely basis. Reality, for now, is much stronger than the media would have you believe. Might we suffer a self-fulfilling prophecy? That, perhaps, is a far greater concern.

Though our companies may face some short-term pressure, their long-term fundamentals continue to be very strong. This should support good long-term capital appreciation. On top of this, the portfolio has an average dividend yield of about 4%. This provides a good underlying rate of return while equity prices sort themselves out over the next few years.

To view the complete Monthly Message and Factsheet click here

Monthly Message The Wutherich & Co. Composite was up 1.3% in February. This compares with the S&P/TSX being down 2.4%. The Wutherich & Co. Composite squeezed out another positive month in February as the world churns with uncertainty. We think our companies are well positioned to weather current economic and geo-political storms. Will they be […]

Monthly Message The Wutherich & Co. Composite was up 3.9% in January. This compares with the S&P/TSX being up 7.4%. As goes January, so goes the year? We certainly hope so, though we think there are an awful lot of hurdles to jump to make this happen. For the market as a whole, January saw […]

Monthly Message Happy New Year! The Wutherich & Co. Composite was up 1.5% in December. This compares with the S&P/TSX being down 4.9%. The new dance continues with December being another positive month for the Wutherich & Co Composite. We are happy to leave the 2022 Two-Step behind though we have always danced to our own […]

Monthly Message The Wutherich & Co. Composite was up 2.5% in November. This compares with the S&P/TSX being up 5.5%. To respect the choreography, November should have been two steps back. New dance? New dance partner? Hopefully one that doesn’t step on our toes quite so much. What steps do we need to learn to stay […]

Invitation Dear clients and friends, It will be good to see you again “live”! Please find attached the invitation to our upcoming “Wutherich & Co.’s Annual Update” first hybrid event taking place Wednesday January 18, 2023.   Chers clients et amis, Ce sera bon de vous revoir en personne! Vous trouverez ci-joint l’invitation à notre […]

Monthly Message The Wutherich & Co. Composite was up 8.2% in October. This compares with the S&P/TSX being up 5.6%. And the Two Step continues. Will October’s advance be met with two steps back in November? We don’t know but what seems likely is that the market and the Wutherich & Co. Composite will continue these […]

Monthly Message The Wutherich & Co. Composite was down 12.0% in September. This compares with the S&P/TSX being down 4.3%. Definitely two steps back. As we write this, the Wutherich & Co. Composite is up 5.4% so far in October. Now this may change in the coming days, but we wonder how our group of companies […]

Monthly Message The Wutherich & Co. Composite was up 2.8% in August. This compares with the S&P/TSX being down 1.6%. Stutter Step during August? We have been talking about the Two Step in the last few Newsletters as it seems that the Wutherich Portfolio is taking two steps forward one month and two steps back the […]

Monthly Message The Wutherich & Co. Composite was up 7.5% in July. This compares with the S&P/TSX being up 4.7%. The Two Step continues (please read the last two Newsletters for context)! Our Calgary based clients would be so pleased, especially in July, the month of Stampede. We sit like wallflowers, at the edge of the […]