Monthly Message

The Wutherich & Co. Composite was up 9.3% in January. This compares with the S&P/TSX up 8.7% and the BMO Small Cap Index up 8.6%.

The Wutherich & Co. Portfolio has gained 18% from its low on Dec. 24, 2018. Just since the end of September we have experienced one of our worst months in October at -11.2% (only September and October of 2008 were worse) and one of our best months in January at 9.3% (only November and December of 2001 were better). All this while very little has changed amongst our names in the portfolio with one exception. On January 20th, ZCL Composites announced that it would be bought by Shawcor Ltd. for $10 per share. We had owned ZCL successfully from December 2013 to January 2018. The stock declined significantly from January to November of 2018 when it looked cheap again by our metrics. We repurchased ZCL in November for $6 per share. The $10 take out provided us with a 66% gain in just over two months.

All this to say that it is best to ignore market volatility and just focus on the prospects of the individual names that you own. Their value will out over time either through stock price increases or acquisitions by other firms.

Also, a big shout-out to those clients that heeded our call to put in more money. The 18% recovery from December 24th sure feels good in their wallets right about now. Regardless of this move, the portfolio still offers good value and should support future returns. It is RRSP season and so it is an excellent time to look at adding some of your annual contribution to your accounts with us.

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Monthly Message The Wutherich & Co. Composite was down 4.5% in December. This compares with the S&P/TSX down 5.4% and the BMO Small Cap Index down 3.8%. The Wutherich & Co. Portfolio did a partial u-ey in December. Though we didn’t get quite turned around, we did come back from an 11.6% deficit at one […]

Monthly Message The Wutherich & Co. Composite was up 0.3% in November. This compares with the S&P/TSX up 1.4% and the BMO Small Cap Index down 3.7%. The Wutherich & Co. Portfolio did a u-ey in November. With only four days left in the month we were down 4.1%. By month’s end, we were up 0.3%! […]

Monthly Message 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 […]

Invitation Dear clients and friends, Please find attached an invitation to our upcoming “Wutherich & Co.’s Annual Update” event. Chers clients et amis, Vous trouverez ci-joint une invitation à notre prochain évènement “Mise à Jour Annuelle Wutherich & Co.”.  –  INVITATION PDF  –

Invitation Dear clients and friends, Please find attached an invitation to our upcoming “Wutherich & Co.’s Annual Update” event. Chers clients et amis, Vous trouverez ci-joint une invitation à notre prochain évènement “Mise à Jour Annuelle Wutherich & Co.”.  –  INVITATION PDF  –

Monthly Message The Wutherich & Co. Composite was down 0.9% in September. This compares with the S&P/TSX down 0.9% and the BMO Small Cap Index down 0.9%. The Organic, Gluten Free Portfolio (look at last month’s Newsletter for an explanation) took a small breather in September. There is no particular news behind this. September is […]

Invitation Dear clients and friends, Please find attached an invitation to our upcoming “Wutherich & Co.’s Annual Update” event.   Chers clients et amis, Vous trouverez ci-joint une invitation à notre prochain évènement “Mise à Jour Annuelle Wutherich & Co.”.  –  INVITATION PDF  –

Monthly Message The Wutherich & Co. Composite was up 2.7% in August. This compares with the S&P/TSX down 0.8% and the BMO Small Cap Index up 0.8%. The Organic, Gluten Free Portfolio A friend’s parents have a farm near Ottawa. They have a small woodlot on their property and sell firewood from felled trees. A neighbor, […]

Here’s to number1! Last week we mentioned that we would bring you additional colour on our latest Pavilion report. So here it goes. Pavilion (previously Brockhouse Cooper) keeps track of our performance relative to a group of peers in what they call the Canadian Small Cap Equity Universe. The latest report, as of June 2018, […]