Monthly Message
For September, the Wutherich & Co. Composite was up 0.8%.
Nice to see a positive number for the Wutherich & Company Composite for September. Historically, this is the most challenging month for stock returns during the year.
We have seen a lot of movement in the portfolio in the last few weeks. We have trimmed some positions as their weightings have become elevated and valuations have become stretched.
Elevated and stretched…sounds like a metaphor for ageing.
We have also seen a takeover offer for one of our smaller positions, Sangoma Technologies Corp. (STC-T), providing us with a small but positive impact on the portfolio.
To offset these changes, we have started adding to existing names that we feel are undervalued. We have also added an entirely new name and have several other ideas in the hopper as we look to employ some of the cash that has piled up in the portfolio.
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