Monthly Commentaries

Septembers have traditionally received failing grades when it comes to their performance in the stock market. June and October are slackers too, but their failings somehow tend to be issued a passing grade by most investors.

2022 saw most balanced investors schooled in the main constituents of a balanced portfolio (stocks and bonds). Even educated investors had to quickly remind themselves that fixed income securities can lose value and that stocks aren’t the only asset class that can fluctuate every now and again.

“If it takes 200 years to achieve artificial intelligence, and then finally there is a textbook that explains how it’s done, the hardest part of that textbook to write will be the part that explains why people didn’t think of it 200 years ago…”Over the past twenty years I have developed a reputation for making prudent investment decisions for clients at inopportune times.

Sell in May and you will pay…Over the past twenty years I have developed a reputation for making prudent investment decisions for clients at inopportune times. While certainly not something to broadcast in my line of work, I suppose it is far better than making horrendous investment decisions at any time. As most of you are not professional investors, questions as to an investment’s underlying quality are usually deferred to us and we appreciate your trust. But as to the question of whether to invest in the first place or not, well, that one is more nuanced because it introduces an element of timing. In this seemingly crazier and crazier world, it never seems like a good time to invest.

Today’s central investing problems are something we have spoken about for years. And, we have prepared for this inevitability for just as long. Inflation and the higher and higher interest rates need to tame it are no longer just academic theory, they are modern investing reality.

With this commentary, we plan to communicate with you every month about our thoughts on the markets, some snapshots of metrics, a section on behavioural investing and finally an update on MacNicol & Associates Asset Management (MAAM). We hope you enjoy this information, and it allows you to better understand what we see going on in the marketplace.

MacNicol’s Monthly Commentary - December 2022 With this commentary, we plan to communicate with you every month about our thoughts on the markets, some snapshots of metrics, a section on behavioural investing and finally an update on MacNicol & Associates Asset Management (MAAM). We hope you enjoy this information, and it allows you to better [...]

MacNicol’s Monthly Commentary - November 2022 With this commentary, we plan to communicate with you every month about our thoughts on the markets, some snapshots of metrics, a section on behavioural investing and finally an update on MacNicol & Associates Asset Management (MAAM). We hope you enjoy this information, and it allows you to better [...]

MacNicol’s Monthly Commentary - September 2022 With this commentary, we plan to communicate with you every month about our thoughts on the markets, some snapshots of metrics, a section on behavioural investing and finally an update on MacNicol & Associates Asset Management (MAAM). We hope you enjoy this information, and it allows you to better [...]

MacNicol’s Monthly Commentary - August 2022 With this commentary, we plan to communicate with you every month about our thoughts on the markets, some snapshots of metrics, a section on behavioural investing and finally an update on MacNicol & Associates Asset Management (MAAM). We hope you enjoy this information, and it allows you to better [...]