get our regular market updates
monthly briefs and insights right to your inbox
Portfolio Managers’ Brief: December 2025
Key Takeaways November 2025 Markets at New Highs, But Leadership Is Narrow North American equities hit new highs on cooler inflation and resilient Q3 earnings, but gains are increasingly concentrated in select sectors and mega-cap names. Day-to-day moves are being driven more by central bank messaging than the rate cuts themselves. Index Scorecard (YTD Snapshot) […]
Money Talks We Listen: December 2025 PARTS 1 & 2
Richard and Brian dive into Canadian Energy and what it means for investors today. They explore how oil, gas, and energy infrastructure are shaping market returns and in the follow-up episode, explore what’s driving sector rotation, how macroeconomic forces influence leadership shifts, and what these moves may be telling us about the market’s next phase.
A.I. Bubble?
In November, U.S. hyper-scalers saw their stocks sell off despite posting earnings that exceeded expectations. The downturn was largely attributed to investor unease over the massive capital outlays tied to A.I. data center expansion. Analysts are now asking the...
2025 Tax Year Changes
Federal Tax Cut Canada has reduced the federal income tax rate for the first tax bracket from 15% to 14%, effective July 1, 2025. Details of the Tax Cut Effective Date: The new 14% rate applies to income earned from July 1, 2025, onward. 2025 Blended...
Portfolio Managers’ Brief: November 2025
Key Takeaways November 2025 Markets at New Highs, But Leadership Is Narrow North American equities hit new highs on cooler inflation and resilient Q3 earnings, but gains are increasingly concentrated in select sectors and mega-cap names. Day-to-day moves are being driven more by central bank messaging than the rate cuts themselves. Index Scorecard (YTD Snapshot) […]
Portfolio Managers’ Brief: September 2025
Key Takeaways U.S. Market Leadership Canadian Market Momentum Index Performance (YTD) (September 25th , 2025) Valuation Concerns Fed Chair Powell’s Caution Technical Indicators Small-Cap Risks Central Bank Shifts Labour Market Cooling U.S. Canada Inflation & Policy Outlook Portfolio Positioning Final Thoughts
PILOT – Money Talks We Listen
Step behind the headlines as Richard and Brian act like referees in the financial arena—calling offsides, issuing penalties, and keeping the game fair. With no bias toward good or bad, every discussion is grounded in the clearest signal available: the movement of money. By following where dollars actually flow, they cut through noise and opinion to deliver fact-based insights, helping listeners understand the real forces shaping investment decisions and the markets.
Portfolio Managers’ Brief: August 2025
https://vimeo.com/1111666187 Key Takeaways – August 2025 Market Overview U.S. markets up ~9% YTD, led by a handful of mega-cap tech names (~35% of S&P 500’s value). TSX up ~12.5% YTD, driven by financials and energy; potential BoC cut in September could provide...
The Epstein Deflection
MID 2025 OUTLOOK Cue the music as we pay homage to the Eagle’s classic Hotel California. Where the ‘dark desert highway’ leads to a shimmering light cascading on an economic labyrinth that could be heaven or hell! Enter the Tiffany-twisted consumer and her pretty,...
Portfolio Managers’ Brief: July 2025
A brief review of market conditions and how they are impacting the management decisions of our Investment Review Committee (IRC).