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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).
Portfolio Managers’ Brief: June 2025
A brief review of market conditions and how they are impacting the management decisions of our Investment Review Committee (IRC).
Portfolio Managers’ Brief: May 2025
A brief review of market conditions and how they are impacting the management decisions of our Investment Review Committee (IRC).
Why So Sad?
Trying to make investment decisions while operating in a vacuous state is like trying to win at poker with a deck that keeps reshuffling itself mid-hand. A stray comment from a central banker, a vague tweet from a billionaire President, haphazard tariff headlines...
Potomac Fever
The forecasting business is premised on the position that “what-was-will-continue-to-be!” Within that framework, economists review historical precedents and assign probabilities to potential outcomes. The idea that predicting macro-economic outcomes is more art...
Portfolio Managers’ Brief: April 2025
A brief review of market conditions and how they are impacting the management decisions of our Investment Review Committee (IRC).
Capital Gains Taxation – Election Promises
The federal government announced in the February 2024 budget that the inclusion rate would rise to 66.7% (two-thirds) for capital gains exceeding $250,000 annually for individuals, as well as for corporations and trusts. However, in January 2025, the government deferred this change to January 1, 2026.
Portfolio Managers’ Brief: March 2025
A brief review of market conditions and how they are impacting the management decisions of our Investment Review Committee (IRC).
Trumpcession
Trumpcession? As we listen to President Trump’s tariff “jibber jabber” (the classic line from the hit show Boston Legal), we bear witness to a masterful example of speaking much and saying little! Think of the noise as an unscripted comedy that is all about...