Live From the Desk

Opportunity Knocks – Part 2

Part 2: What’s in a name? – Value is Growth We have received quite a few inquires about our Vertex Value Fund and how it has managed the out-performance it has over the last year (see below chart). Vertex Value Fund Class B: 1-year comparison to S&P/TSX Total Return Index There are many contributing factors …

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Inflation: tick tock, tick tock…

There is an old story about the head of the US Patent Office sending his resignation to U.S. President McKinley urging the closing of the patent office because “everything that could be invented has been invented”. The story’s legitimacy is debatable but when we hear modern pundits declare that it could forever be the end …

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Far From the Madding Crowd

Avoiding the Noise Occasionally the mute button can be an effective investment tool. Market and media clatter can be overwhelmingly loud, which can have the effect of inadvertently influencing ones decisions, many times, without improved results. The equity markets are especially noisy of late. For that reason, we have turned a deaf ear to much …

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Opportunity Knocks – Part 1

Part 1: Forecast calls for clearing skies As some of you may have noticed, our outlook in the 2011 year-end commentaries shifted from caution to forward looking optimism. So far this year, indicators have been promising with the markets (especially south of the border) providing consistent returns and the US economy surprising with a string …

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Hybrids with Power

Hybrids with Power: Battery not required We have been big fans of hybrid securities since the liquidity crisis of ’08-’09. Now we have even more reason to favour these investment vehicles. A hybrid security is a debt instrument which pays a fixed-coupon interest payment that will convert to a floating rate over LIBOR after set …

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