With the Canadian capital market under siege again, we decided to brush off our 2006 essay, “Who is Afraid of the Canadian Stock Market”, and update it to address the current publicity. We find it interesting that Canadian investors are willing to consider severe criticism – that our market is sub-par and exposure to it should be minimized for our best interests – with very little backlash.
Sionna often speaks about the importance of prudent capital allocation in the art of investing. Accordingly, we strive to partner with management teams that carefully evaluate their investment alternatives and efficiently allocate capital toward high-return opportunities.
Among investors, there has been a perennial debate between those who adhere to Value, and those guided by Growth. As staunch believers in the former, we have opined on the topic several times in the past.
Despite the weakest post war economic recovery, heavy global debt burdens (debt to GDP at 125%) and brewing geo political issues, equity markets have been rather buoyant, especially in North America.
There is a lot of talk these days about the fate of Canadian oil. Specifically, there is much discussion surrounding two questions - does the U.S. still need Canadian oil and even if Americans need Canadian oil, is it stranded?
At Sionna Investment Manager’s 2014 Market Review, Portfolio Manager, Dave Britton, CFA, discussed our detailed investment process by illustrating how one company went from a potential idea to a portfolio addition.