Energy Stocks: Unloved, Under-Owned and Undervalued

A situation currently exists that shares some similarities to the technology craze of the late 1990s to early 2000 period. During this time, everything but technology, telecom and media companies were labelled “old economy” and shunned by most investors as they chased the growth and promises of the new economy market darlings. Today, energy stocks feel like the “old economy” stocks of 20 years ago, many being left for dead with virtually no investor interest of any significance.

Value Earnings Outpace Growth Earnings

Stephen Jenkins outlines a surprising discrepancy that adds further support to the case for value.

The Value Minsky Moment is Near

Kim Shannon discusses the extreme spread between value and growth, reminiscent of the year 2000.

Hype Indicator Suggests Caution

Kim Shannon shares her observations about the growth of IPOs with negative earnings.

Dispersion Shows How Relatively Attractive Underperforming Value Is

Kim Shannon shares her observations about a chart outlining the current dispersion between growth and value.

Value Investing: Art vs. Science

Some say value investing is both an art and a science. It is an art because successful investing requires judgement honed from experience, an understanding of history to recognize patterns and the emotional fortitude to shield against psychological biases.  Investing is also a science because cold hard analytics can be applied. However, when investors focus too narrowly on any single metric, there is a temptation to rush to judge the attractiveness of a security or portfolio.

Stock Market Shakeout: Big Investors now Shun the Growth-at-all-Costs Model (The Globe and Mail)

Kim Shannon offers thoughts on the market's collective mania.

The Race to Restore CI Financial’s Glory (The Globe and Mail)

Kim Shannon provides insight into why CI Financial is a value opportunity.

What a Wicked (Investing) Game we Play

Financial markets can certainly be characterized as wicked environments. In investing, the rules of the game are always changing: competitive forces evolve, supply and demand dynamics shift, governing bodies turn over and macroeconomic variables swing.

Stephen Jenkins

Stephen Jenkins

Stephen joined Sionna in 2019 and is the Co-Chief Investment Officer. He is the co-lead Portfolio Manager for Sionna high conviction strategy and the lead portfolio manager for the firm’s global value strategy and focused U.S. value strategy. Stephen has more than 30 years of experience in both domestic and global equity markets. He began his career in 1990 as an analyst at Royal & Sun Alliance Insurance Company and was most recently Senior Portfolio Manager and Senior Vice President at CI Harbour Funds. Stephen currently sits on The Niagara Community Foundation's Investment Committee. Stephen is a graduate of Wilfrid Laurier University, where he earned an Honours Bachelor of Business Administration degree and is a CFA® charterholder.