A Reversion Expected (Audio)

Listen as Portfolio Manager, Gary Chow, discusses the current valuation spread between the Canadian
and U.S. markets.

Quality Real Estate will fill up Fastest in a Recovery Phase (BNN Bloomberg)

Kim Shannon, CFA, MBA
President and Co-Chief Investment Officer

Simplification

An Internet search on the subject of “ways to simplify your life” offers up hundreds of articles, reports and books on the seemingly popular topic. Many of these pieces are penned by so-called life gurus, and recommend solutions such as “declutter your house”, “remove toxic influences”, “take control of your finances” and the very popular “reduce your social media use”. The basic concepts of simplification transfer well to the world of investment management, and have been the core of investment philosophies of some of the industry’s most successful and esteemed investors, Warren Buffett included.

Visions of Value (Investment Executive)

Stephen Jenkins discusses the recent shift towards value and highlights an attractive opportunity in the North American space.

Canada Has Lower Price Multiples Than Anywhere Else (BNN Bloomberg)

Kim Shannon, CFA, MBA
President and Co-Chief Investment Officer

Low Bond Yields Are Not Deterministic of P/E Multiples (Audio)

Listen as Kim Shannon, explains the relationship between bond yields and P/E multiples.

Low But Rising Inflation is Good for Equities (Audio)

Listen as Kim Shannon explains what a low but rising inflation rate could mean for equities.

Focusing on the Long Game Under Stress

I looked up from my desk and found the market down more than 10%. The next day, it was up 10%. The day after, down 10% again. That violent yo-yo-ing was the reality this past spring. At one point, the S&P/TSX Composite Index lost a quarter of its value in about a week.

Reflecting on 2020, the most memorable (or rather, forgettable?) part of the year was the market freefall during the spring. Amid the chaos, our team triple-checked every holding’s balance sheet and the discounts on offer and acted decisively. During such a stressful period, how were we comfortable that we were making good decisions?

Stuart Tabor

Stuart is an Associate Portfolio Manager at Sionna and has been with the firm since 2020. Prior to joining Sionna, Stuart interned at both Burgundy Asset Management and RBC Global Asset Management. He earned his Bachelor of Business Administration, Advanced Finance Major and Minor in History from St. Francis Xavier University in Nova Scotia. Stuart has successfully completed Levels I and II of the CFA Program.