Soundbites
Soundbites briefly explore what’s on Sionna managers’ minds.
Hype Cycle Redux: Game of Pin the Tail on the Donkey
November 2025
Gartner's Hype Cycle serves as a reminder that excitement can outrun reality, narratives can outpace fundamentals, and even extraordinary technologies often follow very ordinary patterns. Many cycles reach a point when confidence swells just enough for investors to declare that the old rules no longer apply. That moment is usually where the trouble begins. Where would you place AI enthusiasm, hyperscalers, data centers, equity markets, private credit, or passive investing on the Hype Cycle today?
Company Spotlight: Finning
August 2025
Sionna's Trader and Equity Research Analyst, Hunter Corcoran, provides an update on Finning International and outlines our thesis on the name.
The Home Country Bias Series
June 2025
In this installment of The Home Country Bias, we feature a core holding across many of our strategies - Canadian Tire (CTC). The “Buy Canada” movement, paired with resilient consumer spending, targeted merchandising on behalf of CTC’s team, an expanded loyalty offering, and meaningful buyback activity, has positively impacted CTC's stock price this year. But, not all Canadian Tire’s success is due to the “luck” of being the quintessential Canadian retailer at a time of elevated patriotism.
Company Spotlight: Gold
May 2025
Portfolio Manager, Aleksy Wojcik, covers Sionna's gold exposure and outlines our thesis behind our selected gold holdings.
The Home Country Bias Series
March 2025
While auto original equipment manufacturers and suppliers have been at the center of discussions, other major industries are also feeling the effects of tariffs. In this installment of The Home Country Bias, we will look into the U.S. agriculture sector – and on multiple fronts.
A Resemblance to the 1966-1982 Sideways Market
March 2025
1966-1982 was a period of high inflation and weak economic growth: in short, stagflation. More recently, during the four years since rates bottomed and subsequently rose from the lows in the summer of 2020, the market has delivered a stealth value recovery in major markets outside of the U.S. (the U.S. market is distorted by the Magnificent 7 stocks). This seems reminiscent of the early stages of the 1966-1982 period.
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