Posted on October 20th, 2015 by David Baskin

David Baskin 10/20/2015 Promises are made to be broken, and nowhere is this more evident than in the realm of political promises. If we assume, however, that our new Liberal government follows through on its major economic pledges, here is what we see as the major impacts on our clients: • The top marginal rate […]

Posted on September 28th, 2015 by Barry Schwartz

  August and September have been tough months for Canadian investors; in fact tough for investors pretty much everywhere. The correction that everyone “correctly” predicted since the stock market started to recover in 2009 finally happened. There really has been no place to hide. As of September 11, 2015, pretty much every major asset class […]

Posted on August 24th, 2015 by David Baskin

  We human inhabitants of the 21st century like to think of ourselves as sophisticated, rational actors. Alert to nuance, loaded (perhaps flooded) with information, we believe that when adversity is present we will act calmly and intelligently.  We flatter ourselves.  At the back of our brains is a frightened animal.  When danger is perceived, […]

Posted on July 9th, 2015 by Baskin Administrator

July 9, 2015 Unloved and misunderstood, Canada’s specialty mortgage lenders continue to trade at cheap valuations. In short, they don’t get no respect. For Canadian investors who have reaped the benefits of owning Home Capital Group, it is the worst kept secret that specialty mortgage lenders are magnificent compounders of capital. In 2004, an investor […]

Posted on July 8th, 2015 by David Baskin

David Baskin July 8, 2015 Imagine that you are one of the richest persons in a medium-sized town.  In the town there are lots of businesses: shops, factories and farms.  All are hungry for capital to expand, and would gladly let you invest.  After doing some careful research and asking lots of questions, you choose […]

Posted on June 22nd, 2015 by Baskin Administrator

June 22, 2015 On occasion, we’re asked why we don’t invest in the initial public offerings (IPOs) of stocks that receive much of the press coverage. Examples include social media businesses, such as Facebook or Twitter, or perhaps the alternative energy sector. While lofty valuations provide enough justification to look the other way (price-to-earnings multiples […]