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November Market Update
Matt Manara and Bryden Teich discuss the busy month of November for the markets and summarize how the 2020 election result and recent positive vaccine news are impacting different asset classes including stocks, bonds, and gold.
The economy is doing so poorly, so why are financial markets going up?
Over the course of 2020, the global economy has been forced to move through the throes of the COVID-19 pandemic. Combined with fears of a contested U.S. presidential election, social justice unrest worldwide and a new work-from-home environment, investor behaviour and the economy at large has been impacted in more ways than one.
The Bond Market View on Government Debt
In this episode Bryden Teich and Paul Gardner discuss the significant amount of government debt that has been issued thus far in 2020 and what the bond market is telling investors.
A Case Study On: The Valuation on Apple’s Stock
An examination of the valuation of Apple’s shares is an excellent way to demonstrate the extreme divergence that has taken place in the stock market in the last six months. Not much has changed in the underlying profitability of Apple. What has changed is that investors are willing to pay a mania-type multiple not seen since the 2000 dotcom bubble.
Eric Leuty
Eric Leuty AssociateEric plays a pivotal role at Avenue, ensuring that trading activities and daily operations run seamlessly. He is responsible for overseeing and continuously navigating the labyrinth of today's…
Bryden Teich, CFA®
Bryden Teich, CFA®Partner & Portfolio Manager Bryden is a CFA® charterholder and a member of Avenue’s investment committee. Bryden has portfolio management responsibly for both the equity and bond portfolios.…
Bill Harris, CFA®
Bill Harris, CFA® Partner & Portfolio ManagerBill is a CFA® charterholder and a member of Avenue’s investment committee. Bill is Avenue’s lead equity portfolio manager, working to find the next…
Strategy
Stable "Quality" Investing. Our core investment strategy is designed to compound your wealth over the long term. Avenue believes that predictable “quality” investments are the safest route. This gives us…
Matt Manara, CIM®
Matt Manara, CIM ®Partner & Portfolio ManagerMatt has a CIM® (Chartered Investment Manager) designation and commerce background. He is the first point of contact for clients interested in working with…
Paul Gardner, CFA®
Paul Gardner, CFA®Partner & Portfolio ManagerPaul is a CFA® charterholder and a member of Avenue’s investment committee. Paul is Avenue’s lead bond portfolio manager, specializing in corporate credit analysis. He…
Second Quarter Recap
In this episode, Bill Harris and Bryden Teich discuss the Avenue Q2 2020 Quarterly Letter and some of the things investors should be thinking about for the second half of 2020.
A Case Study On: Devaluation
The level of US Government debt was an issue before this recent crisis. Now we believe excess debt will come to define financial markets in the coming years.
The Federal Reserve & Real Yields
In Episode 9, Bryden Teich and Matt Manara discuss news from the recent Federal Reserve meeting and the concept of yield curve control. They highlight previous examples of yield curve control and the impact it had on real interest rates and asset prices.
What’s Driving the Stock Market?
Bryden Teich and Bill Harris discuss the partial recovery in the stock market during May and what has been driving the recent moves. They also discuss why the stock market and the underlying economy have diverged and highlight some of the fiscal and monetary policy responses that are causing this divergence. They also discuss the debate between Value vs. Growth investing in light of the current market environment.
Assessing the Bond Market
In Episode 7, Paul Gardner and Bryden Teich give an updated assessment of fixed income markets in April 2020. They talk about the impact that bond ETF’s had during the selloff in March and highlight a few areas where they are finding value in the corporate bond market.
COVID-19 & The Markets
In Episode 6, Bryden Teich and Bill Harris discuss the impact that COVID-19 has had on the markets and the global economy through the first quarter of 2020.
Q1/ Frequently Asked Questions
We have been getting lots of questions about how our investments are faring in the face of this historic market decline. We have attempted to lay out our comments in a question and answer format.
Market Update #2
In Episode 5, Bill Harris and Matt Manara discuss the incredible events in the global stock markets for the second week of March 2020.
Preferred Shares, Buyers Beware
Preferred Shares, Buyers Beware The preferred share market is really a retail phenomenon. RBC, TD, or any of the bigger banks have issued billions of dollars in these preferred…
Market Update
In Episode 4, Bryden Teich and Bill Harris discuss the events in the stock market for the last week of February 2020 and how Avenue has been positioned for this.
The Global Reach for Yield
In Episode 3, Matt Manara and Bryden Teich discuss the U.S. Federal deficit and how it is impacting the direction of monetary policy. They also discuss the reach-for-yield going on in corporate and high yield bond markets and discuss other risks they are seeing in the market.
A Wave of Central Bank Liquidity
In Episode 2, Bill Harris and Bryden Teich discuss how global stock markets are currently being impacted by central bank liquidity and relate that to previous periods of market exuberance. They also discuss the signal that the underlying economy is sending at the outset of 2020, and they discuss the outlook for the Canadian energy sector.
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