Rising Interest Rates and Inflation – What Does This Mean for the Equity Markets?


Despite a global pandemic the likes of which we have not seen since 1918, the S&P 500 returned +18.4% in 2020 (in USD). Underneath the surface, the distribution of returns paints a much more detailed picture. 77% of the return in the index was [...]

Rising Interest Rates and Inflation – What Does This Mean for the Equity Markets?2021-03-25T13:15:56-04:00

What Has Worked in 2021 (so far…)


The S&P500’s return in 2020 was very different from what we have seen work thus far in 2021. In 2020,  77% of the total return was driven by the top 10 holdings.  The mega-cap technology companies that were market leaders last year have been [...]

What Has Worked in 2021 (so far…)2021-03-19T14:43:55-04:00

The Spending Dilemma – Endowments and Foundations


The ultimate goals and purposes of specific foundations and endowments may vary slightly; however, these investments typically aim to provide stable and reliable payouts to support charitable missions and operations, while maintaining the independence from the institution and growing the endowed capital. Understanding the [...]

The Spending Dilemma – Endowments and Foundations2020-10-26T15:15:41-04:00

Looking Beyond the Bargain Bin


The first three quarters of this year will not be easily forgotten. The S&P 500 experienced the fastest selloff in history, declining 30% in only 22 trading days[1], spanning February to March, 2020. Subsequently, we have also witnessed one of the fastest recoveries in [...]

Looking Beyond the Bargain Bin2020-10-19T08:43:01-04:00

Fitting Dividend Growth into the Asset Pie


When most of us think of dividend strategies, we think of how much income we will receive today with a focus on the current yield. The types of companies that can deliver high yields are often mature companies with consistent, predictable cash flows. These [...]

Fitting Dividend Growth into the Asset Pie2020-10-01T18:01:29-04:00

Which Companies Value their Shareholders? Buybacks vs. Dividends


Throughout the past 20 years buybacks have become an increasingly popular way for senior management to use excess free cash flow generated from business activities. By reducing shares outstanding, buybacks increase the percentage ownership of ongoing shareholders. Unfortunately, buybacks do not treat all shareholders [...]

Which Companies Value their Shareholders? Buybacks vs. Dividends2020-09-28T16:36:28-04:00

Diamonds in the Rough


Much has been made of the unprecedented market rally over the past five months. Names like Apple, Google, Amazon, and Tesla have grabbed headlines by rewarding their investors with incredible returns since the March 23 lows; however, this spectacular performance among few high flying [...]

Diamonds in the Rough2020-09-28T09:24:54-04:00

Stagnant Wage Growth in Canada


Real wage growth in Canada has been stagnant over the past 30 years. After inflation, Canadians have been struggling to increase their income year-over-year, making it increasingly difficult to get ahead. Additionally, interest rates have been steadily declining throughout this same period, making it [...]

Stagnant Wage Growth in Canada2020-08-21T09:20:23-04:00

Uncovering the US Equity Market – Part 1


Bristol Gate’s US Strategy invests in companies listed on the S&P 500; however, the composition of our portfolio starkly differs from most passive and active growth US equity strategies. The main reason – the high concentration of FAANG+ stocks in the S&P500. The S&P [...]

Uncovering the US Equity Market – Part 12020-11-10T10:07:13-05:00

Uncovering the Canadian Equity Market


Passive index funds are a simple and fast way for investors to access a diversified portfolio. These funds provide the investor with index returns for a low cost. However, not all indices are the same with some being better suited for passive exposure than [...]

Uncovering the Canadian Equity Market2020-11-10T10:08:00-05:00

What’s Under the Hood?


How Dividend Growth Investing outperforms Dividend Investing Bristol Gate’s investment strategy is built on buying businesses that are poised to substantially grow their dividend over the next 12 months and beyond. Where many dividend investing strategies focus on the current dividend yield, we are [...]

What’s Under the Hood?2020-11-10T10:08:43-05:00

Welcome to the After-Hours


Many investors are familiar with the adage, “it’s about time in the markets, not timing the markets.” This holds true when attempting to call the top, find the bottom, and juggle the volatility in-between. A study by FMRCo[1] shows that missing out on only [...]

Welcome to the After-Hours2020-11-10T10:09:19-05:00
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