Quarterly Bulletin Q4 – 2018

Monday, December 31st, 2018,

By mid-December stock markets had become so volatile that the financial markets were under a cloud of fear. Despite a rally that began on Christmas Eve, the markets racked up record losses for the month of December and were down sharply for the year. At year end, the S&P/TSX composite total return index was down […]

Quarterly Bulletin Q3 – 2018

Monday, November 19th, 2018,

Concerns that hacking represents a national security risk have become so serious that we now need to factor them into our transactions in the mergers and acquisitions market. An unusually high rate of failed transactions led us to examine why this happened, and we have taken the necessary measures to manage this risk.

Quarterly Bulletin Q2 – 2018

Tuesday, August 7th, 2018,

Throughout the second quarter there were hopes that the U.S. administration would finally understand that imposing tariffs, first on steel and aluminum and then on a long list of Chinese products, could only be bad for both the U.S. economy and the global economy. This hope quickly faded. The trade war between the U.S. and […]

Quarterly Bulletin Q1 – 2018

Thursday, May 10th, 2018,

We have known for several quarters that volatility would return to financial markets eventually, and it finally did in February, with a vengeance. The S&P 500 VIX volatility index, wich slumbered below its historical average of 16 for almost all of 2017 and even began under 10, shot up as 50 in early February.

Archives

2019

While we would have liked to add a few percentage points to the fund’s return for 2019, but for that we would have had to relax our risk management criteria, and that was not something we were willing to do. In a period of very low interest rates, the search for yield continued to drive […]

2018

Even though the period was marked by an unusual combination of upward trends, on both the equity and bond markets, and by a remarkable about-face by the U.S. Federal Reserve (the Fed), the Amethyst Fund performed well at the start of the year. The Fund’s three segments were able to seize opportunities and deliver attractive […]

2017

In the fourth quarter, the economic and political news was marked by a synchronized global economic upsurge, rapidly expanding corporate profits, the adoption of a sweeping tax reform bill in the U.S. and somewhat eased geopolitical tensions.

2016

A multitude of risk factors have unsettled the markets during the first six months of the year.

2015

Fortunately, the North American economy continues the expansionary momentum en-joyed over the last 5 years. Despite some ambiguous data, the improving economic conditions are palpable. We do not see any signs of a pending recession, therefore North American equity markets should do well. The risks perceived by investors are related primarily to three concerns.