October 2019 eUpdate - As Investment Advisors, we examine portfolio performance on a daily basis. In our May 2019 eUpdate, we highlighted the differences between "book value" and "invested capital" when reviewing a portfolio's performance. This topic continues to be top of mind.
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Smith Falconer Financial Group

October 2019 eUpdate

Are Averages Misleading?

As Investment Advisors, we examine portfolio performance on a daily basis. In our May 2019 eUpdate, we highlighted the differences between "book value" and "invested capital" when reviewing a portfolio's performance. This topic continues to be top of mind.

Are Averages Misleading?
In our latest quarterly Perspective Newsletter, we address the need to prepare for the inevitable down periods in every market cycle. Being prepared may help to minimize the risk of making a hasty, emotional decision. Looking at long-term averages can provide a good reminder of why it is important to remain invested.

On page 4,"Investing Stats and Figures: Why Averages Can Be Misleading" aims to remind us to look beyond the isolated averages and remember their purpose in helping to explain the big picture.



Very best regards,

CIBC Wood Gundy


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Smith Falconer Financial Group


CIBC Private Wealth Management consists of services provided by CIBC and certain of its subsidiaries, including CIBC Wood Gundy, a division of CIBC World Markets Inc. "CIBC Private Wealth Management" is a registered trademark of CIBC, used under license. "Wood Gundy" is a registered trademark of CIBC World Markets Inc.





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