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January 2016 |
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Market Commentary
It has not been a comfortable start to 2016 for investors. China's surprising decision to devalue its currency has raised red flags throughout global markets, sending the price of oil and other commodities tumbling, and shaking some of the very best companies. Some panic selling has taken place around the world.
Last week we were asked when the market would bottom. No one can know the answer, but we do know that making significant investment decisions in reaction to the global events of the day is trading, rather than investing. In most of our clients' portfolios, remaining invested is the right strategy.
In these uncertain times, we counsel you to not follow the crowd, or fears. At Smith Falconer Financial Group we focus on buying businesses with solid return potential stemming from a combination of growth and sustainable, growing dividends.
These businesses are "on sale" today, some significantly. Remain patient. We look forward to speaking with you and reviewing your circumstances, putting cash to work opportunistically.
In the meantime, may we suggest you stay the course.
Very best regards,
CIBC Wood Gundy
Smith Falconer Financial Group
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This information, including any opinion, is based on various sources believed to be reliable, but its accuracy cannot be guaranteed and is subject to change. CIBC and CIBC World Markets Inc., their affiliates, directors, officers and employees may buy, sell, or hold a position in securities of a company mentioned herein, its affiliates or subsidiaries, and may also perform financial advisory services, investment banking or other services for, or have lending or other credit relationships with the same. CIBC World Markets Inc. and its representatives will receive sales commissions and/or a spread between bid and ask prices if you purchase, sell or hold the securities referred to above. © CIBC World Markets Inc. 2015
Clients are advised to seek advice regarding their particular circumstances from their personal tax and legal advisors.
® Portfolio Partner is a registered trademark of CIBC World Markets Inc. There are a maximum number of commission-free trades allowed each year, based on the value of your account. Trades and annual fees are pro rated on an annualized basis. A standard trade fee applies to excess trades. A minimum household account balance of $100,000 is required.
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