Investment Commentary / Newsletters
September 30, 2024
High week, late cycle, gilded supply, GDP rise, pending accident, China stimulus, sector recession, East watch
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September 23, 2024
Magnificent tarnish, surprise 50, Fed knowledge, positive curve, low inflation, majority rise, precious safety
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September 16, 2024
Topping volatility, fifty expectation, curve positivity, recession signs, default brink, precious disconnect
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September 2, 2024
Non-unanimous highs, Dollar higher, gold small, seasonal weakness, recession indicator, precious valuation
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August 26, 2024
Dovish culmination, labour focus, payroll spark, likely lockout, long inversion, landing trigger, differed Dollar
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August 19, 2024
Reversed outlook, precious highs, cut babble, associated complacency, staple trajectory, unanimous rise
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August 12, 2024
Weathered insurance, ambivalent jobs, volatility normality, raised rates, precious gain, geopolitical energy
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August 5, 2024
Sweet harvest, cash buffet, job short, red week, weak energy, Canada beat, soft unlikely, cut apt, bright gold
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July 29, 2024
Divisive backdrop, wobbly markets, DJI benefit, signals close, golden outlook, copper skids, BOC cut
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July 22, 2024
Added twist, repeat risk, precious cheapness, reversed highs, yield fears, cut expectation, glut fear, oil rest
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July 15, 2024
Panic trigger, dangerous divisions, apparent jobs, yield signal, speculated cut, toppy gold, reversal sign
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July 1, 2024
Debt unsustainability, recessionary signs, reversed highs, topping indications, metallic creep
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June 24, 2024
Signal impacts, some highs, unresolved divergences, precious consolidation, election division, oil recovery
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June 17, 2024
Fed unchanged, downside surprise, bubbly FAANGs, mania grip, divergent markets, precious lid, oily bounce
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June 10, 2024
Inflation history, new highs, growing divergences, rosy jobs, rot risk, precious bull, golden caveat
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June 3, 2024
Indictment first, armageddon belief, precious benefit, collision course, market divergences, weak energy
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May 20, 2024
Historical crisis, rate response, bubbly result, current resilience, wobbly properties, precious rally, oily poise
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May 13, 2024
Fed watchers, golden loads, job explosion, market chug, broad topping
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May 6, 2024
Rate stability, inflation stick, job weakness, confidence wane, market stimulus, commodity fall, bank watch
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April 29, 2024
Potential stagflation, commodity friend, market foe, negative savings, gold corrects, oil rebounds, gas hangs
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April 22, 2024
Topping signs, bank roll, sanction barrier, tariff increase, tarnished seven, material rise, defensive energy
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April 15, 2024
Precious record, shaky stocks, war notch, cut question, booming commodities, energetic domination
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April 8, 2024
Fight fear, precious highs, rising energy, hoodwinking jobs, wobbling stocks, media mix, monetary expansion
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April 1, 2024
Bridge disruption, weather events, geopolitical concerns, market highs, living cycle, persistent inflation
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March 25, 2024
Rate news, economic bump, copper lead, Magnificent falter, market highs, shaky look, positive energy
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March 18, 2024
Possible tops, rate fear, delinquent backdrop, metal rise, geopolitical tensions, energy stress, H20 extremes
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March 11, 2024
Unchanged BOC, high indices, precious sense, job divergence, astronomical debt, awaiting energy, geo same
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February 26, 2024
New highs, yield slip, oil pullback, precious accumulation, potential top, due debt, sticky inflation
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February 19, 2024
Vibrant inflation, slowing economy, various failures, rising oil, geopolitical concerns, possible turn
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February 12, 2024
Ostensible rosiness, market highs, continued magnificence, miserable metals, geopolitical drivers
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February 5, 2024
Break points, Magnificent rise, potential divergence, life left, inflation muse, job issues, possible bottoms
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January 29, 2024
Potential pivot, expected hold, inflationary clashes, liquidity facility, market highs, gold waffle, energy soar
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January 22, 2024
New highs, negative divergence, commodity fall, inflation heat, copper poise, uranium spike, likely turmoil
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January 15, 2024
Rising temperature, gold driver, slowing signs, expected cuts, 1970s similarity, trifecta lean, Dow divergence
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January 8, 2024
Magnificent falter, trifecta monitor, camp division, good jobs, economic concern, hopeful energy, gold glows
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December 18, 2023
Bubbly markets, falling yields, dovish Fed, slowing economies, precious perk, commodities potential
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December 11, 2023
High jobs, golden reversal, market divergences, fallen energy, some highs, yield expectations, Santa rally
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December 4, 2023
Surprise economy, Canada works, bond bear, low energy, golden highs, overbought markets, diverging signs
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November 27, 2023
Magnificent lead, gold poise, changin’ times, commodity stars, Argentinian outsider, bond appeal, lower CPI
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November 20, 2023
Denial rally, golden Fed, declining energy, overbought potential, Dollar crack, bond rally
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November 13, 2023
Stock divergence, rate effect, sovereign trouble, savings fall, spooked gold, energy concern, attack rumour
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November 6, 2023
War markets, commodities spark, rate expectations, low jobs, resultant rally, golden follow
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October 30, 2023
Crash similarities, JPM sale, broken support, golden spike, oil rebound, toppy yields, possible haven
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October 23, 2023
Risk impact, cycle position, golden haven, commodities rise, curve steepens, sensitives underperform
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October 16, 2023
1973 selloff, impending embargo, rhyming wobble, crucial oil, golden haven, rallied treasuries
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October 9, 2023
Ousted speaker, surprise jobs, up markets, war outbreak, bond bear, rising risks, oil correction, gold rebound
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October 2, 2023
Fraying markets, strong energy, deep divisions, Dollar domination, precious optimism, spending push
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September 25, 2023
Hawkish guidance, market gap, yield spectre, looming shutdown, steady oil, jumping gas, steady gold
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September 18, 2023
CPI rejoicing, reversal warning, precious struggle, TSX outperformance, overbought oil, expected pause
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September 11, 2023
Iffy markets, seminal events, surprising jobs, languishing gold, rising energy
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September 4, 2023
Worst month, high energy, slow tip, weakening labour, rising uranium, commodity lead, perking health
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August 28, 2023
Hawkish chair, mixed market, Everything Bubble, ticking bombs, golden signs, energy upside
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August 14, 2023
Summer doldrums, China deflation, topping signs, BRICS currency, precious struggle, oil rise, silver signs
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August 7, 2023
Debt downgrade, hike fears, weak jobs, precious gains, soft expectations, toppy signals, high debt, bright oil
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July 31, 2023
Markets rise, need confirmation, German recession, curve inverts, risks lurk, rates rise, gold resists, oil perks
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July 24, 2023
Inflationary grain, commodity cycle, silver outperformance, market highs, oily resistance, rate clues
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July 17, 2023
Summer rally, moderating inflation, precious heat, downside wave, July jobs, Fed shrinks, energetic poise
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June 26, 2023
Correction mode, hikes expected, declining liquidity, bottoming energy, oversold metals, borrowed time
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June 19, 2023
Tech power, inversion warning, sentiment drags, good jobs, unsupported scaremongers, interesting laggards
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June 12, 2023
Potential pivot, hike agenda, low jobs, chip war, reduced coverage, stock divergence, golden fail, oil slosh
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June 5, 2023
Blowout jobs, unemployment up, narrow rally, AI rises, mining down, ceiling passes, oil rebound
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May 29, 2023
Dominating ceiling, recession indicators, inflated gold, narrow rally, awful commodities, precious N
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May 22, 2023
2022 losses, looming ceiling, inflation height, G7 lag, limited gains, hikes unlikely, golden aid, bottoming oil
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May 15, 2023
Dominating themes, real crisis, Canadian strength, cheap mining, stock divergence, energy bottom
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May 8, 2023
Robust jobs, expected hike, negative divergences, recession signs, precious highs, oil low
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May 1, 2023
Tepid gains, negative divergence, likely hike, bank demise, crazy spread, debt war, gold gain, energy struggle
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April 24, 2023
Threat chronicle, change cycle, safe haven, agriculture impact, market headwinds, commodity stumble
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April 17, 2023
Inflation correlation, see-saw battle, tentative stocks, Dollar reversal, precious seasonality, energy strength
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April 10, 2023
Topical de-dollarization, pivot bullishness, recession threat, gold resistance, poised oil, bitcoin rise
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April 3, 2023
Topical de-dollarization, pivot bullishness, recession threat, gold resistance, poised oil, bitcoin rise
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March 27, 2023
Bank bailout, continued hikes, no QE, wobbly realty, limit looms, golden value, weak energy, perched Dollar
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March 20, 2023
Volatile week, tech strength, golden safety, soaring bonds, flattened curve, recession hint, Fed protection
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March 13, 2023
SVB surprise, iceberg tip, gold spark, bond rally Dollar drop, energy decline, debt war, Ukraine threat
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March 6, 2023
Long bear, inflation pressures, record jobs, debt crunch, deteriorating Dollar, recession looming
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February 27, 2023
Inflation bugaboo, Russia bent, real charts, teetering equity, yields up, debt load, golden languish, oil poise
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February 20, 2023
Hawkish Fed, market rebound, energy decline, recession indicators, strong employment, gold purchase
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February 13, 2023
Surprising bullishness, notorious February, eery gold, Dollar break, blockbuster jobs, soaring energy
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February 6, 2023
Risk on, rate rise, liquidity drop, job surprise, vulnerable housing, confidence slip, gold scare, energy bottom
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January 30, 2023
Bear rally, hike likely, pause possible, recession indicators, Dollar history, stock divergence, energy wobble
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January 23, 2023
Intact bear, negative signs, strong labour, debt limit, Dollar attack, Japan zombies, golden resistance, oil up
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January 16, 2023
Positive barometer, moderated CPI, rising reserves, ceiling crisis, expert predictions, landing risk
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January 9, 2023
Good jobs, hikes aside, negative divergences, market defiance, golden shine, low energy, January barometer
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December 19, 2022
Difficult year, escalation possible, Ukraine war, persistent inflation, recession threat, commodity hope
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December 12, 2022
Potential hole, better inflation, hike fear, gold flat, stocks down, soaring gas, low energy
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December 5, 2022
Stock resistance, Dollar support, slowing thoughts, topping evidence, job surprises, capped energy
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November 28, 2022
Grudging gains, five p’s, reserves rise, holdings fall, Dollar declines, golden equity, negative energy, cap talk
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November 21, 2022
FTX domination, bubble bottoming, crypto pain, volatility comparison, golden relic, market falter, oil dip
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November 14, 2022
Upward correction, bug talk, CPI catalyst, long recession, Washington music, crypto collapse, chilly warmth
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November 7, 2022
Rate fear, job jets, record spreads, recession signal, precious gain, Dollar sink, energy surge, suckers beware
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October 31, 2022
Reversal legs, hike bite, bubble burst, better GDP, upward Dollar, precious pressure, poised energy, BOC fifty
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October 24, 2022
Liquidity threat, yield highs, rally legs, 1970s similarity, golden wave, full energy, currency intervention
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October 17, 2022
Worst ahead, markets sink, temporary bottom, dislocating Dollar, precious posing, poised oil, grocers feed
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October 10, 2022
Sporty volatility, unlikely collapse, cool jobs, currency intervention, crash condition, gold value, OPEC shock
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October 3, 2022
Growling bear, depression cycle, precious reversal, Canada outperforms, oil cut, hurricanes compared
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September 26, 2022
Multiple breaks, soaring Dollar, sovereign potentials, shrinking earnings, possible relief, negative spreads
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September 19, 2022
Swoon trigger, increased rates, Dollar jump, silver divergence, golden poise, precarious DJI, preferred stocks
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September 12, 2022
Bear rebound, Central hikes, energy bailouts, oil caps, sinking currencies, recession risk, nuclear restart
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September 5, 2022
Generational turmoil, rebound end, lagging jobs, reversal day, energy crunch
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August 29, 2022
Pivot put, inflation wrestle, rate rise, energy brew, Dollar climb, cheap Canada, bear roar, housing wobble
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August 15, 2022
Risk appetite, suckers rally, C wave, misplaced elation, mounting dangers, topping wariness, breaking gold
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August 8, 2022
Alternate GDP, money growth, job surprise, hike fear, market resistance, tense Taiwan, energy hit, bear rally
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August 1, 2022
Unofficial recession, vulnerable housing, wobbling governments, destroyed wealth, summer rebound
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July 25, 2022
Inconclusive watch, eurosino contagion, market resistance, golden optimism, energetic waver, wheat deal
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July 18, 2022
Rally prep, risk management, golden sentiment, slick correction, Dollar risk, bank run, inversion signal
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July 11, 2022
Red sea, bottom attempt, energetic half, precious cycle, cap backfire, Dollar hurt, war talk, mixed jobs
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June 27, 2022
Holiday volumes, likely landing, expectations driver, tradeable leg, golden poise, favoured stocks, dollar rival
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June 20, 2022
Official bear, possible rebound, golden optimism, buying time
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June 13, 2022
Inflation storm, FOMC hike, confidence tank, capitulation opportunity, detached gold, green need, good jobs
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June 6, 2022
Unexpected jobs, inflation fears, yields up, markets down, Canada hikes, Misery Index, high energy
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May 30, 2022
Memorial signals, awaiting confirmation, Russia default, rising prices, crisis trigger, gas high, toppy yields
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May 23, 2022
Fed growth, inflation fight, continuing collapses, bear rally, slick consolidation, golden poise, cycle top
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May 16, 2022
1939 precedent, crypto vapor, depressing news, possible low, oily buoyancy, tenacious gold
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May 9, 2022
Bear similarities, economy ok, jobs good, inflation lingers, stocks down, energy up, golds struggle
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May 2, 2022
April astounds, problems mount, energy soars, correction deepens, vol reigns, rates worry, gold glimmers
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April 25, 2022
Abnormal April, lockdown problem, yield breakout, lagging salaries, taming hawk, golden defense, tech bear
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April 18, 2022
Falling indices, select sectors, stagflation possible, demand destruction, supply disruption, rates up
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April 11, 2022
Contracting trade, globalization threat, hawkish fed, war spark, richest Musk, best TSX, sector uptrends
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April 4, 2022
Currency wars, supremacy attack, food riots, low jobs, cloudy rise, inverting yields, golden divergence
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March 28, 2022
Bond crash, metal rise, proxy participation, sucker rally, golden haven, moving energy
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March 21, 2022
Financial floods, bubble busts, inflation solution, currency strain, stalemate rally, value up, commodity shine
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March 14, 2022
Interrupted trade, 1970s inflation, Russian default, gangbusters jobs, commodity squeeze, stock fall
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March 7, 2022
Financial war, soaring commodities, sanction ramifications, protection purchase, high jobs, rate hikes
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February 28, 2022
Invasion foreshadowing, market unrest, war-impacted inflation, commodity powerhouse, sanction squeeze
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February 21, 2022
Russian rattle, non-transitory inflation, soaring energy, golden safety, correction nature
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February 14, 2022
Blockade costs, invasion fear, price worry, dampened debt, hike speculation, consumer sink, value shift
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February 7, 2022
Unrosy jobs, trapped Fed, QT underway, anticipatory waver, bearish growths, undervalued golds, cheap oil
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January 31, 2022
January down, tech leads, value shines, jobs hopeful, Reserve hawkish, Dollar up, gold hoard, war reactions
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January 24, 2022
Winding down, rate fears, political drag, war drums, covid rage, bright energy, gold rises, consumer warning
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January 17, 2022
Tippy inflation, falling sentiment, high ownership, oversold technology, golden rise, energetic increase
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January 10, 2022
Topping rhyme, rising rates, unfriendly jobs, energy highs, golden rebound, be prepared
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December 20, 2021
Risk forecast, taper impact, non-transitory inflation, golden shine, yields down, growling bear
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December 13, 2021
Inflation cries, bond divergence, precious tread, silver leading, Fed taper
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December 6, 2021
Kondratiev relevance, jobs discrepancy, markets falling, golden shine, energy divergence, banner year
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November 29, 2021
Friday special, Powell reaction, gold crash, stock mini-crash, oil crash, Dollar thrust, yield fall
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November 22, 2021
Gradually suddenly, market divergence, flood cost, inflation fixture, BDI fall, golden zone, gas up
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November 15, 2021
Inflation hyperventilation, stumble possible, commodity haven, melt-up alive, no hikes, energy falter
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November 8, 2021
Renewable breakout, expected taper, no hike, possible blow-off, yield down, perky gold, good jobs, shale up
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November 1, 2021
Trillion Tesla, dueling Rogers, taper talk, maybe stagflation, best three, golden effort, uranium lead, high oil
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October 18, 2021
Perfect storm, markets rising, swift rebound, oil highs, struggling gold, leading stocks, elusive breakout
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October 11, 2021
Ceiling save, Evergrande pause, waning economy, energy crunch, Canada recovery, toppy market, solid gold
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October 4, 2021
Conspiring pressures, lowering markets, positive divergences, golden undervalue, oily climb, gassy highs
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September 27, 2021
Evergrande trigger, debt fight, resistance passed, gold encouragement, energy disruption
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September 20, 2021
Vote issues, sentiment turn, debt battle, Chinese risk, gold whack, strong economy, taper talk, energy wind
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September 13, 2021
Clouds gather, divergences abound, bear conditions, supply disrupted, gold bottom, unconfirmed energy
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September 6, 2021
Climate costs, jobs disappointment, variant concern, gold rally, correction potential
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August 30, 2021
Fiat experiment, rock warning, September shine, Delta hold, debt wrestle, looming shutdown, ominous rise
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August 23, 2021
Delta rise, heat impact, gold view, toppy market, downward revision, taper watch
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July 24, 2021
Market highs, diverging transports, impending pullback, gold support, strong Dollar
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July 19, 2021
Possible top, indicators diverge, Canadian-only taper, commodity pullback, defensive switch, bond warning
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July 12, 2021
Taper question, job ecstasy, financial tear, gold frustration, oil topping, market divergence
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July 5, 2021
Jobs grow, labour falls, stocks up, yields down, Dollar climbs, gold rises, oil diverges, West burns
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June 28, 2021
Usual highs, following swoon, money supplied, gold relationship, steadied Dollar, OPEC damper, West heat
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June 21, 2021
Hawkish Fedspeak, limited correction, Dollar leap, golden comparison, yield anomaly, currency debasement
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June 14, 2021
Turmoil crises, inflation jump, bond rally, Fed taper, reverse repos, precious consolidation, oil high, fall wary
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June 7, 2021
Top signs, low vol, opposed headlines, disappointing jobs, short labor, metals crossroad, high oil, steady fed
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May 31, 2021
Possible volatility, corrective bull, high CAPE, overblown hysteria, golden struggle, energetic rally, job spark
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May 24, 2021
Following highs, golden consolidation, crashing cryptos, toppy oil, lumber pullback, reverse repos
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May 17, 2021
Monetary worry, hysteria fuel, tech divergers, inflation thrivers, precious risers, weakly energy
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May 10, 2021
Inflation sense, low jobs, gold jump, boggling canine, diverging FAANGs, toppy oil, pullback possibility
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May 3, 2021
Bubble tears, inequality plague, Indian collapse, stellar numbers, May sell, shallow correction, gold bottom
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April 26, 2021
Plagued tension, tapered easing, commodity jump, diverging markets, record margin, poised gold, oil waver
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April 19, 2021
Misplaced fear, precious hedge, bubble joke, overbought indicators, gold breakout, copper surge, bright oil
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April 12, 2021
Bubble watch, housing elevation, inflation perks, lockdown impact, FANGless party, gold resistance, oil wave
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April 5, 2021
Archego liquidation, Biden stimulus, golden cycle, market bull, Fed backing
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March 29, 2021
Liquidity trap, silver waves, diverging transport, mild correction, resistant high, precious support, ship chaos
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March 22, 2021
Bubble phases, fund shift, overleveraged market, bottoming gold, oil support, economic optimism
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March 15, 2021
Empire decline, Canadian surprise, stock highs, infinite QE, excited bugs, energetic winners, crypto mania
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March 8, 2021
Money push, job rot, low inflation, positive conditions, oversold gold, shorts cut, OPEC cuts
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March 1, 2021
Funky economies, stock fuel, political shift, zombie companies, concerning interest, gold lag, corrective pose
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February 22, 2021
New gold, long rates, cold chaos, settling oil, relentless markets, metallic divergence
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February 15, 2021
More mania, eerie similarity, option surge, commodity Supercycle, shortage driver, outshining silver
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February 8, 2021
Euphoria reigns, commodities rise, yields increase, fossils cycle, supply tightens, jobs disparity, faltered gold
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February 1, 2021
Retail week, negative Barometer, fed bailouts, world risks, gravity defied, silver soar, gold lethargy, toppy oil
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January 25, 2021
Biden begins, market highs, debt surge, inflation hold, everything bubble, K recovery, venture boom
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January 18, 2021
Historic US, divergent indicators, call high, rising yields, gold weight, awaiting inauguration, reign history
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January 11, 2021
Democracy assault, higher markets, bitcoin mania, rates soar, gold down, oil rises, worse possible
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January 4, 2021
Global recession, two gains, debt fuel, liquidity injections, low rates, blow off, election controversy, job signs
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December 21, 2020
Runaway possible, like 1987, like 1998, Santa rally, January effect, overvaluation stamina, gold seasonals
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December 14, 2020
Forecast themes, correction opportunities, pumping fed, growing debt, retreated bears
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December 7, 2020
Not 536, records set, debt soars, golden life, broken dollar, oil cusp, pandemic rage, faltering jobs, rate creep
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November 30, 2020
Different worlds, assassination trigger, fraud calls, bond cycles, gold low, energy breakout, annus horriibilis
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November 23, 2020
Constitutional rage, topping appearance, dead stimulus, outperforming value, floundering gold, perking oil
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November 16, 2020
Maybe vaccine, tossed lawsuits, highs reversed, constitutional grip, precious effects, boom possible
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November 9, 2020
Election challenges, gridlock love, considerable resistance, long bull, precious poise, dollar hit, oil nowhere
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November 2, 2020
Winter discontented, golden haven, not oversold, downward energy, diverging gas, stormy south
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October 26, 2020
Contentious election, aftermath chaos, toppy divergences, rising rates, ravaged revival, small-cap challenge
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October 19, 2020
Presidential cycle, potential top, comparative production, renewables outperform, precious consolidation
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October 12, 2020
Destabilizing swan, eery comparison, golden best, supply predictor, miraculous recovery, stimulus whipsaw
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October 5, 2020
Non debate, ailing president, October crash, pending election, jobs disappoint, bumpy ride, golden returns
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September 29, 2020
A Reserve Currency does not last Forever
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September 28, 2020
Countertrend bounce, COVID spark, Dollar up, yields fall, gold lower, banks launder, green rise, election hint
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September 21, 2020
Election heat, pandemic economy, massive tensions, faltering market, Fed balance, 2023 rates, gold falters
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September 14, 2020
Reserve currencies, shelf life, money supply, velocity diverges, stock drop, gold hold, cruel low, second wave
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September 7, 2020
Highs reversed, verification needed, cruel September, president’s fed, jobs lost, gold caught, negative yields
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August 31, 2020
Record march, rising divergences, mania phase, job optimism, daily layoffs, Fed focus, precious correction
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August 24, 2020
Another record, richer rich, narrow lead, mounting divergences, precious correction, presidential plans
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August 17, 2020
Gold mini-crash, high failure, DJI lag, mixed TSX, different time, consumer-Dow correlation, weakest months
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August 10, 2020
Gold high, silver outperform, Friday reversal, stocks rise, rates low, financial stimulus, economic plague
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July 20, 2020
FAANGS fall, saviours fly, divergences abound, money expands, gold rises, Dollar falls, uncertainty rises
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July 13, 2020
Virus records, earnings fall, markets rise, QE3 lifts, technicals diverge, gold bull, narrow outperformance
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July 6, 2020
Unique half, millions unemployed, streets riot, election backdrop, narrow high, Godzilla debt, golden limit
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June 29, 2020
Gloomy forecasts, shutting again, protests continue, polarized election, empire fall, Gini grows, gold glows
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June 22, 2020
Slowed Fed, soaring stocks, rioting streets, top 20, bottom 80, coronavirus soars, vaccine race, election nears
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June 15, 2020
Party end, grinding down, dollar rally, bonds up, gold rises, oil falls, unemployment surges, vacancies decline
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June 8, 2020
Dichotomy backdrop, shocking jobs, wild Friday, stretched valuations, top warning, gold correction
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June 1, 2020
Two streets, one coin, polar opposites, market danger, gold poise, vaccine woes, city fires, China tension
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May 25, 2020
Great re-opening, buy rumour, sell news, disconnect continues, Fed liquidity, gold highs, oil steam
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May 18, 2020
Reopening risks, toppy divergences, breakout verges, ugly numbers, coronavirus consolidates, oil divergence
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May 11, 2020
Great disconnect, trillions thrown, Main devastation, happy Wall, golden projection
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May 4, 2020
Pandemic waves, April best, bear rally, gold swoon, silver underperformance, oil bear, trading opportunities
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April 27, 2020
Wild oil, pandemic domination, bigger bear, fallen velocity, golden shine, PMIs down, junior life
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April 22, 2020
Technical Scoop Oil Commentary
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April 20, 2020
Morphed crisis, predictive curves, unconfirmed rebound, deteriorating bonds, commodity opportunity
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April 13, 2020
Black swan, historical bailout, record debt, bailout benefit, rebound rally, golden shine, narrow doorway
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April 6, 2020
Stunned jobs, shutdown forecast, bear anatomy, feeble gold, Dollar rise, euro question, oil move, April hope
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March 30, 2020
Secular bear, stunning numbers, lurking debt, overheated housing, gold demand, energy disaster
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March 23, 2020
Second monster, lifeboat shortage, gold/silver high, widening spread, USD surge, faltering haven, spring sun
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March 16, 2020
Record crash, recovery phase, dominant fear, tradeable rally, swift bear, stalking plague, rising sun
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March 9, 2020
March lion, COVID volatility, golden performer, slashed rates, ongoing repo, bear territory, oil war
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March 2, 2020
Virus spark, intermediate top, few hide-outs, overvalued complacency, golden poise
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February 24, 2020
Irrational exuberance, COVID-19 surprise, negative spread, gold target, divergences abound, stimulus fuel
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February 17, 2020
Tireless melt-up, COVID-19 immunity, same themes, inconsequential debt, Greek yields, foreboding spread
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February 10, 2020
Rickards war, helicopter money, falling rates, creeping signs, strong numbers, precious hold
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February 3, 2020
Non-trial headline, economic flu, sharp volatility, confirmation vital, gold benefit, spread creep, China gap
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January 27, 2020
Epidemic affect, gold rise, market swoon, bond benefit, spread narrowing, dollar hegemony, dotcom bubble
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January 20, 2020
Potential pivot, records fall, greed wins, bears hibernate, gold consolidates
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January 13, 2020
Barometer highs, Early Warning, war effect, recovery time, impeachment threat, looming election
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January 6, 2020
Bang start, maybe top, gold soar, yield fall, haven sought, election promise, climate cost, decade following
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December 30, 2019
All-time highs, overbought territory, golds break, dollar falls, repo continues, yields fall, healthy energy
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December 23, 2019
Golden optimism, lingering concerns, new highs, DJI divergence, frothy indicators, low anniversary
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December 16, 2019
2020 Market and Economic Forecast, possible peak, systemic risks, all-time highs, gold low, USD support
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December 9, 2019
Whipsaw week, tariff spook, gangbuster payroll, reinversion warning, repo mystery, Q warning
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December 2, 2019
Nine turn, recession unlikely, slowdown ongoing, continued repo, blue skies, debt high, beckoning Santa
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November 25, 2019
Potential reversal, protective positioning, background noise, repo mystery, Thanksgiving fade
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November 18, 2019
Suspense continues, broadening channel, three scenarios, trifecta wish, golden rebound, derivative risk
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November 11, 2019
Market argument, following bust, average boom, rate risk, negative warning, positive concern, gold corrects
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November 4, 2019
Market highs, channel tops, best months, news front-running, indicator mix, bullish gold, margin expansion
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October 28, 2019
Market chug, international break-out, QE fuel, 90th anniversary, distribution signs, positive spread
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October 21, 2019
Churning markets, topping process, widening spreads, recession closer, abounding divergences
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October 14, 2019
Trade peace, precious downswing, rate jump, positive spread, market volatility
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October 7, 2019
Trade save, unusual intervention, weak economy, unemployment low, gold correction, employment story
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September 30, 2019
Impeachment impact, repo action, U.S. resilience, positive curve, toppy market, scary October
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September 23, 2019
Expected cut, repo intervention, stocks decline, rosy gold, drone jump, slowing economy, maybe top
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September 16, 2019
Bolton thirteen, oil attack, wiggle high, corrective gold, less inverted, wishful bashing, expected cut
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September 9, 2019
Highs threat, gold tank, trade nice, economy slide, Canada works, cut expectation, support zone
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September 2, 2019
Maybe tsunami, mixed signals, notorious September, topping gold, warning curve, negative yield
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August 26, 2019
Tweet tumble, retaliation tumble, fourth fall, best gold, spread narrows, financials deteriorate
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August 19, 2019
Nerves break, curves invert, rates fall, re-election concerns, gold shines, unexpected turns, sector uptrends
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August 12, 2019
Currency wars, plunging markets, soaring gold, inverting curve, negative yields
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August 5, 2019
Cut party, cold water, volatility return, currency wars, negative yield, widened spreads, job anomalies
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July 29, 2019
Weakening economic environment, note-fund spread, central bank assets, market top, gold temporary top
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July 22, 2019
Highs reversed, more bull, gold phoenix, upside silver, confidence key, debt pile, adverse allies
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July 15, 2019
Spotlight feud, bank bleed, backdrop divergence, channel top, wide spread, gold rose, expect cut, oil tension
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July 8, 2019
Record highs, slowing economy, rosy jobs, golden breather, mixed indicators, higher yields, approaching top
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June 24, 2019
Dove week, trade threats, Gulf clouds, funds pull, what if, recession warning, gold risk, markets rise
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June 17, 2019
Cut speculation, slowing signs, rate cycle, broadening top, golden lead, lagging silver, oil attack, rate week
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June 10, 2019
Rate Frenzy, Slowdown Signs, Market Pattern, Gold Froth, Dollar Repeat
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June 3, 2019
Tariff targets, markets notice, retaliation assured, debt problem, golden jump, wildfire havoc
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May 27, 2019
Not final top, trade war spook, sliding economic numbers, falling bond yields, metals below breakout
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May 20, 2019
Trade dispute disrupts, whipsaw week, confident consumer, falling yuan, golden divergence
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May 13, 2019
Trade wars, good correction, still bull, expect retaliation, party continues, job creators, gold hot, stocks not
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May 6, 2019
Sell in May myth, not so rosy employment, widened Recession watch spread, Dollar-assisted golden fall
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April 29, 2019
Record close, chugging higher, no recession, positive indicators
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April 22, 2019
Lonely Highs, Poor Gold, Relentless Climb
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April 15, 2019
Collapsing Volatility
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April 8, 2019
Best April, warnings abound, Fed-Trump war, Bitcoin rise, curve inversion, gold bottom, unemployment gage
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April 1, 2019
Potential topping, cut calls, Canadian growth
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March 25, 2019
Surprise Dove, Positive Spread, Debt Gorge, Meandering Gold, Higher Dollar, Market Volatility
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March 18, 2019
Black swan sparks, no recession yet, OPEC vs NOPEC, dovish fed week, hearts out to New Zealand victims
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March 11, 2019
Canada Jobs sparkle, Trade Deficits Widen, Houses and Ships Signal Slowdown, Dollar Gains, Gold Corrects
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March 04, 2019
Riveting focus, spooked gold, dangerous long, humming weaknesses, Powell put, no recession, buyback view
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February 25, 2019
Common Interest and Credit Themes, 90 year cycle, Debt Trigger, Counterintuitive Run , Temporary Gold Top
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February 18, 2019
Blow-off Cusp, skeptical bears, excited bulls, runaway train, Dollar-helped gold, SNC scandal, gold demand
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February 11, 2019
Seasonal script, January barometer, background spark, commodity bull, junk sign, golden dig
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February 04, 2019
Fed blink, stock ignition, Nonfarm inflation, confidence slide, trade fade, debt fuel, commodity boom
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January 28, 2019
Shutdown shut down ex-wall, coup can spark oil, QT fade ignites gold, is too much bull too fast?
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January 21, 2019
Risk On without Time for Damaged Charts to Repair, No Recession Yet but Mixed Indicators
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January 14, 2019
Bear Rally, Bull Trap, Shutdown Bite, Absent Data, Housing Tip, Debt Mountain, Gold Haven, EEM Lead
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January 07, 2019
Stand Golden, Bulls Emboldened Bears, Rosy Jobs, Rattled Dove, Inching Spread, Wall Shutdown, Debt Spark
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December 31, 2018
Worst December … Ever, Plunge Protection Team, Paper Starting to Come Off, Rising Gold
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December 24, 2018
Dramatic Drop, the Grinch Stole Christmas
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December 17, 2018
Volatility, Huawei-based Threats, Yellow Vest Riots, No Deep End Yet, Bond and Gold Safe Haven, Oil Bounce
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December 10, 2018
Volatility, Huawei-based Threats, Yellow Vest Riots, No Deep End Yet, Bond and Gold Safe Haven, Oil Bounce
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December 03, 2018
Dovish Musing, Barely Begun Bear, Positive Seasonality, Payroll Watch, Fear and Greed Phases, Toppy USD
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November 26, 2018
Bared Bear Claws, Beware Claus Gift, No Recession Yet, Oil’s Slippery Slope, Cheap Gold Money
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November 19, 2018
Buffet Equalizers, Fading Long-term Bull, Thanksgiving and Santa Claus Rebound, Nascent Gold Bull
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November 12, 2018
As Déjà vu Rhymes and Unfolding Bear Twists and Turns, Seek Opportunity and Maybe Buy Well and Hold
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November 5, 2018
October bear, Booms, Busts with a debt heart, strong jobs defers recession, mid-terms portend market rally
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October 22, 2018
Bottom pickers’ paradise for stocks and gold possible in Mid-term elections
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October 15, 2018
October Bottom, or Bull End with Strong Gold, but No Recession Yet amidst Fed Attack and Bitcoin Precipice
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October 08, 2018
Music Still Plays with Division, Jumping Rates, Teetering Italy, Defiant Numbers and Rising Dollar and Gold
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October 01, 2018
Worried Markets climb as Fed and Italy benefit US Dollar and Iran drives oil prices
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September 24, 2018
Rear View Mirror, Potential Divergence, Fed and Recession Watch, USD but not metals may be Up in Smoke
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September 17, 2018
Sea of Debt Rises from Two Rubbles, Prepping for Precious Rally, and Wages, Spending, Growth Lag Debt
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September 10, 2018
US Dollar, Stocks, Rates Soar in Cruelest or Golden Month, Recession Risk Falls, Beware Amazon Waterfall
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August 27, 2018
Market convictions defy court convictions and risk financial accident but economy is fine and gold may shine
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August 20, 2018
US Dollar flight endangers Turkey and domino effects possible with precious metal fire sale, still stocks soar
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August 06, 2018
New Silk Road away from US, markets return to mean expected, no recession yet, and dull metals
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July 30, 2018
Friedman Fiat friendliness betrayed, blood moon crash connection, Facebook flop, potential peg but no recession yet
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July 23, 2018
Spectre of Fed coup is unlikely but dampens equities, currency and fuels commodities, long yields
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July 16, 2018
Continued Climb up the Wall of Worry
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July 09, 2018
Yawning may risk inhaling a bug but no Recession yet, oil is slippery, and gold stocks out-glitter gold
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June 25, 2018
Danger lurks, world economy cracks, money flies to bond safety and gold may turn yet no recession
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June 18, 2018
No Recession yet, Tariffs and Counter-Tariffs Portend Depressions or Wars and Gold still Glitters
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June 11, 2018
Volcano spews lava amongst allies under clear economic skies with patches of rising rates and gold
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June 04, 2018
Strong economy plays leading role while Italian debt, European banks and trade wars are background noise
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May 28, 2018
No imminent recession, Axis of gold, New Silk Road, and possibly resurrected killed summit
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May 21, 2018
Energy paints rosy TSX picture while storm clouds brew around US debt and gold still glitters
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May 14, 2018
Lagging energy stocks and continued market rally despite late cycle conditions, sanctions, shootings
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May 07, 2018
The sweetness of Energy and Apple
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April 30, 2018
Still a sleepy bear no match for the bull
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April 23, 2018
A Quieter Bull
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April 16, 2018
History in the Making but No Recession Yet
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April 09, 2018
Persistent Economic Strength Counters Trade War Fears
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April 02, 2018
Volatility and Debt Grow, but so does the Global Economy so no Recession yet
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March 26, 2018
Continued Fireworks despite a positive Recession Watch Spread
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March 19, 2018
Low Unemployment, Good Economy, Positive Consumer and Gold maybe poised to rise
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March 12, 2018
Another wild week with high jobs numbers suggests new highs may be ahead
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March 5, 2018
Executive Summary
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February 26, 2018
Bullish signs continue
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February 19, 2018
Mini Rogue Wave signals blue skies ahead, with banks thriving as interest rates rise on the horizon
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February 12, 2018
Wild Market Presents Buying Opportunity
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February 5, 2018
“War is Hell—but not for the Stock Market” —Mark Hulbert, Barron’s, April 20, 2017-Executive Summary
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January 29, 2018
Quotes by Warren Buffet, Principles from the Sage of Omaha and Edwin LeFevre, Reminiscences of a Stock Operator
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January 22, 2018
Quote by Chuck Palahniuk – Author – Survivor, Fight Club
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January 15, 2018
This Time is Different – Eight Centuries of Financial Folly – Carmen M. Reinhart & Kenneth S. Rogoff
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January 8, 2018
“I would say Happy New Year but it’s not happy; it’s exactly the same as last year except colder.” – Robert Clark
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White Papers
Online White Paper
“Explaining the Differences Among Financial Service Providers”
Explaining the Differences Among Financial Service Providers
A couple of decades ago there were four separate pillars of the financial industry – banking, trusts, Insurance and securities. Then the barriers came down. Long memories remember consumer finance companies objecting to banks being allowed to make consumer loans or mortgage lenders objecting to banks providing residential mortgages. Since banks were permitted into the securities business in 1987, mutual funds and discount brokerages have become commonplace. Today’s technology has spawned “robo advisors”, yet another choice for DYI investors. Services available among the participants overlap and are redundant. Even the words banks, trusts, insurance and securities have become close to meaningless to describe what a company does. The result of this homogenization is that most laymen cannot tell the difference among financial service providers. The result is that investors are not properly served, miss opportunities to succeed and take on unnecessary risk.
Insurance Companies
Beyond insurance contracts which are meant to cover off risks of various kinds, insurance companies also offer investment products which are sometimes included in whole life policies. These products are essentially mutual funds; called “segregated funds” when they are sold by an insurance company. They have various ‘bells & whistles’ attached to them, are expensive to own and the benefits can easily be duplicated at less cost by an experienced Portfolio Manager.
Banks
Banks are deposit taking and lending institutions and mortgage originators which have entered the investment business by purchasing pure investment firms. Most of the large investment firms are now owned by the large Canadian banks. In addition, most front line bank employees are required to take a short course on the sale of their own bank owned mutual funds.
Mutual Fund Dealers
These funds are sold by dealers who earn commissions on their sales and are regulated by the Mutual Fund Dealers Association. They are most suitable for smaller accounts not yet large enough for proper diversification. Many investors pool their money with others and share in a professionally managed large portfolio of securities. Mutual funds are sold under a prospectus which describes the fund’s objectives and the fees and expenses to be paid by the fund holders. This is referred to as the management expense ratio which usually runs between 1¾ and 3%. The fee is deducted from the fund holder’s account before any returns are distributed and is not tax-deductible.
Financial Planners
This is a broadly used term by many financial services professionals and can be used without any genuine designations or verifiable training. There are only two registered and governed financial planner titles in Canada and they are the “Professional Financial Planner” (PFP) and the “Certified Financial Planner” CFP). There are three ways planners can be compensated for their services. 1. Fee for Service. 2. Fee for Service plus commission. A fee for the development of the plan plus a commission if the client buys the products suggested by the planner. 3. Commission Only. The planner will be compensated by commission generated from the purchase of products to fulfil the objectives of the plan.
Brokers, Investment Dealers and Securities Dealers
Investment Advisors,(IA) previously called Stockbrokers, trade in securities as agent or principal and earn transaction commissions. Some IA’s are moving toward a fee structure model to minimize conflicts of interest.
Trades cannot be done without the client’s prior approval.
Portfolio Managers & Investment Counsel
Portfolio Managers are registered and governed by the Ontario Securities Commission and must meet the highest conditions of registration in the industry. These firms manage money not only for high net worth individuals but also for corporations, pensions funds, charitable foundations, trusts and endowment funds. Fees are based on a small percentage of the assets under management, normally about ½ to 1.5%, are shown clearly on client statements and are a tax deductible expense for non-registered accounts. Most managers working in these firms hold the Chartered Financial Analyst (CFA) designation requiring the highest rigorous educational and ethical standards. Portfolio Managers also have a fiduciary duty to act in the client’s best interest, not just recommending ‘appropriate’ actions.
Fees
What does it cost to hire Enriched Investing to manage your money? Portfolio Managers charge a fee based on the dollar value of the assets that are managed for you and the Custodian where your assets are held normally charges a small commission for purchases and sales in your account. We do not charge anything extra. For example, if you have an investment account, an RRSP and a TFSA with us, your fee would be based the total value of those accounts. Our fees generally start at 1.5% annually and are smaller for larger account sizes. The normal minimum needed to hire us is $200,000 in assets which would be the total of all the account types opened. There are always exceptions of course and the minimum for the Canadian Dividend Strategy is currently only $100,000. Compensation for non-registered accounts managed by a Portfolio Manager has historically been treated by the CRA as a tax deductible investment expense. Our compensation is structured so that we do better only when you do better and the fees are transparent and are reported on every monthly statement.
Know What You Own
Where is your money, really? We make it easy for you to follow exactly what positions you own in your portfolio. You can see online what you own including any changes right up until the close of business the day before.
You are assured that you will never be responsible for any embedded tax liability that could happen to you with mutual funds. Mutual Funds must pay out all capital gains and income each year. If a fund had capital gains all year through November, an investor buying units of the fund in December would not realize any benefits from those gains but would inherit the tax liability because the gains are embedded in the fund.
Learn About Who Actually Directs the Destination of Your Funds
With our White Paper titled “How Well Do You Know Your Advisor?” you will discover how to research the background of the person responsible for choosing the investments for your various accounts. You will learn which regulatory body your advisor’s company reports to and whether your advisor has ever run afoul of the law. How do this person’s qualifications stack up against the most stringent in the industry? Does your advisor have a Fiduciary Responsibility to you? How important is that? To receive your “How Well Do You Know Your Advisor?” White Paper by Special Request, please fill out the accompanying form on the Library Page.
White Paper by Special Request
Please submit the following contact information to receive your White Paper via email delivery.
Recommended Links
• Portfolio Management Association of Canada •
• Investopedia •
• Financial Services Commission of Ontario (FSCO) •
• TMX Capital Markets •
• Bank of Canada •
• Ontario Securities Commission •
• Federal Reserve Board •
• International Monetary Fund (IMF) •
• Tech Talk / Timing The Market •
Our Professional Alliances
Our Current Custodians:
NBIN
Committed to independent firms for more than 25 years, National Bank Independent Network is one of Canada’s leading providers of custodial, trading, clearing, settlement and record keeping services to independent registered portfolio managers, introducing brokers and investment fund managers. National Bank Independent Network proudly serves over 400 firms from coast to coast and is backed by the strength of National Bank of Canada (NBC). National Bank Independent Network is a division of National Bank Financial Inc. (NBF Inc.), which is an indirect, wholly owned subsidiary of NBC, a public company listed on Canadian stock exchanges (TSX: NA). National Bank Independent Network is also a registered trademark of NBC used under license by NBF Inc. NBF Inc. is a member of the Canadian Investor Protection Fund (CIPF) as well as the Investment Industry Regulatory Organization of Canada (IIROC), which is the national self-regulatory organization that oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
B2B Bank Securities Services Incorporated
Enriched Investing Incorporated Clients enjoy the security of having their accounts held in their own name at B2B Bank Securities Services Incorporated – a member of the Canadian Investor Protection Fund (CIPF).
Portfolio Management Consulting:
ETF Capital Management
Larry M. Berman is a Co-Founder of ETF Capital Management. Mr. Berman is contracted to assist Margaret Samuel with portfolio management duties as requested, and sits on the Enriched Investing Incorporated Investment Committee.
Larry brings nearly twenty years of industry experience to the role of Chief Investment Officer of ETF Capital Management and has been consistently ranked as one of Canada’s “Top 3 Analysts” according to institutional investor surveys.
Larry began his career as a Toronto based Investment Advisor in 1989 and completed a technical internship in New York with the Market Technicians Association (MTA) in 1994, where he studied the techniques of many top Wall Street technicians. Prior to founding ETFCM he was Chief Technical Strategist and Managing Director for CIBC World Markets since 1997. Larry was a senior technical analyst for Thomson IFR in Boston and senior technical analyst and trader for Marleau Lemire Futures in Toronto.
Larry is the primary author of the textbook for the technical analysis course offered by the Canadian Securities Institute (CSI), which is the primary source of education for technical analysis in Canada. Larry is past President of the Canadian Society of Technical Analysts (CSTA), past Vice-Chairman (Americas) of the International Federation of Technical Analysts (IFTA), and is currently the President of the Market Technicians Association (MTA). Larry’s opinions frequently appear in the media, and he is featured weekly on BNN’s (formerly ROBTV) Berman’s Call.
Larry is a Chartered Market Technician (CMT), a Chartered Financial Analyst (CFA), and is a US registered Commodity Trading Advisor (CTA). Larry graduated from York University with a BA in Economics.
Legal Counsel:
Gardiner Roberts LLP
Administration:
SGGG Fund Services Inc.
George Brown College
With a collection of 135 full-time certificate, diploma, degree and post-graduate programs, George Brown College is committed to giving students an education that teaches them the real-world skills that employers are looking for. Enriched Investing Incorporated is excited to be working with George Brown College to provide qualified business and accounting students with experience in portfolio management operations
Frequently Asked Questions
We purchase individual bonds for our clients as opposed to units in a bond fund. Bond funds lack a fixed maturity date and the purchaser owns units in the fund, not the bonds. The value of the units is based on the cumulative market value of all the bonds in the fund on any given day. Bonds on the other hand have a set maturity date and fixed interest payments which makes the return on each bond certain as long as it is held to maturity.
Value Stocks are common stocks currently undervalued and ignored by the market but are believed to have great potential to expand in value in the future. Growth Stocks are common stocks that are thought to have excellent prospects for above average future growth.
The utmost of principle protection, growing income, capital gain potential and marketability cannot be found in one security. Yield tends to be lower when the need for safety and security are high. Investors who seek safety and reliable income will bid up the price of the security and the yield will fall. Similarly, if a company shows high growth prospects, eager buyers seeking capital gains can create a demand that may push up the price to an unstable level.
Safety of principle is a major tenet for us. We combine the disciplines of fundamental, quantitative, and technical analysis allowing us to look at a company in several different ways. We believe this is a more robust approach then using only one or two analytical frameworks.
Investment counsellors, also known as portfolio managers, charge a fee based on a percentage of the assets under management, with larger accounts typically qualifying for lower fees. As a general rule, those who manage the assets in these firms undergo rigorous educational training and uphold the highest ethical standards. Portfolio Managers must, by law, act with a fiduciary duty to act in the best interest of the client as do those who have achieved the coveted Chartered Financial Analyst (CFA) designation. An Investment counsellor creates and manages a fully segregated and personalized account on the client’s behalf with the asset mix tailored to the client’s financial goals, risk tolerance, income needs, tax or estate issues etc.
Enriched Investing Incorporated manages institutional and private client investment portfolios. We have no commissioned sales people, we do not sell products and are not associated with any other financial firm. We are owned and managed by our major shareholders and earn our fee strictly on the value of the assets under our management.
We do not take possession of clients’ cash or securities. Your assets are held by a custodian, usually a bank or trust company.
Managers possess the CFA or CIM designations and must be registered as an Investment Counsel or Portfolio Manager. CFA stands for Chartered Financial Analyst. This designation is given to those individuals who have passed three annual examinations conducted by the CFA Institute and have practical experience in economic analysis, investment analysis and portfolio management.
CFA stands for Chartered Financial Analyst. This designation is given to those individuals who have passed three annual examinations conducted by the CFA Institute, and have practical experience in economic analysis, investment analysis and portfolio management.
Enriched Investing Incorporated invests your money and makes changes to the individual securities in your account. We do not have authority to withdraw money or securities from your account.
The custodian will send you a monthly statement detailing your portfolio holdings and account activity and you receive notices of all transactions as they occur. In addition, our clients enjoy the ability to see their accounts on line with activity up to the previous day available.