Karen Redman is happy that indicators in our waste water are such that we are at the peak of our current COVID outbreak and thinks it should start improving soon.
Ailton Santan is pleased that his 93 year old father-in-law was able to leave the isolation he has been in for the past ten days today and is no longer COVID positive. Ailton is also happy that an immigrant family he has been helping to find accommodation received the keys to their new home this past week.
Howard Pell was happy to have spent several hours outside in the cold this past weekend filming video on the plight of the homeless in our region (well not too happy about the cold but happy to be involved with the project and that all went well with the taping). The video should be available for release in mid-February.
Lumi Mironescui was delighted that her daughter won several medals in a recent dance completion in Toronto.
Louise Gardiner is happy to be trying something new and is taking Voice Over lessons.
Tasreen Charania is happy, that, although her mother is in isolation due to COVID, she is receiving excellent care and is doing well.
Catch The Ace
We are into Week # 9 of our second
Catch The Ace and still no sign of the Ace of Spades.
This may sound familiar, as James J. was the weekly winner for the second consecutive time when he picked card #24 and revealed the King of Diamonds and took home $257. He also won $254 the prior week and it goes to show that when play you have a chance to win.
When asked why he was playing Catch the Ace, James told us he saw the sign at KidsAbility and decided to do his part to support the great work they do.
The progressive jackpot is $9,999, thanks to the support of our prize sponsors, Freure Homes and Polocorp.
The deadline as always is Wednesday at Midnight.
Don't forget that you have to purchase a ticket the week of the draw to qualify for both the weekly and progressive jackpot!
When you play Catch the Ace not only do you have a chance to win but you also know that the net proceeds will all be going to
KidsAbility.
Coldest Night of the Year
Louise Gardiner let members know that plans for our support of the Coldest Night of the Year event are progressing well. The event will likely be virtual again this year and details will be distributed soon.
Our speakers today were Robin Stanton and Rick Vandermey from
Rae Lipskie Investment Council as part of our Post Pandemic Financial trends Speaker series. Robin and Rick were introduced by Paul Rostrup.
Robin Stanton, CFA
Vice-President & Portfolio Manager
Robin Stanton joined
The RaeLipskie Partnership in 2018. He has extensive experience working with institutional and individual investors to help them achieve their various investment objectives in the public and private markets.
In his prior role as Vice-President at CBRE Caledon Management, Robin worked with the firm’s clients to help them develop and implement their investment programs, while also focusing on marketing strategies to develop new business opportunities. Previously, Robin was Vice President of Investments at AGF Investments where he delivered investment solutions for existing and prospective clients and their advisors in select regions and constituencies in North America.
Robin graduated from the University of Toronto and is a CFA Charterholder. Robin is an active volunteer in our local community and serves as a member of the Investment/Pension Committees for the Kitchener-Waterloo Community Foundation, Wilfrid Laurier University and Grand River Hospital.
Robin is an avid cyclist and occasional skier and golfer and resides in Kitchener with his wife and daughter.
Contact:
Robin@RaeLipskie.com
519-578-6849 ext. 331
Rick Vandermey, CFA
Chief Investment Officer
Investment Counsellor/Portfolio Manager
Rick Vandermey joined the firm in 2014 after a multi-decade investment management career as Vice President-Portfolio Manager with Legg Mason Canada (and its predecessor companies, Perigee Investment Counsel and Mu-Cana Investment Counsel). Rick grew up and was educated in Kitchener-Waterloo and was based in the local community during his career in the institutional investment management business. During his time in that business, Rick had responsibility for managing some of the company’s largest pension, endowment and foundation client relationships, along with responsibility for Canadian, U.S. and international equity selection, balanced fund management and active asset allocation.
Rick graduated from Wilfrid Laurier University with an Honours Bachelor of Business Administration (BBA) degree and attained his Chartered Financial Analyst (CFA) designation in 1985. At The RaeLipskie Partnership, Rick leads the firm’s investment activities and manages client portfolios.
Rick and his wife Trish live in Waterloo. Their two adult children live in Toronto. Summer weekends are generally spent at Rick and Trish’s cottage on Lake Huron. Rick is an active volunteer in the community, giving his time to assist the KW Community Foundation, the KW United Way, Wilfrid Laurier University and the Lyle S. Hallman Foundation. A long-standing volunteer coach for Waterloo Minor Soccer, Rick is also active in the Waterloo Cycling Club.
Contact:
Rick@RaeLipskie.com
519-578-6849 ext. 326
Robin and Rick spoke to a number of graphs indicating current and possible future financial trends. Robin reviewed the situation with the stock market in the following areas.
Canadian and American Stock Market Cycle
- for three consecutive years we have seen positive returns
- Canadian growth in excesses of 25% in 2021
- American growth in excess of 29%
Capital Market Interest Rates
Market Evaluations
US Equities
Rick then spoke on the general economy in the following areas.
The Economy Overall
- despite significant issues and losses in the retail market, overall the economy is doing fairly well
Manufacturing PMI (Purchasing Managers Index)
Bank of Canada and Federal Reserve Policy Rates
Annual Inflation (CPI & US)
Real GDP Growth Outlook
Other Currencies
In Summary
- Macroeconomic Outlook: Despite the risks posed by the Omicron variant, global growth should remain above trend in 2022. Inflation will temporarily dip next year as goods prices come off the boil. However, the structural trend for inflation is to the upside, especially in the US.
- Equities: Remain overweight stocks in 2022, favoring cyclicals, small caps, value stocks, and non-US equities. Look to turn more defensive in mid-2023 in advance of a stagflationary recession in 2024 or 2025.
- Fixed income: Maintain below-average interest rate duration exposure. The US 10-year Treasury yield will rise to 2%-to-2.25% by the end of 2022.
- Credit: Corporate debt will outperform high-quality government bonds next year. Favor HY over IG. Spreads will widen again in 2023.
- Currencies: As a momentum currency, the US dollar could strengthen some more over the next month or two. Over a 12-month horizon, however, the trade-weighted dollar will weaken. The Canadian dollar will be the best performing G10 currency next year.
- Commodities: Oil prices will rise, with Brent crude averaging $80/bbl in 2022. Metals prices will remain resilient thanks to tight supply and Chinese stimulus. We prefer gold over cryptos.
