Ideas for the Management of a Portfolio Come From Many Places
We have been reviewing our client's accounts for the five months ended May 30th, 2008. We have been surprised, pleasantly surprised, that most clients have had a good five months despite the very gloomy news coming from the financial press. We, in the Nick Glen Group, constantly debate about whether we should be buying, selling or holding particular stocks.
This morning, BMO Nesbitt Burns published a list of Actionable Ideas which we are posting on this website. Our clients will know that the ideas listed in this document are not meant to be a list of things to do. Instead, we review client accounts constantly and regularly to ensure that each portfolio is suitable for the client who owns the portfolio. But the article we are posting may cause clients to wonder about their own accounts -- if it does, we welcome your questions.
It is, after all, your money.
Nick Glen June 10, 2008
A Flat First Quarter in 2008 -- It Doesn't Feel Too Bad
Over the next month, Tony Hume, Scott Mosher and I will be attending investment conferences. I plan to write a newsletter in May, which will be sent to our clients.
I spent some time over the weekend looking at client accounts and am very pleased to note that most of our clients' portfolios are, so far this year, flat to up. Some of the clients who have called us (because they have been made nervous by all the media coverage of the stock market declines) have been surprised to find that their capital is essentially intact. It is very gratifying to have come through such a tumultuous first quarter quite well.
Our clients know that our newsletters are not posted on the website until they are somewhat out of date. The newsletter is for clients, while this website can be read by anybody. It is time, however, to post the January 2008 newsletter on the website and you can now find it here.
We are very optimistic about the outlook for the stock market in the next couple of years. This is not a time to be sitting in cash and waiting for the bell to ring that signals it is time to invest. Rather, it is a time to make sure your portfolio is properly balanced and well-positioned to take advantage of the equity markets.
We have lots of ideas -- new ideas, and refinements on old ideas. A number of the investment opportunities we see are timely. Call us.
As you read it there are a couple of points that I agree with:
1. The risk of holding U.S. dollars is diminishing. There are some very smart commentators who have stated that the investment "surprise" for 2008 may well be the recovery of the U.S. dollar against the yen, the Euro and, to a lesser extent, the Canadian dollar.
2. Clients should be building their exposure to Agriculture. My recent newsletter highlighted many investment ideas in this sector and, as we do our client reviews, you can expect us to make specific recommendations in this area.
Finally, I would note that the market declines, while painful, are presenting investors with a number of attractive options. Call us if you have questions in this regard.
Nick Glen January 23, 2008
All market data is delayed by at least 20 minutes unless otherwise noted. Quotes, historical data, charts and statistics are provided by SunGard PowerData. BMO Nesbitt Burns is not responsible for the information provided.
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