Dear Valued Client,
The U.S. equity markets saw a great deal of rotational activity in September which resulted in some indices setting new highs while others languished, including the Canadian market, which generally drifted lower with the uncertainty over NAFTA. Although the U.S. market seems to have shrugged off the trade issues, there is no sign of conviction in the breakout to new highs. All this leads us to conclude it would be prudent to turn cautious in our outlook.
As such, we re-positioned our Growth and Balanced portfolios to be slightly more defensive. Our thesis right now is still bullish in the long term but an intermediate top could be forming. We will be even more defensive if the markets start to deteriorate. If the markets break out higher convincingly we are still well-positioned to reap the rewards.
As always, if you have any questions or wish to discuss whether any of the mentioned investments are suitable for you, please do not hesitate to call us at 604-658-3043 or email.
Best Regards,
Ron Aloni / Alan Goh / Jason Chen
This commentary is intended for information purposes only and does not constitute an offer to buy or sell our products or services nor is it intended as investment and/or financial advice on any subject matter and is provided for your information only. Every effort has been made to ensure the accuracy of its contents. The views contained herein do not necessarily constitute the views of Leede Jones Gable Inc. Leede Jones Gable Inc. is licensed as an investment dealer in every Canadian Province and Territory and is a member of the IIROC and the Canadian Investor Protection Fund.
