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no-cover
June 13, 2014
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Asymmetric Returns with a Directional Condor

Jason Ayres

The objective of any trader or investor is to achieve the greatest return for the least amount of risk. This is what you hear hedge fund and money managers referring to as “asymmetric returns”. One of the benefits of using options to participate in a directional view is the limited risk exposure of the purchased...

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no-cover
June 03, 2014
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Re-visitng Past Blogs

Richard Croft

In this Blog I occasionally follow up on previous recommendations. Taking some credit where due and blame when trades are not so successful. The idea is to engage in self-examination with the hope that it will make us better traders. I began 2014 with the Blog “New Year Optimism” where I talked about the possibility that...

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10 years ago
no-cover
May 30, 2014
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Insurance for your Insurance Stocks

Patrick Ceresna

For any keen market observer, it is hard to have missed the relative under-performance of the Canadian insurance stocks vs. the Canadian bank stocks. This divergence comes to a surprise to many investors that felt the stocks would rise together in the pronounced bull market. So what could be some of the underlying precipitating...

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10 years ago
no-cover
May 20, 2014
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Tim Hortons – Value or Growth?

Richard Croft

The Company is a Canadian icon. Like Canadian Tire, Hudson’s Bay and even the Timothy Eaton Company once Canada’s premier department store. Despite the familiarity of these brands in Canada there has been little evidence that Canadian brands carry any weight south of the 49th parallel. Canadian Tire being a case in point....

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10 years ago
no-cover
May 20, 2014
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European Central Bank QE and the U.S. Dollar

Jason Ayres

Last Thursday Mario Draghi confirmed the suspicions of many…that the European Central Bank was preparing a Quantitative Easing type policy package for its next meeting scheduled for June. Considerations will include cuts in interest rates and other measures with a focus on stimulating lending to small and medium size...

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10 years ago
no-cover
April 30, 2014
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Defining Risk in the Energy Stocks

Patrick Ceresna

The Canadian energy sector began 2014 with a bullish advance that has seen many of the stocks rise 20+%. Clearly there is a bullish buzz unlocking the low valuations we have seen on these stocks over the last few years. The big question…is this sustainable? The Bull Argument: 1. Attractive valuations 2. Attractive dividends...

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10 years ago
no-cover
April 28, 2014
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Sell in May? Or Hedge ’til Labor day!

Richard Croft

There is an old adage in the investment industry; “sell in May and go away ‘til labor day.” Not everyone agrees… Warren Buffett for example! Still, enough investors believe in the concept, and when you think about it there is rationale underpinning the theory. Summer holidays can limit liquidity and often there is...

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10 years ago
no-cover
April 17, 2014
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Understanding The VIXC

Jason Ayres

If you spend a little time surfing around the Montreal Exchange site you will eventually make your way to the MX Indices tab. At the top of the menu you will find a link to the VIXC, which is the S&P/TSX 60 VIX or volatility index. The VIXC reflects the 30 day implied volatility of S&P/TSX 60 front month and next month...

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