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Fw: An update on our funds

Fwd: Shaw / SFU / Email Alias, 

Jason_Wang_Burnaby@yahoo.com

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On Friday, June 26, 2020, 05:05, Steadyhand Blog <info@steadyhand.com> wrote:

View this email in your browser An update on our funds by Salman Ahmed In March, I wrote that we were experiencing the most dramatic fall in stock prices in many years. This was swiftly followed by one of the fastest rebounds on record. Our managers have responded by adjusting their portfolios and we've done the same in the Founders Fund. In the Founders Fund, we've rebalanced our weight in stocks to get closer to our long-term target – 60%. Our stock weighting drifted up to 67% as a result of purchases made during the market tumult and the subsequent recovery. Since mid-March, we've experienced the fastest market rebound in the last 50 years. But that bounce back has been uneven. Technology, pharmaceuticals, and precious metals companies have left economically sensitive industries in the dust. For context, the U.S. market is now back in the black (in Canadian dollar terms) for 2020 as technology accounts for more than a quarter of the S&P 500 Index. It won't be a surprise to long-standing clients that the underappreciated areas have accounted for most of the recent additions in our funds. The Steadyhand Equity Fund purchased heavy equipment supplier Toromont and convenience store owner Couche-Tard. The Global Equity Fund bought aerospace equipment manufacturers Safran and Howmet. The Small-Cap Equity Fund repurchased engineering firm SNC-Lavalin and hydrovac firm Badger Daylighting, while the Global Small-Cap Equity Fund added to staffing agency en-Japan. Our Income Fund has also made changes. Despite equity markets rising, safety is as expensive as it has ever been. For example, 10-year Government of Canada (GOC) bonds yield just 0.5%. The manager, Connor, Clark & Lunn, has shifted its GOC holdings to provincial and corporate bonds. Though they provide less protection if the stock market goes through another bout of turbulence, they are expected to do better as yields rise from these historic lows. In the Founders Fund, we're currently holding 25% in bonds – which is 10% less than our target. Instead of a full bond weighting, we're holding 12% cash to balance out the economically-sensitive nature of our bonds and stocks. Cash also provides ballast if market volatility returns. It's impossible to know if the market rebound will continue or if stocks are poised for another dip. Rather than spend time on the unpredictable, we recommend investors rebalance to their target mix of stocks and bonds. If you own the Founders Fund or the Builders Fund, we're already doing this for you. We also suggest our retired clients use the recent market lift as an opportunity to top up their cash reserves if they use one. If you're not sure what a reserve is, book an appointment with one of our specialists to discuss if it makes sense for you. Read in browser » Recent Articles: Investment tips for millennials The first 100 days Why is the market surging in the face of so much uncertainty? For private assets, the pandemic repricing is just getting started Summer reading Copyright © 2020 Steadyhand Investment Management Ltd., All rights reserved. You are receiving this email because you opted in at steadyhand.com. Our mailing address is: Steadyhand Investment Management Ltd. 1747 W 3rd Ave, Vancouver, BC, Canada Vancouver, BC V6J 1K7 Canada Add us to your address book unsubscribe from this list    update subscription preferences

Fw: Investment tips for millennials

Fwd: Shaw / SFU / Email Alias, 

Jason_Wang_Burnaby@yahoo.com

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On Tuesday, June 23, 2020, 05:08, Steadyhand Blog <info@steadyhand.com> wrote:

View this email in your browser Investment tips for millennials This article was first published in the National Post on June 20, 2020. It is being republished with permission. by Tom Bradley I turned 65 this spring and for some strange reason, now find myself prone to pontificating. That includes pouring my hard-earned wisdom onto young business partners and unsuspecting nephews. It's hard to resist because today's youth are taking an unprecedented interest in investing. It's been a unique aspect of the COVID-19 cycle. Discount trading platforms are seeing a surge in account openings while trading in low-priced stocks has exploded. Last week, I overheard a young guy tell his friend that he was spending a lot of time on investing. "I've focused in on the Nasdaq," he said. My nephew, who's never been particularly interested in investing, asked me whether it was time to buy Air Canada. This is exciting for me because I've preached for years (even before reaching the appropriate age) that young investors should be bouncing off the ceiling when stocks are down. Bear markets are a gift for those who are accumulating assets and have a long runway ahead. I wrote a column last summer on how to get started, although it seems mundane in the context of today's high velocity market. Indeed, it's inspired me to write chapter two — some tips for new investors who are now up and running. In the short term, it's a casino Don't read too much into day-to-day price changes. The market is a complex organism that's influenced by a variety of factors and interconnections. Short-term moves are more often random than linked to specific announcements or news items. By the same token, don't be too quick to claim brilliance if a stock goes up after you bought it. Your thesis may have been correct but getting the timing right was blind luck. Intellectual integrity Indeed, if you're taking credit for a profitable trade, then also own the blow ups. Don't inherit a trait from your parents' generation — i.e. congratulating yourself on a great call when a stock goes up, but blaming the market when it slides. Make sure you're honest with yourself. Reading it on Twitter or Reddit doesn't constitute an edge We all like to think we have the inside track. A hot deal on a paddleboard or a scoop on a friend's engagement. As an investor, however, assume that anything you get from a news feed is broadly known. If your view of a company or situation came from something you read on your phone, then it's not unique. The long game There is one area, however, where you do have a structural edge. You have a longer timeframe and can be more patient than your grandfathers' pension plan, your mother's advisor, or a Wall Street hedge fund. If you find an asset that's extremely undervalued, you can wait for it to play out. Warren Buffet once said: "The stock market is a device for transferring money from the impatient to the patient." Write it down It's a good discipline to write down three reasons why you own a stock. This is useful because if things don't work out, you need to know whether your thesis was wrong, or you just overpaid. Understanding the difference will help you decide whether you should sell or buy more. Pre-mortem You should also jot down a list of factors that may cause the stock to go down. It's valuable to understand why someone is selling you the stock. For every optimistic buyer, there's a seller who either sees a pothole ahead or is rejoicing at how much someone is willing to pay for the stock. Pay attention to gravity Howard Marks of Oaktree Capital Management (another old guy) said: "No asset can be considered a good idea (or a bad idea) without reference to its price." In the near term, a company's valuation has little predictive value, but over longer periods, it's the closest thing investors have to gravity. Buying at or below a fair price will produce attractive returns. Paying too much will lead to poorer results. Eyes wide open It's a great time to learn about investing. The past three months have been equivalent to a two-year MBA. The COVID-19 crisis is a unique moment in time, but the markets are doing what they always do. They are illogical, unpredictable and prone to exaggeration. That's what makes investing so interesting and rewarding for those who are disciplined and patient. Read in browser » Recent Articles: The first 100 days Why is the market surging in the face of so much uncertainty? For private assets, the pandemic repricing is just getting started Summer reading Growth stocks are having a moment, but here's why you shouldn't forget value plays Copyright © 2020 Steadyhand Investment Management Ltd., All rights reserved. You are receiving this email because you opted in at steadyhand.com. Our mailing address is: Steadyhand Investment Management Ltd. 1747 W 3rd Ave, Vancouver, BC, Canada Vancouver, BC V6J 1K7 Canada Add us to your address book unsubscribe from this list    update subscription preferences

Fw: Take the NIGHT EXPRESS to Dreamland!

Fwd: Shaw / SFU / Email Alias, 

Jason_Wang_Burnaby@yahoo.com

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On Sunday, June 21, 2020, 00:27, TAIGA WORKS <madeincanada@taigaworks.ca> wrote:

Superior Products. Low Mfr-Prices. Canadian-made.

ISSUE 9    •    21 June 2020 The all-new 'Night Express'  Down Sleeping Bag from Taiga Works®  masterfully combines the light weight, low bulk  & Warmth Efficiency of the 'Mummy' design, with the Venting Versatility  of a full-zippered bag. That's right!   Now you can have BOTH… Amazing, lightweight warmth that's easily adjustable with a zipper across the foot end, and along the side – a highly effective solution that eliminates the discomfort you encounter with a regular mummy bag when the temperature turns balmier than expected. Taiga® 'Night Express' Down Sleeping Bag Modified Mummy Shape… Lightweight, warmth-efficient & comfortable.  850+ fillpower 'Ultimate' European Goosedown.  RDS-certified. Waterproof, highly breathable Dryshell® outer fabric. Ingenious 'Yoke' Draft Collar. Comfy Face Draft Tube. Sideblock Baffle feature. 'Instant Exit' advantage. Full-length 2-way zipper, provides ample ventilation at foot & side. Bag opens up into a quilt. Expertly designed & crafted in CANADA. Available in 3 Versions:   MZ-20,  MZ-30,  MZ40    Comfort Ratings:  -7°C, -13°C, -20°C.    Weight Range: 1.98 to 2.91 lbs.          Price Range:   $379.00 - $489.00  (~US  $279-$360) For more details click HERE. Taiga® Down Sleeping Bags… Superior Products!   Low Manufacturer-Direct prices!  (Comparable competitors' bags with fewer features may cost TWICE as much.) See all TAIGA® Sleeping Bags HERE.  Taiga®  DryShell® Zip Pants 'Pro' Assuming you already own one of Taiga's terrific DryShell® All-Weather Jackets, these new pants are the perfect complement. Getting caught in a downpour while hiking in the mountains?  Or joining the lineup in the rain outside of a bank branch?  These full-zippered DryShell® Rain Pants are quick and easy to put on, and will save your day!    Easy to put on / take off. Impeccably-made and durable. Extremely reasonably priced. Waterproof/breathable 3-layer DryShell® Pro. Fully seamsealed. 2-way separating zipper. Security snaps at waist. Elasticized waist & drawstring. Expertly designed & crafted in CANADA. Sizes: S-L.   3-4 inseams in every size! Available: 26 June          $89.95  (~US  $66) For more details click HERE. See all TAIGA® Shell Garments HERE.  Ready for ADVENTURE? Frame/Inflatable Folding Kayaks are IDEAL water craft.  Stowed in the truck of your car, they are at your service anytime you encounter an enticing river, lake or stretch of ocean shore. Advanced Elements® 'Sport' Our most popular kayak – with good reason…  For a full-sized kayak (10.5 ft. x 32"), it's lightweight (26 lbs.) – yet tough & durable.  It assembles in minutes, tracks well, and is easy to paddle & maneuver – rivaling the performance of a hard-shell kayak. And it's very affordable!    $498.00 For technical details click HERE.  See all Inflatable Kayaks HERE.  Taiga® Downlite Jacket When the sun is down, and it gets chilly in the mountains (even in summer! ) – the Downlite comes to the rescue, keeping you warm & comfy. This ultralight jacket compacts into a tiny bundle – ideal for packing, yet provides instant warmth on cold evenings. Waterproof/breathable DryShell® outer fabric. 850+ FP 'Ultimate' European Goosedown.  RDS-certified. 3 zippered pockets. 350 g total weight (size M). See our next Newsletter for more info.  (Full details will be on our website in 1-2 weeks). Our Broadway store is closed, but here are 2 easy alternatives: Mail Order  Our Mail-Order dept. is fully operational.  We ship to almost anywhere – even to Vancouver.  Place your order online (at TaigaWorks.com) or by phone, and receive it within a few days by Expedited Mail. Factory Pick-Up  For customers in the Vancouver area…   Place an order by phone or online, and then collect it at the Pick-Up Counter at our factory.  Or place an order at the counter, and get it filled while you wait.   3454 Bridgeway St., Vancouver (near 2nd Narrows & PNE) Mon.– Fri. 10:00 am – 5:30 pm 604-875-6644, 875-6647, 875-8388 or toll free 1-866-777-8111   Click here for detailed map info. EXCELLENCE IN OUTDOOR GEAR Manufacturer-Direct • Made in Canada --- WE SHIP WORLDWIDE --- SALES:  For general Product Info, help with Size & Colour selection, or for placing an order, call…. Local:  604-875-6644, or 604-875-6647. Canada & USA (toll-free): 1-866-777-8111. International:  +1-604-875-6644,  or  +1-604-875-6647.                   Tech/Admin:  For technical questions or comments about Taiga®  products, contact: TechAdmin@TaigaWorks.ca     Allow a few days for a brief response from our busy staff. unsubscribe from this list    update subscription preferences  You are receiving our newsletter since you previously expressed interest in Taiga products.