For example, assume you own 100 units in a fund that is valued at $10.00/unit (your investment is worth $1,000). If the fund pays a distribution of $0.10/unit, its price will drop to $9.90 following the distribution. However, if you follow the common practice of re-investing your distributions, you will receive an additional 1.01 units in the fund ($10.00/$9.90), so the value of your investment remains unchanged (101.01 units x $9.90/unit = $1,000).
The estimated distributions for our funds (to be declared on December 16th) are as follows:
Income Fund: $0.15/unit (bringing the year-to-date total to $0.30/unit)
Founders Fund: $0.13/unit (bringing the year-to-date total to $0.27/unit)
Equity Fund: $0.75/unit
Global Equity Fund: $0.00/unit
Small-Cap Equity Fund: $1.20/unit
Global Small-Cap Equity Fund: $0.01/unit
Builders Fund: $0.22/unit
Year-end distributions
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Year-end distributions
The year-end distributions for all our funds (with the exception of the Savings Fund) will be declared on Friday, December 16th and paid on Monday, December 19th. The Savings Fund will pay its regularly scheduled monthly distribution on Friday, December 30th.
In this post, we provide a refresher on distributions along with the estimated figures for our funds.
Read more
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Thursday, December 1, 2022
Fw: Steadyhand Monthly Newsletter — December 2022
December 2022
Monthly Newsletter
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If you wait for certainty ...
"If you wait for certainty you'll miss the market." These words of wisdom from Bob Hager refer to the notion that by the time the concerns and risks of the day are resolved, stock prices will already be significantly higher. We explain.
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'Tis the season
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Latest news & views
Year-end fund distributions
All you need to know about distributions, and the estimated 2022 figures for our funds.
Savings Fund yield on the rise
Savers haven't had much to cheer about over the last decade. Well, no longer. Short-term interest rates have risen sharply this year, and the yield on our Savings Fund has followed suit.
Video: The future of global tech stocks
Salman Ahmed speaks with our Global Small-Cap Equity Fund manager about the global technology sector.
Things investors should focus on and things they can ignore
Tom Bradley offers a few ideas to help you manage your attention capacity when it comes to investing.
My 15 minutes of fame
Tom's speech from his recent induction into Canada's Investment Industry Hall of Fame.
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Monthly Newsletter
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Feature
If you wait for certainty ...
"If you wait for certainty you'll miss the market." These words of wisdom from Bob Hager refer to the notion that by the time the concerns and risks of the day are resolved, stock prices will already be significantly higher. We explain.
Inside Steadyhand
'Tis the season
Looking for the perfect present for the investor on your list? What better than the gift of financial success! Set them up to succeed with our suite of 8 online financial planning calculators. (Whisky is a practical choice in a year like 2022, too.)
Latest news & views
Year-end fund distributions
All you need to know about distributions, and the estimated 2022 figures for our funds.
Savings Fund yield on the rise
Savers haven't had much to cheer about over the last decade. Well, no longer. Short-term interest rates have risen sharply this year, and the yield on our Savings Fund has followed suit.
Video: The future of global tech stocks
Salman Ahmed speaks with our Global Small-Cap Equity Fund manager about the global technology sector.
Things investors should focus on and things they can ignore
Tom Bradley offers a few ideas to help you manage your attention capacity when it comes to investing.
My 15 minutes of fame
Tom's speech from his recent induction into Canada's Investment Industry Hall of Fame.
Funds
Company
Tools
Thinking
1747 West 3rd Avenue
Vancouver, BC V6J 1K7
1.888.888.3147
info@steadyhand.com
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Wednesday, October 19, 2022
Fw: The pandemic is finally hitting big tech — two years later
Begin forwarded message:
On Wednesday, October 19, 2022, 15:04, Yahoo Finance Tech <yahoo@newsletters.yahoo.net> wrote:
Web Version
Wednesday, Oct 19
The pandemic rubber band is hitting the tech industry.
Microsoft (MSFT) made headlines this week when reports emerged that it slashed nearly 1,000 jobs, making it the latest tech giant to respond to economic turmoil.
The company characterized its layoffs as "structural adjustments," stressing that it would keep hiring in "key growth areas." The cuts still might have surprised some observers. While Microsoft's stock is down 22% over the past 12 months, some competitors have fared worse. Amazon is down nearly 32%. Salesforce plummeted 47%, and Google is down 28%.
The recent bad news in the tech industry could be a delayed blow from the pandemic. Interest rate hikes, inflation hovering at 40-year highs, and sinking demand are hitting tech companies that have benefited from two years of pandemic-driven growth that saw valuations for some companies eclipse the $2 trillion mark.
"As we entered the pandemic, everybody was afraid that there were going to be these disastrous layoffs and it was going to be horrible. And there were, very briefly, in a few places…but that immediately turned around," TECHnalysis president and chief analyst Bob O'Donnell told Yahoo Finance.
"In a weird way, it almost feels like now we're getting some of the impact of the pandemic after the fact," he added. "I think people are recognizing they maybe overextended their hiring when they expected some of the growth that happened during the pandemic to continue in the tech industry."
Microsoft is laying off workers as it deals with falling PC sales. (AP Photo/Elaine Thompson, File)
Slowing sales, falling stock prices, and layoffs
While Microsoft is easily the largest tech company to lay off employees, it's far from the only one. Netflix (NFLX) cut off hundreds of employees as subscriber numbers faltered following the pandemic, and Snap eliminated 20% of its employees.
Meta, meanwhile, is slowly pushing workers out the door via department reorganizations. Google parent Alphabet (GOOG, GOOGL), for its part, shuttered projects at its Area 120 division and asked employees to reapply for jobs elsewhere.
Microsoft's downsizing efforts come as the PC market is experiencing its worst contraction in years. According to Gartner, PC shipments slipped 19.5% in Q3 2022. The reason for the decline? During the pandemic, consumers ran out to stores in search of PCs for everything from work to entertainment. As a result, shipments jumped 32% in Q1 2021 to 69.9 million units. Now that pandemic-powered expansion is rubberbanding back.
The drop in PC sales is hitting chip makers, too. Intel (INTC) is expected to lay off thousands of workers, with an announcement likely to take place sometime around its Oct. 27 earnings report. AMD (AMD), Nvidia (NVDA), and Micron (MU) have all been slammed by a decline in PC sales, too. Nvidia already froze hiring for the rest of its fiscal 2023.
But Microsoft doesn't just rely on PC sales. The company's cloud business has been a growth juggernaut for years. So why the layoffs? Falling share prices could be one reason.
"I think there's a sense of internal pressure to deliver better results for shareholders," O'Donnell said. "And that means increasing the profitability, even though they're already making a lot of money. And I think that's what part of the challenge that we're seeing now is that the market has reacted in such a way, And therefore there's more pressure to deliver better results. And the way you can do that is reduce your costs."
Other tech companies are looking for ways to cut costs without eliminating jobs. Apple (AAPL), for instance, is reducing the production of its iPhone 14 Plus, less than two weeks after the smartphone hit the market, according to The Information.
Amazon (AMZN), which overextended itself during the pandemic boom, is looking to cut back on the number of warehouses it owns. It has shut down a number of projects including its delivery robot and a product that lets children video chat with distant family members.
The downturn could be short-lived, at least for tech
On Tuesday, Amazon founder Jeff Bezos became the latest corporate titan to predict an economic downturn could come in the coming months. But according to BofA Global Research analyst Wamsi Mohan, such a decline could be short-lived if the Federal Reserve continues hiking rates.
"If we go into a protracted downturn where inflation is persistently out of control, and we go into an economic slowdown or recession, where both of those are paired together, absolutely, there will be rationalization of jobs," Mohan told Yahoo Finance.
"But if we're getting to the peak of rates somewhat quickly because the Fed is trying to do this in an accelerated way, we might end up in the first half of next year moving through most of the job cuts that are needed for companies to get back on the operating profit trajectory."
This week brought a sign that tech's downturn might be fleeting. On Tuesday, Netflix reported better-than-expected quarterly results, beating earnings and revenue expectations and adding 2.4 million subscribers, the first time it didn't lose subscribers this year.
Netflix was one of the first big tech companies to lose its pandemic sheen, with subscribers sinking after millions signed up while quarantined. Perhaps, after spending time re-connecting with loved ones, Americans are finally ready to get back to their couches — and back to enjoying all that Big Tech has to offer.
By Daniel Howley, tech editor at Yahoo Finance. Follow him @DanielHowley
Read the latest financial and business news from Yahoo Finance
Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard, and LinkedIn
More Tech News
Microsoft CEO: 'Software is ultimately the biggest deflationary force' for businesses
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Thursday, September 8, 2022
Fw: Apple's iPhone 14: Why some people shouldn't bother to upgrade now
Fwd:
Begin forwarded message:
On Wednesday, September 7, 2022, 15:41, Yahoo Finance Tech <yahoo@newsletters.yahoo.net> wrote:
Web Version
Wednesday, Sep 07
You don't need to upgrade if your iPhone isn't more than two years old
Apple's (AAPL) iPhone 14 and iPhone 14 Pro have arrived. The tech titan's most important products, the latest iPhones pack improved performance, longer battery life, cameras with better low-light performance, and new safety features.
The iPhone 14 and iPhone 14 Pro are solid evolutions of the iPhone formula, which helped make Apple one of the richest public companies on Earth by market cap at nearly $2.5 trillion. Does that mean you should crash through the front door of your local Apple Store and grab a new iPhone? Not necessarily.
"It's good to have all these features, but it's not enough to just kind of drop everything and go out and buy a new phone yet," Santosh Rao, Manhattan Venture Partners head of research, told Yahoo Finance.
That's especially true if you've got an iPhone 13 or iPhone 13 Pro, or even an iPhone 12 or iPhone 12 Pro. That's not to say Apple hasn't improved its smartphone. But when it comes to dropping major bucks on them? You can save your cash if you're still packing a fairly new phone.
Big changes for the Pros, but not enough if you've got a newer iPhone
The iPhone 14 Pro and iPhone 14 Pro Max are Apple's flagship devices. They pack the company's all-new A16 chip, 48-megapixel camera sensors, and an updated cutout for the front-facing cameras and Face ID sensors called the Dynamic Island.
But at $999 and $1,099 for the iPhone 14 Pro and iPhone 14 Pro Max, respectively, the Pros are pricey propositions for even the biggest Apple fanboys and gals.
That said, you should consider making the leap to a new phone if you're still using an iPhone 11 Pro or an iPhone XS. The power jump will improve your phone's performance while it's running newer apps and games, and the camera upgrades will help you shoot from a distance. Perhaps most crucially, you'll enjoy new safety features like crash detection and satellite communication.
It's an easy sell if you're an Apple fan, want the company's top-of-the-line offerings, and have an older phone. But if you've still got an iPhone 12 Pro or iPhone 13 Pro, the new phones are a tougher sell. You'll get always-on displays and improved camera capabilities out of the iPhone 14 Pro and iPhone 14 Pro Max, but it's a difficult call to know whether those changes are worth more the $1,000.
One major difference is a new "Dynamic Island" space at the top of the iPhone 14 Pro and iPhone 14 Pro Max that houses the True Depth camera and Face ID sensor. It's a functional area that can display music you're playing, timers, and even sports scores — great additions for sure, but not make-or-break propositions.
The iPhone 14 Pros also get better low-light capabilities thanks to the new 48-megapixel main camera sensors and Photonic Engine. Apple says the phones will get 2x better low-light performance from the main, telephoto, and True Depth cameras, and 3x better on the ultra-wide camera.
Again, these features are nice to have. But upgrading is not essential if you've got an iPhone 12 Pro or iPhone 13 Pro, and you have other items you need to spend money on, like video games or food.
IPhone 13 owners should hold off on the iPhone 14
Apple's iPhone 14 Pro and Pro Max took center stage at the company's Sept. 7 event. The standard iPhone 14 and iPhone 14 Plus, however, didn't get much in terms of Earth-shattering updates.
The new phones pack the same chip found in the iPhone 13 line, and offer slight improvements to overall battery life and performance. The new 12-megapixel cameras paired with Apple's Photonic Engine mean you'll get better low-light photo capabilities with 2x better overall low-light performance via the ultra-wide camera and front True Depth camera, and 2.5x better performance from the main camera.
Those who own the iPhone 12 may want to consider the iPhone 14 and iPhone 14 Plus because they will likely provide a speed boost, better longevity, and sharper cameras. Still, people who are perfectly satisfied with these elements of their phone might want to hold on to the iPhone 12 just a bit longer.
Who should upgrade
Apple's new iPhones are impressive pieces of technology, and absolutely worth upgrading to for certain consumers. If you've still got an iPhone 8 knocking around in your pocket or handbag, it's time to send that bad boy to the big tech graveyard in the sky and upgrade.
You're going to get far better performance, longer-lasting batteries, and wildly improved cameras. My mom is still holding on to her iPhone 8 Plus, and these new phones are calling her name.
Those who own the iPhone X and Xs should also ditch their ancient phones for the iPhone 14 or iPhone 14 Pro. They've outlived their usefulness. The same goes for the iPhone 11.
If you've got an iPhone 12, the decision is a bit harder. You're going to get big improvements in terms of camera quality and performance, but your phone likely still works well. If you're on the fence, it comes down to how badly you want to spend the cash.
What if you're the type of person who wants to see how long you can keep your iPhone before it dies? Go for it. There's no law against keeping an outdated smartphone.
For everyone else with an older model, the iPhone 14 and iPhone 14 Pro are worth a look.
By Daniel Howley, tech editor at Yahoo Finance. Follow him @DanielHowley
Read the latest financial and business news from Yahoo Finance
Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard, and LinkedIn
More Tech News
Apple debuts iPhone 14 for $799 and iPhone 14 Pro starting at $999
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