Market Minutes, June 2026
While geopolitical uncertainty continues in the Middle East and high energy prices have dampened the economic outlook, near-record earnings growth was May’s defining feature. Led by the technology sector, equities drew applause while bonds did the more honest accounting. In our view, bond markets are being more forthright about latent and emerging risks. Equities, by […]
Market Minutes, March 2026
The past few weeks have been particularly eventful, with many headlines seemingly at odds with one another. As investors are buffeted by crosswinds, some market segments have fared better than others. Global equities trended higher overall, yet the S&P 500 declined in February. The Canadian economy contracted by 0.6% in the most recent quarter, while […]
Market Minutes, February 2026
Markets have started the year on a high note, with both equities and credit securities delivering positive returns. Impressive fourth-quarter earnings, potentially lower interest rates in the United States, abundant liquidity, capital parked in money market funds—investors have focused their attention here, overlooking geopolitical flashpoints for the time being. The notably absent response highlights an […]
The Psychology of Money: From Biases to Better Decisions
Bellwether Investment Management recently featured Dr. Preet Banerjee, a neuroscientist-turned-financial expert, for an eye-opening client webinar on the psychology of money hosted by Bob Sewell, the firm’s founder and chairman. His central message? We’re fighting against millions of years of evolution when it comes to making smart financial decisions. The evolutionary trap Dr. Banerjee opened […]
Canada Federal Budget 2025 Economic & Market Analysis
“The global uncertainty we are facing demands bold action to secure Canada’s future. Budget 2025 is an investment budget.” — François-Philippe Champagne, Minister of Finance and National Revenue Quick Summary The Carney government has passed its first official budget under subpar conditions. Finding itself in the middle of a trade dispute hampering economic growth, the […]
Market Minutes, November 2025
Fuelled by interest rate reductions, a strong start to the third quarter earnings season, and sustained enthusiasm for AI-related investments, global markets trended positively throughout October. Naturally, these positive forces have been well-received. What was less expected was the muted reaction toward the longest U.S. government shutdown in history. Although the circumstances have made official […]
Market Minutes, December 2025
Compared to where they began the month, many global stock markets showed little change as November drew to a close. This perceived indifference has papered over pronounced day-to-day volatility, as equities fell in the first half only to regain lost ground in the second. The circumstances unveil investor priorities and serve as a sound lesson […]
Market Minutes, September 2025
September rewarded investors with another exceptional month of equity returns. Many of the world’s leading stock indices climbed by roughly 5% despite what is historically a weak month of the year—a sound reminder that seasonal patterns shouldn’t be the basis for investment decisions. North America’s two largest economies found relief through interest rate reductions, which […]
Gifting in Life: Inter Vivos Gifts in Canada
Understanding Income Splitting in Canada: Tax Saving Strategies
Estate Bond Strategy: Tax-Efficient Wealth Transfer in Canada
Originally posted on June 18, 2025. Updated on March 5, 2026. There’s a common misconception that estate planning is purely a future-focused exercise. In practice, the right approach can improve tax-efficiency today. The estate bond strategy can do exactly that—surplus capital moves into an exempt permanent life insurance policy, where it grows with less tax […]
Is a Balanced Mutual Fund Really Balanced?
Absolute Return vs. Relative Return: Key Differences
“The wise man is he who knows the relative value of things.“ – William J. Bernstein
How Dividend Growth Mitigates the Risks of Market Concentration
“Market risk is like taking a plunge into a cool pool… a lot of people are finding out right now what their risk tolerance is.” – William J. Bernstein
Investor Guide: What is tax-efficient investing?
“This is a question too difficult for a mathematician. It takes a philosopher.” – Albert A. Einstein
Budgeting Tips for 2023
“If we command our wealth, we shall be rich and free. If our wealth commands us, we shall be broke indeed.” – Edmund Burke