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Happy New Year!
We are very pleased to send you our monthly financial newsletter to keep you abreast of financial markets and world economy. We hope that you will enjoy reading these articles. As always, we welcome your comments and questions.
Sincerely,
Team Beauregard Farina Tourangeau
1250 boul. René-Lévesque West
Suite 1500
Montréal, QC
H3B 4W8
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Markets Returns
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Value as of
Dec. 31 2014*
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2014
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2013
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S&P / TSX
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14,632
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7.4 %
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9.6 %
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S&P 500
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2,059
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11,4 %
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29.6 %
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Euro Stoxx 50
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3,146
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1.2 %
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17.9 %
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MCSI emerging markets
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956
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-4.6 %
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-9.1 %
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Oil ($US/Barrel)
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$ 53.27
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-41.6 %
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5.8 %
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Gold ($US/oz)
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$ 1,184
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-1.9 %
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-28.8 %
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$CAD / $USD
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$ 0.86
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-8.5 %
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-7.2 %
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Source : Bloomberg, Richardson GMP Limited
*Values are in local currency
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Investment Strategies
Investment tips for 2015
The return of volatility, as valuations and investor complacency remain elevated, will make it vital for investors to consider hedging against downside risk and cut back on certain investments in the New Year. They must be cautious, as valuations in most markets are rich, and faith in monetary policy underpinning asset prices is high. It's key for investors to develop a plan to prepare for a return to a more normal volatility regime.
Equity and fixed income markets could fall in tandem, challenging traditional diversification. Relative value strategies and alternative investments can help.
Read more
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Tax & Estate Planning Strategies
REMINDER: 2014 Year-End tax planning checklist
Financial planning is time sensitive. While the following list is not exhaustive, here are some items that must be considered, incurred or paid in order to be included in your 2014 tax return.
Read more
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In the news
Falling oil price?
A new bank forecast argues the financial blows of low oil prices on the Canadian economy could be more than cancelled out by the weaker loonie and additional consumer spending on both sides of the Canada-U.S. border. The bank analysis pointed to a combined effect of three "offsetting positive outcomes" from low-priced crude: a boost for the U.S. economy; the lower Canadian dollar's benefit to exporters selling to the stronger U.S. market, and more spending by Canadians thanks to cheaper fuel.
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Volatility for 2015...
Plunging oil prices, temperamental Russia and less accommodative U.S. monetary conditions will drive volatility into the New Year. "Indeed, since the summer, equity market gains have been accompanied by greater gyrations. Looking forward to 2015, investors should be focusing on assets where value offers some downside protection. U.S. economy momentum should help company earnings growth and thus allow stocks to move higher next year.
Read more
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Wary optimism for next year
Wary optimism, not great expectations, pinpoints the outlook for stocks in 2015. Next year, the third in the U.S. Presidential Election-Year Cycle and historically a strong one for stocks, is pegged as a continuation of the long bull market, though a handful of significant emerging shifts could make the ride less than smooth.
There are lots of big, pivotal changes in terms of the direction of various indicators. Upcoming meaningful changes call for scuttling what has become a significant trend to short-term-focus investing; instead, the strategists urge a more advantageous long-term view.
Read more
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Eddy Farina, Fin. Pl., CIM
®
Senior Vice President, Investment Advisor 514.981.5727
" Whenever you find yourself on the side of the majority,
it's time to reform "
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514.981.5727 |
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Richardson GMP embraces fiduciary excellence. Read more
DISCLAIMER
The opinions expressed in this report are the opinions of the author and readers should not assume they reflect the opinions or recommendations of Richardson GMP Limited or its affiliates. Assumptions, opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. We do not warrant the completeness or accuracy of this material, and it should not be relied upon as such. Before acting on any recommendation, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice. Past performance is not indicative of future results.
Richardson GMP Limited, Member CIPF
Richardson is a trade-mark of James Richardson & Sons, Limited. GMP is a registered trade-mark of GMP Securities L.P. Both used under license by Richardson GMP Limited.
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