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After more than a decade working as a market analyst on Bay Street, and two
amazing years as the Chief Canadian Strategist for Raymond James Ltd. (RJL), it
is with mixed emotion that I am announcing that I am moving on, and starting a
new chapter in my career.
I hope these final tips and insights will be of assistance as you navigate through
these challenging times. It has been my absolute pleasure in writing these
missives and providing advice and guidance over these last few years. You are
in good hands as clients of Raymond James Ltd. Thank you!
20.6
S&P 500
2.3
Russell 2000
0.4
MSCI World
While I will miss publishing these reports, supporting our great Financial
Advisors, and helping our clients navigate through these volatile markets, I am
very excited about my new role as co-Portfolio Manager (PM) for a leading
Canadian wealth management advisory practice.
In making this important career change from analyst to Financial Advisor and
PM, it forced me to take stock of my life and realize what is important. With that
in mind, I wanted to provide the key lessons that I have learned over my 18 year
career in the industry. They include: 1) going against the consensus; 2)
combining technical analysis with fundamentals; 3) controlling your emotions; 4)
focusing on the long-term; and 5) not being afraid to take a loss.
8.2
-0.5
MSCI Europe
-6.0
MSCI EAFE
-4.3
MSCI EM
-0.8
-15 -10 -5
Canadian Sector
Consumer Discretionary
Consumer Staples
Energy
Financials
Health Care
Industrials
Technology
Materials
Communications
Utilities
Technical Considerations
S&P/TSX Composite
50-DMA
200-DMA
RSI (14-day)
10 15 20 25
Reading
Uptrend
Uptrend
Neutral
16,000
15,500
15,000
14,500
14,000
13,500
13,000
12,500
12,000
11,500
S&P/TSX
50-DMA
200-DMA
11,000
Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15 Jan-16
Weekly Trends
2.
140
900
Apple Inc
200-day MA
Nortel Networks
800
120
A number of analysts
rated Nortel a Strong Buy
in Q4/00, just before its
historic collapse.
700
600
2014 14%
2015 43%
2013 -10%
2012 59%
100
2011 83%
2010 67%
80
500
2009 34%
400
60
300
40
200
20
2008 73%
2007 73%
Annual EPS growth:
2006 45%
100
0
'90
'93
'96
'99
'02
'05
'08
'06
'07
'08
'09
'10
'11
'12
'13
'14
'15
'16
Weekly Trends
3.
4.
5.
160
20%
Blackberry Ltd
140
15%
120
10%
100
5%
80
0%
60
-5%
40
S&P 500 10-Year Annualized Price Returns On
Rolling Monthly Basis
Average
-10%
20
0
-15%
38
43
48
53
58
63
68
73
78
83
88
93
98
03
08
13
'05
'06
'07
'08
'09
'10
'11
'12
'13
Weekly Trends
So there you have it! I hope these final tips and insights will be of assistance as you
navigate through these challenging times. It has been my absolute pleasure in
writing these missives and providing advice and guidance over these last few years.
You are in good hands as clients of Raymond James Ltd. Thank you!