Richard Coffin
June 14, 2019
Published by Richard Coffin at June 14, 2019
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“Do you know the only thing that gives me pleasure? It’s to see my dividends coming in.” That’s a quote from John D. Rockefeller, the first U.S. billionaire in history, and while investors today (hopefully) have other joys in life, many within the value investment community share Rockefeller’s love for […]
May 7, 2019
Published by Derek Dedman at May 7, 2019
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WDS proudly announces that Richard Coffin, the newest face at the company, has received his Chartered Financial Analyst (CFA) designation. The CFA is one of the most respected professional finance designations, considered a “gold standard” in the field of investment analysis. CFA holders have thoroughly studied a spectrum of topics […]
April 5, 2019
Published by Richard Coffin at April 5, 2019
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2019 started off strong, with Canadian and U.S. markets both experiencing low-teen returns in the first quarter. At the same time, 10-year government yields have fallen in both countries as central banks signaled a pause in their rate hikes; in the U.S., this has led to a yield inversion, with […]
March 8, 2019
Published by Richard Coffin at March 8, 2019
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An Important Lesson From Ben Graham by Charlie Munger (GuruFocus) This month’s article (link) features a short excerpt from an old Outstanding Investor Digest issue, in which Charlie Munger himself recalls an encounter he had with his investment mentor, Ben Graham, that taught him a valuable lesson about corporate management. […]
January 29, 2019
Published by Richard Coffin at January 29, 2019
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It was a tough year, with two corrections causing both Canadian and U.S. markets to experience negative returns in 2018. The Canadian dollar erased much of its progress against the greenback despite rising interest rates in Canada. Oil prices dropped drastically after rallying throughout most of the year. Gold, while down […]
December 14, 2018
Published by Richard Coffin at December 14, 2018
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Zoom Out, Baby, Zoom Out (Safal Niveshak) Talk about a lousy way to end the year; as if the 10% and 8% drops in the S&P500 and TSX at the start of 2018 weren’t enough, the last three months have erased all gains year-to-date. Things are looking pretty rough outside […]
November 9, 2018
Published by Richard Coffin at November 9, 2018
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Seth Klarman’s 3 Pillars of Investing (GuruFocus) Investment risk is not the same as volatility. This is a particularly topical axiom given the two market corrections we’ve experienced so far in 2018, and it’s one that’s highlighted by this month’s article (link) which shares the three-pillar investment strategy of Seth […]
October 15, 2018
Published by Richard Coffin at October 15, 2018
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U.S. stocks continue to recover from their tumble in February while Canadian markets remain flat year-to-date. This divergence reflects in the CAD/USD exchange rate, which is down 2.5% year-to-date. Long-term bond yields continue to climb in both countries, and while oil has seen a strong rebound, gold has fallen further […]
July 23, 2021
Published by Richard Coffin at July 23, 2021
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With COVID-19 waning, markets are shooting for new heights. While the US and international markets fared well, Canada actually outpaced its neighbour to the South thanks in part to a stark recovery in oil prices. The strong performance has allowed the Loonie to appreciate to levels not seen since 2015. […]
April 15, 2021
Published by Richard Coffin at April 15, 2021
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The lingering COVID-19 pandemic did not prevent markets from reaching new highs in the first quarter. Canada experienced the strongest run up, followed by the US and then international markets. Our Northern advantage is partly thanks to rising oil prices. Generous stimulus packages and the improving economy have some economists […]
January 25, 2021
Published by Richard Coffin at January 25, 2021
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Despite going through a pandemic and a tumultuous US election, the S&P 500 continued upwards to hit new highs while other markets (including our own) ended the year positive. Bond yields fell in Canada and the US while the loonie appreciated amid US inflation fears. Oil, while still meaningfully down […]
October 2, 2020
Published by Richard Coffin at October 2, 2020
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A resurgence of COVID-19 cases is keeping the market on its toes. Stocks remain down year-to-date in most regions, however the S&P500 hit new highs in September, demonstrating a divergence between the economy and the stock market in the States. Bond yields moved up marginally from Q2 but remain low […]