Congratulations to Gene Kim, Portfolio Manager and Private Wealth Manager with the Summit Private Wealth group, on being awarded Wealth Professional’s 5-Star Advisors 2023 for the third year running.
Gene’s focus on serving the specific needs of high-net-worth clients, and dedication to making Summit a premier destination for independent wealth management continues to be acknowledged with the industry’s top accolades.
Please find the full report on WP, and Gene’s profile.
MARKET PERSPECTIVE —
Patience is not simply the ability to wait – it’s how we behave while we’re waiting.
–Joyce Meyer
It’s easy to doubt the recession warnings we’ve been hearing about since March 2022, when the two-year Treasury yield and the ten-year Treasury yield officially inverted for the first time since 2019. A good deal of evidence seems to dispute the claim. Year-over-year average wage growth in Canada was up 5.1% in June, Canada’s housing market has rebounded sharply since March 2023, the S&P 500 is up over 14% since the beginning of the year, the tech-heavy Nasdaq Composite has increased 29% in 2023, and the US labour market is adding more jobs than forecasted. So where is the evidence of this much-anticipated recession?
Continue reading the entire market perspective here.
MARKET PERSPECTIVE —
Pennies do not come from heaven. They have to be earned here on Earth.
–Margaret Thatcher
The Iron Lady spoke those words in her speech to London’s retiring Lord Mayor in 1979. She was referring to government overspending but it makes for a fun intellectual indulgence to imagine how the former Prime Minister of the UK, known for her austerity measures, would react to the dizzying past year of central bank rate hikes. After all, the Piper demands payment eventually.
Continue reading the entire market perspective here.
MARKET PERSPECTIVE —
Life belongs to the living, and he who lives must be prepared for changes.
–Johann Wolfgang von Goethe
As 2022 draws to a close a sigh of relief can be felt throughout the markets. Inflation and the interest rate surprises of 2022 frighten us ever-so-slightly less, if only because the year is over. While it may be too soon for optimism, it does seem time to embrace the year-end mantra of, New Year, new you, for markets and the investment landscape.
Continue reading the entire market perspective here.
MARKET PERSPECTIVE —
No one saw the recession coming.
-Gordon Ramsay on his financial woes amidst the global financial crisis
As children head back to school and the leaves begin to change colours, for many of us it can feel like a new beginning; inflation, however, does not seem to be getting that memo.
Continue reading the entire market perspective here.
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