Anthony Layton MBA, CIM

Chairman & CEO, Portfolio Manager

Peter Guay MBA, CFA

Portfolio Manager
  • T514.875.7566 x 224
  • 1.800.875.7566
  • F514.875.9611
  • Place Alexis Nihon
  • 3400 de Maisonneuve Ouest,
    Suite 1501
  • Montreal, Quebec H3Z 3B8

2009 Markets in Retrospect

February 15, 2010 - 0 comments

With 2009 behind us, it’s the time of year when investors look back to take stock of how their portfolio performed.  The recovery has been swifter and stronger than most expected.  Rob Carrick of the Globe and Mail proves the point in his recent article “Post-traumatic Stress Investing” (Feb. 4, 2010, G&M):

“Rebounding after a catastrophic 2008, the S&P/TSX composite index surged last year by 33 per cent.[…] the polling firm Angus Reid recently delved into the question of how much investors benefited from this rally.  The poll results suggested that around 87 per cent of investors flat out missed it, and 86 per cent weren’t even aware of the extent of the turnaround.” Read the complete article.

For PWL clients, 2009 was a good year. Our portfolios remained invested - if not over-weighted - in equities to capture this rebound.  This has resulted in recovering most of the downside of 2008 without increasing the risk exposure of the portfolios.

The recovery is not over yet.  If you are holding cash on the sidelines or are not satisfied with the service you are receiving elsewhere, Peter and I would be glad to discuss any questions you may have.

On another note, it is also time to consider your 2009 RSP contributions. The amount you can contribute can be found on the bottom of your 2008 Notice of Assessment from the Canada Revenue Agency. Cheques for RSP contributions should be made payable to “TD Waterhouse.”

Don’t hesitate to call if you have any questions.

Best regards,


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