Decisions Under Risk

Published by Richardson GMP Asset Management on Nov 16, 2018

In this week’s Ethos, we take a deep dive into Loss Aversion, how this tends to make investor behave irrationally and how that can impact investing.... Continue reading
Market Ethos - October 29th, 2018

Published by Richardson GMP Asset Management on Oct 30, 2018

Halloween Corrections are a Little Scary, Debt is Scarier   In this Ethos we touch on why the current correction isn’t as scary as the ballooning of corporate debt. If you would like a good Halloween scare, this Ethos is for you. Continue reading
Market Ethos - October 22nd, 2018

Published by Richardson GMP Asset Management on Oct 22, 2018

Unloved Oil   In this week’s Ethos we share our views on the very wide spread between oil prices in Alberta and in the U.S. There are many short and long term contributing factors that may offer opportunities. Continue reading
Market Ethos - October 12th, 2018

Published by Richardson GMP Asset Management on Oct 12, 2018

Well That Escalated Quickly   Given the strong market sell-off yesterday and continued weakness today, we have published an early Market Ethos this week. In this report we share our views on the market weakness, what our Market Cycle indicators are telling... Continue reading
Market Ethos - October 1st, 2018

Published by Richardson GMP Asset Management on Oct 01, 2018

Bond Yields Rising   With U.S. 10-year Treasuries back above 3.0%, this week’s ethos shares our view on the direction of yields going forward and the implication for asset allocation. Continue reading
Market Ethos - September 24th, 2018

Published by Richardson GMP Asset Management on Sep 24, 2018

Market cycle: good but getting skinny   The current market cycle can be described as being “rather mature”. In this Ethos we examine our Market Cycle Framework, which while getting skinny remains supportive and well above the danger zone. Market breadth... Continue reading
Market Ethos - September 17th, 2018

Published by Richardson GMP Asset Management on Sep 18, 2018

The Anatomy of a Bubble Revisited: How High?   We believe three factors drive stock prices: fundamentals, technical analysis and human behaviour (market psychology). Fundamentals tend to play out and are the driving force of long-term results, technical... Continue reading
Market Ethos - September 10th, 2018

Published by Richardson GMP Asset Management on Sep 10, 2018

As facts change, so do our views   We have been long-time proponents of rising rates, that equity portfolios should be tilted heavily toward cyclical yield and limit exposure to interest rate sensitive companies. Cyclical yield companies are more sensitive... Continue reading
Market Ethos - September 4th, 2018

Published by Richardson GMP Asset Management on Sep 05, 2018

Style drift & the rise of the generalist   Style drift for a portfolio manager still has a negative connotation as it is viewed as deviating from their stated approach. But in a world where factor based funds/ETFs can offer a cheap alternatives to specific... Continue reading