Midyear market commentary - Third Quarter 2022
Global markets declined again in the third quarter as inflation remains near multi-decade highs, geopolitical tensions escalated further and the... Download the complete text
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Midyear market commentary - Second Quarter 2022
It has been a difficult start as markets faced a laundry list of concerns, notably new COVID lockdowns and economic weakness in China, Russia/Ukraine war, surging inflation... Download the complete text
Difficult start to the year on the markets - First Quarter 2022
War, inflation, and lingering impact of the pandemic made the first quarter a historically difficult one for both the stock and the bond markets. Download the complete text
Market Review - Fourth Quarter 2021
2021 was another year of turmoil marked by new COVID variants, disruptions of supply chains and inflation levels never experienced for many investors. Despite this backdrop, equities had a strong year... Download the complete text
Market Review - Third Quarter 2021
In Q3, we saw a shift in the narrative as investors' expectations, driven by strong economic data and corporate profitability, were counter-balanced by high inflation resulting from supply chain disruptions. Download the complete text
Allard, Allard & associés turned 25
During the pandemic, our firm turned 25. Even though the lockdown rules have prevented us from celebrating with the people who have contributed to the success of our firm since its creation, the anniversary still deserves to be highlighted. Download the complete text
The start of a great rotation
The markets have seen a marked shift in favorable investment styles over the last six months. Our strategies are well aligned with this shift and have significantly outperformed. Download the complete text
The year of COVID-19
Our memories of this last year will undoubtedly be linked to the global pandemic that defined it. From an economic perspective, the pandemic will have resulted in the worst recession since the Great Depression. Download the complete text
Summary of the 2020 third quarter
The quarter unfolded in two distinct phases. In July and August, markets continued under the previous quarter's momentum, encouraged by the strength of the job recovery and rising industrial production and discretionary spending. Download the complete text
2020 : The stock market in context
Everything was going well for the markets until the Coronavirus showed up. Fearing the effects of contagion of the virus, the governments paused their economies and investors nervousness increased considerably. Download the complete text
2020 : Stock Market Investment: Back to Basics
In this time of uncertainty, we felt that answering a few simple questions could help put some of the
recent events back into perspective. We will also, in so doing, reiterate some of the core principles supporting
the argument for stock market investing and provide you with some relevant data points. Download the complete text
A tale of two markets
Major stocks markets around the world advanced substantially over the past year, offering returns of more than 20% overall. Download the complete text
Is the value style still relevant?
Since the credit crisis more than 10 years ago, growth stocks have done better than value stocks. The extent and persistence of the growth style's outperformance over value style during this period has led many investors to question the current and future relevance of the value approach when investing. Download the complete text
The real value of ESG investing
Environmental, Social and Governance (ESG) investing can be summarized as an additional set of considerations prior to investment decision-making. Namely, asset managers aim to incorporate both a company’s financial returns as well as their... Download the complete text
2018: A self-fulfilling crisis
Early optimism exhibited in the stock market was overcome by increased pessimism and caution in the final months of 2018. Investors grew nervous in the face of rising geopolitical tensions... Download the complete text
Growth stocks lead the markets
In recent years, growth stocks have largely outperformed the various stock markets around the world. This trend has accelerated sharply since the beginning of the current year. Download the complete text.
When inflation wakes up
In the following article, Louis Allard, portfolio manager and president at our firm, shares his main concerns about the economy and the financial markets. Read the article (In French only) LA PRESSE+, MARTIN VALLIÈRES, May 14th 2018.
A volatile first quarter to start the year
In
the first quarter of 2018, investors had sharp reactions to the political,
monetary and economic headlines. These included election meddling
investigations, White House turnover, global interest rate levels, commodity price
movements and oil inventories to name a few. Download the complete text
"Blue chips": 3 stocks that Alexandre Legault likes
In this article from Les Affaires about blue chips, Alexandre Legault talks about 3 stocks he likes. Click here to read the article (in French only). Jean Décary, Les Affaires, February 10th, 2018
Against all odds, 2017 was a strong year for stock market returns
In 2017 there were, many significant events, notably: The rise of tensions between North Korea and the United States, the Catalan independence vote, numerous terrorist attacks, strong and numerous tropical storms, earthquakes, the “paradise papers”, etc. Download the complete text
Resources are setting the pace for the Canadian market
After spectacular returns in 2016, Canadian equity performance stagnated in the first half of 2017, with the S&P TSX Index returning 0.7%, lagging both US and international equity markets. Download the complete text
The benefits of a low capture of market declines
Assessing the performance of portfolio managers is not limited to measuring whether the returns of a strategy have exceeded those of a relevant benchmark. A more in-depth analysis will ensure consistency in the process ... Download the complete text
Allard, Allard & Associés wins an award
As part of the "Finance et Investissement" Top 25 ranking Gala of the Quebec's financial services sector, Allard, Allard & Associes is honoured in the Independent management companies category. Read the article (in French only) Finance et Investissement, Richard Cloutier, February 2017
5 tips for young professionals in the investment industry
Invest fully in your career, but take the time to do the right things without looking for shortcuts, advises Louis Allard, president of Allard, Allard & Associes. Read the article (in French only) Finance et Investissement, Richard Cloutier, February 2nd, 2017
A year of surprises
The fall in commodity prices in 2015 continued into early 2016 before bouncing back to the point where materials and energy became the two best-performing sectors in 2016 (after being the worst performers the previous year). Download the complete text
Regulatory changes set to improve financial industry reporting and disclosures
Canadian Securities regulators have introduced new regulatory requirements to enhance the client-investment counselor relationship. The latest industry-wide regulatory update is known as “Client Relationship Model 2” (CRM2), and applies to all investment dealers and investment counselors in Canada. CRM2 will take full effect on January 1st 2017 .... Download the complete text
First institutional mandate for AA&A
Allard, Allard & Associes is proud to have obtained a first institutional mandate from the Quebec emerging manager program. Read the article. qemp.ca
Stocks for retirees
In this article, four portfolio managers, including Alexandre Legault from Allard, Allard & Associes, recommend investments that would work well for retired investors. Read the article (in French) Les affaires, Jean Décary, August 27th, 2016
A strong rebound in gold, metals and oil
During the first half of 2016, the Canadian stock market bounced back as the S&P TSX returned 9.8%. Download the complete text.
2015: More fear than harm
The last year was challenging for equity investors as several factors contributed to the weakness in the markets. Download the complete text.
How much to save for retirement?
Very good article that provides tools to quantify the sums required to save for retirement. Read the article (in French) Les Affaires, IQPF, February 24th, 2016
Five resolutions for dividend investors
In this article, the author shares five resolutions for dividend investors. Read the article. THE GLOBE AND MAIL, JOHN HEINZL, January 5th, 2016.
A difficult quarter on the market
Canada’s main equity benchmark, the S&P TSX, had a rather difficult quarter with a 7.9% decline. Weakness in natural resources was largely... Download the complete text.
Quebec investors remain calm
In this article, Louis Allard, portfolio manager and president, comments client reaction in connection with the recent events on the stock markets. Click here to read the article. (in French only) LES AFFAIRES, JULIEN ARSENAULT, August 25th, 2015.
Is it still worthwhile to buy foreign stocks?
Many of our interlocutors ask us about the attractiveness and benefits of buying foreign stocks in a context where the loonie is hovering around 80 US cents. Download this article for our opinion on the matter (English version will be available soon).
Let's stay zen - Prevent the sinking
In a market crisis, investors are often ill advised by their instincts. Therefore, investment professionals need to get their clients to adopt a long term investment plan and above all to maintain that plan in the face of adversity Click here to read the article (in French only) Jean-François Venne, Conseiller.ca, February 17th, 2015.
Opportunities in the commodities
In the following article, Louis Allard, portfolio manager and president at our firm, gives us his reading of the markets, offers his perspective on the stock market and shares some investment advice. Read the article (In French only) LA PRESSE AFFAIRES, RICHARD DUFOUR, January 22nd 2015.
2014: Another good year in the face of adversity
Despite a few hiccups along the way, 2014 was a good year for the stock market. Download the complete text.
Goal of managing a billion
Portrait of the firm who will soon be
celebrating his 20 years of existence. Click here to read the article (in French only). Carl Renaud, Le journal de Montréal, November 17th, 2014.
Interview of Louis and Caroline Allard on Canal Argent
In this interview, Louis and Caroline Allard discuss the story of their firm
who will soon be celebrating their 20 years of existence. Click here to view the video (in French only). Le nouveau Québec inc., Canal Argent, November 17th, 2014.
Dorel's shares offer a good dividend at a reasonable price
In the following article, Caroline Allard, portfolio manager and vice-president at our firm, discusses the outlook for Quebec manufacturer Dorel. Read the article (in French only). LES AFFAIRES, STEPHANE ROLLAND, October 4th, 2014.
Can your RRIF survive the stress test?
In this article, the author describes a conservative scenario to demonstrate that by withdrawing 4.5% annually from a RRIF invested in stocks and bonds, it is likely that, despite the market turmoil, the RRIF will produce a return sufficient to ensure income throughout retirement. Read the article. Financial Post, Personal Finance section, Fred Vettese, September 23rd, 2014.
Bond yields and longevity risk
In the following article, Louis Allard, portfolio manager and president at our firm, warns investors on the risk of overweighting in fixed income an investment portfolio in the early context of rising bond yields. Read the article (in French only). LA PRESSE+, AFFAIRES section, ANDRÉ DUBUC, July 27th 2014.
Interview of Louis Allard on Canal Argent
See the recent interview by our President, Louis Allard, with the journalist Francois Gagnon on Canal Argent. Click here to view the video (in french).
Is it risky... to try to avoid risk?
Holding fixed income securities is desirable for most investors as they contribute to increase the consistency of a portfolio’s returns. However, although a higher weighting in fixed income may seem more cautious, this is not always the case. Download the complete text.
What to look for when investing $1 million
In this article, the author lists the benefits of hiring a portfolio manager rather than a broker or mutual fund representative, especially when the sums to invest become important. Read the article. THE GLOBE AND MAIL, David Aston, February 26th, 2014.
Discover quality securities
In
the following article, Caroline Allard, portfolio manager and vice-president
at our firm, gives
us her reading of the markets, offers her perspective on the stock market and shares some investment advice. Read the article (in French only). LA PRESSE AFFAIRES, RICHARD DUFOUR, January 19th 2014.
2013: An Amazing Year
2013 was a great year for equity investors. Obviously some of the uncertainties of recent years were not resolved ... Download the complete text.
Don't confuse the economy and the market
In this article, the journalist answers two questions from a reader about the influence of the economy on the stock market. Read the article. The Globe and Mail, John Heinzl, April 12, 2013.
The impact of stimuli since the 2008 crisis
Since the 2008 credit crisis, fiscal and monetary policies have been very accommodating. Why was the impact of the stimuli weaker than in past cycles? Download the complete text.
A very good year despite the gloom
At this time last year, the global economy was emerging from a difficult year in which stocks were down and expectations for 2012 were generally pessimistic. Download the complete text.
The coming fiscal cliff
French version only.
Major changes in 2011
The year that just ended was turbulent in many ways, creating volatility in the financial markets. Despite the extremely positive results for Canadian businesses, in 2011 the markets went into decline. In this context, it is more important than ever to invest in healthy businesses that pay dividends, and patiently await the pendulum's return. Download the complete text.
Stay the course
The debt crisis raging in the US and Europe is far from reassuring to investors. What we have noticed in certain key sectors of the Canadian economy, however, leads us to believe a return to 2008 is unlikely. This is not the time to change strategy: in the past, the stock market has rewarded investors who stay the course while others panic. Download the complete text.
Encouraging signs
Although the global economy is still languishing, certain economic indicators point to a reversal already underway. A return to profitability in the American banking sector; an increase in housing sales, durable-goods orders and new vehicles… In March, the market closed on a high note for the first time in 7 months. Download the complete text.
2008, Annus horribilis
2008 was a catastrophic year for the stock market, thanks to debt-crippled and under-regulated American financial institutions. In October, the entire financial system came close to collapsing. Nevertheless, we see light at the end of the tunnel. Download the complete text.