Archives

24

April

2024

2024 First Quarter Letter

The 1st quarter of 2024 saw a continuation of the rebound in global equity markets that began in the last two months of 2023, however North American bond markets reversed course ending the quarter in negative territory due to stickier inflation and a delay in central bank interest rate cuts.

1

February

2024

2023 Fourth Quarter Letter

2023 was another volatile year for both Equity and Fixed Income markets, as investor sentiment swung from deep pessimism about stagflation and recessionary fears to euphoria that central banks might start aggressively cutting rates as soon as March 2024.

25

October

2023

2023 Third Quarter Letter

The 3rd quarter of 2023 was another volatile one for both global stocks and bonds.

25

July

2023

2023 Second Quarter Letter

The 2nd quarter of 2023 was again marked by volatility in both global stock and bond markets as investors tried to digest hawkish comments and renewed rate hikes by central banks in the face of declining but persistent inflation and a slowing global economy.

17

April

2023

2023 First Quarter Letter

The 1st quarter of 2023 was marked by continued extreme volatility in both global stock and bond markets. After a sharp correction in 2022, most world equity indices rebounded strongly.

27

January

2023

2022 Fourth Quarter Letter

During 2022, both equity and fixed income markets were at their most volatile since the pandemic outbreak and Global Financial Crisis in 2008-2009.

25

October

2022

2022 Third Quarter Letter

The 3rd quarter of 2022 was again marked by extreme volatility with both global equity and fixed income markets rebounding sharply in July only to collapse further in August and September.

15

July

2022

2022 Second Quarter Letter

The 2nd quarter of 2022 was again marked by extreme volatility with both global equity and fixed income markets suffering large declines.

29

April

2022

2022 First Quarter Letter

The 1st quarter of 2022 was marked by extreme volatility with both global stock and bond markets suffering sharp declines.

27

January

2022

2021 Fourth Quarter Letter

Once again, we would like to express our sincere hope that you and your loved ones have remained in good health and been able to weather this lengthy pandemic.

21

October

2021

2021 Third Quarter Letter

During the 3rd quarter of 2021, the LAM Canadian Equity Fund declined -4.5% before fees versus +0.2% for the TSX Composite Total Return.

21

July

2021

2021 Second Quarter Letter

During the 2nd quarter of 2021, the LAM Canadian Equity Fund rose +2.7% before fees versus +8.5% for the TSX Composite Total Return. Year-to-date, we are up +11.5% versus +17.3% for the TSX

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