Archives

31

March

2013

First Quarter 2013 Letter

We are happy to report that for the first quarter of 2013, the weighted average return of our equity portfolios was +6% net of all fees versus +3.3% for the TSX Composite total return

31

December

2012

Fourth Quarter 2012 Letter

We are pleased to report that for 2012, the dollar-weighted average return of our segregated equity portfolios was +14.9% net of all fees (over 16% before fees), versus +7.2% for the TSX Composite

30

September

2012

Third Quarter 2012 Letter

We are pleased to report that for the third quarter of 2012, the dollar-weighted average return of our segregated equity portfolios was +6% net of all fees, versus +7% for the TSX Composite

30

June

2012

Second Quarter 2012 Letter

We are pleased to report that for the second quarter of 2012, the weighted average return of our equity portfolios was -2.7% net of all fees, versus -5.7% for the TSX Composite total return

31

March

2012

First Quarter 2012 Letter

We are pleased to report that for the first quarter of 2012, the weighted average return of our equity portfolios was +6.3% net of all fees, versus +4.4% for the TSX Composite total return

31

December

2011

Fourth Quarter Letter 2011

We are proud to report that in 2011, we generated positive equity returns in very difficult markets, marking our 5th year of outperformance out of the past 6 years versus the TSX Composite total return.

30

September

2011

Third Quarter 2011 Letter

For the third quarter of 2011, the weighted average net return of our all-equity portfolios was -3.5% versus -12.1% for the TSX Composite total return and -6.4% for the S&P500 (in $CDN).

30

June

2011

Second Quarter Letter 2011

For the second quarter of 2011, we are pleased that the weighted average net return of our all-equity portfolios was a positive 1.0%, versus a decline of 5.1% for the TSX Composite total return

31

March

2011

First Quarter Letter 2011

For the first quarter of 2011, the weighted average net return of our all-equity portfolios was 3.0%, versus a total return of 5.6% for the TSX Composite and a total return of 3.3% for the S&P500 (in $CDN).

31

December

2010

Fourth Quarter Letter 2010

We are very pleased to report that 2010 marks our 4th year of outperformance versus the TSX Composite Total Return out of the past 5 years. Since July 2006, when we implemented our new

4

October

2010

Third Quarter Letter 2010

For the third quarter of 2010, the weighted average net return of our all-equity portfolios was 9.6% compared to a total return of  10.3% for the TSX Composite and 7.8% for the S&P500 (in $CDN).

15

June

2010

Second Quarter Letter 2010

For the second quarter of 2010, the weighted average net return of our all-equity portfolios was -2.1% compared to -5.5% for the TSX Total Return and -7.1% for the S&P500 Total Return (in $CDN).

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