Outlook

May 1st was International Workers Day so David was reflecting on the diverse occupations of Canadians in 2025. Contrary to popular belief, Canada is not predominantly a nation of auto makers, potash miners, or dairy farmers. Instead, the majority of Canadians work in service industries such as retail, healthcare, education, and government. StatsCan data reveals that only a small fraction of the workforce is employed in manufacturing and agriculture. This article delves into the realities of the Canadian labor market, highlighting the significant roles of nurses, schoolteachers, store clerks, and government bureaucrats in shaping the nation's economy.

Someone (perhaps Mark Twain) once said that history doesn’t repeat itself, but it rhymes. Right now, the market seems to be composing a particularly unpleasant limerick. The sharp drop after President Trump’s Liberation Day speech was jarring, but if history is any guide, it will soon fade into the background noise of investing—much like every other “once-in-a-lifetime” market panic. As always, the best strategy is to take a deep breath, resist the urge to run for the exits, and remember that time in the market beats timing the market.

The stock market is looking more like Vegas these days—minus the free drinks. With Trump’s second term kicking off a frenzy in meme stocks, crypto gambles, and sky-high speculation, it’s easy to feel like you’re missing out. But as Morgan Housel wisely reminds us, the key to successful investing is knowing your game—and not accidentally wandering into someone else’s. In this month’s blog, we break down the latest market madness and why sticking to fundamentals is still the best bet (no dice required).

As 2025 dawns, Canada faces unprecedented challenges: a turbulent U.S.-Canada relationship under a Trump presidency marked by annexation threats and trade tensions, paired with domestic political instability and a weakening economy. Investors must stay ahead, leveraging opportunities in robust U.S. markets, a depreciating Canadian dollar, and transformative technologies like AI and sustainable energy. Amid uncertainty, vigilance and adaptability are key to thriving in this new global reality.

As we close out a remarkable November, with many portfolios reaching record highs, we turn our focus to the road ahead. 2025 presents new questions and opportunities for investors, from anticipated interest rate cuts in Canada to shifts in energy markets and the enduring strength of the "Magnificent Seven" tech giants. This month, David explores the key factors shaping the investment landscape for the coming year and reaffirms our long-term commitment to building wealth through disciplined strategies.

On Tuesday October 29th, 2024 seasoned investors Barry Schwartz and Ernest Wong hosted an exclusive webinar, Quality Investing for the Long Run. Discussing timeless strategies to build wealth and secure your financial future, even in a volatile market. Whether you're a beginner or an experienced investor, you'll gain actionable insights into long-term investment planning, portfolio management, and how to stay the course in an ever-changing financial landscape. Don’t miss out on this opportunity to learn from two experts who have navigated the ups and downs of the market for years.

Mike Tyson, known for his ferocity in the ring, once famously said, “Everyone has a plan until they get punched in the mouth.” This truth resonates deeply in our personal and financial lives, where unexpected challenges can quickly derail our best-laid strategies. At Baskin Wealth Management, we understand that true financial stewardship goes beyond investment advice; it’s about being a steady support during life’s unpredictable moments.

As we look back on a summer filled with its share of challenges, from rising costs to social unrest, it's easy to get swept up in a sense of discontent. But as Thanksgiving approaches, it’s important to pause and reflect on the many things we can still be grateful for as Canadians. Despite the obstacles we face, we continue to enjoy longer lives, greater wealth, and one of the safest, most educated societies in the world. So, while there's much work to be done, let's take a moment to appreciate all that is going right.

In this month’s newsletter, David addresses a question many of you have asked: How might the upcoming U.S. elections impact financial markets? While the election season stirs plenty of headlines, historical data shows the stock market tends to be more stable than we might expect, even in election years. Interestingly, if an incumbent party loses, the market sees a positive boost in the short term. As long-term investors, we focus on company performance and remain confident that quality companies will thrive, no matter the political outcome.

We’ve seen it all in the finance world – from the 1987 Black Monday crash to Nvidia’s meteoric rise in 2024. Here’s a golden nugget: fear trumps reason and trying to time the market is a sure way to give your money to the taxman. Remember, envy and greed can lead you astray, and sometimes doing nothing is your best move. Diversify like your wealth depends on it – because it does!

Now that hockey and the Blue Jays are done for the year, Canadians can return to a discussion of their favourite topic - real estate. The cost of shelter, be it buying a house or a condo, or renting a property, is very high. For the younger generation, they are wondering whether they can afford to buy while for those in the later stage of life, the question is whether to stay in their family home, buy a smaller house or condo, or perhaps rent. In this months newsletter, David focuses on the latter scenario, outlining some of the pros and cons of the different options.

In this months newsletter, David discusses how the pandemic has reshaped the commercial real estate landscape. From abandoned office buildings to repurposed spaces, city cores have been transformed and how and when this will be resolved is unknown. This completely unexpected turn of events, along with a number of other pandemic related investment trends that came and went, reinforced how complex markets can be from which he concludes that investing is about looking for quality, not headlines.