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2023 Hillsdale Investment Management – CFA Society Toronto Research Award

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Toronto, Feb. 22, 2023 (GLOBE NEWSWIRE) — (GLOBE NEWSWIRE) — CFA Society Toronto and Hillsdale Investment Management Inc invites submissions for the 2023 Hillsdale Investment Management – CFA Society Toronto Research Award. The application deadline is 14 July 2023.

“Collaborating with Hillsdale Investment Management for this award is a true partnership. We are both committed to furthering investment research and this award is an opportunity for professors, students, and practitioners to share their findings with us.” Fred Pinto, CFA, CEO CFA Society Toronto.

The award is open to global researchers conducting research related to Canadian capital markets including both academics (e.g. professors and students) and practitioners. Research papers will be reviewed by a panel of investment experts who will evaluate each submission to ensure they are in line with the rigorous values and standards embodied in the CFA designation. Author(s) of the winning research paper will be awarded $10,000 CAD and be announced at CFA Society Toronto’s marquee event, the 2023 Annual Investment Dinner.

“Since Hillsdale and CFA Society Toronto introduced the research award in 2010, we have been able to bring well-deserved recognition to practitioners of high-quality investment research.” said Chris Guthrie, CFA, President and CEO, Hillsdale Investment Management.

The application deadline is 14 July  2023.

Visit cfatoronto.ca/hillsdaleaward to learn more about the 2023 Hillsdale Investment Management – CFA Society Toronto Research Award.

Hillsdale Investment Management Inc.
Celebrating over a quarter of a century of investment excellence, Hillsdale Investment Management is an independent, employee-controlled, and client-aligned investment boutique serving a select group of institutional and private wealth investors. Hillsdale engages in disciplined active investment management, specializing in equities, alternatives, ESG, and customized mandates. Hillsdale is recognized for investment and service excellence – a reflection of its relentless pursuit of research and development and of the dedication of its employees. For more information, please refer to www.hillsdaleinv.com

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CFA Society Toronto
Founded in 1936, CFA Society Toronto is part of the worldwide network of CFA Institute member societies that lead the investment profession globally by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society. CFA Society Toronto represents the interests of over 11,000 investment professionals in the Greater Toronto Area through advocacy, education, events, and professional development.  For more information visit cfatoronto.ca or follow us on Twitter @cfatoronto and on LinkedIn CFA Society Toronto.

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Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk’s electric vehicle company

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NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.

Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.

“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”

Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.

Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.

Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.

Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.

In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.

The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.

And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.

Tesla began selling the software, which is called “Full Self-Driving,” nine years ago. But there are doubts about its reliability.

The stock is now showing a 16.1% gain for the year after rising the past two days.

The Canadian Press. All rights reserved.

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX up more than 200 points, U.S. markets also higher

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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