Connect with us

Investment

‘Twas the week before Christmas: Mawer’s 2019 year-end investing review — in poem form – Financial Post

Published

 on


Each year, some of the more creative types at Mawer Investment Management Ltd. put their lyric-writing talents to work to offer a timely variation of the “Twas the night before Christmas.”

This year, Mawer riffs on rate cuts, Brexit, trade wars, cannabis’ crazy ride and more.
The privately owned, independent investment firm, which takes pride in offering clients its “boring” investment approach, manages over $50 billion in assets for individual and institutional investors across all major investment strategies, with more than 150 employees across Calgary, Toronto, and Singapore.

‘Twas the week before Christmas

And Mawer’s on the scene
To tell you the tale
Of 2019

Was it good? Was it great?
Some say: yes! Ho, ho, ho!
(Though mixed signals and offsets
Oft’ ran the show)

Central banks’ interventions
Were less hawk than dove
Looking to bond markets
Like the North Star above

Interest rates, interest rates
The Fed doth cut thrice
Discount rates remain lower
Supporting stocks’ price

Quality is expensive
But may see us through
When you look at the long-term
With a bottom-up view

But we do pay attention
To themes that arise
That could impact markets
To avoid a surprise

Global economic growth
It did indeed slow
But shrink, it did not,
And onwards it goes

PMIs are indices
That tell you the trends
Of prevailing directions
Of the economy’s wends

Manufacturing was down
Germany was blue
A potential recession?
That could become true

But Servicing was steadfast
Employment was strong
Debt servicing manageable
Things kept chugging along.

And the saga continues
The deal’s not yet done!
Of course, we mean Brexit
It’s not a home run
Not all UK businesses
Will be affected the same
So whatever’s decided
Mawer’s still in the game.*
Oh Canada, Oh Cannabis
A wild ride for sure
A budding industry
We can’t yet endure

Now that brings us to trade wars
China vs. Trump
Tweets sending mixed messages
Stocks rise and then slump

But short-term daily movements
Don’t mean a whole lot
With great fundamentals
Our holdings—less fraught

Quality at a good price
—Both elements key—
To get the balance just right,
We work diligently.

Making sure we have offsets,
Looking for edges,
Natural contradictions
Are what make our hedges

Whether a blog or a podcast
We strive to make clear
We think micro not macro
—No predicting the year!

While the world is complex,
The road, it may wind,
We keep being boring
To give peace of mind.

* yes … we shamelessly reused this stanza from last year, as our thesis remains unchanged.

Let’s block ads! (Why?)



Source link

Continue Reading

Investment

PepsiCo Makes $550 Million Celsius Investment As Hip Hop Mogul Sues For His Shares – Forbes

Published

 on


PepsiCo
PEP
has its sights on gaining a bigger share of the energy drink with a $550 million investment in Celsius Holdings. The energy drink maker is also at the center of a lawsuit between Russell Simmons and his ex-wife Kimora Lee Simmons along with her husband Tim Leissner, as he tries to retrieve his shares in Celsius back from them. Allegedly Kimora Lee and Leissner transferred and were using his shares of Celsius as collateral to pay a bond in connection with these criminal charges. Leissner already pleaded guilty, and agreed to forfeit $43.7 million for his role in the Malaysia 1MDB scandal that cost Goldman more than $3 billion. Simmons alleges that his shares of Celsius are being used as collateral to pay a bond in connection with these criminal charges.

The Breakdown You Need To Know:

Celsius recorded a first-quarter domestic revenue increase of 217% to $123.5 million and the long-term distribution deal gives Pepsi a minority stake of about 8.5%. The brand, which doesn’t use artificial preservatives or sugar, adds to PepsiCo’s energy drink portfolio, which already includes Rockstar as well as Mountain Dew drinks Amp, Game Fuel, and Kickstart. CultureBanx reported that with these types of returns it’s easy to see why Simmons wants his shares back from the couple.

Quick Recap on how these three people ended up in this situation. Goldman Sachs
GS
last year agreed to pay the Malaysian government $3.1 billion, to settle claims in the 1Malaysia Development Berhad (1MDB) fund. One of the main people who got the bank involved in this scandal was Kimora Lee’s Simmons husband Tim Leissner.

The bank swiftly parted ways with him after his shady dealings with Jho Low came to light. In November 2018, when Leissner agreed to pay $43.7 million toward victim compensation, it was in order to avoid jail time.

In his claim, Simmons says Kimora and Leissner “knew full well that Leissner would need tens of millions of dollars to avoid jail time, stay out on bail, and forfeit monies for victim compensation.” Simmons claims they used their Celsius shares as collateral for Leissner’s bail, and he wants his shares returned.

Now Russell wants no financial part in keeping Leissner out of jail. In a letter sent to his ex-wife Kimora Lee on May 5, 2021, he was pleading with her to do the right thing and avoid a lawsuit. He wrote that “I am shocked and saddened to see how your side has behaved in response to my repeated attempts to get an agreement from you to rightfully and legally reaffirm my 50% of the Celsius shares..which have been locked up with the government after being used for your husband’s bail money.”

What’s Next:

A representative for Kimora Lee said “Kimora and her children are shocked by the extortive harassment coming from her ex-husband, Russell Simmons, who has decided to sue her for shares and dividends of Celsius stock in which Kimora and Tim Leissner invested millions of dollars.” At this point Russell is asking a judge for damages against Kimora and Leissner and believes he should be awarded restitution for interest and equal value for the wrongfully obtained shares.

Adblock test (Why?)



Source link

Continue Reading

Investment

Saskatchewan Leads Provinces In Building Construction Investment | News and Media – Government of Saskatchewan

Published

 on


Released on August 12, 2022

Saskatchewan first among the provinces in year-over-year growth

Today, Statistics Canada released June 2022 Investment in Building Construction numbers, which showed Saskatchewan with a 63.0 per cent increase (seasonally adjusted) compared to June 2021, ranking first among the provinces in terms of percentage change.

Saskatchewan also had strong month-to-month growth for building construction investment with a 17.6 per cent increase (seasonally adjusted) between May 2022 and June 2022, second among the provinces. The value of building construction investment in June 2022 was $464 million, the highest monthly investment in the province since August 2013.

Investment in residential building construction also saw strong month-to-month growth with an increase of 24.0 per cent.

“Saskatchewan’s economy is moving full steam ahead as we advance our Government’s strategy to increase our exports and attract investment into the province,” Trade and Export Development Minister Jeremy Harrison said. “Saskatchewan is a global leader in the sustainable production of the food, fuel and fertilizer that the world needs, a reality that will lead to more jobs and opportunities in our province for years to come.”

The latest Statistics Canada Labour Force Survey showed there were 581,600 people employed in July 2022 – an increase of 24,400 jobs (+4.4 per cent) compared to July 2021, the third highest percentage increase among the provinces. The seasonally adjusted unemployment rate of 4.0 per cent remained the second lowest among the provinces, a decrease from 7.1 per cent in July 2021 and well below the national average of 4.9 per cent.

Saskatchewan has ranked highly in a number of other key economic indicators in recent months, including June 2022 merchandise exports, which had the second highest year-over-year growth among the provinces at 57.3 per cent and June 2022 building permits, which had the second highest month-to-month growth among the provinces at 15.8 per cent and the third highest year-over-year growth at 27.4 per cent. June 2022 urban housing starts had the second highest year-over-year growth at 87.0 per cent, compared to the national increase of 0.2 per cent (unadjusted).

-30-

For more information, contact:

Jill Stroeder
Trade and Export Development
Phone: 306-787-6315
Email: Jill.stroeder@gov.sk.ca

Adblock test (Why?)



Source link

Continue Reading

Investment

Canada Pension Plan Investment Board loses 4.2% in Q1 – Investment Executive

Published

 on


Tax debts and the prescribed rate

Owing CRA money will soon be more expensive

Feds move ahead with CCPC measures

Draft legislation includes expanded SBD access, definition of substantive Canadian-controlled private corporation

Finance releases details on new First Home Savings Account

Proposed rules outline age limit and allow unused contribution room to be carried forward

Regulatory peril is banks’ top governance risk: Fitch

Failings that inflict broader reputational harm or signal deeper issues are most likely to impact credit ratings

Adblock test (Why?)



Source link

Continue Reading

Trending