February 14th, 2014

2014 Kicked Off With Too Few Bears

In 2013, the financial markets began to put the fears rooted in the Financial Crisis behind them as investors
began to sense that there was light at the end of the tunnel. Optimism seemed to replace fear and investors
began a flight out of the safety of bonds and into equities. As last year drew to…

November 7th, 2013

The Challenges of Oversupply

This edition of our newsletter takes a look at a topic that we think deserves more attention from investors
and policy makers. Since the end of the last reces- sion, there has been much debate around the topic of why
the global economy has not been more responsive to the more than 500 interest rate…

September 8th, 2013

Submerging Markets – the downside of developing economies

Over the last several years, investors became accustomed to the belief that the influence of the U.S. economy
and its policies on the emerging markets nations was waning. The emerging markets countries include the
well-publicized BRICs group of countries (Brazil, Russia, India, and China) but also …

August 6th, 2013

Investors have a Taper Tantrum

The financial industry rarely has a challenge when coming up with clever headlines to describe the markets.
Our newsletter gets its title from recent investor reaction to the mere hint that the US Feder-<br> al
Reserve (the ‘Fed’) may reduce or ‘taper’ its monthly $85 billion bond pur…

May 15th, 2013

Zoomer Magazine Interviews Pacifica Partners

Zoomer Magazine interviews Pacifica Partners' Chief Investment Officer, AJ Sull in their March 2013 Smart
Money Strategies issue. AJ provides his insight on investment strategies for the 50 something demographic. An
excerpt of the Smart Money Strategies column is included below. Please visist every…

May 14th, 2013

Canada & the USA, a Tale of Two Economies

When two countries are as interconnected as Canada and the US, it is often the case that their respective
economic circumstances are at least somewhat similar. For these two North American neighbors, however, their
economies and stock markets have diverged considerably over recent months. This shou…

May 14th, 2013

Canada US Real Estate Chartbook

Horace, the ancient Roman poet of the first century BCE wrote in his work Ars Poetica, "many shall be
restored that are now fallen and many shall fall that are now in honor." We can say with absolute certainty
that Horace was not referring to modern day North American real estate markets. However, …

April 18th, 2013

The buying power of Gold

With a decade of surging gold prices behind us and a more recent period of weakness that has sent bullion
back to mid-2011 levels, investors are left wondering what to do. This question actually consists of two real
dilemmas. Firstly, for those owning copious amounts of bullion, gold-stocks, or oth…

April 11th, 2013

Not all stock buybacks are created equal

To an income oriented investor, today’s low interest rates are proving to be a challenge. The “easy
money” policies of most central banks have driven interest rates “lower for longer” and created a demand
for income oriented equities. The boards of many publicly traded companies have resp…

February 18th, 2013

Debt, Profits, Canada & more

In the final hours of the 2012 trading year, the financial markets showed their relief that Congress and the
White House had reached an agreement and the “Fiscal Cliff” would be averted. The collective attention of
the markets is now turning to the Debt Ceiling talks which involve Congress sign…