Oil inventories remain low, but recession fears leading to price declines continue to permeate the market.

How did 2023’s economic and market predictions turn out?

Predictions are often made but their accuracy never evaluated, yet this is an important step

For the past seven years in my newsletter, I have made annual “Fearless Predictions.” I also summarize predictions from the investment industry. The last chapter of my book, titled “If I claim to be a wise man…it surely means that I don’t know,” launched my annual prediction exercise, largely to poke fun at the process. […] Read more

exterior photo of the toronto stock exchange

The value of target prices

How accurate are analysts’ projections on stocks’ price movements?

One aspect of my character that has served me well over the years is a healthy sense of skepticism of what I hear or read. This “skill,” for lack of a better word, is becoming increasingly important in the information age, more accurately described as the misinformation age. I read a lot to know what […] Read more


Several reasons exist for the recent divergence between our two interconnected economies.

The tale of two economies

Strong energy prices would normally lead to a strong Canadian currency

U.S. third-quarter GDP (gross domestic product) grew at an annualized rate of 4.9 per cent. This followed second-quarter growth of 2.1 and first-quarter of 1.1 per cent. Rather than the widely predicted recession, the U.S has experienced accelerating growth. Canada, on the other hand, is flatlining, with first-quarter growth of 0.8 per cent, second-quarter at […] Read more




The global financial crisis — and volatile commodity prices that followed — has its roots in the relatively recent drive for early retirement

There has been much talk about the influence of investment funds on commodity prices and suggestions that these investments may need to be regulated. We argue here that investing in commodity markets is just one aspect of the broader retirement dilemma we are all faceing, and that regulation of investments in commodity markets may not […] Read more