Jump Around: The Inconvenient Truth of Investing
Wednesday, August 28, 2019
by Matt Dunn
In this blog, we shed light on the inconvenient truth of market timing and chasing performance, and how this strategy leads to a one-way ticket to the ‘House of Pain’. Read More
Your Roadmap to Investing Success
Thursday, May 9, 2019
by Russ MacKay
In the following article we highlight the importance of a properly structured Investment Policy Statement. This is the starting point for all clients who engage with CWB ... Read More
How Fund Classes can Camouflage Fees
Friday, March 22, 2019
by Kevin Dehod
As myself and our client portfolio management team have been meeting with potential new clients over the last few years, we've noticed more and more that F class mutual f... Read More
The Rise of the Machines
Monday, January 14, 2019
by Kevin Dehod
Volatility returned with a vengeance in 2018. Although many fundamental economic factors triggered this, we take a deeper dive into an investment approach that is greatly... Read More
What’s the Fear & Where Do We Go From Here?
Friday, October 26, 2018
by Ric Palombi
Many investors believe a global recession is on the horizon. Our latest blog discusses the cause of this fear, our analysis on why we believe there is low probability of ... Read More
Well-being Goes Deeper Than Numbers
Monday, October 15, 2018
by Kevin Dehod
As we continue our journey of treating our clients beyond being "just numbers on a spreadsheet", we thought about how we could help make our client's world better by prov... Read More
Uncertainty Abounds - Perfect Storm for Value Investors
Wednesday, August 22, 2018
by Ric Palombi
Over the last six months, a growing number of issues have come together to create a perfect storm in the international markets – creating plenty of opportunities for valu... Read More
Don’t Let the Tail Wag the Dog
Tuesday, June 19, 2018
by Russ MacKay
We co-hosted a special event, Minimizing Tax & Maximizing Opportunities, for clients and guests who may be impacted by the new tax legislation surrounding Canadian Contr... Read More
Simplicity in Times of Turbulence
Thursday, April 5, 2018
by Saket Mundra
Each day as I go home, my three year old daughter eagerly waits for my return. While my inclination is to believe that she missed me throughout the day, the truth is that... Read More
Increasing Your Household's After-Tax Income
Tuesday, March 6, 2018
by Tom Stachiw
While there have been many changes announced which may increase a person’s taxes, there is still one legitimate strategy worth considering to reduce taxes – income splitt... Read More
Arc Resources: A Gas or Oil Company?
Monday, February 5, 2018
by Edward Friedman
Canada's commodity space is a difficult space to analyze as it is comprised of only a handful of high quality companies. Since most investors are chasing the same high qu... Read More
President's Message: Looking to the Future
Wednesday, December 20, 2017
by Kevin Dehod
As 2017 draws to a close, it will be four years that I’ve been President & CEO of McLean & Partners. As we’re half-way through the last month of the year, this strikes me... Read More
Globe & Mail: October 4, 2017
Wednesday, October 4, 2017
by Kathy Kerr
“Buying local” has been an emerging trend over the last few years, but what about “investing local”? Read this article on whether investing locally is a good idea, and if... Read More
Sure Bet Against Emerging Markets
Friday, August 11, 2017
by Ric Palombi
It is ingrained in an investor's psyche that betting on emerging markets underperforming was a sure bet. We believe, however, that now is the time for EM underperformance... Read More
International Investing. It's not Foreign.
Tuesday, June 20, 2017
by Kevin Dehod
Canadian-based investors have a tendency to be more comfortable investing in stocks that trade on the Toronto Stock Exchange (S&P/TSX Composite Index). They filter their ... Read More
Macron's In, What's Next?
Tuesday, May 9, 2017
by Ric Palombi
Emmanuel Macron made history on Sunday, May 7th, becoming the youngest president of France. We discuss our investment position leading up to the French elections and what... Read More
Our Journey with Home Capital Group
Wednesday, May 3, 2017
by Edward Friedman
Books on investments usually talk about the importance of buying good companies and sticking with them for the long run. Rarely do they discuss the virtues or the importa... Read More
Fundamental Thinking in an Uncertain World
Monday, April 17, 2017
by Jimmy Desai
What do Rolls-Royce and John Deere have in common? The answer seems to be 'not much'. For the purposes of this Market Intelligence, we discuss how both companies faced un... Read More
Demystifying Individual Pension Plans
Wednesday, March 1, 2017
by Mark Lesniewski, IPP Inc...
Consider the plight of the typical Canadian business owner trying to accumulate financial security for retirement. The challenges are daunting.
Read More
Caution on Owning Canadian Banks
Tuesday, February 14, 2017
by Edward Friedman
Canadian banks have been stellar performers over the last 14 years, however, some factors are working against the banks, which we believe will negatively impact the banks... Read More
Part 3 - Fallacy of Owning Quality Companies At Any Price
Monday, January 23, 2017
by Saket Mundra
In this Market Intelligence, the last of the series, we explore what 'fair price' means (at which price point should you pay for a quality company), whether this an absol... Read More
Market Fears on Chinese Banks Are Misplaced; Opportunity Abo...
Tuesday, November 15, 2016
by Edward Friedman
Major market misperceptions and misunderstandings leave Chinese banks seriously undervalued. This blog goes beyond the headlines to seek the truth about the Chinese bank... Read More
Market Bulletin: Trump Election
Wednesday, November 9, 2016
by Ric Palombi, CFA
Making major headlines leading up to the election, and then throwing the markets into whipsaw today – one thing that is prevalent is that Donald Trump, as the new Preside... Read More
Selling U.S. Real Estate
Thursday, September 22, 2016
by McLean & Partners
Given the decline of the Canadian dollar and rebound of U.S. real estate prices over the last few years, you may be reconsidering your U.S. real estate investment. We pa... Read More
Part 2 - Fallacy of Owning Quality Companies At Any Price
Monday, August 29, 2016
by Saket Mundra, CFA, MBA
The world has become slightly different in the two months since we published our last Market Intelligence, “Fallacy of Owning Quality Companies at Any Price – Part I”. As... Read More
Donations Wealth Preservation Update
Tuesday, August 2, 2016
by Ian Robinson
Have you ever considered donating publicly-traded securities—such as stocks and bonds—to a charity? This is a smart and tax-effective alternative to the donation of cash... Read More
Freezing Value Inside of a Corporation
Tuesday, August 2, 2016
by Claudius Du Plooy
If you are a Canadian business owner, you may want to consider employing the strategy of an “estate freeze” to achieve your estate planning objectives. Read More
Income Splitting Loans
Tuesday, August 2, 2016
by Ian Robinson, Grant Thor...
For the past several years, in an effort to stimulate the economy, the government has followed a policy of maintaining low interest rates. It’s widely expected that the p... Read More
Shifting Focus to Unloved Canadian Sectors
Thursday, July 28, 2016
by Ric Palombi, CFA
With the TSX being the second best performing market this year and the recovery in commodity-oriented sectors in Canada coming quicker than expected, we are seeing opport... Read More
Market Bulletin: Brexit It Is
Friday, June 24, 2016
by M&P Research Team
Up until the very last minute, expectations were leaning towards a UK "Remain" vote. However, in what turned out to be a big surprise, the UK narrowly voted to leave the ... Read More
Should investors fear the unknown and unknowable?
Wednesday, June 15, 2016
by Ric Palombi, CFA
With the Brexit vote a week away, markets have already begun reacting to their fear of uncertainty. In this blog, we discuss what we do know about the Brexit and how we'r... Read More
Part 1 - Fallacy of Owning Quality Companies At Any Price
Friday, June 3, 2016
by Saket Mundra, CFA, MBA
In this current bull market, investors are in high pursuit of owning 'quality' companies - but there are flaws in how investors are applying this strategy. Read the first... Read More
Energy + Dividends = Do They Add Up?
Tuesday, May 3, 2016
by Russ MacKay, CIM
For years the energy sector offered the best of all worlds, stocks and dividends were both going up on the merits of rising commodity prices. Unfortunately the downturn i... Read More
Chinese Policies for Economic Recovery
Wednesday, April 27, 2016
by Ric Palombi, CFA
In this latest Market Intelligence, we highlight the key targets outlined for the upcoming year (from China's recently held National People's Congress), provide insight i... Read More
Is Your Portfolio Going to be "Trumped"?
Wednesday, April 20, 2016
by Anil Tahiliani, CFA, MBA
As the U.S. Republican and Democratic races head into their final conventions to select their presidential nominee, and the race for the White House begins for the next f... Read More
Key Takeaways from the FOMC Policy Meeting
Thursday, March 17, 2016
by Ric Palombi, CFA
The Fed held their policy meeting yesterday, and as expected, interest rates were held steady. In this blog, we discuss key takeaways from Yellen's press conference. Read More
International Women's Day... What Inspires Us
Tuesday, March 8, 2016
by Erica Gordon
What inspires us... on International Women's Day. Read More
Market Wired: February 17, 2016
Wednesday, February 17, 2016
CWB (TSX:CWB) is pleased to announce the launch of CWB Wealth Management, a company dedicated to providing comprehensive financial planning, advisory and wealth managemen... Read More
Why a Prenuptial or Cohabitation Agreement?
Tuesday, February 2, 2016
by Warren Jennings
Couples should consider these agreements as it allows them to make decisions on nancially sensitive issues and execute control over their nances without being caught by... Read More
What Do Negative Interest Rates Mean?
Tuesday, February 2, 2016
by Lawrence Mah, CFA, MBA
The Bank of Japan surprised markets when they moved to a negative interest rate. In our latest blog, we discuss what negative interest rates mean, and how this impacts ou... Read More
Bloomberg Business: January 29, 2016
Friday, January 29, 2016
by Rebecca Penty, Ari Altst...
Investors are steering clear of Canadian energy bonds amid warnings of more credit downgrades as a rout in oil passes 19 months with no end in sight. Read More
Anatomy of the Global Sell-Off
Wednesday, January 13, 2016
by Ric Palombi, CFA
The new year kicked off with a global sell-off when China reported a lower manufacturing PMI. Investors fear that a potentially competitively devaluating yuan could lead ... Read More
Year End Wealth Management Check List
Monday, December 21, 2015
by McLean & Partners Portfo...
As 2015 draws to a close, it is important to reflect on the myriad changes that have occurred in Canada's political landscape - first, an orange wave that swept across Al... Read More
One Year Anniversary
Thursday, November 12, 2015
by Russ MacKay, CIM
With the vision to offer our clients more opportunities for customized portfolios, improved tax efficiencies, and simplified portfolio accounting, we introduced two new p... Read More
Planning for Higher Taxes
Wednesday, November 4, 2015
by Russ MacKay, CIM
With any new government, the introduction of new legislations may come as a bit of a surprise, especially in the case of tax laws. While incorporating tax efficiencies sh... Read More
Election 2015: Change is Coming
Monday, October 19, 2015
by Scott Coleman
Today marks Election Day here in Canada – a day that many of us have been anticipating for the last couple of months. Over the past year, Canada has experienced a fair sh... Read More
Preferred Shares: The Perfect Storm
Wednesday, September 30, 2015
by Jennifer Rendle, CFA
Many investors were surprised by the recent underperformance of the preferred share market. Often considered a more conservative asset class, like bonds, many investors w... Read More
China Sell-Off
Friday, July 31, 2015
by Ric Palombi, CFA & Edwar...
China’s Shanghai Composite Index was down 32 per cent (from June 12 to July 8) in the past month, carving an estimated $3 trillion off the market capitalization. Read More
Key Person Insurance
Tuesday, July 7, 2015
by Mike Deboski, Deboski & ...
It is difficult to quantify how valuable you are to the business. Key Person Insurance determines how much liquidity your company will need to keep things moving when you... Read More
Will Europe Go Into Recession?
Monday, July 6, 2015
by Ric Palombi
Greek voters delivered an overwhelming "no" vote to the proposed terms of a bailout by the Euro Zone; the markets are showing continued volatility, and are subject to ext... Read More
Change in Alberta carbon emission tax system
Tuesday, June 30, 2015
by Edward Friedman & Jimmy ...
Alberta's climate change regulatory system, which was due to expire at the end of June, 2015, was extended to 2017, as an interim measure by the newly-elected NDP governm... Read More
Greek Saga Continues
Monday, June 29, 2015
by M&P Research Team
Over the weekend, news poured in regarding the intensification of the crisis in Greece, and the headlines have continued into this week. EU-Greece talks were called off o... Read More
Sea of Change in Euro Telecom
Monday, June 29, 2015
Changes in the European telecom industry has benefited the big players, turning them from purported losers into clear winners - and McLean & Partners' International Strat... Read More
TMI celebrates its third birthday
Friday, June 19, 2015
by Scott Coleman
McLean & Partners Tactical Monthly Income (TMI) Strategy celebrates its third birthday this month. This strategy has provided investors with a solid foundation geared tow... Read More
Taking Advantage of Income Splitting Loans
Tuesday, May 19, 2015
by Scott Coleman
When considering wealth management options and the resources available, it's important to note that only one portion of the plan deals with asset investment. The big pict... Read More
Meanwhile in China...
Thursday, April 30, 2015
by Scott Coleman
Looking back to the beginning of Q3 2014, investors had basked in an incredible run in the U.S. markets and were being rewarded locally due to triple-digit oil prices and... Read More
When It’s Time for a Little Payback
Monday, April 6, 2015
by Ian Robinson, Grant Thor...
Remuneration strategies for incorporated professionals
Read More
Positioning Yourself for Opportunities
Thursday, April 2, 2015
by Scott Coleman
Over the past three and five year periods, the international markets have considerably outperformed the Canadian market; and as a result, investors who took advantage of ... Read More
Cheque It Out!
Tuesday, March 31, 2015
In this month’s Market Intelligence we wanted to highlight one of our Canadian companies. We discuss why we decided to buy their stock for our portfolios and why we conti... Read More
Kraft and Heinz Merged to Create World's Fifth-Largest Food ...
Wednesday, March 25, 2015
by Anil Tahiliani
Kraft announced a merger with H.J. Heinz Co., which is owned by 3G Capital and Berkshire Hathaway. This new company, called Kraft Heinz Co., is the fifth-largest food and... Read More
Chinese QE?
Thursday, March 19, 2015
by Ric Palombi
As part of the National People's Congress (NPC) meetings, it was announced that the Chinese government will allow local governments to swap as much as CNY 1 trillion in h... Read More
Insured Annuities
Tuesday, March 10, 2015
by John Huot, Strategy Part...
A life annuity by definition is a promise by one party to make a series of payments to another for their lifetime. Consider making Insured Annuities a valuable component ... Read More
China's Rate Cut Sooner Than Expected
Monday, March 2, 2015
by Ric Palombi
Over the weekend, the People’s Bank of China (PBOC) announced interest rate cuts of 25bps in both benchmark lending and deposit rates. Though the rate cut came as no coin... Read More
Value Across the Pond
Friday, February 6, 2015
by Russ MacKay
Given some recent news, investors seeking diversification outside of Canada may want to consider Europe as a market worth having exposure to. Read More
Two Key Elements to a Better Investment Strategy
Sunday, February 1, 2015
The new year is an ideal time to reflect on the year that was, and better prepare yourself for the year ahead. One of the realities investors must accept is that when it ... Read More
Greek Election
Monday, January 19, 2015
by Ric Palombi
Once again, Greece will dominate many of the headlines as they prepare for their national elections. We feel that Greece will undoubtedly stay in the Euro regardless of w... Read More
Oil and the Euro
Thursday, January 8, 2015
by Ric Palombi
There are two major forces in play right now: lower oil prices and a continued weakened Euro. Both of these forces can be viewed as positives for certain countries, and c... Read More
Sometimes You Can Have Too Much Energy
Friday, December 19, 2014
by Kevin McLachlan
When it comes to the oil and gas industry, some people in Alberta can end up significantly overweight in this sector within their investment portfolios. Read More
Sometimes You Can Have Too Much Energy
Friday, December 19, 2014
While energy resource based investments can create significant wealth for certain individuals, high exposure to this area creates significant portfolio implications. Read More
Estate Planning for Your Special Needs Children
Thursday, December 18, 2014
by Gordon VanderLeek, Vande...
When it comes to estate planning, parents of special needs children are in a unique situation. Good planning ensures everybody in your family will have what they need aft... Read More
How Much Is Your Business Worth?
Tuesday, December 16, 2014
by Mark Wardell, Wardell Pr...
To maximize the value of your business, it must become a commodity in and of itself. You need to think of your entire business as if it were an enormous complex product s... Read More
Managing Risk for Directors
Tuesday, December 16, 2014
by David Sevalrud, Carscall...
There are two kinds of risk that directors of corporations must understand. In both cases, there is potential personal liability that directors can avoid or manage. Read More
Your Shareholders' Agreement
Tuesday, December 16, 2014
by Mike Deboski, Deboski & ...
The Shareholders' agreement is easily forgotten until misunderstandings arise or a share transaction is about to occur, at which time the Agreement becomes highly relevan... Read More
A Household Name You Should Know... Or Do You?
Friday, November 28, 2014
In this Market Intelligence, we discuss how we apply our investment philosophy and insights to a company that we hold in our portfolio. The company in question is a house... Read More
The Globe And Mail: Nov. 18, 2014
Tuesday, November 18, 2014
Bank of Nova Scotia, the top arranger of Canadian stock sales for the first time since at least 2000, is poised to reap Bay Street’s biggest investment-banking revenue ga... Read More
Corrections are Normal
Thursday, October 23, 2014
Recent economic data has led investors to believe that global economic growth is slowing. This growth scare has caused global stock markets to enter a corrective phase. S... Read More
Opportunities in Europe
Thursday, October 23, 2014
by Russ MacKay
Among the new set of measures unveiled by the ECB in recent months, the TLTRO and the ABS purchase program should provide the catalyst to create "new money" in the bankin... Read More
Alibaba – Portfolio Implications
Monday, September 22, 2014
by Ric Palombi
While we do not hold Alibaba in the portfolio there are some direct and indirect implications for the biggest IPO in history. [...] Read More
'Doing Nothing' - The Unloved Alternative
Tuesday, August 26, 2014
In a world where instant gratification is of utmost priority and relativity reigns supreme over the absolute, there is a constant urge/expectation to act. It sounds simpl... Read More
Opportunities Abroad
Friday, July 18, 2014
by Russ MacKay
One of the key subjects in our latest Quarterly Outlook reviewed our thoughts on China. We believe Chinese stocks will outperform in 2014 as we anticipate improving econo... Read More
Correlations Play a Key Role in Diversifying
Friday, June 27, 2014
by Russ MacKay
Diversification is an important part of an investment strategy if you are seeking risk sensitive returns. The main method to achieve diversification is to acquire securit... Read More
Stampede to the International Market
Friday, June 27, 2014
The global stock markets over the past several years have exhibited a high degree of volatility and disparate returns, which begs the question as to whether international... Read More
Bloomberg: June 6, 2014
Friday, June 6, 2014
McLean & Partners is gaining exposure to the US recovery by wagering bonds of Goldman Sachs Group Inc. This makes sense because the securities of US banks' Maple bonds ha... Read More
What was not being talked about?
Thursday, June 5, 2014
by Russ MacKay
Two members of our research team attended the Bernstein Analysts' conference in New York having attended multiple presentations and discussions with a variety of global c... Read More
Do Away with Sell in May
Friday, May 30, 2014
You may be familiar with one of Wall Street's most popular clichés "sell in May and go away" (SIMGA). As the theory goes, many investors go on holidays during the summer... Read More
Time is on Your Side
Thursday, May 8, 2014
by Russ MacKay
Alarming studies indicate that the average individual investor has an extraordinarily challenging time keeping up with the major asset classes, or even generating adequat... Read More
Time is on Your Side
Wednesday, April 30, 2014
Alarming studies indicate that the average individual investor has an extraordinarily challenging time keeping up with the major asset classes, or even generating adequat... Read More
Run, Forrest, Run!
Tuesday, April 8, 2014
by Anil Tahiliani
Although Dividend Growth Investing has been the buzz word used by the media as a new type of investing for the last 3 years, it’s really not new. McLean & Partners has be... Read More
Run, Forrest, Run
Monday, March 31, 2014
Although the popularity of Dividend Growth investing has been on the rise for the last 3 years, McLean & Partners has been focused on this fundamental investing as our co... Read More
Why Invest in Brazil?
Thursday, March 6, 2014
by Russ MacKay
In our February Market Intelligence, we highlight three reasons on why we feel Brazil presents great investment potentials today. The first reason being that Brazil offer... Read More
Why Brazil?
Friday, February 28, 2014
“Why invest in Brazil” is a fair question many investors may be asking given that the South American nation is believed, by many, to have limited growth prospects due to ... Read More
Alberta Venture: February 24, 2014
Monday, February 24, 2014
At its core, the financial services industry is based on a simple proposition: that the advice and guidance it offers is worth the price people pay for it Read More
Globe & Mail: February 18, 2014
Tuesday, February 18, 2014
“It’s getting harder to find value,” says the portfolio manager with McLean & Partners Wealth Management in Calgary. “There’s no big rush to put gobs of money to work rig... Read More
Financial Post: February 5, 2014
Wednesday, February 5, 2014
Strong gains for U.S. equity markets last year and the historical precedent for corrections has Anil Tahiliani preparing for a pullback. Read More
The 11th Resolution
Friday, January 24, 2014
Every year, people all over the world enjoy the holiday season... Come New Year’s Day, many contemplate New Year’s Resolutions. Why not make yearly rebalancing your 11th ... Read More
Outlook to Start 2014
Monday, January 20, 2014
by Russ MacKay
Last year global investors were surprised by the strength of the U.S. and European stock markets which returned approximately 38% and 31% in Canadian dollars, respectivel... Read More
Black Friday
Thursday, November 28, 2013
by Russ MacKay
As the United States gears up for Black Friday I like to look back to see how the markets have fared along the same concept.  Black Friday is traditionally the time of ye... Read More
Rob Ford, Senate Scandals, and yes…
Friday, November 22, 2013
by Russ MacKay
While the mainstream media had their eyes and ears on Rob Ford and the Senate scandal, far more important things were happening in China.  On November 17th China released... Read More
Chinese Government's Roadmap to Reform
Thursday, November 21, 2013
In a 20-page blueprint for reform released on November 17, 2013, Chinese leaders pledged to open the financial sector and relax curbs on other sectors closed to investors... Read More
China Looking Attractive
Monday, October 21, 2013
by Russ MacKay
As we shared in our latest quarterly Outlook Report, the Chinese economy appears to be improving based on a number of economic indicators, including the continued rise in... Read More
Globe and Mail: September 24, 2013
Tuesday, September 24, 2013
Portfolio manager Anil Tahiliani of Calgary-based McLean & Partners Wealth Management is especially keen on energy- and materials-related stocks that have lagged the mark... Read More
A Fork In The Road: What’s Next For Interest Rates
Friday, September 20, 2013
by Russ MacKay
We have recently released a new white paper A Fork In The Road. This commentary gives a current snapshot of the U.S. Federal Reserve program QE3, and provides a guide to ... Read More
Financial Post: September 10, 2013
Tuesday, September 10, 2013
Any stock-market pullback that results from tapering by the Federal Reserve or military strikes on Syria has Anil Tahiliani thinking about buying opportunities. Read More
Keep Calm And Invest On
Tuesday, September 3, 2013
by Russ MacKay
It appears that a US led strike on Syria is becoming more and more likely. There has been a pattern on the US stock market historically leading up to military actions lik... Read More
Bloomberg: August 8, 2013
Thursday, August 8, 2013
Potash Corp. of Saskatchewan Inc. bonds are heading toward junk status on wagers the breakup of one of the two marketing groups for the crop nutrient will lead to lower p... Read More
Sentiment of American Investors
Wednesday, July 31, 2013
by Russ MacKay
We continue to see stronger conviction in the market compared to historical standards. According to the American Association of Individual Investors (AAII), as of July 24... Read More
The Old Normal
Tuesday, July 30, 2013
Since the 2008-2009 economic crisis, investors have adopted a buzzword coined by Mohamed El-Erian of PIMCO, ‘the new normal’. ‘The new normal’ refers to the idea that wes... Read More
Ben Speaks
Wednesday, July 17, 2013
by Russ MacKay
All eyes and ears will be on Fed Chairman Ben Bernanke as he gives his semi-annual testimony on monetary policy this week. While many market pundits are still anticipatin... Read More
Midpoint of the Year
Wednesday, July 3, 2013
by Russ MacKay
We have now reached the midpoint of 2013, and many of the global equity markets continue to outpace the Canadian market.  The S&P 500 and the Nikkei have each deliver... Read More
Reverse of the Trend
Wednesday, June 26, 2013
by Russ MacKay
Over the last two months we have had a steady climb of U.S. Treasuries from 1.63% to 2.60% today, based heavily on concerns around the phasing out of QE3.  The result has... Read More
Protecting the Downside Requires A Different Tack
Wednesday, June 26, 2013
Today most investors who are retired or approaching retirement are now at a stage of life
where “income and less volatility” takes a higher priority over “risk in p... Read More
Canadian Newswire: June 24, 2013
Monday, June 24, 2013
Canadian Western Bank Group (CWB Group) is donating $50,000 to the Canadian Red Cross to support communities affected by the recent floods in southern Alberta Read More
Globe & Mail: June 5, 2013
Wednesday, June 5, 2013
After going virtually straight up for the past few years, many dividend stocks have suddenly lost their mojo. Fortis and Telus, for example, are down 5 per cent from thei... Read More
Dividends in the News
Wednesday, June 5, 2013
by Russ MacKay
The recent run up in bond yields has put pressure on certain sectors of the market, notably some favoured dividend stocks.  In the Globe & Mail June 5th our own Anil ... Read More
Tough Month for Bonds
Friday, May 31, 2013
by Russ MacKay
May was a challenging month for bond investors as interest rates took a sharp turn upwards in anticipation of a slowdown/end of QE.  Long US treasuries were down over 5%,... Read More
Global Opportunities in Healthcare
Friday, May 31, 2013
As global investors, we have a greater opportunity set to invest in many high quality dividend-paying companies compared to solely investing in Canada. For this month’s M... Read More
Look Beyond Your Stock Portfolio for Donation Purposes
Thursday, May 16, 2013
by Russ MacKay
Since May of 2006, the CRA has allowed individuals to avoid the capital gains on the donation of investments.  Most investors automatically look within their equity portf... Read More
An Opportunity of Relative Value
Thursday, May 9, 2013
by Russ MacKay
In looking into various sectors of the markets, investors who have been heavily weighted in utilities may want to take a second look at the Canadian banking sector.  Bank... Read More
Edmonton Journal: May 3, 2013
Friday, May 3, 2013
With banks facing prolonged low interest lending rates, and with insurance companies hampered by low bond yields and volatile stock markets, financial institutions have b... Read More
The Next Shift in Apple
Tuesday, April 30, 2013
At the end of January, I wrote a blog post about “The Shift in Apple”. Since then, many things we predicted have come about. Apple’s stock has stabilized and may be turni... Read More
Financial Post: April 29, 2013
Monday, April 29, 2013
A number of mortgage investment corporations have gone public in Canada over the past year and more are on the way, giving investors greater access to an alternative yiel... Read More
Digital Journal: April 25, 2013
Thursday, April 25, 2013
Canadian Western Trust Company (CWT) and GP Wealth Management (GP Wealth) today announced CWT will act as exclusive custodian for GP Wealth's Signature Service Accounts. ... Read More
Globe and Mail: April 25, 2013
Thursday, April 25, 2013
If any executive deserves to take a breather, it’s Larry Pollock. As boss of Canadian Western Bank for 23 years, he built the Edmonton-based upstart into a force west of ... Read More
Edmonton Journal: April 24, 2013
Wednesday, April 24, 2013
Canadian Western Bank is buying majority ownership of Calgary-based wealth management firm McLean & Partners. Read More
Press Release: April 23, 2013
Tuesday, April 23, 2013
Canadian Western Bank (CWB or “the Bank”) today announced it has signed a definitive agreement to acquire 55% ownership of McLean & Partners Wealth Management Ltd. (McLea... Read More
Bloomberg: April 17, 2013
Wednesday, April 17, 2013
Bank of Canada Governor Mark Carney kept unchanged both his policy interest rate and his bias to tighten, even as he chopped his growth forecast for 2013 and said economi... Read More
Is it time to diversify out of Canada?
Friday, April 12, 2013
by Russ MacKay
“The S&P 500 is in its third year of outperforming the S&P/TSX Index, and it has delivered a total return of 30% since the end of 2010 compared to an unimpr... Read More
Mortgage Investment Corporations
Thursday, March 28, 2013
One of the asset classes that our new strategy, Tactical Monthly Income (TMI), can invest in is public and private mortgage investment corporations (MIC). Today in Canada... Read More
Stock or Commodity
Wednesday, March 27, 2013
by Russ MacKay
Often tines I am called upon by clients or others to serve as a resource or sounding board.  Today I had a client who was curious of the correlation between WTI and a cer... Read More
Seeking Yield in the Mortgage World
Wednesday, March 13, 2013
by Russ MacKay
One of the avenues we pursue in generating yield in our Tactical Monthly Income strategy is through Mortgage Investment Corporations (MICs).  I just returned from Toronto... Read More
Here we are again
Tuesday, March 5, 2013
by Russ MacKay
Today the S&P 500 is teetering around 1,540.  Why this is important?  The S&P 500 has seen this level only three times in the last thirteen plus years, and the pr... Read More
Finding Yield
Tuesday, February 26, 2013
As central banks around the world continue to lower interest rates, investors are having an increasingly difficult time sourcing attractive yields. The continued reductio... Read More
Financial Post: February 20, 2013
Wednesday, February 20, 2013
Despite the fear some investors still have about a slowing Chinese economy, Anil Tahiliani is optimistic about the world’s second-largest economy and other emerging marke... Read More
Earnings Report Card
Tuesday, February 19, 2013
by Russ MacKay
We are in the midst of Q4/12 earnings season, and there continues to be a diverging trend between Canada and the US.  As per our friends at Scotia, last week they reporte... Read More
Fast Start
Thursday, February 7, 2013
by Russ MacKay
Hard to imagine that a mere six weeks ago we were ringing in the New Year, and that this Sunday many will celebrate the Chinese New Year – the year of the snake. Things a... Read More
Oilweek Magazine: February 2013
Friday, February 1, 2013
As central banks around the world continue to lower interest rates, investors are having an increasingly difficult time sourcing attractive yields. The continued reductio... Read More
Winning Chinese Equities in the New Regime
Thursday, January 31, 2013
Independent research is central to client service at McLean & Partners. Our researchers regularly go to the ‘mine face’ of our equity investments to see operations and me... Read More
The Shift in Apple
Thursday, January 24, 2013
by Russ MacKay
With Steve Jobs passing, Apple started making the transition from a  growth to a value stock.  As most know, Apple came very close to going bankrupt in 1997, this may exp... Read More
Globe & Mail: January 11, 2013
Friday, January 11, 2013
Eight investment professionals have been invited to choose a North-American listed security – be it a stock, American depositary receipt or exchange-traded fund – to outp... Read More
U.S. Debt Ceiling
Tuesday, January 8, 2013
by Russ MacKay
Once again we will see the headlines turn their attention to the U.S. debt ceiling issue.  Under U.S. law, the government is restricted by the amount it can borrow based ... Read More
Going to the Bank in 2013
Tuesday, December 18, 2012
by Russ MacKay
One of the themes we identified in our Outlook 2013 is European financials.  This sector is following a very similar trend as the US financials did through their correcti... Read More
Gearing Up For 2013
Tuesday, December 4, 2012
by Russ MacKay
Two recent reports by the banks shed some interesting light on investor’s mindsets as we head into 2013.  First from our friends at RBC, who in their RBC Canadian Consume... Read More
Money Sense: November 23, 2012
Friday, November 23, 2012
The worst thing an investor can do is sell in anticipation of a market downturn, experts say. Read More
Black Friday
Wednesday, November 21, 2012
by Russ MacKay
As the United States is gearing up for Black Friday, November 23rd, we, at home, are also trying to get into the spirit.  This week I’ve received numerous flyers from Can... Read More
Shock Waves From Obama’s Victory
Friday, November 9, 2012
by Russ MacKay
As part of the look through into the new U.S. tax regime for 2013, it appears there will be increases to certain individuals on the tax rate of ordinary income, capital g... Read More
Globe and Mail: November 6, 2012
Tuesday, November 6, 2012
As The Globe and Mail’s My One and Only stock-picking contest nears the home stretch, a little-known U.S. energy play has taken a commanding lead. Read More
Canadian Business Journal: November 2012 Issue
Thursday, November 1, 2012
A profile on McLean & Partners, the evolution of the financial world, and upcoming developments with the company interviewed by the Canadian Business Journal. Read More
Investor Sentiment Back to Mid-Ranges
Thursday, November 1, 2012
by Russ MacKay
As of late, investor sentiment has deteriorated as the sentiment indicators we follow are moving from overly optimistic back to the mid-range. When we see a deterioration... Read More
Seeking Yield, Tactically
Monday, October 29, 2012
In today’s market of low interest rates, how are investors able to generate a dependable income stream without taking on undue levels of risk? Read More
It’s Earnings-Reporting Season
Thursday, October 18, 2012
by Russ MacKay
The headline on the front page of the Globe & Mail on Monday, October 8th read; Markets brace for earnings slowdown. The story went on to say “investors are bra... Read More
Shopping for Opportunities
Wednesday, October 3, 2012
by Russ MacKay
This week, an icon in the consumer food and beverage company, Kraft Foods, has decided to split the company into two new entities; Kraft Foods Group (KRFT) and Mondelez I... Read More
In Search of Yield
Friday, September 28, 2012
by Russ MacKay
As an investment company serving private investors, it is important we properly anticipate the future needs of the clients we serve, and ensure we evolve our services to ... Read More
QE3 as Predicted
Thursday, September 13, 2012
by Russ MacKay
In our Outlook 2012 which we delivered in December 2011 we stated the following; “In 2012, we expect the battered US consumer will receive needed support from a thi... Read More
Financial Post: September 7, 2012
Friday, September 7, 2012
Policy moves to contain Europe’s sovereign debt crisis over the past month and speculation that another round of quantitative easing in the United States is imminent have... Read More
Update on ECB Press Conference
Thursday, September 6, 2012
by Russ MacKay
At this morning’s European Central Bank (ECB) press conference, President Mario Draghi delivers beyond expectations. The Outright Monetary Transactions (OMT) or bond buyi... Read More
The Washington Post: August 31, 2012
Friday, August 31, 2012
Bank of Nova Scotia is betting on the market for no-frills, high-interest banking with a proposed C$3.13 billion ($3.16 billion) purchase of the Canadian unit of ING Groe... Read More
The Washington Post: August 30, 2012
Thursday, August 30, 2012
ING Groep NV’s $3.16 billion sale of its Canadian online bank to Bank of Nova Scotia may put the largest Dutch financial-services company closer to repaying state aid fro... Read More
The Apple Bites Back
Thursday, August 30, 2012
by Russ MacKay
The recent lawsuit between Apple and Samsung has put downward pressure on Samsung  and may have people believing Apple will dominate in the future. We see it differently.... Read More
Bloomberg Businessweek: August 29, 2012
Wednesday, August 29, 2012
Bank of Nova Scotia announced the biggest takeover in its history by agreeing to buy ING Bank of Canada from ING Groep NV (INGA) for C$3.13 billion ($3.16 billion) in a b... Read More
The Washington Post: August 28, 2012
Tuesday, August 28, 2012
Canadian stocks fell for a second day as data showed the biggest decline in U.S. consumer confidence in 10 months and investors awaited Federal Reserve Chairman Ben S. Be... Read More
Playing Chicken with the Fiscal Cliff
Thursday, August 23, 2012
As summer draws to a close and traders return from holidays, one question looms large. Put simply, What if the US tilts the world towards global recession ... again?
Read More
Deja vu
Wednesday, August 22, 2012
by Russ MacKay
Yesterday’s research meeting was a flashback to late last year.  Back then the external pulse of the marketplace was one of despair as it seemed the consensus view ... Read More
Bloomberg Businessweek: August 22, 2012
Wednesday, August 22, 2012
Canada’s banks, the most stable in the world, will probably post the lowest profit growth in two quarters as consumer lending eases and spending subsides ahead of a poten... Read More
Going for Gold
Wednesday, August 15, 2012
by Russ MacKay
With the Olympics still fresh in our minds I thought I’d highlight one of the positions we’ve been adding to as of late – Franco-Nevada (FNV). FNV is a ... Read More
Bloomberg Businessweek: August 9, 2012
Thursday, August 9, 2012
The possible sale of ING Groep NV’s (INGA) Canadian bank, the biggest in the country in 13 years, may spark a bidding contest among the world’s soundest banks including T... Read More
Wednesday, August 8, 2012
by Russ MacKay
At a time when investor sentiment is as fragile as ever, the last thing the markets needed was a a $440m computer glitch.  In fact, beyond the shadow of the much-publiciz... Read More
All eyes on ECB
Wednesday, August 1, 2012
by Russ MacKay
Market trading has been relatively quiet this week in advance of key announcements from both the U.S. Federal Reserve and the European Central Bank. First, look for today... Read More
Just in Case
Thursday, July 26, 2012
by Russ MacKay
There is still buzz in the energy sector around the proposed takeover of Nexen by Cnooc, in an all cash offer of $27.50 per share.  The stock is currently trading just be... Read More
Have we seen the bottom of natural gas?
Monday, July 23, 2012
The key market signals that investors should be wary of before taking the plunge.
Read More
The Numbers So Far…
Thursday, July 19, 2012
by Russ MacKay
We are not quite a quarter of the way through earnings season, and according to CNBC of the 74 companies to report so far, 46 beat, 27 missed, and 1 met expectations.  So... Read More
Summer Air Pocket
Wednesday, July 11, 2012
by Russ MacKay
We have entered earnings season with the most negative pre-announcements since 2001, coupled with low trading volumes and weaker import data out of China.  Investors must... Read More
Bloomberg Businessweek: July 4, 2012
Wednesday, July 4, 2012
Canadian stocks rose for a sixth day led by financial shares after the Competition Bureau approved a proposed bid for the Toronto Stock Exchange by a group of Canadian ba... Read More
Oilweek Magazine: June 2012
Tuesday, June 26, 2012
The key market signals that investors should be wary of before taking the plunge Read More
Money Sense: June 15, 2012
Friday, June 15, 2012
The key market signals that investors should be wary of before taking the plunge Read More
Bloomberg: June 15, 2012
Friday, June 15, 2012
Canadian stocks rose as oil’s rally helped energy companies snap a two-day losing streak amid speculation central banks will take steps to bolster growth. Read More
A Father’s Day to Remember
Thursday, June 14, 2012
by Russ MacKay
As a father of two I have always looked forward to special time with my wife and kids on Father’s Day.  While this year will be no different, I must admit I will be... Read More
What To Watch This Weekend
Wednesday, June 6, 2012
by Russ MacKay
This weekend China releases it’s all important CPI number.  The number is particularly important as China’s easing policy has hinged on inflation rolling over.  Expectati... Read More
Bloomberg Businessweek: June 5, 2012
Tuesday, June 5, 2012
McLean & Partners Wealth Management Ltd. is turning to BBB rated bonds and the Canadian-dollar denominated debt of U.S. banks to augment returns as yields on government a... Read More
A False Signal Against a Trend is a STRONG signal for the Tr...
Wednesday, May 30, 2012
by Russ MacKay
Jamie Robertson joined McLean & Partners at the start of 2012 as our Chief Investment Officer.  Over the last five months I’ve enjoyed countless discussion on t... Read More
Greek Sky Won't Fall
Friday, May 25, 2012
As Greece heads toward another national election and headline tensions escalate, it’s important to remember — the country’s creditors are continuing to be paid. Read More
Direction of the Dollar
Thursday, May 17, 2012
by Russ MacKay
In recent weeks we’ve seen the C$ come off and drop below par to the US$.  There tends to be a fairly high correlation between commodity prices and the C$, and so t... Read More
Bloomberg Businessweek: May 16, 2012
Wednesday, May 16, 2012
Canadian stocks fell a fourth straight day as concern the Greek financial crisis is intensifying drove energy and financial shares lower, overshadowing optimism the U.S. ... Read More
Bloomberg Businessweek: May 4, 2012
Friday, May 4, 2012
Canadian stocks fell, completing their biggest weekly decline this year, after U.S. employers added fewer jobs than forecast and energy shares declined with oil prices. Read More
The World Without Japan
Wednesday, May 2, 2012
by Russ MacKay
As many of you are aware Japan’s economy hit a wall beginning in December, 1989.  At the time the Japanese economy was the second largest in the world, with a GDP o... Read More
Cash is Good, Cash with a Plan is Much Better
Wednesday, April 25, 2012
by Russ MacKay
There continues to be a mountain of cash sitting in savings accounts and money market funds, for all sorts of reasons. If you happen to be one of those people where your ... Read More
Tax Season Serves as a Good Reminder
Thursday, April 12, 2012
by Russ MacKay
I was reading about the results of a recent study conducted by Leger Marketing which showed of the 1,500 Canadian surveyed, 58 percent do not know how capital gains are t... Read More
The Correlation Bubble
Thursday, April 12, 2012
One of the primary ways investors attempt to reduce risk and volatility within their portfolio is by combining different asset classes and sector exposure. Portfolio theo... Read More
Good Friday
Thursday, April 5, 2012
by Russ MacKay
It appeared earlier this week the markets were suggesting a lower probability of any type of quantitative easing (QE) from the US.  Good Friday we will learn how the Nonf... Read More
Thursday, March 22, 2012
by Russ MacKay
Last week’s posting was such an important topic it was deserving of a bit more attention.  I was reading Scotiabank’s Strategic Edge Weekly report this week a... Read More
Oilweek Magazine: March 2012
Wednesday, March 21, 2012
One of the primary ways investors attempt to reduce risk and volatility within their portfolio is by combining different asset classes and sector exposure. Portfolio theo... Read More
Tech Boom Dejavu?
Friday, March 16, 2012
On March 12, 2000, the technology bubble peaked with the NASDAQ Index, which represents the technology sector, at 5,132 vs. 3,050 today. The technology bubble was led by ... Read More
Shifts Occurring
Wednesday, March 14, 2012
by Russ MacKay
Warren Buffet warned in his annual letter to shareholders last month that “right now bonds should come with a warning label”.  And just this week our friends ... Read More
Investment Executive: March 2012
Thursday, March 8, 2012
Calgary-based investment-counselling firm McLean & Partners Wealth Management Ltd. has adjusted its business model since the 2008 financial crisis to assuage its high net... Read More
The Good in the Bad
Wednesday, March 7, 2012
by Russ MacKay
In his annual state-of-the-nation report China’s Premier Wen Jiabao guided expectations for 2012 growth down to 7.5 percent.  The market’s immediate reaction ... Read More
Time for Catch Up
Thursday, March 1, 2012
by Russ MacKay
Through the turmoil of the markets over the past few years we’ve seen gold prices significantly outperform many of the larger cap gold stocks.  Take the XAU Index, ... Read More
Bloomberg Businessweek: February 24, 2012
Friday, February 24, 2012
Natural gas’s 46 percent drop since June has done nothing to awaken bulls in the options market, with puts on a fund tracking the commodity reaching the highest price in ... Read More
Globe and Mail: February 23, 2012
Thursday, February 23, 2012
In late 2007 and early 2008, the global renewable energy sector seemed on the cusp of a golden age, as investors pushed the price of big, multinational players in the gre... Read More
Bloomberg Businessweek: February 21, 2012
Tuesday, February 21, 2012
Canadian stocks rose to a five-month high as metals and oil advanced after Greece won a second bailout, easing concern the European debt crisis will crimp growth and dema... Read More
Inflation Trend is Key
Thursday, February 16, 2012
by Russ MacKay
Inflation in China had been trending down in late 2011, yet made an uptick to 4.5 percent in January fueled in part by the Lunar New Year shopping season.  February’... Read More
McLean & Partners: February 10, 2012
Friday, February 10, 2012
Since June 1999, McLean & Partners Wealth Management has grown to be one of Canada’s leading independent wealth management companies. Read More
Alberta Venture: February 1, 2012
Wednesday, February 1, 2012
Some of Alberta’s sharpest financial minds share their top stock picks and best plays for 2012
Read More
Early Season Profit Taking
Tuesday, January 31, 2012
by Russ MacKay
My guess is a lot will be written in the days ahead about January’s strong performance, as I’m sure it caught many investors by surprise.  In January we had t... Read More
Ag Stocks Discussed on BNN
Friday, January 27, 2012
by Russ MacKay
Today we go outside our boardroom and I invite you to visit BNN’s Business Day where Anil Tahiliani, Portfolio Manager North American Equities speaks about the oppo... Read More
BNN: January 26, 2012
Thursday, January 26, 2012
Today we go outside our boardroom and we invite you to visit BNN's Business Day where Anil Tahiliani, Portfolio Manager North American Equities speaks about the opportuni... Read More
Globe and Mail: January 24, 2012
Tuesday, January 24, 2012
Anil Tahiliani had heard all the trash talk about Microsoft: It’s too big and slow; it doesn’t know the meaning of innovation; it’s going to get eaten alive by Google and... Read More
Eyes on Auto Parts
Friday, January 20, 2012
by Russ MacKay
The disconnect between the realities of the auto sector and the market’s perception looks like it is finally beginning to fade.  In 2011 we saw positive earnings pe... Read More
Advisor.ca: January 19, 2012
Thursday, January 19, 2012
Can the global financial industry expect a turnaround in 2012, lead by the resolution of the
European debt crisis? Read More
A Second Dip?
Wednesday, January 18, 2012
Recently there has been no shortage of negative news - the global stock markets have been under heavy selling pressures. Given that the scars of the last recession/bear m... Read More
Rising in the East
Wednesday, January 11, 2012
by Russ MacKay
The emerging markets are one of the key themes in our Outlook 2012.  In particular we highlight how China was on the offense against inflation last year, and how their po... Read More
Globe and Mail: January 4, 2012
Wednesday, January 4, 2012
If you had to bet on only one stock for 2012, what would it be?
Read More
Edmonton Journal: December 22, 2011
Thursday, December 22, 2011
Experts forecast restricted economic growth in most of the world in 2012 due to political waffling in Europe and the United States, but financial markets could pick up in... Read More
Dow Jones Newswire: December 20, 2011
Tuesday, December 20, 2011
When the principals at Calgary-based McLean and Partners Wealth Management were looking for a way to offer their high-net-worth clientele more income without additional r... Read More
'Tis the Season to Review your Tax Strategy
Thursday, December 15, 2011
As the end of 2011 draws near, we remind investors to consider any tax-loss strategies in their portfolios. To ensure any loss is available for use now, trade settlement... Read More
The Shifts Continue in China
Wednesday, December 14, 2011
by Russ MacKay
A few weeks back I noted how we are encouraged by the slowdown on inflation in China.  The latest inflation numbers came in below market expectations at just 4.2 percent.... Read More
Bloomberg Businessweek: December 6, 2011
Tuesday, December 6, 2011
Canadian stocks fell for the third time in four days, led by financial companies, after Bank of Montreal reported fourth-quarter earnings that missed the average analyst ... Read More
Globe and Mail: December 6, 2011
Tuesday, December 6, 2011
I don’t know about you, but I love this time of year: Only 25 sleeps until tax-free savings account contribution day! Read More
Consumers are Key
Monday, December 5, 2011
by Russ MacKay
One of the four investment themes we covered in our Outlook 2012 is the Emerging Consumer.  BRIC countries continue to move up the economic ladder.  China recently surpas... Read More
Financial Post: December 2, 2011
Friday, December 2, 2011
Equity investors crave growth. They’re usually on it like moths to a flame. But that hasn’t been the case when it comes to China this year. Read More
Financial Post: November 30, 2011
Wednesday, November 30, 2011
China let loose its monetary policy Wednesday, sending a clear message to global markets that it will do whatever is necessary to keep the country’s faltering economy fro... Read More
QE3 is Coming
Monday, November 28, 2011
by Russ MacKay
In the fall of 2011 the US Fed announced Operation Twist, whereby moving out on the yield curve in their bond-buying policy in an effort to lower the long-term (30-year) ... Read More
Financial Post: November 25, 2011
Friday, November 25, 2011
Japan’s lost decade – or decades – has been a major headache for investors so it’s understandable that dire warnings of a Japanese-style stagnation in Europe and the Unit... Read More
Spreads are Attractive
Tuesday, November 22, 2011
by Russ MacKay
The uncertainty of the markets has caused the spreads of corporate bonds to widen, offering investors an opportunity for yield enhancement over Government bonds.  The 10-... Read More
China for 2012
Monday, November 14, 2011
by Russ MacKay
The tide may very well be turning in China which could point to out perform in 2012.  Firstly, we recently we saw the inflation rate roll over to 5.5% from a peak of 6.5%... Read More
Globe and Mail: November 9, 2011
Wednesday, November 9, 2011
Alberta is mounting a new offensive on the Keystone XL project, sending its Premier to Washington and naming a new trade envoy to the U.S. as concerns grow that the contr... Read More
Europe’s All Nighter
Thursday, October 27, 2011
by Russ MacKay
The response to Europe’s “all nighter” in Brussels was strong as the overseas markets liked what they heard, and the North American markets followed sui... Read More
Bloomberg Businessweek: October 24, 2011
Monday, October 24, 2011
Canadian stocks rose for a second day, led by energy and raw-materials producers, as oil and metals gained after a preliminary index of Chinese manufacturing indicated th... Read More
The Emotional Cycle – Revisited
Friday, October 21, 2011
by Russ MacKay
For those of you who have followed our information may recall an article we wrote in February 2009 in UPSHOT Magazine, titled The Investment Cycle: Understanding the para... Read More
Relative Value
Wednesday, October 12, 2011
by Russ MacKay
As we have discussed in previous posts the Emerging Markets are one of the long-term themes which we believe all investors should have exposure to.  While these areas are... Read More
Desperately Seeking Yield
Friday, October 7, 2011
by Russ MacKay
As the market gyrations continue it seems investors are desperately seeking yield, either as a means of generating income, lowering volatility, or a combination of both. ... Read More
Globe and Mail: October 5, 2011
Wednesday, October 5, 2011
With Canada’s benchmark index having officially entered a bear market, we asked four dividend-oriented investors each to pick a Canadian stock with an emphasis on the saf... Read More
Bloomberg Businessweek: October 4, 2011
Tuesday, October 4, 2011
Canadian stocks fell for a third day as financial companies dropped on speculation the European Union will require bondholders to face bigger losses on Greek debt and gol... Read More
Oilweek Magazine: October 2011
Saturday, October 1, 2011
As the United States and Europe struggle with anaemic economic growth and a future of fiscal austerity, where can investors find sustainable economic growth and improving... Read More
Insight into Dividends (part two)
Tuesday, September 27, 2011
by Russ MacKay
For those of you looking to invest in dividend stocks, you may wonder whether there is much of a difference between investing in higher yielding stocks vs lower yielding ... Read More
Bloomberg: September 22, 2011
Thursday, September 22, 2011
Canadian bank stocks have soared relative to their global peers, prompting investors to rethink their stakes in the world’s safest financial-services firms. Read More
Insight into Dividends
Wednesday, September 21, 2011
by Russ MacKay
As the market eagerly awaits better clarity into the Greek situation (which seems to be a heavy overhang on the markets) we have been investing some of our cash selective... Read More
The Shift of Power
Tuesday, September 20, 2011
As the United States and Europe struggle with anaemic economic growth and a future of fiscal austerity, where can investors find sustainable economic growth and improving... Read More
Time to Put on Hold
Monday, September 12, 2011
by Russ MacKay
There is a new round of spectrum auctions in Canada which could prove to be shorter-term headwinds for the wireless companies; increased competition, plus buying assets w... Read More
Are We There Yet?
Tuesday, August 23, 2011
by Russ MacKay
The market seems to be at odds as to whether we are heading into a recession, or a period of slower growth.  I thought I’d ask our friends at Scotia Capital for the... Read More
Demand Keeps Spreads Tight
Wednesday, August 17, 2011
by Russ MacKay
With the market’s uncertainty of the economic outlook we have seen a huge rally into U.S. treasuries, moving from 3.73% in February of this year to the 2.23% level ... Read More
Edmonton Journal: August 11,2011
Thursday, August 11, 2011
Canada’s provincial bonds, trading at the biggest discount relative to federal bonds in a year, are attracting investors after the Standard & Poor’s downgrade of U.S. deb... Read More
The Direction Get Clearer
Wednesday, August 10, 2011
by Russ MacKay
As per my last posting prior to a summer break we were patiently waiting to get a better gauge on the direction of the US economy, post QE2. Unfortunately it appears the ... Read More
Positioned for Opportunity
Friday, August 5, 2011
The last few months the markets have been driven by headline news events. The U.S. has raised their debt ceiling, thus buying them time to take the necessary steps toward... Read More
Oilweek Magazine: August 2011
Monday, August 1, 2011
Over the last decade, small-cap equity outperformance has been significant on a global basis. Firstly, there are a large number of different definitions with regard to ho... Read More
Thursday, July 7, 2011
by Russ MacKay
The long awaited Friday,  July 8th is almost here.  While many Calgarians and tourists in for the Stampede will be anxiously waiting along the parade route to catch a gli... Read More
Financial Post: June 24, 2011
Friday, June 24, 2011
As Canadians head into full-fledged summer mode and their collective birthdays at the end of the week, a sobering thought that may dim the celebrations: Our seven-year st... Read More
Step by Step
Wednesday, June 22, 2011
by Russ MacKay
The markets surged on Tuesday in anticipation that Greece’s Prime Minister Papandreau would win a vote of confidence and move one step closer a resolution. The mark... Read More
Keeping an Eye on the Pigs
Wednesday, June 15, 2011
by Russ MacKay
China’s inflation rose to 5.5% in May, fuelled by pork prices up over 40% year-over-year.  At the same time China is trading at 11.5x forward price -to-earnings, co... Read More
Globe and Mail: June 13, 2011
Monday, June 13, 2011
Buying the preferred shares the big banks issued during the financial crisis is an example of those small, neat wins that conservative investors can parlay into solid gai... Read More
Opportunity in the Clouds
Wednesday, June 8, 2011
by Russ MacKay
This week Apple revealed iCloud, their version of a much older concept of cloud computing (Salesforce.com in the 90’s, Amazon.com in the 2000’s, and Google docs in 2006).... Read More
Banking on the Bank
Wednesday, June 1, 2011
by Russ MacKay
CIBC reported last week with a slight miss to the EPS estimates.  On the surface the 23% Y/Y increase in deposits was offset by only a 4% increase in loan growth, so perh... Read More
Bloomberg Businessweek: May 27, 2011
Friday, May 27, 2011
"The perceived status of Canadian government bonds has gotten a bit of bid,” said Ric Palombi, a fixed-income manager at McLean & Partners Wealth Management Ltd. in Calga... Read More
No New News
Wednesday, May 25, 2011
by Russ MacKay
Front and centre is the continued concern on the European debt crisis.  Now the buzz word is “reprofiling” in terms of describing a solution to Greece’s... Read More
New Bond Issues
Wednesday, May 18, 2011
by Russ MacKay
For investors seeking opportunities in the bond market there were a couple of corporate new issues this week which look interesting.  Firstly, Bell Canada has issued a fi... Read More
What’s More Expensive Than Credit Card Debt?
Wednesday, May 11, 2011
by Russ MacKay
After an unscheduled meeting by Euro-region officials last week it appears Greece’s problems still require further adjustments.  The next step is an audit of Greece... Read More
Junior’s Getting Richer
Wednesday, May 4, 2011
by Russ MacKay
For those of you long junior oil & gas stocks, it might be time to check in on an important valuation metric, Price-to-Cash Flow (P/CF).  According to our friends at ... Read More
Marketwire: April 28, 2011
Thursday, April 28, 2011
McLean & Partners International Equity is ranked #2 out of 406 funds in North America according to industry reports published by RBC Dexia and the Smartmoney/Lipper unive... Read More
All Eyes on Kate
Wednesday, April 27, 2011
by Russ MacKay
Prince William and Kate Middleton are to marry this Friday, and over one billion people are expected to watch the broadcast.  This could certainly cultivate a whole new K... Read More
The Two Sides of Saudi’s Production Cuts
Wednesday, April 20, 2011
by Russ MacKay
There seems to mixed messages in the recent headlines regarding Saudi Arabia’s recent production cuts.  This week the Globe & Mail ran an article, Oil Price Slump Des... Read More
Harvest Time
Wednesday, April 6, 2011
by Russ MacKay
I have talked before about having a sell discipline, which can often times be the hardest part of portfolio management. Potash is one such stock worthy of review. The sto... Read More
Globe and Mail: April 3, 2011
Sunday, April 3, 2011
"We’re starting to see the end of the liquidity trade," says Ric Palombi, portfolio manager with McLean & Partners Wealth Management Ltd. in Calgary. "There’s some party... Read More
Investing Lesson From Gretsky
Wednesday, March 30, 2011
by Russ MacKay
With the playoffs just around the corner it’s fitting to draw on a lesson from the Great One. “I skate to where the puck is going to be, not to where the puck... Read More
Beyond E&P Companies
Wednesday, March 23, 2011
by Russ MacKay
With continued uncertainty in the Middle East, coupled with the long-term secular trend in energy, we are comfortable having exposure to this sector.  Many investors are ... Read More
Looking Beyond Japan
Wednesday, March 16, 2011
by Russ MacKay
This was without doubt the core focus of the research meeting this week at McLean & Partners.  We began the meeting with a sincere acknowledgement of our condolences ... Read More
Sherpa Asset Management – A New Opportunity
Wednesday, March 9, 2011
by Russ MacKay
Most investors who have achieved a certain level of means begin to become more sensitive to the volatility of the market.  Preservation of capital becomes more important,... Read More
Dealing with Uncertainty – Requires Discipline and Pat...
Wednesday, March 2, 2011
by Russ MacKay
It is difficult to open the papers, flip on the TV, or scan the market feeds on your favorite wireless device and not be edgy about the uncertainty in the world today.  U... Read More
Managing for Rising Interest Rates
Friday, February 18, 2011
Everyone is vulnerable to inflation and higher interest rates to some degree. The closer you are to retirement and the more your investments are geared to generating inco... Read More
Oilweek Magazine: February 2011
Friday, February 18, 2011
It’s that time of year again. If you haven’t already done so, it’s time for you to consider contributing to your registered savings plan (RSP) for the 2010 tax year. Read More
More Inflation News
Wednesday, February 16, 2011
by Russ MacKay
This week we saw the inflation number out of China – a 4.9% increase for January - reconfirming inflation is alive and well.  In fact the numbers may be understated... Read More
Collector’s Items in Preferred Shares
Wednesday, February 9, 2011
by Russ MacKay
In accordance with Basel III there are changes coming which will impact the Bank’s Tier 1 and Tier 2 capital levels. In particular, preferred shares with no conversion fe... Read More
Reuters February 8, 2011
Tuesday, February 8, 2011
"If there are companies showing that margins are compressing because they can’t pass along these higher input costs ... there’s going to be some caution and there could b... Read More
The Reversal in Oil
Friday, February 4, 2011
by Russ MacKay
It’s hard to believe that only two years ago oil was trading in the $40 range, and steadily increased to the low 90′s by late 2010.  Yet the buildup of inflat... Read More
Looking Beyond the State of the Union
Wednesday, January 26, 2011
by Russ MacKay
Barack Obama delivered his State of the Union address and laid out a vision and plan to continue the rebuild of America. I was pleased to hear several of his plans provid... Read More
Outlook for 2011
Thursday, January 20, 2011
by Russ MacKay
As per my previous posting, we have released our Outlook 2011, and is now available at McLean & Partners’ website (www.mcleanpartners.com).  One of the longer t... Read More
Do You Have Cash on Hand?
Monday, January 10, 2011
by Russ MacKay
This is my first entry in 2011, and could prove to be the most timely of all this year – hold and/or raise some cash now. For those of you looking back to 2010 you ... Read More
Outlook for the Energy Income Trust Conversion Wave
Friday, December 17, 2010
The energy income trust sector has come a long way since that frightening Halloween on October 31st, 2006, when the financial community learned that Energy and Business t... Read More
This is not “The Rate Rise”
Tuesday, December 14, 2010
by Russ MacKay
Investors by now have been clearly forewarned of the building issue in the fixed income market – inflation and the shift to a new secular trend – a long-term ... Read More
Outlook for 2011
Friday, December 10, 2010
by Russ MacKay
Each year McLean & Partners shares their Outlook for the year ahead.  In reflection, last January they suggested the market would continue it’s upward climb and... Read More
From Red to Black
Wednesday, December 1, 2010
by Russ MacKay
The United States just celebrated their Thanksgiving, and as part of the festivities millions of Americans took part in Black Friday, commonly known as the day when retai... Read More
Oilweek Magazine: December 2010
Wednesday, December 1, 2010
Riding the emerging markets wave. Emerging economies can offer attractive investment opportunities, but you need to do your homework. Read More
Investment Opportunities in Emerging Markets
Friday, November 26, 2010
Investing in emerging markets (EM) equities has been a very rewarding strategy over the last five years, producing annual returns in Canadian dollar terms of 8.82 per cen... Read More
Investing in the Consumers of the Emerging Markets
Wednesday, November 24, 2010
by Russ MacKay
Investors seeking high growth opportunities globally are no strangers to opportunities unfolding in the Emerging Markets.  McLean & Partners has been investing in the... Read More
Ireland Turns the Markets Green
Thursday, November 18, 2010
by Russ MacKay
News of a bailout in Ireland helped restore investors’ confidence in the shorter term, and the stock screens around the world flickered green today. But we must not... Read More
Taking Advantage of a Strong Loonie
Tuesday, November 9, 2010
by Russ MacKay
As we prepare to hunker down for another dark and cold winter many snowbirds have already headed south to warmer climates.  At the same time we’ve seen the Canadian... Read More
Shifting with the Recovery
Thursday, October 28, 2010
by Russ MacKay
The markets continue to price in an economic recovery (albeit slower than we would all like), and as such many of the early cyclical stocks have had nice moves.  Looking ... Read More
Tax Efficencies Can Boost Your Income
Thursday, October 14, 2010
by Russ MacKay
We all remember all too well the decision Finance Minister Jim Flaherty made four years ago regarding the taxation of Income Trusts come January 1, 2011.  Already many In... Read More
Careful Chasing Yields on REITs
Wednesday, September 22, 2010
by Russ MacKay
In today’s market there appears to be an unprecedented demand for yield.  Over the last two years investors have poured more money into Bond funds than Equity funds... Read More
Basel III Serves Up Opportunities
Tuesday, September 14, 2010
by Russ MacKay
Over the weekend the Basel Committee on Banking Supervision revealed the guidelines for Basel III, and the actual level of minimum capital that banks will be required to ... Read More
Outperformance of the S&P 500 Deserves a Second Look
Monday, August 30, 2010
by Russ MacKay
In the last 18 months, since the market bottomed in March of 2009, the S&P 500 is up 54%.  Meanwhile, over the same time period the Dow Jones U.S. Basic Materials Ind... Read More
The Debate on a Double Dip U.S. Recession
Tuesday, August 24, 2010
by Russ MacKay
The market continues to gyrate around the possibility of a double-dip recession in the U.S.  Given the current market data we believe there is too much optimism about a c... Read More
Russian Fires Fuel Wheat Prices
Monday, August 9, 2010
by Russ MacKay
Droughts and forest fires in Russia are key factors forcing wheat prices higher across the world.  Over the last few months prices have soared more than 60%.  Now’s... Read More
Update on Earnings Season
Monday, August 2, 2010
by Russ MacKay
As mentioned in an earlier posting, we’re in earnings seasons, and the numbers may surprise you.  According to Bloomberg, here’s how they look so far; North A... Read More
Oilweek Magazine: August 2010
Sunday, August 1, 2010
In today's low interest rate world, how can an investor position his or her portfolio for cash flow without taking on above average risk? Read More
Tides Turning in the U.K.
Monday, July 26, 2010
by Russ MacKay
The U.K. could very well be on the path for fundamental change which could turn the tides in the favor of the patient investor. Our views as we entered 2010 was that the ... Read More
Looking Beyond Europe
Tuesday, July 20, 2010
by Russ MacKay
The release of this Friday’s European financial stress test was the the leading topic of today’s research meeting. This is without doubt an overhang of market... Read More
Stampede of Earnings
Monday, July 12, 2010
by Russ MacKay
The 2010 Calgary Stampede is in full swing, and investors can expect a “Stampede” of earnings starting this week.  Alcoa set off the quarterly earnings season... Read More
Indicator of Value
Monday, July 5, 2010
by Russ MacKay
One way to look at the value of equities versus bonds is monitor the difference between the earnings yield and the bond market yield. Earnings yield is simply calculated ... Read More
Corrective Action
Tuesday, June 29, 2010
by Russ MacKay
One of the strengths of a good portfolio manager is willing to recognize when there may be a mistake in their judgement or thesis, taking corrective action, and driving o... Read More
Revisiting April’s Blog Entry
Monday, June 21, 2010
by Russ MacKay
As I discussed in the first blog entry in April this year, we had specific concerns over the emerging markets. In particular, the strong one-year performance coupled with... Read More
The Art of Marketing
Monday, June 14, 2010
by Russ MacKay
Today I bypassed the weekly research meeting to attend the Art of Marketing conference in Calgary, featuring keynotes by some of the brightest marketing minds, including ... Read More
Small crowds
Monday, June 7, 2010
by Russ MacKay
Anil Tahiliani, Portfolio Manager, North American Equities with our firm just returned from the Sanford C. Bernstein Strategic Decision Conference in New York. Over 2,000... Read More
Oilweek Magazine: June 2010
Tuesday, June 1, 2010
A debate is raging in the financial media as to whether this current rally is the start of the next bull market or just a short-term rally in a long-term bear market. Read More
Ripple Effect
Monday, May 31, 2010
by Russ MacKay
The uncertainty in Europe continues as further austerity measures surprise the market. As a result there are “risk aversion” opportunities developing at home ... Read More
Continued Patience
Monday, May 24, 2010
by Russ MacKay
This week’s issue comes a few days early as we will enjoy the Victoria Day long weekend. The research team has been busy at conferences in New York (BMO Agriculture, Prot... Read More
Getting Paid to Wait
Monday, May 24, 2010
by Russ MacKay
Discussions regarding our approach to European investing was again at the forefront of the agenda. We believe investor confidence will reverse to the positive when there ... Read More
Weekend at Warren’s
Monday, May 24, 2010
by Russ MacKay
This past weekend Warren Buffett played host to over 37,000 investors as they converged in Omaha, Nebraska to hear his views on the economy and markets.  Warren’s words t... Read More
Putting your shorts on
Monday, May 24, 2010
by Russ MacKay
With temperatures rising in Calgary this week, it seems fitting that our research team’s focus is on shorting the emerging markets. While we are bullish on the long-term ... Read More
Monday, May 24, 2010
by Russ MacKay
One of the exciting parts of my role in Business Development at McLean & Partners Wealth Management is I am privy to the insight of our global research team. Each wee... Read More
Oilweek Magazine: April 2010
Thursday, April 1, 2010
If interest rates ride a rising tide, will stocks follow? Read More



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