Facebook just lost $60 billion — more than Tesla's entire market cap — in two days

Facebook Inc.’s privacy crisis has turned into a shareholder crisis.The social media giant has lost over US$60 billion in market value over the past two days, following revelations that personal data of millions of users was obtained by a data analytics firm. That’s more than the market capitalization of Tesla Inc. at around US$52 billion or three times that of Snapchat owner Snap In [...]

21 March 2018

Bitcoin boom and bust a lot like the dot-com bubble — but on steroids, Morgan Stanley says

Bitcoin has long been compared to the dot-com bubble. Morgan Stanley says its recent moves are similar to the tech boom and bust, but on steroids.Bitcoin’s recent moves almost mirror that of the Nasdaq Composite Index in the lead-up to and aftermath of 2000, but at 15 times the speed, Morgan Stanley said. The Nasdaq climbed 278 per cent in 519 days in the rally leading up to its high i [...]

21 March 2018

Trump tariffs set a dangerous precedent for global trade

It’s conventional wisdom: markets hate uncertainty. But maybe, after almost 14 months of Donald Trump in the White House, they’re getting used to it.Consider the seesaw reaction to the president’s recent tariff tantrum. Last week, he surprised almost everybody by announcing he was getting ready to impose a 25-per-cent tariff on imports of steel and a 10-per-cent levy on aluminu [...]

14 March 2018

Oprah Winfrey makes $110 million cashing in some of her Weight Watchers stock

Oprah Winfrey, who spurred a comeback at Weight Watchers International Inc. when she bought a stake in the company in 2015, is cashing in on the turnaround.Winfrey made US$110 million this month by selling 2 million shares of the company, most of which came from exercising options, according to a regulatory filing. She also donated 361,000 shares to her charitable foundation, which sold [...]

14 March 2018

How to ‘trade proof’ your Canadian portfolio without falling back on defensive stocks

TORONTO — Canadian fund managers are crunching numbers to trade-proof their portfolios, as the threat of U.S. tariffs boosts the appeal of domestic-focused names and shares of companies that have production capacity in the United States.The prospect of a trade war has rattled global financial markets, including the shares of Canada’s many export-driven companies such as those in the [...]

08 March 2018

Canadian dollar set to plunge to lowest level in 15 years on 'bully's mismatch,' currency guru says

One of the most prominent currency-markets gurus says the Canadian dollar will plunge to levels not seen in more than 15 years as trade turmoil intensifies.John R. Taylor, who formerly headed what was then the world’s biggest currency hedge fund, says his analysis of statistical patterns projects the loonie to weaken about 20 per cent to $1.60 per U.S. dollar by the end of next ye [...]

08 March 2018

Three key takeaways from the market shock that will help investors navigate stormy waters

It has been an interesting two weeks in global markets. While this can be an unsettling period for investors, it can also be a great chance to form a better understanding of the market and its underlying risk.In this regard, here are three key takeaways from the latest action in the markets we think will help investors navigate stormy waters. Corrections are the enemy of the investmen [...]

14 February 2018

Is now the time to buy energy stocks?

Oil and gas equities have been underperforming crude oil prices since the middle of 2017, but the outlook for energy stocks deteriorated further in the past two weeks, as major oil benchmarks have declined more than 10 per cent.That leaves investors wondering whether now is the time to be buying, or is a more cautious strategy warranted?After peaking above US$66 per barrel on Jan. 25, WTI [...]

14 February 2018

Apple shares climb on signs of demand for priciest iPhone

Apple Inc. quelled concern over lackluster iPhone demand with results showing that when consumers buy the gadget, they’re willing to pay up for the most-expensive model.Apple shares rose 3.6 per cent in extended trading, after closing at US$167.78 in New York on Thursday.The average selling price for the iPhone, Apple’s most important gadget, was US$796 in the crucial holiday quarter. [...]

05 February 2018

Five signs that this market party might be winding down

In our last column, we gave you five reasons why the stock market party might continue for a while longer. Of course, ‘a while longer’ is not the same as ‘forever’.Like any good party, there does come an appropriate time to leave. If you are young (and drunk) the time to leave a party is before the first fight breaks out. If you are older, and the host of the dinner party starts [...]

05 February 2018

Tax reform and Fed rate hikes not helping floundering greenback

The U.S. dollar has started off 2018 where it left off last year — on the decline — and if forecasts for the currency to soften further prove correct, that could make the Canadian dollar’s recent ascent to 80 cents U.S. seem rather insignificant by the end of the year.On Tuesday, the U.S. Dollar Index (DXY) fell below 92 for the first time in more than three months, after dropping approximat [...]

09 January 2018

Top energy and mining picks to consider amid strong global growth

If you’re looking for an easy way to measure the health of the global economy, look no further than the fact that 75 per cent of OECD countries posted accelerating GDP growth in the third quarter. At the same time, no OECD country is experiencing a recession.That’s the second consecutive quarter this feat has been achieved, and the absence of a recession is something that hasn’t occurred sin [...]

09 January 2018

For investors, 2017 was the year everything went right, and that's enough to make anyone paranoid

Portfolio managers are a paranoid lot. When times are good, we worry about when it’s going to end. When times are bad, we worry that it’s never going to end.”Don Cranston, the C in CGOV Asset Management, told me this years ago. He could’ve been referencing 2017, which for me, was a year of discomfort. It just felt too good.After years of markets over-reacting to political and s [...]

21 December 2017

'I'm flesh and blood and I'm here to help you': Hunter Harrison's transformation model

After taking the reins as chief executive officer of Canadian National Railway Co. in 2003, E. Hunter Harrison — the legendary railroad leader who died last weekend due to severe complications from an illness — was determined to make sure his employees understood the high standards he expected of them.So he held a series of what were known as “Hunter Camps” — intimate three-day [...]

21 December 2017

Why this energy fund manager isn't being cautious

It’s been a bumpy year for oil prices. After dipping to nearly US$42 per barrel in June, crude is now hovering near US$60, and is poised to end 2017 up about five per cent. Unfortunately, the Canadian energy sector has failed to keep pace, as the S&P/TSX Composite Energy Index has fallen more than 10 per cent, and many stocks are still down 40 to 50 per cent.There is no shortage of [...]

11 December 2017

Five reasons why 2017 has been such a blockbuster year for investors

For many investors, it has been a very good year. Of course, we will soon start to see a plethora of market ‘predictions’ for 2018, and we have promised our editor we will come up with one as well. But, before one can even try to predict the future, one needs to look at the past. With the help of Brandon Osten and his team at Venator Capital, as succinctly outlined in his recent Inve [...]

11 December 2017

How Mitzi Perdue Recommends Passing Your Business to the Next Generation

About 70 percent of family businesses never make it past the first generation. Mitzi Perdue is uniquely familiar with the challenges of passing on a family business. Perdue was born into the family that created Sheraton Hotels and then married into the family behind Perdue Chicken. Because of this expertise, Perdue recently wrote a book specifically about family business ownership, called [...]

23 November 2017

With $18.8B deal, Brookfield doubles down on the mall

Brookfield Property Partners L.P.’s $18.8-billion bid for the portion U.S. mall operator GGP Inc. that it doesn’t already own is underscoring the firm’s belief that brick-and-mortar retail isn’t dead — it may just need to broaden its horizons.Toronto-based Brookfield, the real estate arm of Brookfield Asset Management Inc., already owns 34 per cent of GGP. It confirmed Monday t [...]

17 November 2017